# EDGAR Filing Document

**Accession Number:** 0000046195
**File Stem:** 0001564590-23-000643
**Filing Date:** 2023-1
**Character Count:** 110779
**Document Hash:** 07fb078032f6f069bfc380276c7e448e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001564590-23-000643.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001564590-23-000643

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 41

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF HAWAII CORP
- **CENTRAL INDEX KEY:** 0000046195
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 990148992
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06887
- **FILM NUMBER:** 23543147

**BUSINESS ADDRESS:**
- **STREET 1:** 130 MERCHANT STREET
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813
- **BUSINESS PHONE:** 8886433888

**MAIL ADDRESS:**
- **STREET 1:** 130 MERCHANT STREET
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PACIFIC CENTURY FINANCIAL CORP
- **DATE OF NAME CHANGE:** 19970430

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANCORP HAWAII INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HAWAII BANCORPORATION INC
- **DATE OF NAME CHANGE:** 19800128

?xml version="1.0" encoding="utf-8"? boh-8k_20230123.htm

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D. C. 20549

### FORM 8-K

#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

---

| | |
|:---|:---|
| Date of Report | **January 23, 2023** |
| (Date of earliest event reported) |  |

---

### BANK OF HAWAII CORPORATION
(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-6887** | **99-0148992** |
| (State of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

---

| | | | |
|:---|:---|:---|:---|
|  **130 Merchant Street** | **Honolulu** | **Hawaii** | **96813** |
|  (Address of principal executive offices) | (City) | (State) | (Zip Code) |

---

(888) 643-3888

(Registrant's telephone number, including area code)

#### Not Applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
|  **Common Stock, par value $0.01 per share** | **BOH** | **New York Stock Exchange** |
| **Depository Shares, Each Representing 1/40<sup>th</sup> Interest in a Share of 4.375% Fixed Rate Non-Cumulative Preferred Stock, Series A** | **BOH.PRA** | **New York Stock Exchange** |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition.** |

---

On January 23, 2023, Bank of Hawaii Corporation announced its results of operations for the quarter ended December 31, 2022. The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| <u>Exhibit No.</u> |  |
| 99.1 | [<u>January 23, 2023 Press Release: Bank of Hawaii Corporation Fourth Quarter 2022 Financial Results. Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks. Furnished herewith</u>](boh-ex991_6.htm). |
| 99.2 | [<u>Bank of Hawaii Corporation Fourth Quarter 2022 Financial Report</u>](boh-ex992_249.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  Date: January 23, 2023 | Bank of Hawaii Corporation | Bank of Hawaii Corporation |
|  | By: | /s/ Patrick M. McGuirk |
|  |  | Patrick M. McGuirk |
|  |  | Senior Executive Vice President and Corporate Secretary |

---

## Exhibit 99.1

#### Exhibit 99.1

### Bank of Hawai'i Corporation Fourth Quarter 2022 Financial Results
• **2022 Diluted Earnings Per Common Share $5.48** 

• **2022 Net Income $225.8 Million** 

• **Diluted Earnings Per Common Share $1.50 for the Fourth Quarter of 2022** 

• **Net Income $61.3 Million for the Fourth Quarter of 2022** 

• **Board of Directors Declares Dividend of $0.70 Per Common Share** 

#### FOR IMMEDIATE RELEASE
HONOLULU, HI (January 23, 2023) -- Bank of Hawai'i Corporation (NYSE: BOH) today reported diluted earnings per common share of $5.48 for the full year of 2022, compared with diluted earnings per common share of $6.25 for the full year of 2021. Net income for the year was $225.8 million, down 10.9% from the previous year. Return on average assets for the full year of 2022 was 0.98%, compared to 1.14% in 2021. Return on average common equity for the full year of 2022 was 17.83% compared to 17.92% in 2021.

Diluted earnings per common share for the fourth quarter of 2022 was $1.50, compared with diluted earnings per common share of $1.28 in the previous quarter and $1.55 in the same quarter last year. Net income for the fourth quarter of 2022 was $61.3 million, up 16.1% from the third quarter of 2022 and down 4.0% from the fourth quarter of 2021. The increase from the third quarter of 2022 was primarily due to a one-time charge in the third quarter related to our agreement to sell assets that terminated certain leveraged leases.

"Bank of Hawai'i ended 2022 with strong financial performance," said Peter Ho, Chairman, President, and CEO. "As we look forward into 2023, we are well positioned for a challenging environment, thanks to our leading market position, superior credit quality, disciplined expense management, and strong liquidity and capital."

#### Financial Highlights
• **The return on average assets for the fourth quarter of 2022 was 1.05% compared with 0.91% in the previous quarter and 1.12% in the same quarter of 2021.** 

• **The return on average common equity for the fourth quarter of 2022 was 21.28% compared with 16.98% in the previous quarter and 17.40% in the same quarter of 2021.** 

- more -

![](g25ud5lmexll000002.jpg)

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| | |
|:---|:---|
| **Bank of Hawaii Corporation Fourth Quarter 2022 Financial Results**  | **Page 2** |

---

• Net interest income for the fourth quarter of 2022 was $140.7 million, a decrease of 0.6% from the third quarter of 2022 and an increase of 11.4% from the fourth quarter of 2021. Net interest margin was 2.60% in the fourth quarter of 2022, unchanged from the previous quarter and an increase of 26 basis points from the same quarter of 2021.

o The increase in net interest income and margin in the fourth quarter of 2022 compared to the prior year was due to the higher rate environment and strong loan growth over the year.

• There was a $0.2 million provision for credit losses for the fourth quarter of 2022 compared with no provision in the previous quarter and a net benefit of $9.7 million in the same quarter of 2021.

• Noninterest income was $41.2 million in the fourth quarter of 2022, an increase of 34.3% from the previous quarter and a decrease of 3.3% from the same quarter of 2021.

o Noninterest income in the third quarter of 2022 included a one-time pre-tax charge of $6.9 million related to our agreement to sell assets that terminated leveraged leases related to 31 locomotives. In addition, noninterest income in the third quarter also included a negative adjustment of $0.9 million related to a change in the Visa Class B conversion ratio.

• Noninterest expense was $102.7 million in the fourth quarter of 2022, a decrease of 2.9% from the previous quarter and an increase of 1.0% from the same quarter of 2021 .

o Noninterest expense in the third quarter of 2022 included $1.8 million in separation expenses.

• The effective tax rate for the fourth quarter of 2022 was 22.4% compared with 20.7% in the previous quarter and 17.1% during the same quarter of 2021.

o The lower effective tax rate in the prior quarter was primarily due to tax benefits related to the aforementioned agreement to sell assets that terminated certain leveraged leases.

o The lower effective tax rate in the fourth quarter of 2021 included a $3.6 million benefit due to larger than expected tax credits from 2020 and a reduction in the valuation allowance related to low-income housing partnerships.

#### Asset Quality
The Company's overall asset quality remained strong during the fourth quarter of 2022.

• Total non-performing assets were $12.6 million at December 31, 2022, down $1.2 million from September 30, 2022 and down $6.3 million from December 31, 2021. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.09% at the end of the quarter, a decrease of 1 basis point from the end of the prior quarter and a decrease of 6 basis points from the same quarter of 2021.

• Net loan and lease charge-offs during the fourth quarter of 2022 were $1.9 million or 0.05% annualized of total average loans and leases outstanding.

o Net loan and lease charge-offs for the fourth quarter of 2022 were comprised of charge-offs of $3.2 million partially offset by recoveries of $1.4 million .

o Compared to the prior quarter, n et loan and lease charge-offs increased by $0.7 million or 2 basis points annualized on total average loans and leases outstanding.

o Compared to the same quarter of 2021, n et loan and lease charge-offs increased by $1.2 million or 3 basis points annualized on total average loans and leases outstanding.

- more –

------

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| | |
|:---|:---|
| **Bank of Hawaii Corporation Fourth Quarter 2022 Financial Results**  | **Page 3** |

---

• The allowance for credit losses on loans and leases was $144.4 million at December 31, 2022, a decrease of $2.0 million from September 30, 2022 and a decrease of $13.4 million from December 31, 2021. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.06% at the end of the quarter, down 4 basis points from the end of the prior quarter and down 23 basis points from the end of the same quarter of 2021.

#### Balance Sheet
• Total assets were $23.6 billion at December 31, 2022, an increase of 2.0% from September 30, 2022 and an increase of 3.6% from December 31, 2021.

• The investment securities portfolio was $8.3 billion at December 31, 2022 , an increase of 4.7% from September 30, 2022 and a decrease of 7.9% from December 31, 2021.

o The investment portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

• Total loans and leases were $13.6 billion at December 31, 2022, an increase of 2.4% from September 30, 2022 and an increase of 11.3% from December 31, 2021.

o Total loans and leases excluding PPP loans were $13.6 billion at December 31, 2022, an increase of 2.5% from September 30, 2022 and an increase of 12.3% from December 31, 2021.

• Total deposits were $20.6 billion at December 31, 2022, a decrease of 1.3% from September 30, 2022 and an increase of 1.3% from December 31, 2021.

#### Capital and Dividends
• The Tier 1 Capital Ratio was 12.15% at December 31, 2022 compared with 12.72% at September 30, 2022 and 13.56% at December 31, 2021.

• The Tier 1 Leverage Ratio was 7.37% at December 31, 2022 compared with 7.28% at September 30, 2022 and 7.32% at December 31, 2021.

• The Company repurchased 192.3 thousand shares of common stock at a total cost of $15.0 million under its share repurchase program in the fourth quarter of 2022 at an average cost of $77.77 per share repurchased.

o The Company's Board of Directors increased the authorization under the share repurchase program by an additional $100.0 million. Total remaining buyback authority under the share repurchase program was $135.9 million at January 20, 2023.

