Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 283

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 283
---
.50
        %
        -
        99.00%

        85.53
        %
         
        $
        148

       1.Unobservable inputs for mortgage servicing rights and interest rate lock commitments were weighted by the unpaid principal balance. Significant increases (decreases) in any of these inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions of each other.Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisThe Company may be required periodically to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or impairment write-downs of individual assets. As of December 31, 2024 and 2023, there were no assets or liabilities 

107

with nonrecurring fair value adjustments. Additionally, there were no nonrecurring fair value adjustments during the year ended December 31, 2024 and 2023. Fair Value OptionThe following table reflects the difference between the aggregate fair value and the aggregate unpaid principal balance of the Company’s residential mortgage loans held for sale as of December 31, 2024 and 2023. 

        (dollars in thousands)
         
        Aggregate Fair Value

        Aggregate Unpaid Principal

        Aggregate Fair Value Less Aggregate Unpaid Principal

        December 31, 2024

        Loans Held for Sale
         
        $
        2,150

        $
        2,109

        $
        41

        December 31, 2023

        Loans Held for Sale
         
        $
        3,124

        $
        3,051

        $
        73

      Changes in the estimated fair value of residential mortgage loans held for sale are reported as a component of Mortgage Banking in the Company’s consolidated statements of income. For the years ended December 31, 2024 and 2023, the net gains or losses from the change in fair value of the Company’s residential mortgage loans held for sale were not material.Financial Instruments Not Recorded at Fair Value on a Recurring BasisThe following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of December 31, 202