Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 279

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 279
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i.e., cease payment of principal and interest) and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty’s custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential risk of over-collateralization in the event of counterparty default. The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements, as of December 31, 2024 and 2023. The Company has swap agreements with commercial banking customers that are 

102

not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. Interest rate swaps that are designated as fair value hedges between the Company and institutional counterparties are also excluded from this table. 

        (i)

        (ii)

        (iii) = (i)-(ii)

        (iv)

        (v) = (iii)-(iv)

        Gross Amounts Not Offset in the Consolidated Statements of Condition

        (dollars in thousands)
         
        Gross Amounts Recognized in the Statements of Condition

        Gross Amounts Offset in the Statements of Condition

        Net Amounts Presented in the Statements of Condition

        Netting Adjustments per Master Netting Arrangements

        Fair Value of  Collateral Pledged / Received 1

        Net Amount

        December 31, 2024

        Assets:

        Interest Rate Swap Agreements:

        Institutional Counterparties
         
        $
        141,571

        $
        —

        $
        141,571

        $
        5,446

        $
        136,125

        $
        —

        Liabilities:

        Interest Rate Swap Agreements:

        Institutional Counterparties

        5,446

        —

        5,446

        5,446

        —

        —

        Repurchase Agreements:

        Private Institutions

        100,000

        —

        100,000

        —