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Bank of Hawaii Second-Quarter Earnings Top Views, Revenue Falls Short

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Bank of Hawaii Second-Quarter Earnings Top Views, Revenue Falls Short

Bank of Hawaii (BOH) reported higher-than-expected second-quarter earnings on Monday, while revenue growth fell short of market expectations.

The lender's net income rose to $1.47 a share for the quarter ended June 30 from $1.06 the year before, topping the consensus on FactSet of $1.45. Revenue, expressed as the sum of net interest income and total noninterest income, rose to $196.9 million from $174.5 million. Five analysts polled by FactSet had estimated $199.5 million.

Shares of the bank fell 1.3% in Monday trade. The stock is up 22% so far this year.

Noninterest income fell to $43.3 million from $44.8 million last year, weighed down by a $400,000 charge related to a Visa (V) class B share conversion ratio change in the second quarter of 2026. Within noninterest income, trust and asset management increased, while fees, exchange and other services declined.

Net interest income increased to $153.6 million from $129.7 million in the 2025 quarter, according to Bank of Hawaii. Net interest margin advanced to 2.78% from 2.39%.

"Net interest margin expanded for the ninth consecutive quarter, supported by the ongoing repricing of cash flows," Chief Executive Jim Polk said in a statement.

Bank of Hawaii's average total deposits in the second quarter rose to about $20.83 billion from nearly $20.7 billion a year earlier, but declined from the previous quarter. "Average total deposits were modestly lower during a seasonally lower period," Polk said.

Last week, two of Bank of Hawaii's peers reported year-over-year improvements in their second-quarter results.

First Hawaiian Inc.'s (FHB) second-quarter EPS rose to $0.60 from $0.58 a year ago. Revenue, expressed as the sum of net interest income and total noninterest income, grew to $231.3 million from $217.5 million. Central Pacific Financial (CPF) reported annual gains in second-quarter earnings and net interest income.

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