false 0000046195 0000046195 2023-03-15 2023-03-15 0000046195 us-gaap:CommonStockMember 2023-03-15 2023-03-15 0000046195 us-gaap:SeriesAPreferredStockMember 2023-03-15 2023-03-15




Washington, D. C. 20549







Date of Report

March 15, 2023

(Date of earliest event reported)




(Exact name of registrant as specified in its charter)





(State of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)


130 Merchant Street




(Address of principal executive offices)



(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:


Title of each class


Trading Symbol(s)


Name of each exchange on which registered

Common Stock, par value $0.01 per share




New York Stock Exchange






Depository Shares, Each Representing 1/40th Interest in a Share of 4.375% Fixed Rate Non-Cumulative Preferred Stock, Series A




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

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.





Exhibit No.





Bank of Hawai‘i Corporation Operational Overview


Cover Page Interactive Data File (embedded within the Inline XBRL document)
















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







/s/ Patrick M. McGuirk



Patrick M. McGuirk



Senior Executive Vice President and Corporate Secretary




Slide 1

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

Slide 2

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

Slide 3

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

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

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

Slide 6

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

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

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

Slide 9

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

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

Slide 11

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

Slide 12

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

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

Slide 14

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

Slide 15

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

asset composition 16 note: as of December 31, 2022

Slide 17

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

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

Slide 19

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

Slide 20

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