Bank of Hawaii Corporation Financial Statements

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Bank of Hawaii Corporation Financial Statements

Note 24.  Bank of Hawaii Corporation Financial Statements

Condensed financial statements of the Parent were as follows:

Condensed Statements of Comprehensive Income

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Income
Dividends from Bank of Hawaii	$	134,000		$	220,000		$	185,000
Investment Securities Gains (Losses), Net		13,336			(850	)		(819	)
Other Income		154			261			198
Total Income		147,490			219,411			184,379
Noninterest Expense
Intercompany Salaries and Services		758			768			734
Other Expenses		1,864			1,682			1,701
Total Noninterest Expense		2,622			2,450			2,435
Income Before Income Tax Benefit and Equity in Undistributed Income    of Subsidiaries		144,868			216,961			181,944
Income Tax Benefit (Expense)		(2,395	)		1,818			2,229
Equity in Undistributed Income of Subsidiaries		11,331			7,134			35,429
Net Income	$	153,804		$	225,913		$	219,602
Comprehensive Income	$	192,738		$	245,844		$	210,751

Condensed Statements of Condition

(dollars in thousands)	December 31, 2020		December 31, 2019
Assets
Cash with Bank of Hawaii	$	66,704	$	37,056
Investment Securities Held-to-Maturity		2,501		4,974
Goodwill		14,129		14,129
Other Assets		12,305		12,401
Equity in Net Assets of Subsidiaries		1,290,455		1,229,775
Total Assets	$	1,386,094	$	1,298,335
Liabilities
Income Taxes Payable	$	974	$	58
Other Liabilities		10,613		11,445
Total Liabilities		11,587		11,503
Shareholders' Equity		1,374,507		1,286,832
Total Liabilities and Shareholders' Equity	$	1,386,094	$	1,298,335

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Operating Activities
Net Income	$	153,804		$	225,913		$	219,602
Adjustments to Reconcile Net Income to Net Cash Provided by    Operating Activities:
Share-Based Compensation		795			760			630
Net (Gains) Losses on Sales of Investment Securities		(13,336	)		850			819
Equity in Undistributed Income of Subsidiaries		(11,331	)		(7,134	)		(35,429	)
Net Change in Other Assets and Other Liabilities		(68	)		(135	)		870
Net Cash Provided by Operating Activities		129,864			220,254			186,492
Investing Activities
Proceeds from (Expenses related to) Sales of Investment Securities		18,336			4,259			(819	)
Purchase of Investment Securities Held-to-Maturity		(2,501	)		(4,933	)		—
Net Cash Provided by (Used in) Investing Activities		15,835			(674	)		(819	)
Financing Activities
Proceeds from Issuance of Common Stock		9,389			7,872			7,873
Repurchase of Common Stock		(18,006	)		(137,649	)		(91,988	)
Cash Dividends Paid		(107,434	)		(105,478	)		(98,496	)
Net Cash Used in Financing Activities		(116,051	)		(235,255	)		(182,611	)
Net Change in Cash and Cash Equivalents		29,648			(15,675	)		3,062
Cash and Cash Equivalents at Beginning of Period		37,056			52,731			49,669
Cash and Cash Equivalents at End of Period	$	66,704		$	37,056		$	52,731