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Bank Of Hawaii Corporation First Quarter 2012 Financial Results

Other Financial Highlights

Total assets were $13.76 billion at March 31, 2012, down from total assets of $13.85 billion at December 31, 2011, and up from total assets of $12.96 billion at March 31, 2011. Average total assets were $13.68 billion during the first quarter of 2012, up from $13.36 billion during the previous quarter and $12.97 billion during the same quarter last year.

Total loans and leases increased to $5.60 billion at March 31, 2012, up from $5.54 billion at December 31, 2011, and up from $5.33 billion at March 31, 2011. Average total loans and leases were $5.56 billion during the first quarter of 2012, up from $5.42 billion during the previous quarter, and up from $5.31 billion during the same quarter last year. Loan and lease portfolio balances, including the higher risk loans outstanding, are summarized in Table 10.

The securities portfolio was $7.25 billion at March 31, 2012, up from $7.11 billion at December 31, 2011 and up from $6.47 billion at March 31, 2011. The portfolio remains largely comprised of securities issued by U. S. government agencies. Funds sold decreased to $213.5 million at March 31, 2012 compared to $512.4 million at December 31, 2011 and $419.4 million at March 31, 2011.

Total deposits were $10.62 billion at March 31, 2012, up from $10.59 billion at December 31, 2011, and up from total deposits of $9.91 billion at March 31, 2011. Average total deposits were $10.43 billion in the first quarter of 2012, higher than average deposits of $10.16 billion during the previous quarter, and up from $9.87 billion during the first quarter last year.

During the first quarter of 2012, the Company repurchased 638.8 thousand shares of common stock at a total cost of $30.0 million under its share repurchase program. The average cost was $46.93 per share repurchased. From April 2 through April 20, 2012, the Company repurchased an additional 122.5 thousand shares of common stock at an average cost of $47.47 per share repurchased. From the beginning of the share repurchase program initiated during July 2001 through March 31, 2012, the Company has repurchased 49.2 million shares and returned nearly $1.8 billion to shareholders at an average cost of $36.12 per share. Remaining buyback authority under the share repurchase program was $44.0 million at March 31, 2012.

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