Bank of Hawaii Corporation reported diluted earnings per common share of $0.85 for the fourth quarter of 2024, compared to $0.93 in the linked quarter. For the full year 2024, diluted earnings per common share were $3.46, down from $4.14 in 2023, with net income for the year at $150.0 million.
Net interest income for the fourth quarter increased to $120.2 million, a 2.2% rise from the linked quarter, and the net interest margin expanded by 1 basis point to 2.19%. Average loan balances grew by 1.1% from the linked quarter to $14.1 billion, primarily driven by commercial mortgage portfolio production.
Asset quality remained strong, with non-performing assets at $19.3 million, a decrease of $0.5 million from the linked quarter, and net loan and lease charge-offs at $3.4 million. The company's Tier 1 Capital Ratio stood at 13.95%, well above regulatory minimums. The Board declared a quarterly cash dividend of $0.70 per common share, payable on March 14, 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.