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Bank Of Hawaii Corporation 2011 Financial Results

The allowance for loan and lease losses was $138.6 million at December 31, 2011, down $4.8 million from the allowance for loan and lease losses of $143.4 million at September 30, 2011 and $147.4 million at December 31, 2010. The ratio of the allowance for loan and lease losses to total loans and leases was 2.50 percent at December 31, 2011, a decrease of 18 basis points from the previous quarter. The reserve for unfunded commitments at December 31, 2011 was unchanged at $5.4 million. Details of loan and lease charge-offs, recoveries, and the components of the total reserve for credit losses are summarized in Table 11.

Other Financial Highlights

Total assets increased to $13.85 billion at December 31, 2011, up from total assets of $13.30 billion at September 30, 2011, and up from total assets of $13.13 billion at December 31, 2010. Average total assets were $13.36 billion during the fourth quarter of 2011, up from average total assets of $13.13 billion during the third quarter of 2011, and up from average total assets of $12.96 billion during the fourth quarter of 2010.

Total loans and leases grew to $5.54 billion at December 31, 2011, up from $5.35 billion at September 30, 2011, and up from $5.34 billion at December 31, 2010. Average total loans and leases were $5.42 billion during the fourth quarter of 2011, up from $5.34 billion during the previous quarter, and up from $5.32 billion during the same quarter last year. Loan and lease portfolio balances, including the higher risk loans outstanding, are summarized in Table 9.

Deposit generation continued to remain strong during the fourth quarter of 2011, increasing to $10.59 billion at December 31, 2011, up from $10.01 billion at September 30, 2011, and up from $9.89 billion at December 31, 2010. Average total deposits were $10.16 billion in the fourth quarter of 2011, higher than average deposits of $9.87 billion during the previous quarter, and up from average deposits of $9.68 billion during the same quarter last year.

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