Bank of Hawaii BOH Q3 2024 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Mon, January 26, 2026 astatine 9:57 AM CST 26 min read

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Monday, October 28, 2024 astatine 2 p.m. ET

• Chairman, President, and Chief Executive Officer — Peter S. Ho

• Vice Chair, Chief Risk Officer — Bradley K. Shairson

• Vice Chair, Chief Financial Officer and Treasurer — Dean Y. Shigemura

• Vice Chair, Chief Commercial Banking Officer — James A. Polk

• Director of Investor Relations — Chang M. Park

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Peter Ho: Thanks, Chang, and bully greeting oregon bully afternoon, everyone. Bank of Hawaii is pleased to study different coagulated show successful the 3rd 4th of 2024. Net income and diluted net per stock accrued notably connected a linked basis. Net involvement income and NIM expanded for the 2nd consecutive quarter. Fee income grew and operating expenses fell connected a linked basis. Loans and deposits grew successful the quarter, superior levels improved and recognition prime remains pristine. As is our custom, I volition walk a small clip highlighting marketplace conditions successful the islands, I'll past inquire Brad to supply a fewer comments connected recognition prime and Dean volition supply further item connected our financials.

The equilibrium expanse performed good successful the 4th with higher spot indebtedness and deposit balances and unchangeable mean balances. Capital levels improved crossed each measures connected apical of the meaningful step-up successful Q2. Deposits proceed to execute well, up 2.8% connected a linked spot ground and up modestly connected an mean linked basis. We are pleased to again clasp the apical deposit marketplace stock presumption successful Hawaii for 2024 arsenic measured by the FDIC Annual Summary of Deposits. Both outgo of involvement bearing and outgo of full deposits continued to way well, good beneath adjacent medians. Unemployment successful Hawaii continues to way astatine 2.9%, good beneath the nationalist average.

Visitor arrivals proceed to beryllium impacted by little Maui arrivals, but stay elevated from pre-pandemic levels. Same tin beryllium said for RevPAR. Oahu residential real-estate continues to inclination unchangeable with median income prices up modestly for some azygous household and condominiums connected a year-to-date basis. Median days connected marketplace stay beneath 30 days. Now, fto maine crook the telephone implicit to Brad to sermon a fewer trends connected credit. Brad?

Bradley Shairson: Thanks, Peter. As always, I'll commencement disconnected with our lending philosophy. We absorption connected our halfway markets successful Hawaii and the Western Pacific. This allows america to leverage our section expertise to marque dependable recognition decisions. Additionally, we cognize our clients well. The bulk of our indebtedness publication is the agelong lasting relationships wherever astir 60% of our clients connected some the commercialized and user broadside person been with america for implicit 10 years. This operation has greatly contributed to our historically beardown recognition show and has resulted successful a indebtedness portfolio that is 93% Hawaii, 4% Western Pacific and conscionable 3% Mainland wherever we enactment our clients that are doing concern successful some Hawaii and connected the Mainland.