Q1 2025 Bank of Hawaii Corp Earnings Call Transcript
Key Points
- Net interest income and net interest margin improved for the fourth consecutive quarter, with net interest income growing by 4.6% on a linked basis.
- Credit quality remained strong with low net charge-offs and non-performing assets, indicating a stable loan portfolio.
- Bank of Hawaii Corp (BOH) maintained its leading position in market share within Hawaii, demonstrating strong brand performance.
- Deposit funding costs decreased for the second straight quarter, contributing to improved financial performance.
- The bank's capital levels have improved substantially from a year ago, providing a solid financial foundation.
- Economic conditions in Hawaii remain stable but are impacted by the Maui market, which could affect future performance.
- Non-interest income was slightly lower due to market volatility and reduced customer derivative transactions.
- Expenses increased in the first quarter, partly due to seasonal payroll taxes and benefits, which could pressure future profitability.
- The bank faces potential risks from tariff-related impacts on tourism, particularly affecting Canadian and Japanese markets.
- Loan growth outlook remains uncertain due to market volatility and economic conditions, which could impact future earnings.
Good day and thank you for standing by. Welcome to the Bank of Hawaii Corporation first quarter 2025 earnings conference call. (Operator Instructions). Please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker for today's Chang Park. Please go ahead.
Good morning and good afternoon. Thank you for joining us today for our first quarter 2025 earnings conference call. Joining me today is our Chairman and CEO, Peter Ho; President and Chief Banking Officer, Jim Polk; CFO, Dean Shigemura; Chief Risk Officer, Brad Shairson; and our Deputy CFO, Brad Satenberg.
Before we get started, I want to remind you that today's conference call will contain some forward-looking statements. And while we believe our assumptions are reasonable, the actual results may differ materially from those projected.
During the call today, we'll be referencing a slide presentation as well as the earnings release. Both of these are available on our
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