• The Company's Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company's outstanding common shares. The dividend will be payable on March 14, 2023 to shareholders of record at the close of business on February 28, 2023.

- more -

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| | |
|:---|:---|
| **Bank of Hawaii Corporation Fourth Quarter 2022 Financial Results**  | **Page 4** |

---

• On January 4, 2023, the Board of Directors declared the quarterly dividend payment of $10.94 per share, equivalent to $0.2735 per depositary share, on its preferred stock . The depositary shares representing the Series A Preferred Stock are traded on the NYSE under the symbol "BOH.PRA." The dividend will be payable on February 1, 2023 to shareholders of record of the preferred stock at the close of business on January 17, 2023.

#### Conference Call Information
The Company will review its fourth quarter financial results today at 8:00 a.m. Hawaii Time (1:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai'i Corporation's website, <u>www.boh.com</u>.

• The webcast can be accessed via the link below: <u>https://register.vevent.com/register/BIdfc785c2e350424681d5c04507f9b94f</u> **.** 

• A replay of the conference call will be available for one year beginning approximately 11:00 a.m. Hawaii Time on Monday, January 23, 2023. The replay will be accessible via the same link. In addition, the replay will be available on the Company's website, <u>www.boh.com</u>.

#### Forward-Looking Statements
This news release, and other statements made by the Company in connection with it may contain "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties that could cause results to be materially different from expectations. Forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations are examples of certain of these forward-looking statements. Do not unduly rely on forward-looking statements. Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawai'i Corporation's Annual Report on Form 10-K for the year ended December 31, 2021 and its Form 10-Q for the fiscal quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, which were filed with the U.S. Securities and Exchange Commission. These forward-looking statements are not guarantees of future performance and speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

*Bank of Hawai'i Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawaii and the West Pacific. The Company's principal subsidiary, Bank of Hawai'i, was founded in 1897. For more information about Bank of Hawai'i Corporation, see the Company's web site, <u>www.boh.com</u>. Bank of Hawai'i Corporation is a trade name of Bank of Hawaii Corporation.*

#### # # # #

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Financial Highlights** |  |  |  |  | **Table 1** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| (dollars in thousands, except per share amounts) | **2022** | **2022** | **2021** | **2022** | **2021** |
| **<u>For the Period:</u>** |  |  |  |  |  |
| **Operating Results** |  |  |  |  |  |
| Net Interest Income | $140738 | $141655 | $126388 | $540558 | $497290 |
| Provision for Credit Losses | 200 | - | (9700) | (7800) | (50500) |
| Total Noninterest Income | 41172 | 30660 | 42574 | 157541 | 171353 |
| Total Noninterest Expense | 102703 | 105749 | 101678 | 415265 | 393589 |
| Pre-Provision Net Revenue | 79207 | 66566 | 67284 | 282834 | 275054 |
| Net Income | 61307 | 52801 | 63837 | 225804 | 253372 |
| Net Income Available to Common Shareholders | 59338 | 50832 | 61868 | 217928 | 250397 |
| Basic Earnings Per Common Share | 1.51 | 1.28 | 1.56 | 5.50 | 6.29 |
| Diluted Earnings Per Common Share | 1.50 | 1.28 | 1.55 | 5.48 | 6.25 |
| Dividends Declared Per Common Share | 0.70 | 0.70 | 0.70 | 2.80 | 2.74 |
| **Performance Ratios** |  |  |  |  |  |
| Return on Average Assets | 1.05% | 0.91% | 1.12% | 0.98% | 1.14% |
| Return on Average Shareholders' Equity | 18.91 | 15.31 | 15.92 | 16.10 | 16.94 |
| Return on Average Common Equity | 21.28 | 16.98 | 17.40 | 17.83 | 17.92 |
| Efficiency Ratio <sup>1</sup> | 56.46 | 61.37 | 60.18 | 59.49 | 58.86 |
| Net Interest Margin <sup>2</sup> | 2.60 | 2.60 | 2.34 | 2.50 | 2.36 |
| Dividend Payout Ratio <sup>3</sup> | 46.36 | 54.69 | 44.87 | 50.91 | 43.56 |
| Average Shareholders' Equity to Average Assets | 5.56 | 5.91 | 7.02 | 6.10 | 6.73 |
| **Average Balances** |  |  |  |  |  |
| Average Loans and Leases | $13452791 | $13126717 | $12086705 | $12896510 | $12023669 |
| Average Assets | 23147398 | 23135820 | 22666280 | 23006671 | 22227156 |
| Average Deposits | 20341327 | 20863681 | 20222470 | 20550739 | 19771147 |
| Average Shareholders' Equity | 1286291 | 1367946 | 1590600 | 1402533 | 1495586 |
| **Per Share of Common Stock** |  |  |  |  |  |
| **Book Value** | $28.54 | $27.55 | $35.57 | $28.54 | $35.57 |
| **Tangible Book Value** | 27.75 | 26.76 | 34.78 | 27.75 | 34.78 |
| **Market Value** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Closing | 77.56 | 76.12 | 83.76 | 77.56 | 83.76 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;High | 82.87 | 85.45 | 88.96 | 92.38 | 99.10 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Low | 70.15 | 70.89 | 78.73 | 70.15 | 75.65 |
|  |  |  | **December 31,** | **September 30,** | **December 31,** |
|  |  |  | **2022** | **2022** | **2021** |
| **<u>As of Period End:</u>** |  |  |  |  |  |
| **Balance Sheet Totals** |  |  |  |  |  |
| Loans and Leases |  |  | $13646420 | $13321606 | $12259076 |
| Total Assets |  |  | 23606877 | 23134040 | 22784941 |
| Total Deposits |  |  | 20615696 | 20888773 | 20360108 |
| Other Debt |  |  | 410294 | 10319 | 10391 |
| Total Shareholders' Equity |  |  | 1316995 | 1282384 | 1611611 |
| **Asset Quality** |  |  |  |  |  |
| Non-Performing Assets |  |  | $12647 | $13868 | $18966 |
| Allowance for Credit Losses - Loans and Leases |  |  | 144439 | 146436 | 157821 |
| Allowance to Loans and Leases Outstanding <sup>4</sup> |  |  | 1.06% | 1.10% | 1.29% |
| **Capital Ratios <sup>5</sup>** |  |  |  |  |  |
| Common Equity Tier 1 Capital Ratio |  |  | 10.92% | 11.42% | 12.12% |
| Tier 1 Capital Ratio |  |  | 12.15 | 12.72 | 13.56 |
| Total Capital Ratio |  |  | 13.17 | 13.82 | 14.81 |
| Tier 1 Leverage Ratio |  |  | 7.37 | 7.28 | 7.32 |
| Total Shareholders' Equity to Total Assets |  |  | 5.58 | 5.54 | 7.07 |
| Tangible Common Equity to Tangible Assets <sup>6</sup> |  |  | 4.69 | 4.64 | 6.15 |
| Tangible Common Equity to Risk-Weighted Assets <sup>6</sup> |  |  | 7.76 | 7.97 | 11.44 |
| **Non-Financial Data** |  |  |  |  |  |
| Full-Time Equivalent Employees |  |  | 2076 | 2115 | 2056 |
| Branches |  |  | 51 | 51 | 54 |
| ATMs |  |  | 320 | 316 | 307 |

---

<sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).

<sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

<sup>3</sup> Dividend payout ratio is defined as dividends declared per common share divided by basic earnings per common share.

<sup>4</sup> The numerator comprises the Allowance for Credit Losses - Loans and Leases.

<sup>5</sup> Regulatory capital ratios as of December 31, 2022 are preliminary.

<sup>6</sup> Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures.

Tangible common equity is defined by the Company as common shareholders' equity minus goodwill.

See Table 2 "Reconciliation of Non-GAAP Financial Measures".

------

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| | | | |
|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Reconciliation of Non-GAAP Financial Measures** | **Reconciliation of Non-GAAP Financial Measures** | **Reconciliation of Non-GAAP Financial Measures** | **Table 2** |
|  | **December 31,** | **September 30,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2021** |
| Total Shareholders' Equity | $1316995 | $1282384 | $1611611 |
| Less: Preferred Stock | 180000 | 180000 | 180000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 31517 | 31517 | 31517 |
| Tangible Common Equity | $1105478 | $1070867 | $1400094 |
| Total Assets | 23606877 | 23134040 | 22784941 |
| Less: Goodwill | 31517 | 31517 | 31517 |
| Tangible Assets | $23575360 | $23102523 | $22753424 |
| Risk-Weighted Assets, determined in accordance |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;with prescribed regulatory requirements <sup>1</sup> | $14238798 | $13428188 | $12236805 |
| Total Shareholders' Equity to Total Assets | 5.58% | 5.54% | 7.07% |
| Tangible Common Equity to Tangible Assets (Non-GAAP) | 4.69% | 4.64% | 6.15% |
| Tier 1 Capital Ratio <sup>1</sup> | 12.15% | 12.72% | 13.56% |
| Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) <sup>1</sup> | 7.76% | 7.97% | 11.44% |

