- Bank of Hawai'i (BOH, Financial) reports first quarter 2025 results with a 20.9% increase in net income to $44.0 million.
- Diluted earnings per share rose to $0.97, up from $0.85 in the previous quarter.
- Quarterly dividend of $0.70 per common share declared, payable on June 13, 2025.
Bank of Hawai'i Corporation (BOH) has posted a robust financial performance for the first quarter of 2025. The bank recorded a net income of $44.0 million, which marks a 12.3% increase from the fourth quarter of 2024 and a 20.9% rise compared to the same period last year.
Diluted earnings per share (EPS) for BOH reached $0.97, a significant increase from the $0.85 reported in the previous quarter and $0.87 from Q1 2024. This growth in EPS underscores the strong profitability improvements the bank has achieved.
Key financial metrics for the Bank of Hawai'i include a net interest income of $125.8 million, a rise of 4.7% quarter-over-quarter and 10.4% year-over-year. The net interest margin also expanded to 2.32%, improving by 13 basis points from the previous quarter and 21 basis points compared to the same period last year, driven by more favorable funding costs.
Total assets for BOH stood at $23.9 billion as of March 31, 2025, reflecting a 1.2% increase from December 31, 2024, and a 2.0% increase year-over-year.
Despite the positive growth, consumer loans saw a slight decrease of 2.0% year-over-year, while commercial loans experienced a 7.3% increase over the same period, illustrating the bank's strategic focus on higher-yielding commercial relationships.
The Board of Directors declared a quarterly dividend of $0.70 per common share, maintaining BOH's commitment to shareholder returns. This dividend is set to be paid on June 13, 2025, to shareholders of record at the close of business on May 30, 2025.
Bank of Hawai'i also reported that its asset quality remains strong, with non-performing assets at just $17.5 million, representing 0.12% of total loans and leases, down by $1.8 million from the previous quarter.
