BANK OF HAWAII CORP

For the period ended Dec 31, 2024. Filed Mar 4, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 4, 2025

BOH$70.46-0.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2024	2023	2022
Operating Activities
Net Income	$149,994	$171,202	$225,804
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Provision for Credit Losses	11,150	9,000	(7,800)
Depreciation and Amortization	20,053	21,324	21,377
Amortization (Accretion) of Deferred Loans and Lease (Fees) Costs, Net	(325)	491	(215)
Amortization and Accretion of Premiums/Discounts on Investment Securities, Net	12,234	13,222	20,824
Amortization of Operating Lease Right-of-Use-Assets	11,469	11,667	11,843
Share-Based Compensation	14,444	15,656	16,066
Benefit Plan Contributions	(2,068)	(2,141)	(1,679)
Deferred Income Taxes	(12,220)	(11,205)	(2,713)
Loss on Agreement to Sell Assets That Will Terminate Certain Leveraged Leases	—	—	6,918
Net Gains on Sales of Loans and Leases	(2,331)	(2,103)	(4,100)
Net Losses on Investment Securities	7,507	11,455	6,111
Proceeds from Sales of Loans Held for Sale	61,229	57,738	133,715
Originations of Loans Held for Sale	(59,816)	(60,084)	(106,965)
Net Tax (Benefits) Expense from Share-Based Compensation	—	(516)	166
Net Change in Other Assets and Other Liabilities	(32,872)	(85,485)	13,608
Net Cash Provided by Operating Activities	178,448	150,221	332,960
Investing Activities
Investment Securities Available-for-Sale:
Proceeds from Sales, Prepayments and Maturities	205,896	463,442	677,087
Purchases	(470,812)	(511)	(1,058,922)
Investment Securities Held-to-Maturity:
Proceeds from Prepayments and Maturities	395,411	434,528	645,463
Purchases	—	—	(91,229)
Net Change in Loans and Leases	(99,827)	(325,262)	(1,397,056)
Premises and Equipment, Net	(9,679)	(9,402)	(28,761)
Net Cash Provided by (Used in) Investing Activities	20,989	562,795	(1,253,418)
Financing Activities
Net Change in Deposits	(422,008)	439,349	255,588
Net Change in Short-Term Borrowings	(50,490)	(575,000)	275,000
Proceeds from Other Debt	—	1,350,000	400,000
Repayments of Other Debt	(105)	(1,200,104)	(97)
Proceeds from Issuance of Preferred Stock	160,614	—	—
Proceeds from Issuance of Common Stock	5,438	5,878	6,797
Repurchase of Common Stock	(5,302)	(14,290)	(55,063)
Cash Dividends Paid on Common Stock	(112,313)	(111,795)	(112,557)
Cash Dividends Paid on Preferred Stock	(12,644)	(7,877)	(7,877)
Net Cash (Used in) Provided by Financing Activities	(436,810)	(113,839)	761,791
Net Change in Cash and Cash Equivalents	(237,373)	599,177	(158,667)
Cash and Cash Equivalents at Beginning of Period	1,000,944	401,767	560,434
Cash and Cash Equivalents at End of Period	$763,571	$1,000,944	$401,767
Supplemental Information
Cash Paid for Interest	$403,394	$282,025	$49,609
Cash Paid for Income Taxes	31,240	52,246	53,025
Non-Cash Investing and Financing Activities:
Transfer of Investment Securities from Available-for-Sale to Held-to-Maturity	—	—	1,275,043
Transfer from Loans to Foreclosed Real Estate	708	1,625	—
Transfers from Loans to Loans Held for Sale	—	—	380
Transfers from Loans Held for Sale to Loans	—	569	—

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