# EDGAR Filing Document

**Accession Number:** 0000046195
**File Stem:** 0001564590-23-003643
**Filing Date:** 2023-3
**Character Count:** 9951
**Document Hash:** 07d40fb0c8b275f97857d45b159bb7a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001564590-23-003643.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001564590-23-003643

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 34

**CONFORMED PERIOD OF REPORT**: 20230315

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**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:** 23734802

**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_20230315.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 | **March 15, 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 7.01 Regulation FD Disclosure
Bank of Hawai'i Corporation, parent company of Bank of Hawai'i, provides the attached updated operational overview in light of recent industry events and continued market volatility. We have ample liquidity and overall deposit balances remain stable. Our $10.6 billion of open lines and available collateral exceeds the $9.1 billion of uninsured or uncollateralized deposit balances.

From time to time, Bank of Hawai'i Corporation intends to use the presentation slides attached hereto as Exhibit 99.1 in conversations with investors and analysts. The presentation materials will also be available on Bank of Hawai'i Corporation's website at http://ir.boh.com/events-and-presentations.

The information in Item 7.01 of this report (including Exhibit 99.1 hereto) is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

---

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

---

(d) Exhibits

---

| | |
|:---|:---|
| <u>Exhibit No.</u> |  |
| 99.1 | [<u>Bank of Hawai'i Corporation Operational Overview</u>](boh-ex991_98.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: March 15, 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

![Slide 1](slide-2abbkem4ozh.jpg)

Bank of Hawai'i Corporation operational overview March 15, 2023 Exhibit 99.1

![Slide 2](slide-anhl5w1baas.jpg)

operational highlights 2 unique and competitively advantageous deposit market exceptional deposit base substantial liquidity back up high quality assets

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

notable accolades 3 Rated Aa3 by Moody's Investor Service for Long-term Deposits – the highest deposit rating in Hawaii and of the highest in the U.S. Named "Hawaii's Best Bank" by readers of the Honolulu Star- Advertiser for the last 12 years consecutively Ranked No. 3 among America's Most Trusted Companies in the banking industry by Newsweek

![Slide 4](slide-lxf0ci5c1tr.jpg)

our deposits 4 Over our 125 year history in the islands, Bank of Hawaii has developed an exceptionally seasoned deposit base, built one relationship at a time, over many years, and in neighborhoods and communities we know

![Slide 5](slide-j15ushgiuzg.jpg)

steady, measured & balanced deposit growth $ in billions 5 source: CAGR through February 28, 2023 balances remain steady

![Slide 6](slide-2ommrr313sn.jpg)

unique deposit market 6 source: S&P Capital IQ FDIC Annual Summary of Deposits as of June 30, 2022 unique deposit market with five local competitors holding 97% of the bank deposit market

![Slide 7](slide-lex2khc0vw5.jpg)

granular 7 note: as of February 28, 2023 # depositors fully FDIC insured 98% $ balances FDIC insured 48% average consumer account balance $18,000 average commercial account balance $134,000

![Slide 8](slide-r2bcp1lih2q.jpg)

diversified deposit base 8 note: as of February 28, 2023

![Slide 9](slide-h5tjfa42k4k.jpg)

diversified deposit base 9 \*note: as of February 28, 2023, no sector included in 'other' comprises more than 3.5% of total, excludes foreign currency and agency accounts

![Slide 10](slide-bl5g15yaquf.jpg)

highly operational in nature 10 note: as of February 28, 2023 overall demand: 52%

![Slide 11](slide-bfxp32ogzqc.jpg)

tenured deposit base 11 note: as of February 28, 2023

![Slide 12](slide-1gpszcrd2c3.jpg)

liquidity lines 12 Bank of Hawaii carries substantial liquidity lines and equivalents for both day-to-day operational purposes as well as for liquidity back stop purposes. The high quality of our asset base provides us with ample access.

![Slide 13](slide-bint4wxkq04.jpg)

available borrowing capacity 13 $ in billions \*does not include the Bank Term Funding Program.

![Slide 14](slide-3kqg1fskb3c.jpg)

highly secure 14 note: as of February 28, 2023 $10.6B in open lines and pledgeable assets

![Slide 15](slide-rzdkzijo1i3.jpg)

our assets 15 Serving an island based community for over 125 years has steered us to embrace values like stewardship and sustainability. It is with these values that we manage the assets of the organization.

![Slide 16](slide-nfnqemas2gq.jpg)

asset composition 16 note: as of December 31, 2022

![Slide 17](slide-iraruck0vrh.jpg)

loan portfolio as of 12/31/22, excluding PPP 17 40% commercial 73% real estate secured wtd avg LTV 57% 57% w/ BOH ≥ 10 yrs avg balance $0.7MM commercial real estate commercial 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 18](slide-lxxscict1qm.jpg)

geographic focus 18 note: as of December 31, 2022 we lend in markets we know to customers we understand

![Slide 19](slide-32oot0sspj5.jpg)

conservative and liquid investment portfolio 19 high-quality, low-risk investment portfolio note: as of December 31, 2022

![Slide 20](slide-0f1vmd1sskm.jpg)

operational take aways 20 unique and competitively advantageous deposit market exceptional deposit base substantial liquidity back up high quality assets