10-Q · April 27, 2026
Bank of Hawaii reported Q1 2026 diluted EPS of $1.30 (up $0.33 or 34% YoY) and net income of $57.4 million (up $13.4 million or 31% YoY). Net interest income and margin drove performance — NII was $151.0 million and net…
Earnings analysis · 10-Q
BOH earnings analysis
Filed July 27, 2026 · Our reading of the company's report
The latest report
Bank of Hawai‘i delivered a strong Q2, with diluted EPS of $1.47 up 38.7% year over year and net income of $63.799 million up 33.9%, driven principally by a 39-basis-point year-over-year increase in NIM to 2.78%. Both…
Read full summary
Bank of Hawai‘i delivered a strong Q2, with diluted EPS of $1.47 up 38.7% year over year and net income of $63.799 million up 33.9%, driven principally by a 39-basis-point year-over-year increase in NIM to 2.78%. Both operating banking segments recorded double-digit net-income growth, while loans rose 1.5% from year-end and NPAs declined to 0.08% of loans and foreclosed real estate. Offsetting considerations are a $295.720 million decline in deposits, higher 90-day-plus accruing loans, and $784.7 million of net unrealized securities losses; the filing does not provide cash-flow/FCF data or quantitative earnings guidance.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.47
What stood out
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EPS and net income rose sharply
Q2 net income increased $16.162 million, or 33.9% year over year, to $63.799 million. Diluted EPS rose $0.41, or 38.7%, year over year to $1.47; EPS was also $0.17 above Q1 2026's $1.30.
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NIM expansion drove earnings growth
Net interest income increased 18.4% year over year to $153.6 million, while net interest margin expanded 39 basis points to 2.78%. The improvement reflected a 43-basis-point decline in interest-bearing deposit costs.
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Core banking segments posted double-digit growth
Consumer Banking Q2 net income rose $8.522 million, or 28.7%, to $38.259 million, and Commercial Banking increased $6.765 million, or 22.0%, to $37.459 million.
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Loan book grew, led by commercial lending
Loans and leases increased $204.575 million, or 1.5%, from year-end to $14.287 billion, led by commercial-and-industrial loans up $92.290 million (5.8%) and commercial mortgages up $113.430 million (2.7%).
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Non-performing assets declined
Asset quality improved on nonperformers: non-performing assets declined $2.693 million to $11.478 million, or 0.08% of loans and foreclosed real estate, from 0.10% at year-end.
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Buybacks and dividend maintained
Capital returns continued, with $32.1 million of common shares repurchased in the first six months at an average $78.24 per share; $88.9 million of authorization remained at June 30. The quarterly common dividend was maintained at $0.70 per share.
What to watch
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Commercial deposit runoff pressures funding
Deposits fell $295.720 million, or 1.4%, from December 31, 2025 to $20.893 billion, driven by a $430.003 million, or 5.0%, decline in commercial deposits.
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Past-due balances and Q2 charge-offs increased
Accruing loans 90 days or more past due increased $1.859 million, or 15%, from year-end to $14.118 million, principally reflecting increased home-equity delinquencies. Q2 net charge-offs also increased to $3.402 million from $2.618 million a year earlier.
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Large securities losses and rate sensitivity persist
Net unrealized losses in available-for-sale and held-to-maturity securities increased to $784.7 million at June 30, 2026 from $739.8 million at year-end. A +400-basis-point rate shock is estimated to reduce economic value of equity by $711.596 million, or 21.1%.
Management's outlook
The 10-Q provides no quantitative revenue or EPS outlook. Management notes that Hawai‘i's near-term outlook has weakened, while total visitor arrivals are projected to increase modestly in 2026 and growth is expected to slow in 2027.
Earlier filings 4
10-K · February 24, 2026
Bank of Hawai‘i’s 2025 10-K shows modest revenue growth and clear margin expansion across 2025, with total quarterly revenue running higher each quarter (2025Q4 $272M vs 2024Q4 $262M) and operating leverage driving EPS…
10-Q · October 28, 2025
Bank of Hawaii reported Q3 2025 net revenue of $182,641,000 (net interest income $136,675,000 + noninterest income $45,966,000), up $19,913,000 (+12.2%) versus Q3 2024. Operating leverage lifted income before taxes to…
10-K · March 4, 2025
Bank of Hawaiʻi's 10-K emphasizes a local-focused strategy built on an extensive branch network, service levels and local market knowledge across Hawaiʻi, Guam and other Pacific Islands. The filing highlights regulatory…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.