Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 267

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 267
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 Actual Return on Plan Assets

        3,029

        9,846

        —

        —

        Employer Contributions

        462

        468

        1,606

        1,673

        Purchase

        —

        (4,115
        )

        —

        —

        Employer Benefits Paid 1

        (6,964
        )

        (7,309
        )

        (1,606
        )

        (1,673
        )

        Fair Value of Plan Assets at End of Year
         
        $
        74,741

        $
        78,214

        $
        —

        $
        —

        Funded Status at End of Year 2
         
        $
        (102
        )
         
        $
        (354
        )
         
        $
        (23,658
        )
         
        $
        (23,314
        )
       
      1.Participants' contributions relative to the postretirement benefit plan were offset against employer benefits paid in the table above. Participants' contributions for postretirement benefits were $0.8 million for the years ended December 31, 2024 and 2023.2.Amounts are recognized in Retirement Benefits Payable in the consolidated statements of condition.The changes in actuarial losses (gains) related to the Company’s Pension Plans and postretirement benefit plans are mainly due to changes in discount rates for the years ended December 31, 2024 and 2023. For the year ended December 31, 2024, the change in discount rate resulted in a $1.3 million decrease to the Company’s Pension Plans liability and a $0.5 million decrease to the Company’s postretirement benefit plan liability. For the year ended December 31, 2023, the change in discount rate resulted in a $0.4 million increase to the Company’s Pension Plans liability and a $0.2 million increase to the Company’s postretirement benefit plan liability.The following presents the amounts recognized in the Company’s accumulated other comprehensive income for the Pension Plans and postretirement benefit plan as of December 31, 2024 and 2023. 

        Pension Benefits

        Postretirement Benefits

        (dollars in thousands)
         
        2024

        2023

        2024

        2023

        Amounts Recognized in Accumulated Other   Comprehensive Income (