Bank of Hawaii Corporation reported diluted earnings per common share of $0.97 for the first quarter of 2025, an increase from $0.85 in the linked quarter and $0.87 in the same period last year. Net income for the quarter was $44.0 million, up 12.3% from the linked quarter.
Net interest income for the first quarter reached $125.8 million, a 4.7% increase from the linked quarter, marking the fourth consecutive quarter of improvement. The net interest margin expanded by 13 basis points from the linked quarter to 2.32%, driven by lower interest-bearing deposit rates and a slowing deposit mix shift.
The company's asset quality remained strong, with non-performing assets decreasing by $1.8 million from the linked quarter to $17.5 million, representing 0.12% of total loans and leases. Total loans and leases increased by 0.3% from the linked quarter to $14.1 billion, with commercial loans growing due to construction portfolio production. The Board declared a quarterly cash dividend of $0.70 per common share, payable on June 13, 2025.
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