WS Investor
22 Apr 2025, 09:47
Bank of Hawai‘i Reports Strong Q1 2025 Results with Higher Earnings and Dividend
Bank of Hawai‘i Corporation (NYSE: BOH) posted first quarter 2025 net income of $44.0 million, or $0.97 per diluted common share, up from $0.85 in the prior quarter and $0.87 a year ago. The return on average common equity was 11.80%, improving from both the fourth quarter of 2024 and the year-ago period.
Net interest income rose to $125.8 million, a 4.7% increase from the prior quarter and 10.4% year-over-year, driven by lower interest-bearing deposit costs and stronger earning asset yields. Net interest margin improved to 2.32%. Noninterest income was $44.1 million, up 2.3% from the previous quarter, while noninterest expense rose 2.3% to $110.5 million.
Asset quality remained strong. Non-performing assets totaled $17.5 million, 0.12% of loans and leases, and net loan charge-offs were $4.4 million. The allowance for credit losses stood at $147.7 million, or 1.05% of total loans and leases.
Total assets reached $23.9 billion. Loans increased 0.3% to $14.1 billion, while deposits grew 1.8% to $21.0 billion. Commercial loans rose 1.2%, while consumer loans declined slightly.
The Tier 1 Capital Ratio was 13.93%, and the Tier 1 Leverage Ratio was 8.36%. No share repurchases were made during the quarter, with $126.0 million remaining under the buyback program.
The board declared a $0.70 quarterly cash dividend on common shares, payable June 13, 2025. Dividends were also declared for the company’s Series A and Series B preferred shares.
Bank of Hawai‘i Corporation (NYSE: BOH) posted first quarter 2025 net income of $44.0 million, or $0.97 per diluted common share, up from $0.85 in the prior quarter and $0.87 a year ago. The return on average common equity was 11.80%, improving from both the fourth quarter of 2024 and the year-ago period.
Net interest income rose to $125.8 million, a 4.7% increase from the prior quarter and 10.4% year-over-year, driven by lower interest-bearing deposit costs and stronger earning asset yields. Net interest margin improved to 2.32%. Noninterest income was $44.1 million, up 2.3% from the previous quarter, while noninterest expense rose 2.3% to $110.5 million.
Asset quality remained strong. Non-performing assets totaled $17.5 million, 0.12% of loans and leases, and net loan charge-offs were $4.4 million. The allowance for credit losses stood at $147.7 million, or 1.05% of total loans and leases.
Total assets reached $23.9 billion. Loans increased 0.3% to $14.1 billion, while deposits grew 1.8% to $21.0 billion. Commercial loans rose 1.2%, while consumer loans declined slightly.
The Tier 1 Capital Ratio was 13.93%, and the Tier 1 Leverage Ratio was 8.36%. No share repurchases were made during the quarter, with $126.0 million remaining under the buyback program.
The board declared a $0.70 quarterly cash dividend on common shares, payable June 13, 2025. Dividends were also declared for the company’s Series A and Series B preferred shares.
