Financial Release

• Diluted Earnings Per Share $1.05
• Net Income $44.7 Million
• Board of Directors Increases Dividend to $0.52 Per Share

HONOLULU--(BUSINESS WIRE)--Jul. 24, 2017-- Bank of Hawaii Corporation (NYSE: BOH) today reported diluted earnings per share of $1.05 for the second quarter of 2017, down from diluted earnings per share of $1.20 in the previous quarter and up from diluted earnings per share of $1.03 in the same quarter last year. Net income for the second quarter of 2017 was $44.7 million compared with net income of $51.2 million in the first quarter of 2017 and net income of $44.2 million in the second quarter of 2016. Income for the first quarter of 2017 included sales of $12.5 million in Visa Class B shares. There were no sales of Visa shares during the second quarter of 2017 or the second quarter of 2016.

Loan and lease balances increased to $9.4 billion at June 30, 2017, up 3.0 percent from March 31, 2017 and up 12.7 percent compared with June 30, 2016. Deposits grew 2.1 percent during the second quarter as balances increased to $14.8 billion at June 30, 2017 compared with $14.5 billion at March 31, 2017 and $13.6 billion at June 30, 2016.

“Bank of Hawaii Corporation continued to perform well during the second quarter of 2017,” said Peter Ho, Chairman, President and CEO. “Our loans and deposits continued to grow, our margin improved, expenses were well controlled, and our asset quality remains strong. We are also pleased to increase the dividend to our shareholders for the third time in the past eighteen months.”

The return on average assets for the second quarter of 2017 was 1.09 percent, down from 1.26 percent in the previous quarter and 1.14 percent in the same quarter last year. The return on average equity for the second quarter of 2017 was 14.87 percent, down from 17.63 percent for the first quarter of 2017 and 15.56 percent in the second quarter of 2016. The efficiency ratio for the second quarter of 2017 was 55.99 percent compared with 53.42 percent in the previous quarter and 57.35 percent in the same quarter last year.

For the six-month period ended June 30, 2017, net income was $95.8 million, an increase of $1.4 million from net income of $94.5 million during the same period last year. Diluted earnings per share were $2.24 for the first half of 2017, an increase from diluted earnings per share of $2.19 for the first half of 2016. The return on average assets for the six-month period ended June 30, 2017 was 1.17 percent compared with 1.22 percent for the same six months in 2016. The year-to-date return on average equity was 16.22 percent for the first half of 2017 compared with 16.71 percent for the six month period ended June 30, 2016. The efficiency ratio for the first half of 2017 improved to 54.67 percent compared with 56.08 percent in the same period last year.

Financial Highlights

Net interest income, on a taxable equivalent basis, for the second quarter of 2017 was $115.3 million, an increase of $2.4 million compared with net interest income of $112.9 million in the first quarter of 2017 and an increase of $8.8 million compared with net interest income of $106.5 million in the second quarter of 2016. Net interest income for the first half of 2017 was $228.3 million, an increase of $15.7 million compared with net interest income of $212.6 million for the first half of 2016. Analyses of the changes in net interest income are included in Tables 8a, 8b and 8c.

The net interest margin was 2.92 percent for the second quarter of 2017, up 3 basis points from the net interest margin of 2.89 percent in the previous quarter and a 7 basis point increase from the net interest margin of 2.85 percent in the second quarter of 2016. The net interest margin for the first six months of 2017 was 2.90 percent compared with 2.86 percent for the same six-month period last year.

Results for the second quarter of 2017 included a provision for credit losses of $4.3 million compared with a provision for credit losses of $4.4 million in the previous quarter and a provision for credit losses of $1.0 million in the same quarter last year. The provision for credit losses during the first half of 2017 was $8.7 million compared with a negative provision of $1.0 million during the same period in 2016. Provision expense for the first half of 2016 reflects a recovery of $6.6 million related to one commercial client in Guam.

Noninterest income was $45.2 million in the second quarter of 2017, a decrease of $10.7 million compared with noninterest income of $55.9 million in the first quarter of 2017 and a decrease of $1.3 million compared with noninterest income of $46.5 million in the second quarter of 2016. There were no significant items in noninterest income during the second quarter of 2017. Noninterest income in the first quarter of 2017 included the previously mentioned gain of $12.5 million resulting from the sale of 90,000 Visa Class B shares. Noninterest income in the second quarter of 2016 included a service fee of $1.2 million resulting from the sale of trust real estate. Noninterest income for the first half of 2017 was $101.2 million, a decrease of $1.5 million compared with noninterest income of $102.7 million for the first half of 2016.

