Q1 2026 Bank of Hawaii Corp Earnings Call Transcript
Key Points
- Bank of Hawaii Corp (BOH) reported an eighth consecutive quarter of net interest income and net interest margin expansion.
- The company successfully remixed $643 million in fixed rate loans and investments, increasing the yield on earning assets.
- Deposit trends are positive, with a 17 basis point decline in average cost of total deposits.
- The bank maintains strong capital and excellent credit quality, with a focus on supporting local communities.
- BOH is making progress in wealth management, expanding investment capabilities and opening the Center for Family Business & Entrepreneurs.
- Net income and diluted EPS decreased compared to the previous quarter due to elevated noninterest expenses.
- Noninterest income declined by $2.3 million, primarily due to lower loan and deposit fee income and a dip in wealth management earnings.
- The bank faces potential headwinds from tensions in the Middle East, rising energy costs, and sustained inflation affecting consumer confidence.
- Delinquencies increased to 40 basis points, up 4 basis points from the linked quarter and 10 basis points year-over-year.
- The company is cautious about loan growth, citing uncertainty in the overall environment and the need for more clarity before increasing growth expectations.
Good day, and thank you for standing by. Welcome to the Bank of Hawaii Corporation first-quarter 2026 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Chang Park, Executive Vice President, Investor Relations. Please go ahead.
Good morning and good afternoon. Thank you for joining us today for our first-quarter 2026 earnings conference call. Joining me today is our President and CEO, Jim Polk; CFO, Brad Satenberg; and Chief Risk Officer, Brad Shairson.
Before we get started, I want to remind you that today's conference call will contain some forward-looking statements. 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 website, boh.com, under the investor
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