Bank of Hawaii Q1 Profit Slips as Net Interest Margin Climbs

Overview

• Bank of Hawaii, which reported first-quarter results Monday, posted net income of $57.4 million, down 5.7% from the prior quarter.
• Net interest income rose to $151.0 million as net interest margin, the spread between loan yields and deposit costs, improved to 2.74% for an eighth straight quarter.
• Coverage diverged on diluted EPS at $1.30 in article summaries versus $1.39 in the earnings-call transcript, a gap to be settled by the company’s formal filing.
• Total assets were $23.9 billion with loans at $14.2 billion and deposits at $21.0 billion, and asset quality stayed strong with non‑performing assets at $12.1 million, or 0.09% of loans.
• Capital remained robust with a 14.40% Tier 1 ratio and 8.62% leverage ratio, and the bank repurchased $15.1 million of stock and declared a $0.70 quarterly dividend while targeting a ~2.9% margin by year-end.