Bank Of Hawaii ( (BOH) ) has released its Q4 earnings. Here is a breakdown of the information Bank Of Hawaii presented to its investors.
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Bank of Hawaii Corporation is a regional financial services company that provides banking services to businesses, consumers, and governments in Hawaii and the West Pacific. Founded in 1897, its primary operations encompass consumer banking, commercial banking, and treasury services.
The Bank of Hawaii Corporation recently released its financial results for the fourth quarter and full year of 2024, highlighting a decline in earnings compared to the previous year. Despite this, the company reported growth in key areas such as net interest income and maintained strong asset quality.
For the full year of 2024, the bank reported a net income of $150 million, a decrease of 12.4% from 2023. The diluted earnings per common share stood at $3.46 for the year, down from $4.14 in the previous year. The fourth quarter’s net income was $39.2 million, with a diluted earnings per share of $0.85. The bank’s net interest margin improved slightly to 2.19% in the fourth quarter, signifying a positive trend in interest income.
The bank’s total assets were reported at $23.6 billion by the end of 2024, with total deposits of $20.6 billion. Despite a decrease in deposits from September 2024, the bank saw an increase in average loan and deposit balances. The bank’s asset quality remained strong, with a low percentage of non-performing assets relative to total loans and leases.
Looking ahead, Bank of Hawaii Corporation remains optimistic about its financial health and stability. The company maintains a strong capital ratio, well above regulatory requirements, and continues to focus on maintaining excellent credit quality while managing expenses effectively. The board has declared a dividend of $0.70 per common share, reflecting confidence in the company’s continued profitability.