---

<sup>1</sup> Regulatory capital ratios as of December 31, 2022 are preliminary.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** |  |  | **Table 3** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| (dollars in thousands, except per share amounts) | **2022** | **2022** | **2021** | **2022** | **2021** |
| Interest Income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest and Fees on Loans and Leases | $128683 | $115013 | $97853 | $439798 | $398616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income on Investment Securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available-for-Sale | 18476 | 16995 | 15850 | 70555 | 64550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Held-to-Maturity | 23708 | 20243 | 18325 | 81490 | 61955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposits | 13 | 10 | 1 | 32 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp; Funds Sold | 1093 | 2335 | 104 | 4274 | 883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 340 | 322 | 176 | 1217 | 702 |
| Total Interest Income | 172313 | 154918 | 132309 | 597366 | 526716 |
| Interest Expense |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposits | 23494 | 10296 | 2898 | 39678 | 15216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities Sold Under Agreements to Repurchase | 4289 | 2745 | 2834 | 12600 | 13260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Funds Purchased | 318 | 40 | 6 | 417 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Borrowings | 1978 | - | - | 2070 | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Other Debt | 1496 | 182 | 183 | 2043 | 943 |
| Total Interest Expense | 31575 | 13263 | 5921 | 56808 | 29426 |
| **Net Interest Income** | 140738 | 141655 | 126388 | 540558 | 497290 |
| Provision for Credit Losses | 200 | - | (9700) | (7800) | (50500) |
| Net Interest Income After Provision for Credit Losses | 140538 | 141655 | 136088 | 548358 | 547790 |
| Noninterest Income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Trust and Asset Management | 10652 | 10418 | 11693 | 43803 | 46068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage Banking | 991 | 1002 | 2908 | 5980 | 14964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Service Charges on Deposit Accounts | 7513 | 7526 | 6861 | 29620 | 25564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fees, Exchange, and Other Service Charges | 13906 | 13863 | 14439 | 54914 | 55457 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Securities Losses, Net | (1124) | (2147) | (1258) | (6111) | (1297) |
| &nbsp;&nbsp;&nbsp;&nbsp; Annuity and Insurance | 1087 | 1034 | 876 | 3782 | 3224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank-Owned Life Insurance | 2475 | 2486 | 1907 | 9968 | 7784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 5672 | (3522) | 5148 | 15585 | 19589 |
| **Total Noninterest Income** | 41172 | 30660 | 42574 | 157541 | 171353 |
| Noninterest Expense |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Salaries and Benefits | 57639 | 59938 | 59434 | 235270 | 228293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Occupancy | 9499 | 10186 | 9028 | 39441 | 26244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Equipment | 9942 | 9736 | 9105 | 38374 | 35703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Data Processing | 4579 | 4616 | 4696 | 18362 | 20297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Fees | 3958 | 3799 | 3427 | 14557 | 12895 |
| &nbsp;&nbsp;&nbsp;&nbsp; FDIC Insurance | 1774 | 1680 | 1619 | 6546 | 6536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 15312 | 15794 | 14369 | 62715 | 63621 |
| **Total Noninterest Expense** | 102703 | 105749 | 101678 | 415265 | 393589 |
| Income Before Provision for Income Taxes | 79007 | 66566 | 76984 | 290634 | 325554 |
| Provision for Income Taxes | 17700 | 13765 | 13147 | 64830 | 72182 |
| **Net Income** | $61307 | $52801 | $63837 | $225804 | $253372 |
| Preferred Stock Dividends | 1969 | 1969 | 1969 | 7877 | 2975 |
| **Net Income Available to Common Shareholders** | $59338 | $50832 | $61868 | $217927 | $250397 |
| Basic Earnings Per Common Share | $1.51 | $1.28 | $1.56 | $5.50 | $6.29 |
| Diluted Earnings Per Common Share | $1.50 | $1.28 | $1.55 | $5.48 | $6.25 |
| Dividends Declared Per Common Share | $0.70 | $0.70 | $0.70 | $2.80 | $2.74 |
| Basic Weighted Average Common Shares | 39395338 | 39567047 | 39741063 | 39601089 | 39837798 |
| Diluted Weighted Average Common Shares | 39618896 | 39758209 | 39955525 | 39788002 | 40053664 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Consolidated Statements of Comprehensive Income (Loss)** | **Consolidated Statements of Comprehensive Income (Loss)** | **Consolidated Statements of Comprehensive Income (Loss)** | **Consolidated Statements of Comprehensive Income (Loss)** |  | **Table 4** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2021** | **2022** | **2021** |
| Net Income | $61307 | $52801 | $63837 | $225804 | $253372 |
| Other Comprehensive Loss, Net of Tax: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net Unrealized Gains (Losses) on Investment Securities | 5677 | (79600) | (26244) | (376694) | (83958) |
| &nbsp;&nbsp;&nbsp; Defined Benefit Plans | 7359 | 354 | 8430 | 8418 | 9754 |
| Other Comprehensive Income (Loss) | 13036 | (79246) | (17814) | (368276) | (74204) |
| Comprehensive Income (Loss) | $74343 | $(26445) | $46023 | $(142472) | $179168 |

