Bank of Hawaii reports Q3 EPS $1.17, consensus 97c

Reports Q3 provision for credit losses $2.0M vs. $2.5M in the previous quarter and no provision for credit loss in Q3 2022. Tangible book value was $28.99 from $28.87 at previous quarter end. “Bank of Hawai’i delivered another quarter of solid financial results,” said Peter Ho, Chairman, President, and CEO. “Total deposits were up 1.4% linked quarter, and average deposits were up by 2.4%, driven by growth in core relationship deposits. Our credit quality remained strong, with non-performing assets of 0.08% at quarter end and net charge offs of 0.06% in the quarter. NIM declined modestly by 9 basis points, while our core noninterest income and operating expense remained steady. Finally, one of our key priorities this quarter was to support our clients, employees, and community as we coped with the tragic situation in Maui. Taking care of our community has always been a fundamental priority and we will continue to support our community as we build a stronger Maui.”