Company: BOH
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000046195-25-000037
Chunk: 217

Company: BANK OF HAWAII CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 217
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 changes to federal support programs present challenges, but ongoing state-level initiatives and a diversified economic base are expected to help mitigate their impact. Although job growth has moderated and federal employment reductions are underway, Hawai‘i’s unemployment rate has been lower relative to national levels. Hawai‘i’s unemployment rate was 2.7% in August 2025, which was below the U.S. unemployment rate of 4.3%.

For the first nine months of 2025, the median price of single-family home and condominium sales on Oahu increased by 4.1% and decreased by 1.0%, respectively, compared to the same period in 2024. The volume of single-family homes sales on Oahu increased 0.8% and condominium sales decreased 3.0% compared to the same period in 2024. Inventory of single-family homes and condominiums on Oahu was 3.4 months and 6.4 months, respectively, for the third quarter of 2025.

Earnings Summary

Net income for the third quarter of 2025 was $53.3 million, an increase of $13.0 million, or 32%, compared to the same period in 2024. Diluted earnings per common share was $1.20 for the third quarter of 2025, an increase of $0.27, or 29%, compared to the same period in 2024.

•The return on average common equity for the third quarter of 2025 was 13.59% compared with 11.50% in the same quarter of 2024.

•Net interest income for the third quarter of 2025 was $136.7 million, an increase of 16% compared to the same period last year. 

•Net interest margin was 2.46% in the third quarter of 2025, an increase of 28 basis points from the same period in 2024. 

•The provision for credit losses for the third quarter of 2025 and 2024 was $2.5 million and $3.0 million, respectively.

•Noninterest income was $46.0 million in the third quarter of 2025, an increase of 2% compared to the same period last year. 

•Noninterest expense was $112.4 million in the third quarter of 2025, an increase of 5% compared to the same period last year. 

•The effective tax rate for the third quarter of 2025