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| | | | |
|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Consolidated Statements of Condition** | **Consolidated Statements of Condition** | **Consolidated Statements of Condition** | **Table 5** |
|  | **December 31,** | **September 30,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2021** |
| **Assets** |  |  |  |
| Interest-Bearing Deposits in Other Banks | $3724 | $5429 | $2571 |
| Funds Sold | 81364 | 402714 | 361536 |
| Investment Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Available-for-Sale | 2844823 | 2424608 | 4276056 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Held-to-Maturity (Fair Value of $4,615,393; $4,668,074; and $4,646,619) | 5414139 | 5461160 | 4694780 |
| Loans Held for Sale | 1035 | 418 | 26746 |
| Loans and Leases | 13646420 | 13321606 | 12259076 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Allowance for Credit Losses | (144439) | (146436) | (157821) |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Loans and Leases | 13501981 | 13175170 | 12101255 |
| Total Earning Assets | 21847066 | 21469499 | 21462944 |
| Cash and Due from Banks | 316679 | 247506 | 196327 |
| Premises and Equipment, Net | 206777 | 208251 | 199393 |
| Operating Lease Right-of-Use Assets | 92307 | 94613 | 95621 |
| Accrued Interest Receivable | 61002 | 50143 | 45242 |
| Foreclosed Real Estate | 1040 | 1040 | 2332 |
| Mortgage Servicing Rights | 22619 | 23104 | 22251 |
| Goodwill | 31517 | 31517 | 31517 |
| Bank-Owned Life Insurance | 453882 | 451407 | 344587 |
| Other Assets | 573988 | 556960 | 384727 |
| **Total Assets** | $23606877 | $23134040 | $22784941 |
| **Liabilities** |  |  |  |
| Deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-Bearing Demand | $6714982 | $7300157 | $7275287 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Interest-Bearing Demand | 4232567 | 4399625 | 4628567 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Savings | 7962410 | 7954006 | 7456165 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Time | 1705737 | 1234985 | 1000089 |
| Total Deposits | 20615696 | 20888773 | 20360108 |
| Securities Sold Under Agreements to Repurchase | 725490 | 425490 | 450490 |
| Other Debt | 410294 | 10319 | 10391 |
| Operating Lease Liabilities | 100526 | 102705 | 103210 |
| Retirement Benefits Payable | 26991 | 37053 | 38494 |
| Accrued Interest Payable | 9698 | 3405 | 2499 |
| Taxes Payable | 7104 | 13527 | 11901 |
| Other Liabilities | 394083 | 370384 | 196237 |
| **Total Liabilities** | 22289882 | 21851656 | 21173330 |
| **Shareholders' Equity** |  |  |  |
| Preferred Stock ($.01 par value; authorized 180,000 shares; |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued / outstanding: December 31, 2022; September 30, 2022; and December 31, 2021 - 180,000) | 180000 | 180000 | 180000 |
| Common Stock ($.01 par value; authorized 500,000,000 shares; |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued / outstanding: December 31, 2022 - 58,733,625 / 39,835,750; |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 30, 2022 - 58,728,796 / 40,011,473; and December 31, 2021 - 58,554,669 / 40,253,193) | 582 | 582 | 581 |
| Capital Surplus | 620578 | 615985 | 602508 |
| Accumulated Other Comprehensive Loss | (434658) | (447694) | (66382) |
| Retained Earnings | 2055912 | 2024641 | 1950375 |
| Treasury Stock, at Cost (Shares: December 31, 2022 - 18,897,875; September 30, 2022 - 18,717,323; |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and December 31, 2021 - 18,301,476) | (1105419) | (1091130) | (1055471) |
| **Total Shareholders' Equity** | 1316995 | 1282384 | 1611611 |
| **Total Liabilities and Shareholders' Equity** | $23606877 | $23134040 | $22784941 |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** | **Consolidated Statements of Shareholders' Equity** |  | **Table 6** |
|  |  |  |  |  |  | **Accumulated** |  |  |  |
|  |  |  |  |  |  | **Other** |  |  |  |
|  | **Preferred** |  | **Common** |  |  | **Comprehensive** |  |  |  |
|  | **Shares** | **Preferred** | **Shares** | **Common** | **Capital** | **Income** | **Retained** | **Treasury** |  |
| (dollars in thousands) | **Outstanding** | **Stock** | **Outstanding** | **Stock** | **Surplus** | (Loss) | **Earnings** | **Stock** | **Total** |
| **Balance as of December 31, 2020** | - | $- | 40119312 | $580 | $591360 | $7822 | $1811979 | $(1037234) | $1374507 |
| Net Income | - | - | - | - | - | - | 253372 | - | 253372 |
| Other Comprehensive Loss | - | - | - | - | - | (74204) | - | - | (74204) |
| Share-Based Compensation | - | - | - | - | 13267 | - | - | - | 13267 |
| Preferred Stock Issued, Net | 180000 | 180000 | - | - | (4513) | - | - | - | 175487 |
| Common Stock Issued under Purchase and Equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation Plans and Related Tax Benefits | - | - | 507121 | 1 | 2394 | - | (1368) | 13021 | 14048 |
| Common Stock Repurchased | - | - | (373240) | - | - | - | - | (31258) | (31258) |
| Cash Dividends Declared Common Stock ($2.74 per share) | - | - | - | - | - | - | (110633) | - | (110633) |
| Cash Dividends Declared Preferred Stock | - | - | - | - | - | - | (2975) | - | (2975) |
| **Balance as of December 31, 2021** | 180000 | $180000 | 40253193 | $581 | $602508 | $(66382) | $1950375 | $(1055471) | $1611611 |
| Net Income | - | - | - | - | - | - | 225804 | - | 225804 |
| Other Comprehensive Loss | - | - | - | - | - | (368276) | - | - | (368276) |
| Share-Based Compensation | - | - | - | - | 16066 | - | - | - | 16066 |
| Common Stock Issued under Purchase and Equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation Plans and Related Tax Benefits | - | - | 272007 | 1 | 2004 | - | 167 | 5115 | 7287 |
| Common Stock Repurchased | - | - | (689450) | - | - | - | - | (55063) | (55063) |
| Cash Dividends Declared Common Stock ($2.80 per share) | - | - | - | - | - | - | (112557) | - | (112557) |
| Cash Dividends Declared Preferred Stock | - | - | - | - | - | - | (7877) | - | (7877) |
| **Balance as of December 31, 2022** | 180000 | $180000 | 39835750 | $582 | $620578 | $(434658) | $2055912 | $(1105419) | $1316995 |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Table 7a** | **Table 7a** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **Average** | **Income/** | **Yield/** | **Average** | **Income/** | **Yield/** | **Average** | **Income/** | **Yield/** |
| (dollars in millions) | **Balance** | **Expense <sup>2</sup>** | **Rate** | **Balance** | **Expense <sup>2</sup>** | **Rate** | **Balance** | **Expense <sup>2</sup>** | **Rate** |
| **Earning Assets** |  |  |  |  |  |  |  |  |  |
| Interest-Bearing Deposits in Other Banks | 2.2 | - | 2.32% | 2.9 | - | 1.32% | 2.2 | - | 0.05% |
| Funds Sold | 118.1 | 1.2 | 3.62 | 411.8 | 2.3 | 2.22 | 273.2 | 0.1 | 0.15 |
| Investment Securities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Available-for-Sale |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 2593.5 | 18.4 | 2.83 | 3481.9 | 17.0 | 1.95 | 4308.6 | 15.8 | 1.47 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | 7.5 | 0.1 | 4.14 | 2.5 | - | 1.56 | 5.8 | 0.1 | 3.67 |
| &nbsp;&nbsp;&nbsp;&nbsp; Held-to-Maturity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 5401.9 | 23.5 | 1.74 | 4645.7 | 20.1 | 1.73 | 4757.4 | 18.1 | 1.52 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | 35.4 | 0.2 | 2.10 | 35.6 | 0.2 | 2.10 | 58.0 | 0.3 | 2.31 |
| Total Investment Securities | 8038.3 | 42.2 | 2.10 | 8165.7 | 37.3 | 1.82 | 9129.8 | 34.3 | 1.50 |
| Loans Held for Sale | 3.3 | - | 5.65 | 4.3 | 0.1 | 4.46 | 20.8 | 0.1 | 2.85 |
| Loans and Leases <sup>3</sup> |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | 1379.9 | 14.8 | 4.25 | 1353.8 | 12.5 | 3.66 | 1297.0 | 8.9 | 2.72 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paycheck Protection Program | 21.3 | 0.1 | 2.30 | 28.0 | 0.2 | 3.02 | 181.0 | 5.7 | 12.55 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage | 3627.4 | 40.6 | 4.44 | 3530.9 | 33.3 | 3.74 | 3075.1 | 22.2 | 2.86 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction | 246.9 | 3.3 | 5.29 | 233.0 | 2.8 | 4.81 | 246.8 | 2.2 | 3.50 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Lease Financing | 72.0 | 0.3 | 1.49 | 89.1 | 0.4 | 1.58 | 107.4 | 0.3 | 1.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | 4617.9 | 38.9 | 3.37 | 4526.6 | 37.4 | 3.30 | 4293.6 | 33.9 | 3.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Equity | 2207.7 | 17.9 | 3.23 | 2144.8 | 16.4 | 3.04 | 1757.8 | 12.8 | 2.88 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile | 851.1 | 7.0 | 3.29 | 795.5 | 6.4 | 3.19 | 730.2 | 6.1 | 3.34 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other <sup>4</sup> | 428.6 | 6.1 | 5.64 | 425.0 | 5.9 | 5.48 | 397.8 | 5.8 | 5.79 |
| Total Loans and Leases | 13452.8 | 129.0 | 3.81 | 13126.7 | 115.3 | 3.49 | 12086.7 | 97.9 | 3.22 |
| Other | 50.1 | 0.4 | 2.72 | 36.9 | 0.3 | 3.49 | 34.4 | 0.2 | 2.05 |
| **Total Earning Assets** | 21664.8 | 172.8 | 3.17 | 21748.3 | 155.3 | 2.84 | 21547.1 | 132.6 | 2.45 |
| Cash and Due from Banks | 244.3 |  |  | 233.5 |  |  | 231.3 |  |  |
| Other Assets | 1238.3 |  |  | 1154.0 |  |  | 887.9 |  |  |
| **Total Assets** | 23147.4 |  |  | 23135.8 |  |  | 22666.3 |  |  |
| **Interest-Bearing Liabilities** |  |  |  |  |  |  |  |  |  |
| Interest-Bearing Deposits |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Demand | 4131.4 | 3.5 | 0.33 | 4286.0 | 1.4 | 0.13 | 4685.7 | 0.7 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp; Savings | 7869.9 | 13.4 | 0.68 | 7962.0 | 6.6 | 0.33 | 7443.2 | 1.2 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time | 1467.7 | 6.6 | 1.78 | 1146.9 | 2.3 | 0.79 | 1019.2 | 1.0 | 0.40 |
| Total Interest-Bearing Deposits | 13469.0 | 23.5 | 0.69 | 13394.9 | 10.3 | 0.30 | 13148.1 | 2.9 | 0.09 |
| Short-Term Borrowings | 234.9 | 2.3 | 3.82 | 4.9 | 0.1 | 3.17 | 18.5 | - | 0.13 |
| Securities Sold Under Agreements to Repurchase | 594.5 | 4.3 | 2.82 | 425.5 | 2.7 | 2.52 | 450.5 | 2.8 | 2.46 |
| Other Debt | 137.5 | 1.5 | 4.32 | 10.3 | 0.2 | 7.05 | 10.4 | 0.2 | 7.05 |
| **Total Interest-Bearing Liabilities** | 14435.9 | 31.6 | 0.87 | 13835.6 | 13.3 | 0.38 | 13627.5 | 5.9 | 0.17 |
| **Net Interest Income** |  | 141.2 |  |  | 142.0 |  |  | 126.7 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Spread |  |  | 2.30% |  |  | 2.46% |  |  | 2.28% |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Interest Margin |  |  | 2.60% |  |  | 2.60% |  |  | 2.34% |
| Noninterest-Bearing Demand Deposits | 6872.3 |  |  | 7468.8 |  |  | 7074.4 |  |  |
| Other Liabilities | 552.9 |  |  | 463.5 |  |  | 373.8 |  |  |
| Shareholders' Equity | 1286.3 |  |  | 1367.9 |  |  | 1590.6 |  |  |
| **Total Liabilities and Shareholders' Equity** | 23147.4 |  |  | 23135.8 |  |  | 22666.3 |  |  |
| <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. |
| <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $433,000, $343,000, and $280,000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively. |
| <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. |
| <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |  |
| **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Average Balances and Interest Rates - Taxable-Equivalent Basis <sup>1</sup>** | **Table 7b** | **Table 7b** |
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **Average** | **Income/** | **Yield/** | **Average** | **Income/** | **Yield/** |
| (dollars in millions) | **Balance** | **Expense <sup>2</sup>** | **Rate** | **Balance** | **Expense <sup>2</sup>** | **Rate** |
| **Earning Assets** |  |  |  |  |  |  |
| Interest-Bearing Deposits in Other Banks | 3.0 | - | 1.05% | 2.7 | - | 0.36% |
| Funds Sold | 260.5 | 4.3 | 1.64 | 692.4 | 0.9 | 0.13 |
| Investment Securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Available-for-Sale |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 3644.2 | 70.5 | 1.93 | 4266.9 | 64.2 | 1.50 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | 4.0 | 0.1 | 2.92 | 10.1 | 0.4 | 4.21 |
| &nbsp;&nbsp;&nbsp;&nbsp; Held-to-Maturity |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 4750.0 | 80.9 | 1.70 | 3988.1 | 61.0 | 1.53 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | 35.6 | 0.7 | 2.10 | 50.7 | 1.2 | 2.41 |
| Total Investment Securities | 8433.8 | 152.2 | 1.80 | 8315.8 | 126.8 | 1.53 |
| Loans Held for Sale | 6.9 | 0.3 | 3.70 | 24.3 | 0.7 | 2.82 |
| Loans and Leases <sup>3</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | 1349.3 | 46.2 | 3.42 | 1285.1 | 37.1 | 2.88 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paycheck Protection Program | 44.0 | 2.7 | 6.07 | 453.9 | 25.7 | 5.67 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage | 3420.1 | 121.9 | 3.56 | 2940.0 | 86.7 | 2.95 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction | 232.6 | 10.6 | 4.56 | 271.6 | 9.5 | 3.50 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Lease Financing | 88.5 | 1.3 | 1.49 | 107.2 | 1.5 | 1.42 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | 4484.2 | 147.4 | 3.29 | 4232.4 | 140.1 | 3.31 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Equity | 2072.2 | 62.1 | 3.00 | 1637.1 | 49.6 | 3.03 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile | 786.1 | 25.4 | 3.23 | 717.0 | 24.6 | 3.43 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other <sup>4</sup> | 419.5 | 23.0 | 5.49 | 379.4 | 23.9 | 6.30 |
| Total Loans and Leases | 12896.5 | 440.6 | 3.42 | 12023.7 | 398.7 | 3.32 |
| Other | 40.5 | 1.2 | 3.01 | 32.9 | 0.7 | 2.13 |
| **Total Earning Assets** | 21641.2 | 598.6 | 2.77 | 21091.8 | 527.8 | 2.50 |
| Cash and Due from Banks | 237.4 |  |  | 252.5 |  |  |
| Other Assets | 1128.1 |  |  | 882.9 |  |  |
| **Total Assets** | 23006.7 |  |  | 22227.2 |  |  |
| **Interest-Bearing Liabilities** |  |  |  |  |  |  |
| Interest-Bearing Deposits |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Demand | 4377.1 | 6.1 | 0.14 | 4509.8 | 2.7 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp; Savings | 7767.7 | 22.9 | 0.30 | 7421.9 | 6.2 | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time | 1135.5 | 10.7 | 0.94 | 1331.8 | 6.3 | 0.47 |
| Total Interest-Bearing Deposits | 13280.3 | 39.7 | 0.30 | 13263.5 | 15.2 | 0.11 |
| Short-Term Borrowings | 77.1 | 2.5 | 3.23 | 5.2 | - | 0.13 |
| Securities Sold Under Agreements to Repurchase | 479.8 | 12.6 | 2.63 | 541.9 | 13.3 | 2.45 |
| Other Debt | 42.4 | 2.0 | 4.82 | 27.7 | 0.9 | 3.41 |
| **Total Interest-Bearing Liabilities** | 13879.6 | 56.8 | 0.41 | 13838.3 | 29.4 | 0.21 |
| **Net Interest Income** |  | 541.8 |  |  | 498.4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Spread |  |  | 2.36% |  |  | 2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Interest Margin |  |  | 2.50% |  |  | 2.36% |
| Noninterest-Bearing Demand Deposits | 7270.4 |  |  | 6507.6 |  |  |
| Other Liabilities | 454.2 |  |  | 385.7 |  |  |
| Shareholders' Equity | 1402.5 |  |  | 1495.6 |  |  |
| **Total Liabilities and Shareholders' Equity** | 23006.7 |  |  | 22227.2 |  |  |
| <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. | <sup>1</sup> Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. |
| <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 | <sup>2</sup> Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1,251,000 and $1,116,000 |
| &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;for the year ended December 31, 2022 and December 31, 2021, respectively. |
| <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. | <sup>3</sup> Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis. |
| <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>4</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. |

