XML 55 R43.htm IDEA: XBRL DOCUMENT v3.23.3
Fair value measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Carrying or Notional Amount, Fair Value and Placement in the Fair Value Hierarchy of the Company’s Financial Instruments The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments.
Estimated fair value
(in thousands)Carrying or notional amountQuoted prices in
active markets
for identical assets
 (Level 1)		Significant
 other observable
 inputs
 (Level 2)		Significant
unobservable
inputs
 (Level 3)		Total
September 30, 2023     
Financial assets     
HEI consolidated
Available-for-sale investment securities
$1,266,412 $— $1,251,918 $14,494 $1,266,412 
Held-to-maturity investment securities
1,212,005 — 1,052,221 — 1,052,221 
Loans, net6,116,811 — 2,174 5,541,812 5,543,986 
Mortgage servicing rights8,376 — — 18,867 18,867 
Derivative assets19,044 15 1,350 — 1,365 
Financial liabilities    
HEI consolidated
Deposit liabilities1,050,692 — 1,035,501 — 1,035,501 
Other bank borrowings750,000 — 743,366 — 743,366 
Long-term debt, net—other than bank
2,944,589 — 2,120,573 — 2,120,573 
  Derivative liabilities22,949 — 1,344 — 1,344 
Hawaiian Electric consolidated
Long-term debt, net 2,034,040 — 1,400,901 — 1,400,901 
December 31, 2022     
Financial assets     
HEI consolidated
Available-for-sale investment securities
$1,429,667 $— $1,414,765 $14,902 $1,429,667 
Held-to-maturity investment securities
1,251,747 — 1,150,971 — 1,150,971 
Loans, net5,907,514 — 821 5,453,381 5,454,202 
Mortgage servicing rights9,047 — — 17,646 17,646 
Derivative assets16,220 18 1,330 — 1,348 
Financial liabilities    
HEI consolidated
Deposit liabilities611,718 — 597,617 — 597,617 
Short-term borrowings—other than bank172,568 — 172,568 — 172,568 
Other bank borrowings695,120 — 695,095 — 695,095 
Long-term debt, net—other than bank2,384,980 — 2,122,605 — 2,122,605 
Derivative liabilities22,949 — 472 — 472 
Hawaiian Electric consolidated
Short-term borrowings87,967 — 87,967 — 87,967 
Long-term debt, net 1,684,816 — 1,487,496 — 1,487,496 
Schedule of Assets Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis were as follows:
September 30, 2023December 31, 2022
 Fair value measurements usingFair value measurements using
(in thousands)Level 1Level 2Level 3Level 1Level 2Level 3
Available-for-sale investment securities (bank segment)      
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
$— $1,145,167 $— $— $1,292,968 $— 
U.S. Treasury and federal agency obligations— 75,000 — — 81,063 — 
Corporate bonds— 31,751 — — 40,734 — 
Mortgage revenue bonds— — 14,494 — — 14,902 
 $— $1,251,918 $14,494 $— $1,414,765 $14,902 
Derivative assets     
Interest rate lock commitments (bank segment)1
$— $54 $— $— $9 $— 
Forward commitments (bank segment)1
15 — — 18 — — 
Interest rate swap (Other segment)2
— 1,296 — — 1,321 — 
 $15 $1,350 $— $18 $1,330 $— 
Derivative liabilities
Interest rate swap (Other segment)2
$— $1,344 $— $— $472 $— 
1     Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income.
2     Derivatives are included in other assets and other liabilities in the balance sheets.
Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:
Three months ended September 30Nine months ended September 30
Mortgage revenue bonds2023202220232022
(in thousands)
Beginning balance$14,630 $15,165 $14,902 $15,427 
Principal payments received(136)(132)(408)(394)
Purchases— — — — 
Unrealized gain (loss) included in other comprehensive income— — — — 
Ending balance$14,494 $15,033 $14,494 $15,033