Bank Of Hawaii Corporation Third Quarter 2012 Financial Results

The allowance for loan and lease losses was $131.0 million at September 30, 2012, down $1.5 million from the allowance for loan and lease losses of $132.4 million at June 30, 2012 and $143.4 million at September 30, 2011. The ratio of the allowance for loan and lease losses to total loans and leases was 2.27 percent at September 30, 2012, down from 2.34 percent at June 30, 2012 and 2.68 percent at September 30, 2011. The reserve for unfunded commitments at September 30, 2012 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 12.

Other Financial Highlights

Total assets were $13.38 billion at September 30, 2012, down from total assets of $13.92 billion at June 30, 2012, and up from $13.30 billion at September 30, 2011. Average total assets were $13.49 billion during the third quarter of 2012, down from average assets of $13.75 billion during the previous quarter, and up from $13.13 billion during the third quarter last year.

Total loans and leases were $5.78 billion at September 30, 2012, up from $5.67 billion at June 30, 2012, and up from $5.35 billion at September 30, 2011 with growth in all categories except lease financing and residential lending. Average total loans and leases were $5.72 billion during the third quarter of 2012, up from $5.64 billion during the previous quarter, and up from $5.34 billion during the third quarter last year. Loan and lease portfolio balances, including the higher risk loans outstanding, are summarized in Table 10.

Consumer and commercial deposits remained stable during the third quarter of 2012. Total deposit balances declined to $11.22 billion at September 30, 2012 primarily due to the previously mentioned decrease in public time deposits. Average total deposits were $11.30 billion in the third quarter of 2012, up from average deposits of $10.62 billion during the previous quarter, and up from $9.87 billion during the third quarter last year. Deposit balances are summarized in Tables 7a, 7b, and 10.

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