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.

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| | | | |
|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Table 8a** |
|  | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** |
|  | **Compared to September 30, 2022** | **Compared to September 30, 2022** | **Compared to September 30, 2022** |
| (dollars in millions) | **Volume <sup>1</sup>** | **Rate <sup>1</sup>** | **Total** |
| Change in Interest Income: |  |  |  |
| Funds Sold | $(2.1) | $1.0 | $(1.1) |
| Investment Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Available-for-Sale |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | (5.1) | 6.5 | 1.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | 0.1 | - | 0.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Held-to-Maturity |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 3.2 | 0.2 | 3.4 |
| Total Investment Securities | (1.8) | 6.7 | 4.9 |
| Loans Held for Sale | (0.1) | - | (0.1) |
| Loans and Leases |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial and Industrial | 0.3 | 2.0 | 2.3 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Paycheck Protection Program | (0.1) | - | (0.1) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage | 0.9 | 6.4 | 7.3 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Construction | 0.2 | 0.3 | 0.5 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Lease Financing | (0.1) | - | (0.1) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage | 0.8 | 0.7 | 1.5 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Home Equity | 0.5 | 1.0 | 1.5 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 0.4 | 0.2 | 0.6 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>2</sup> | - | 0.2 | 0.2 |
| Total Loans and Leases | 2.9 | 10.8 | 13.7 |
| Other | 0.4 | (0.3) | 0.1 |
| **Total Change in Interest Income** | (0.7) | 18.2 | 17.5 |
| Change in Interest Expense: |  |  |  |
| Interest-Bearing Deposits |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Demand | - | 2.1 | 2.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Savings | (0.1) | 6.9 | 6.8 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Time | 0.8 | 3.5 | 4.3 |
| Total Interest-Bearing Deposits | 0.7 | 12.5 | 13.2 |
| Short-Term Borrowings | 2.2 | - | 2.2 |
| Securities Sold Under Agreements to Repurchase | 1.2 | 0.4 | 1.6 |
| Other Debt | 1.4 | (0.1) | 1.3 |
| **Total Change in Interest Expense** | 5.5 | 12.8 | 18.3 |
| **Change in Net Interest Income** | $(6.2) | $5.4 | $(0.8) |
| <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. |
| <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. |

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| | | | |
|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Table 8b** |
|  | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** |
|  | **Compared to December 31, 2021** | **Compared to December 31, 2021** | **Compared to December 31, 2021** |
| (dollars in millions) | **Volume <sup>1</sup>** | **Rate <sup>1</sup>** | **Total** |
| Change in Interest Income: |  |  |  |
| Funds Sold | $(0.1) | $1.2 | $1.1 |
| Investment Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Available-for-Sale |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | (8.1) | 10.7 | 2.6 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Held-to-Maturity |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 2.6 | 2.8 | 5.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | (0.1) | - | (0.1) |
| Total Investment Securities | (5.6) | 13.5 | 7.9 |
| Loans Held for Sale | (0.2) | 0.1 | (0.1) |
| Loans and Leases |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial and Industrial | 0.6 | 5.3 | 5.9 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Paycheck Protection Program | (2.9) | (2.7) | (5.6) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage | 4.5 | 13.9 | 18.4 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Construction | - | 1.1 | 1.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Lease Financing | (0.1) | 0.1 | - |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage | 2.7 | 2.3 | 5.0 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Home Equity | 3.5 | 1.6 | 5.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 1.0 | (0.1) | 0.9 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>2</sup> | 0.4 | (0.1) | 0.3 |
| Total Loans and Leases | 9.7 | 21.4 | 31.1 |
| Other | 0.1 | 0.1 | 0.2 |
| **Total Change in Interest Income** | 3.9 | 36.3 | 40.2 |
| Change in Interest Expense: |  |  |  |
| Interest-Bearing Deposits |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Demand | (0.1) | 2.9 | 2.8 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Savings | 0.1 | 12.1 | 12.2 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Time | 0.6 | 5.0 | 5.6 |
| Total Interest-Bearing Deposits | 0.6 | 20.0 | 20.6 |
| Short-Term Borrowings | 0.7 | 1.6 | 2.3 |
| Securities Sold Under Agreements to Repurchase | 1.0 | 0.5 | 1.5 |
| Other Debt | 1.4 | (0.1) | 1.3 |
| **Total Change in Interest Expense** | 3.7 | 22.0 | 25.7 |
| **Change in Net Interest Income** | $0.2 | $14.3 | $14.5 |
| <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. |
| <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. |

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| | | | |
|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Analysis of Change in Net Interest Income - Taxable-Equivalent Basis** | **Table 8c** |
|  | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** |
|  | **Compared to December 31, 2021** | **Compared to December 31, 2021** | **Compared to December 31, 2021** |
| (dollars in millions) | **Volume <sup>1</sup>** | **Rate <sup>1</sup>** | **Total** |
| Change in Interest Income: |  |  |  |
| Funds Sold | $(0.9) | $4.3 | $3.4 |
| Investment Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Available-for-Sale |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | (10.3) | 16.6 | 6.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | (0.2) | (0.1) | (0.3) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Held-to-Maturity |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 12.5 | 7.4 | 19.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Taxable | (0.3) | (0.2) | (0.5) |
| Total Investment Securities | 1.7 | 23.7 | 25.4 |
| Loans Held for Sale | (0.6) | 0.2 | (0.4) |
| Loans and Leases |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial and Industrial | 1.9 | 7.2 | 9.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Paycheck Protection Program | (24.8) | 1.8 | (23.0) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage | 15.5 | 19.7 | 35.2 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Construction | (1.5) | 2.6 | 1.1 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Commercial Lease Financing | (0.2) | - | (0.2) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage | 8.3 | (1.0) | 7.3 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Home Equity | 13.1 | (0.6) | 12.5 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 2.3 | (1.5) | 0.8 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>2</sup> | 2.3 | (3.2) | (0.9) |
| Total Loans and Leases | 16.9 | 25.0 | 41.9 |
| Other | 0.2 | 0.3 | 0.5 |
| **Total Change in Interest Income** | 17.3 | 53.5 | 70.8 |
| Change in Interest Expense: |  |  |  |
| Interest-Bearing Deposits |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Demand | (0.1) | 3.5 | 3.4 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Savings | 0.3 | 16.4 | 16.7 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Time | (1.0) | 5.4 | 4.4 |
| Total Interest-Bearing Deposits | (0.8) | 25.3 | 24.5 |
| Short-Term Borrowings | 0.9 | 1.6 | 2.5 |
| Securities Sold Under Agreements to Repurchase | (1.6) | 0.9 | (0.7) |
| Other Debt | 0.6 | 0.5 | 1.1 |
| **Total Change in Interest Expense** | (0.9) | 28.3 | 27.4 |
| **Change in Net Interest Income** | $18.2 | $25.2 | $43.4 |
| <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. | <sup>1</sup> The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns. |
| <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. | <sup>2</sup> Comprised of other consumer revolving credit, installment, and consumer lease financing. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Salaries and Benefits** | **Salaries and Benefits** | **Salaries and Benefits** |  |  | **Table 9** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2021** | **2022** | **2021** |
| Salaries | $37395 | $37792 | $35758 | $146840 | $135416 |
| Incentive Compensation | 5356 | 5885 | 6699 | 23425 | 22462 |
| Share-Based Compensation | 3901 | 3558 | 3396 | 15220 | 12489 |
| Commission Expense | 830 | 1005 | 2094 | 4708 | 8901 |
| Retirement and Other Benefits | 4065 | 4448 | 4661 | 17242 | 20213 |
| Payroll Taxes | 2591 | 2826 | 2585 | 13395 | 12404 |
| Medical, Dental, and Life Insurance | 3528 | 2605 | 3981 | 11958 | 12831 |
| Separation Expense | (27) | 1819 | 260 | 2482 | 3577 |
| **Total Salaries and Benefits** | $57639 | $59938 | $59434 | $235270 | $228293 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Loan and Lease Portfolio Balances** | **Loan and Lease Portfolio Balances** | **Loan and Lease Portfolio Balances** | **Loan and Lease Portfolio Balances** |  | **Table 10** |
|  | **December 31,** | **September 30,** | **June 30,** | **March 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2022** | **2022** | **2021** |
| Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Commercial and Industrial | $1389066 | $1368966 | $1323830 | $1354757 | $1361921 |
| &nbsp;&nbsp;&nbsp; Paycheck Protection Program | 19579 | 22955 | 31964 | 57809 | 126779 |
| &nbsp;&nbsp;&nbsp; Commercial Mortgage | 3725542 | 3591943 | 3464126 | 3257689 | 3152130 |
| &nbsp;&nbsp;&nbsp; Construction | 260825 | 236498 | 246177 | 248363 | 220254 |
| &nbsp;&nbsp;&nbsp; Lease Financing | 69491 | 73989 | 89535 | 98107 | 105108 |
| Total Commercial | 5464503 | 5294351 | 5155632 | 5016725 | 4966192 |
| Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Residential Mortgage | 4653072 | 4585723 | 4486571 | 4405718 | 4309602 |
| &nbsp;&nbsp;&nbsp; Home Equity | 2225950 | 2185484 | 2101612 | 1958285 | 1836588 |
| &nbsp;&nbsp;&nbsp; Automobile | 870396 | 820640 | 775065 | 742934 | 736565 |
| &nbsp;&nbsp;&nbsp; Other <sup>1</sup> | 432499 | 435408 | 432693 | 420830 | 410129 |
| Total Consumer | 8181917 | 8027255 | 7795941 | 7527767 | 7292884 |
| **Total Loans and Leases** | $13646420 | $13321606 | $12951573 | $12544492 | $12259076 |
| **Deposits** |  |  |  |  |  |
|  | **December 31,** | **September 30,** | **June 30,** | **March 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2022** | **2022** | **2021** |
| Consumer | $10304335 | $10507946 | $10554121 | $10654192 | $10438844 |
| Commercial | 8569670 | 8841781 | 8824609 | 8818477 | 8641932 |
| Public and Other | 1741691 | 1539046 | 1646951 | 1243618 | 1279332 |
| **Total Deposits** | $20615696 | $20888773 | $21025681 | $20716287 | $20360108 |
| <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More** | **Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More** | **Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More** | **Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More** | **Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More** | **Table 11** |
|  | **December 31,** | **September 30,** | **June 30,** | **March 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2022** | **2022** | **2021** |
| **Non-Performing Assets** |  |  |  |  |  |
| Non-Accrual Loans and Leases |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | $37 | $49 | $85 | $99 | $243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage | 3309 | 3396 | 3462 | 8065 | 8205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Commercial | 3346 | 3445 | 3547 | 8164 | 8448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | 4239 | 4945 | 5179 | 3845 | 3305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Equity | 4022 | 4438 | 4435 | 5638 | 4881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Consumer | 8261 | 9383 | 9614 | 9483 | 8186 |
| Total Non-Accrual Loans and Leases | 11607 | 12828 | 13161 | 17647 | 16634 |
| Foreclosed Real Estate | 1040 | 1040 | 2332 | 2332 | 2332 |
| **Total Non-Performing Assets** | $12647 | $13868 | $15493 | $19979 | $18966 |
| **Accruing Loans and Leases Past Due 90 Days or More** |  |  |  |  |  |
| Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | $- | $- | $- | $22 | $- |
| Total Commercial | - | - | - | 22 | - |
| Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | 2429 | 3279 | 2638 | 4113 | 3159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Equity | 1673 | 1061 | 2029 | 2722 | 3456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile | 589 | 467 | 359 | 504 | 729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other <sup>1</sup> | 683 | 513 | 508 | 649 | 426 |
| Total Consumer | 5374 | 5320 | 5534 | 7988 | 7770 |
| **Total Accruing Loans and Leases Past Due 90 Days or More** | $5374 | $5320 | $5534 | $8010 | $7770 |
| **Restructured Loans on Accrual Status** |  |  |  |  |  |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Not Past Due 90 Days or More** | $43658 | $44641 | $46024 | $54136 | $60519 |
| **Total Loans and Leases** | $13646420 | $13321606 | $12951573 | $12544492 | $12259076 |
| Ratio of Non-Accrual Loans and Leases to Total Loans and Leases | 0.09% | 0.10% | 0.10% | 0.14% | 0.14% |
| Ratio of Non-Performing Assets to Total Loans and Leases |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; and Foreclosed Real Estate | 0.09% | 0.10% | 0.12% | 0.16% | 0.15% |
| Ratio of Non-Performing Assets to Total Assets | 0.05% | 0.06% | 0.06% | 0.07% | 0.07% |
| Ratio of Commercial Non-Performing Assets to Total Commercial Loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; and Leases and Commercial Foreclosed Real Estate | 0.06% | 0.07% | 0.07% | 0.16% | 0.17% |
| Ratio of Consumer Non-Performing Assets to Total Consumer Loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; and Leases and Consumer Foreclosed Real Estate | 0.11% | 0.13% | 0.15% | 0.16% | 0.14% |
| Ratio of Non-Performing Assets and Accruing Loans and Leases |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Past Due 90 Days or More to Total Loans and Leases |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; and Foreclosed Real Estate | 0.13% | 0.14% | 0.16% | 0.22% | 0.22% |
| **Quarter to Quarter Changes in Non-Performing Assets** |  |  |  |  |  |
| **Balance at Beginning of Quarter** | $13868 | $15493 | $19979 | $18966 | $20620 |
| Additions | 704 | 489 | 2293 | 2243 | 357 |
| Reductions |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments | (1605) | (706) | (5511) | (1230) | (972) |
| &nbsp;&nbsp;&nbsp;&nbsp; Return to Accrual Status | (301) | (116) | (1267) | - | (1038) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales of Foreclosed Real Estate | - | (1292) | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Charge-offs / Write-downs | (19) | - | (1) | - | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Reductions | (1925) | (2114) | (6779) | (1230) | (2011) |
| **Balance at End of Quarter** | $12647 | $13868 | $15493 | $19979 | $18966 |
| <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. |  |  |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |  |
| **Reserve for Credit Losses** | **Reserve for Credit Losses** | **Reserve for Credit Losses** |  |  | **Table 12** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| (dollars in thousands) | **2022** | **2022** | **2021** | **2022** | **2021** |
| **Balance at Beginning of Period** | $152927 | $154098 | $174708 | $164297 | $221303 |
| Loans and Leases Charged-Off |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | (196) | (147) | (217) | (925) | (1117) |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | - | - | - | (80) | (316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Equity | (10) | - | (5) | (100) | (417) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile | (1171) | (794) | (1045) | (4652) | (4939) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other <sup>1</sup> | (1846) | (1924) | (2007) | (7585) | (10530) |
| **Total Loans and Leases Charged-Off** | (3223) | (2865) | (3274) | (13342) | (17319) |
| Recoveries on Loans and Leases Previously Charged-Off |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial and Industrial | 87 | 45 | 132 | 552 | 506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage | 63 | 156 | 858 | 1193 | 2467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Equity | 202 | 367 | 390 | 1500 | 1666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile | 412 | 441 | 476 | 2276 | 3510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other <sup>1</sup> | 604 | 709 | 746 | 2702 | 3205 |
| **Total Recoveries on Loans and Leases Previously Charged-Off** | 1368 | 1718 | 2602 | 8223 | 11354 |
| Net Charged-Off - Loans and Leases | (1855) | (1147) | (672) | (5119) | (5965) |
| Net Charged-Off - Accrued Interest Receivable | (25) | - | (39) | (131) | (541) |
| Provision for Credit Losses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans and Leases | (142) | (929) | (9427) | (8263) | (52466) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued Interest Receivable | 25 | - | (214) | (283) | (1745) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unfunded Commitments | 317 | 905 | (59) | 746 | 3711 |
| **Total Provision for Credit Losses** | $200 | $(24) | $(9700) | $(7800) | $(50500) |
| Balance at End of Period | 151247 | 152927 | 164297 | 151247 | 164297 |
| **Components** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for Credit Losses - Loans and Leases | $144439 | $146436 | $157821 | $144439 | $157821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for Credit Losses - Accrued Interest Receivable | - | - | 414 | - | 414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve for Unfunded Commitments | 6808 | 6491 | 6062 | 6808 | 6062 |
| **Total Reserve for Credit Losses** | $151247 | $152927 | $164297 | $151247 | $164297 |
| **Average Loans and Leases Outstanding** | $13452791 | $13126717 | $12086705 | $12896510 | $12023669 |
| Ratio of Net Loans and Leases Charged-Off to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Loans and Leases Outstanding (annualized) | 0.05% | 0.03% | 0.02% | 0.04% | 0.05% |
| Ratio of Allowance for Credit Losses to Loans and Leases Outstanding <sup>2</sup> | 1.06% | 1.10% | 1.29% | 1.06% | 1.29% |
| <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. | <sup>1</sup> Comprised of other revolving credit, installment, and lease financing. |  |  |
| <sup>2</sup> The numerator comprises the Allowance for Credit Losses - Loans and Leases. | <sup>2</sup> The numerator comprises the Allowance for Credit Losses - Loans and Leases. | <sup>2</sup> The numerator comprises the Allowance for Credit Losses - Loans and Leases. | <sup>2</sup> The numerator comprises the Allowance for Credit Losses - Loans and Leases. |  |  |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Business Segments Selected Financial Information** | **Business Segments Selected Financial Information** | **Business Segments Selected Financial Information** |  | **Table 13a** |
|  | **Consumer** | **Commercial** | **Treasury** | **Consolidated** |
| (dollars in thousands) | **Banking** | **Banking** | **and Other** | **Total** |
| **Three Months Ended December 31, 2022** |  |  |  |  |
| Net Interest Income (Loss) | $94918 | $56878 | $(11058) | $140738 |
| Provision for Credit Losses | 1861 | (6) | (1655) | 200 |
| Net Interest Income (Loss) After Provision for Credit Losses | 93057 | 56884 | (9403) | 140538 |
| Noninterest Income | 31526 | 8288 | 1358 | 41172 |
| Noninterest Expense | (82383) | (17587) | (2733) | (102703) |
| Income (Loss) Before Income Taxes | 42200 | 47585 | (10778) | 79007 |
| Provision for Income Taxes | (10846) | (12005) | 5151 | (17700) |
| **Net Income (Loss)** | $31354 | $35580 | $(5627) | $61307 |
| **Total Assets as of December 31, 2022** | $8545896 | $5522916 | $9538065 | $23606877 |
| **Three Months Ended December 31, 2021 <sup>1</sup>** |  |  |  |  |
| Net Interest Income | $71146 | $48140 | $7102 | $126388 |
| Provision for Credit Losses | 676 | (4) | (10372) | (9700) |
| Net Interest Income After Provision for Credit Losses | 70470 | 48144 | 17474 | 136088 |
| Noninterest Income | 32948 | 8298 | 1328 | 42574 |
| Noninterest Expense | (81385) | (17127) | (3166) | (101678) |
| Income Before Income Taxes | 22033 | 39315 | 15636 | 76984 |
| Provision for Income Taxes | (5609) | (9436) | 1898 | (13147) |
| **Net Income** | $16424 | $29879 | $17534 | $63837 |
| **Total Assets as of December 31, 2021 <sup>1</sup>** | $7701447 | $5107001 | $9976493 | $22784941 |
|  |  |  |  |  |
| <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |  |
| **Business Segments Selected Financial Information** | **Business Segments Selected Financial Information** | **Business Segments Selected Financial Information** |  | **Table 13b** |
|  | **Consumer** | **Commercial** | **Treasury** | **Consolidated** |
| (dollars in thousands) | **Banking** | **Banking** | **and Other** | **Total** |
| **Year Ended December 31, 2022 <sup>1</sup>** |  |  |  |  |
| Net Interest Income | $327940 | $209272 | $3346 | $540558 |
| Provision for Credit Losses | 5324 | (205) | (12919) | (7800) |
| Net Interest Income After Provision for Credit Losses | 322616 | 209477 | 16265 | 548358 |
| Noninterest Income | 126336 | 25937 | 5268 | 157541 |
| Noninterest Expense | (330561) | (70601) | (14103) | (415265) |
| Income Before Income Taxes | 118391 | 164813 | 7430 | 290634 |
| Provision for Income Taxes | (29974) | (40659) | 5803 | (64830) |
| **Net Income** | $88417 | $124154 | $13233 | $225804 |
| **Total Assets as of December 31, 2022 <sup>1</sup>** | $8545896 | $5522916 | $9538065 | $23606877 |
| **Year Ended December 31, 2021 <sup>1</sup>** |  |  |  |  |
| Net Interest Income | $284597 | $194409 | $18284 | $497290 |
| Provision for Credit Losses | 5764 | 201 | (56465) | (50500) |
| Net Interest Income After Provision for Credit Losses | 278833 | 194208 | 74749 | 547790 |
| Noninterest Income | 131292 | 30637 | 9424 | 171353 |
| Noninterest Expense | (304177) | (64470) | (24942) | (393589) |
| Income Before Income Taxes | 105948 | 160375 | 59231 | 325554 |
| Provision for Income Taxes | (26474) | (39070) | (6638) | (72182) |
| **Net Income** | $79474 | $121305 | $52593 | $253372 |
| **Total Assets as of December 31, 2021 <sup>1</sup>** | $7701447 | $5107001 | $9976493 | $22784941 |
|  |  |  |  |  |
| <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. | <sup>1</sup> Certain prior period information has been reclassified to conform to current presentation. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Selected Quarterly Financial Data** | **Selected Quarterly Financial Data** | **Selected Quarterly Financial Data** | **Selected Quarterly Financial Data** | **Selected Quarterly Financial Data** | **Table 14** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **December 31,** | **September 30,** | **June 30,** | **March 31,** | **December 31,** |
| (dollars in thousands, except per share amounts) | **2022** | **2022** | **2022** | **2022** | **2021** |
| **Quarterly Operating Results** |  |  |  |  |  |
| Interest Income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest and Fees on Loans and Leases | $128683 | $115013 | $101663 | $94439 | $97853 |
| &nbsp;&nbsp;&nbsp; Income on Investment Securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available-for-Sale | 18476 | 16995 | 17984 | 17100 | 15850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Held-to-Maturity | 23708 | 20243 | 18838 | 18701 | 18325 |
| &nbsp;&nbsp;&nbsp; Deposits | 13 | 10 | 5 | 4 | 1 |
| &nbsp;&nbsp;&nbsp; Funds Sold | 1093 | 2335 | 719 | 127 | 104 |
| &nbsp;&nbsp;&nbsp; Other | 340 | 322 | 353 | 202 | 176 |
| Total Interest Income | 172313 | 154918 | 139562 | 130573 | 132309 |
| Interest Expense |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Deposits | 23494 | 10296 | 3535 | 2353 | 2898 |
| &nbsp;&nbsp;&nbsp; Securities Sold Under Agreements to Repurchase | 4289 | 2745 | 2794 | 2772 | 2834 |
| &nbsp;&nbsp;&nbsp; Funds Purchased | 318 | 40 | 57 | 2 | 6 |
| &nbsp;&nbsp;&nbsp; Short-Term Borrowings | 1978 | - | 92 | - | - |
| &nbsp;&nbsp;&nbsp; Other Debt | 1496 | 182 | 182 | 183 | 183 |
| Total Interest Expense | 31575 | 13263 | 6660 | 5310 | 5921 |
| **Net Interest Income** | 140738 | 141655 | 132902 | 125263 | 126388 |
| Provision for Credit Losses | 200 | - | (2500) | (5500) | (9700) |
| Net Interest Income After Provision for Credit Losses | 140538 | 141655 | 135402 | 130763 | 136088 |
| Noninterest Income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Trust and Asset Management | 10652 | 10418 | 11457 | 11276 | 11693 |
| &nbsp;&nbsp;&nbsp; Mortgage Banking | 991 | 1002 | 1247 | 2740 | 2908 |
| &nbsp;&nbsp;&nbsp; Service Charges on Deposit Accounts | 7513 | 7526 | 7309 | 7272 | 6861 |
| &nbsp;&nbsp;&nbsp; Fees, Exchange, and Other Service Charges | 13906 | 13863 | 14193 | 12952 | 14439 |
| &nbsp;&nbsp;&nbsp; Investment Securities Losses, Net | (1124) | (2147) | (1295) | (1545) | (1258) |
| &nbsp;&nbsp;&nbsp; Annuity and Insurance | 1087 | 1034 | 870 | 791 | 876 |
| &nbsp;&nbsp;&nbsp; Bank-Owned Life Insurance | 2475 | 2486 | 2658 | 2349 | 1907 |
| &nbsp;&nbsp;&nbsp; Other | 5672 | (3522) | 5719 | 7716 | 5148 |
| **Total Noninterest Income** | 41172 | 30660 | 42158 | 43551 | 42574 |
| Noninterest Expense |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Salaries and Benefits | 57639 | 59938 | 57769 | 59924 | 59434 |
| &nbsp;&nbsp;&nbsp; Net Occupancy | 9499 | 10186 | 9930 | 9826 | 9028 |
| &nbsp;&nbsp;&nbsp; Net Equipment | 9942 | 9736 | 9543 | 9153 | 9105 |
| &nbsp;&nbsp;&nbsp; Data Processing | 4579 | 4616 | 4607 | 4560 | 4696 |
| &nbsp;&nbsp;&nbsp; Professional Fees | 3958 | 3799 | 3542 | 3258 | 3427 |
| &nbsp;&nbsp;&nbsp; FDIC Insurance | 1774 | 1680 | 1590 | 1502 | 1619 |
| &nbsp;&nbsp;&nbsp; Other | 15312 | 15794 | 15958 | 15651 | 14369 |
| **Total Noninterest Expense** | 102703 | 105749 | 102939 | 103874 | 101678 |
| Income Before Provision for Income Taxes | 79007 | 66566 | 74621 | 70440 | 76984 |
| Provision for Income Taxes | 17700 | 13765 | 17759 | 15606 | 13147 |
| **Net Income** | $61307 | $52801 | $56862 | $54834 | $63837 |
| Preferred Stock Dividends | 1969 | 1969 | 1969 | 1969 | 1969 |
| **Net Income Available to Common Shareholders** | $59338 | $50832 | $54893 | $52865 | $61868 |
| Basic Earnings Per Common Share | $1.51 | $1.28 | $1.38 | $1.33 | $1.56 |
| Diluted Earnings Per Common Share | $1.50 | $1.28 | $1.38 | $1.32 | $1.55 |
| **Balance Sheet Totals** |  |  |  |  |  |
| Loans and Leases | $13646420 | $13321606 | $12951573 | $12544492 | $12259076 |
| Total Assets | 23606877 | 23134040 | 23232699 | 23000317 | 22784941 |
| Total Deposits | 20615696 | 20888773 | 21025681 | 20716287 | 20360108 |
| Total Shareholders' Equity | 1316995 | 1282384 | 1348746 | 1448885 | 1611611 |
| **Performance Ratios** |  |  |  |  |  |
| Return on Average Assets | 1.05% | 0.91% | 1.00% | 0.97% | 1.12% |
| Return on Average Shareholders' Equity | 18.91 | 15.31 | 16.40 | 14.18 | 15.92 |
| Return on Average Common Equity | 21.28 | 16.98 | 18.19 | 15.44 | 17.40 |
| Efficiency Ratio <sup>1</sup> | 56.46 | 61.37 | 58.80 | 61.53 | 60.18 |
| Net Interest Margin <sup>2</sup> | 2.60 | 2.60 | 2.47 | 2.34 | 2.34 |
| <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). | <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). | <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). | <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). | <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). | <sup>1</sup> Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income). |
| <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. | <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. | <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. | <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. | <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. | <sup>2</sup> Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** | **Bank of Hawai'i Corporation and Subsidiaries** |  |
| **Hawaii Economic Trends** | **Hawaii Economic Trends** | **Hawaii Economic Trends** | **Hawaii Economic Trends** | **Hawaii Economic Trends** | **Hawaii Economic Trends** | **Table 15** |
|  | **Eleven Months Ended** | **Eleven Months Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
| (dollars in millions; jobs in thousands) | **November 30, 2022** | **November 30, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2020** | **December 31, 2020** |
| **Hawaii Economic Trends** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State General Fund Revenues <sup>1</sup> | $8675.9 | 16.7% | $8137.9 | 26.9% | $6415.1 | (12.3)% |
| &nbsp;&nbsp;&nbsp;&nbsp; General Excise and Use Tax Revenue <sup>1</sup> | 3916.3 | 18.9 | 3604.3 | 18.6 | 3038.8 | (15.6) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jobs <sup>2</sup> | 652.3 |  | 642.6 |  | 594.4 |  |
|  |  |  |  | **November 31,** | **December 31,** | **December 31,** |
|  |  |  |  | **2022** | **2021** | **2020** |
| **Unemployment, seasonally adjusted <sup>3</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Statewide |  |  |  | 3.3% | 4.3% | 9.8% |
| &nbsp;&nbsp;&nbsp;&nbsp; Honolulu County |  |  |  | 3.4 | 4.0 | 8.8 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hawaii County |  |  |  | 3.0 | 4.2 | 9.3 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maui County |  |  |  | 3.5 | 5.4 | 13.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kauai County |  |  |  | 3.2 | 6.0 | 13.6 |
|  |  |  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| (1-year percentage change, except months of inventory) |  |  | **2022** | **2021** | **2020** | **2019** |
| **Housing Trends (Single Family Oahu) <sup>4</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Median Home Price |  |  | 11.6% | 19.3% | 5.2% | (0.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Sales Volume (units) |  |  | (23.2)% | 17.9% | 2.3% | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp; Months of Inventory |  |  | 2.1 | 0.8 | 1.4 | 2.5 |
|  |  |  | **Monthly Visitor Arrivals,** | **Monthly Visitor Arrivals,** | **Percentage Change** | **Percentage Change** |
| (in thousands) |  |  | **Not Seasonally Adjusted** | **Not Seasonally Adjusted** | **from Previous Year** | **from Previous Year** |
| **Tourism <sup>5</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;November 30, 2022 |  |  |  | 725.5 |  | 18.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October 31, 2022 |  |  |  | 726.1 |  | 31.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 30, 2022 |  |  |  | 691.8 |  | 37.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 31, 2022 |  |  |  | 829.7 |  | 14.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 31, 2022 |  |  |  | 919.2 |  | 4.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June 30, 2022 |  |  |  | 841.8 |  | 6.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 31, 2022 |  |  |  | 774.1 |  | 22.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 30, 2022 |  |  |  | 809.6 |  | 67.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2022 |  |  |  | 785.7 |  | 78.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;February 28, 2022 |  |  |  | 623.7 |  | 165.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;January 31, 2022 |  |  |  | 567.2 |  | 229.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 |  |  |  | 753.7 |  | 219.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;November 30, 2021 |  |  |  | 614.0 |  | 234.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October 31, 2021 |  |  |  | 550.8 |  | 618.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 30, 2021 |  |  |  | 504.6 |  | 2641.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 31, 2021 |  |  |  | 723.0 |  | 2995.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 31, 2021 |  |  |  | 879.6 |  | 3798.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June 30, 2021 |  |  |  | 791.1 |  | 4534.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 31, 2021 |  |  |  | 629.7 |  | 6807.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 30, 2021 |  |  |  | 484.1 |  | 10506.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2021 |  |  |  | 439.8 |  | 1.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;February 28, 2021 |  |  |  | 235.3 |  | (71.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;January 31, 2021 |  |  |  | 172.0 |  | (80.1) |
| <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism | <sup>1</sup> Source: Hawaii Department of Business, Economic Development & Tourism |
| <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics | <sup>2</sup> Source: U.S. Bureau of Labor Statistics |
| <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) | <sup>3</sup> Source: University of Hawaii Economic Research Organization (UHERO) |
| <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors | <sup>4</sup> Source: Honolulu Board of Realtors |
| <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority | <sup>5</sup> Source: Hawaii Tourism Authority |

---

## Exhibit 99.2

![Slide 1](slide-xh5zwikya2w.jpg)

Bank of Hawai'i Corporation fourth quarter 2022 financial report January 23, 2023 Exhibit 99.2

![Slide 2](slide-smdunmws0ss.jpg)

this presentation, and other statements made by the Company in connection with it, may contain forward-looking statements concerning, among other things, forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations. we have not committed to update forward-looking statements to reflect later events or circumstances. disclosure 2 forward-looking statements

![Slide 3](slide-fdotpq2fgzx.jpg)

unemployment experience & forecast source for Hawaii unemployment: University of Hawaii Economic Research Organization (UHERO), seasonally adjusted source for national unemployment: Bureau of Labor Statistics, seasonally adjusted 3

![Slide 4](slide-x1h5zvnk1n0.jpg)

4 visitor arrivals monthly by market, indexed to January 2017 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT)

![Slide 5](slide-wj2fr1j50mj.jpg)

revenue per available room revenue per available room (RevPAR) 5 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT)

![Slide 6](slide-0blf5ldppfo.jpg)

stable real estate prices Oahu market indicators – Dec 2022 6 source: Honolulu Board of Realtors, compiled from MLS data

![Slide 7](slide-fkbpas12ldx.jpg)

4Q financial update

![Slide 8](slide-i4o144qzleh.jpg)

balanced core loan growth $ in millions 8 annual growth rate commercial consumer $13,646 note: numbers may not add up due to rounding, CAGR, annual growth rate, and q-o-q core loan growth exclude PPP market share includes four banks: Bank of Hawai'i, First Hawaiian Bank, American Savings Bank (ASB), and Central Pacific Bank, excludes mainland loans, note: mainland loans not disclosed for ASB and assumed to be zero. market share unavailable for 4Q22 2016 – 2022 CAGR commercial: 7.1% consumer: 7.4%

![Slide 9](slide-mizcsckdvdw.jpg)

low cost, long duration deposits $ in billions 9 source: S&P Capital IQ 2016 – 2022 CAGR: 6.3%

![Slide 10](slide-xfhw2ago0bb.jpg)

strong deposit beta performance $ in billions 10 note: beta calculated as change in average total deposit rate divided by change in average Fed Funds rate

![Slide 11](slide-ebqakfkhsai.jpg)

11 cashflow and repricing note: numbers may not add up due to rounding matured/run-off yield reinvestment opportunity

![Slide 12](slide-roe3nhhuvry.jpg)

NII year-over-year comparison $ in millions 12 note: numbers may not add up due to rounding; core NII excludes PPP and significant items

![Slide 13](slide-ttdyaqbacg3.jpg)

NII headwinds $ in millions 13 note: numbers may not add up due to rounding

![Slide 14](slide-albv2d2iibp.jpg)

near term NII drivers 14 likely dilutive yield curve deposit cost uncertain deposit levels deposit beta likely accretive loan growth earning asset yields

![Slide 15](slide-5ha25tgp0wf.jpg)

disciplined expenses $ in millions 15 rationalization of expenses across core and innovation note: numbers may not add up due to rounding

![Slide 16](slide-cyyjflcvj0g.jpg)

financial summary $ in millions, except per share amounts 16 note: numbers may not add up due to rounding

![Slide 17](slide-aa0e55rgayv.jpg)

17 strong risk-based capital fortress capital position note: 4Q22 regulatory capital ratios are preliminary; KBW Regional Banking Index (KRX) as of 1/4/22

![Slide 18](slide-5yri53nk4ki.jpg)

4Q credit update

![Slide 19](slide-rd3a1cfjgto.jpg)

loan portfolio excluding PPP 19 40% commercial 73% real estate secured wtd avg LTV 57% 57% w/ BOH ≥ 10 yrs avg balance $0.7MM CRE C&I residential mortgage home equity auto leasing other consumer construction 60% consumer 84% real estate secured wtd avg LTV 55% 57% w/ BOH ≥ 10 yrs 80% of portfolio secured with quality real estate with combined weighted average loan to value of 56% note: excludes $20MM in PPP loan balances including deferred costs and fees

![Slide 20](slide-ibenrbztxze.jpg)

credit quality 20 \* 82% of total criticized in CRE with 61% wtd avg LTV

![Slide 21](slide-w5iwzyngfmn.jpg)

production quality 21 commercial consumer

![Slide 22](slide-tsp2y3h151k.jpg)

reserve trend 22 $ in millions allowance for credit losses note: balances and coverage ratio based on allowance for credit losses – loans and leases

![Slide 23](slide-bfcksztv100.jpg)

well positioned for current environment 23 market leading brand awareness and penetration superior credit quality deposit betas fortified by granular, long-tenured deposit base controlled expenses solid capital

![Slide 24](slide-ma4yqep2wtg.jpg)

Q & A