Noninterest expense was $88.2 million in the second quarter of 2017, a decrease of $0.4 million compared with noninterest expense of $88.6 million in the first quarter of 2017 and an increase of $2.1 million compared with noninterest expense of $86.1 million in the second quarter last year. There were no significant items in noninterest expense during the second quarter of 2017. Noninterest expense in the first quarter of 2017 included seasonal payroll expenses of approximately $2.5 million. Noninterest expense in the second quarter of 2016 included a net gain of $1.3 million from the sale of bank-owned real estate property. An analysis of noninterest expenses related to salaries and benefits is included in Table 9. Noninterest expense for the first half of 2017 was $176.8 million, an increase of $3.3 million compared with noninterest expense of $173.5 million for the first half of 2016.

The effective tax rate for the second quarter of 2017 was 31.37 percent compared with 29.72 percent in the previous quarter and 29.77 percent in the same quarter last year. The lower effective tax rate for the first quarter of 2017 was due to the adoption of an accounting change related to the exercise of stock options and the vesting of restricted stock. The lower effective tax rate in second quarter of 2016 was primarily due to the release of state tax reserves. The effective tax rate for the first half of 2017 was 30.50 percent compared with 30.98 percent during the same period last year.

The Company’s business segments are defined as Retail Banking, Commercial Banking, Investment Services, and Treasury & Other. Their results are determined based on the Company’s internal financial management reporting process and organizational structure. Selected financial information for the business segments is included in Tables 13a and 13b.

Asset Quality

The Company’s asset quality continued to remain solid during the second quarter of 2017. Total non-performing assets were $16.4 million at June 30, 2017, down $2.6 million from non-performing assets of $19.0 million at March 31, 2017 and up $0.1 million from non-performing assets of $16.3 million at June 30, 2016. As a percentage of total loans and leases, including foreclosed real estate, non-performing assets were 0.17 percent at the end of the second quarter of 2017, down from 0.21 percent at the end of the first quarter of 2017 and down from 0.20 percent at the end of the second quarter last year.

Accruing loans and leases past due 90 days or more were $7.0 million at June 30, 2017, up from $5.9 million at March 31, 2017 and down from $8.8 million at June 30, 2016. Restructured loans not included in non-accrual loans or accruing loans past due 90 days or more were $53.2 million at June 30, 2017, an increase from $53.0 million at March 31, 2017 and $52.2 million at June 30, 2016. More information on non-performing assets and accruing loans and leases past due 90 days or more is presented in Table 11.

Net loan and lease charge-offs during the second quarter of 2017 were $3.0 million or 0.13 percent annualized of total average loans and leases outstanding. Loan and lease charge-offs of $5.5 million during the quarter were partially offset by recoveries of $2.5 million. Net charge-offs during the first quarter of 2017 were $3.6 million or 0.16 percent annualized of total average loans and leases outstanding and comprised of $5.7 million in charge-offs and recoveries of $2.1 million. Net charge-offs during the second quarter of 2016 were $1.7 million or 0.09 percent annualized of total average loans and leases outstanding and comprised of $3.7 million in charge-offs and recoveries of $2.0 million. Net charge-offs during the first half of 2017 were $6.6 million or 0.15 percent annualized of total average loans and leases outstanding compared with net recoveries of $2.1 million for the first half of 2016. Results for the first half of 2016 include the previously mentioned recovery related to one commercial client in Guam.

The allowance for loan and lease losses increased to $106.4 million at June 30, 2017 compared with $105.1 million at March 31, 2017 and $103.9 million at June 30, 2016. The ratio of the allowance for loan and lease losses to total loans and leases was 1.13 percent at June 30, 2017, a decrease of 2 basis points from the previous quarter and 12 basis points from the second quarter last year. The allowance for loan and lease losses at June 30, 2017 is commensurate with the Company’s asset quality and the Hawaii economy. As a result of continued strong growth in Hawaii commercial lending, the reserve for unfunded commitments was increased to $6.8 million at June 30, 2017 compared with the reserve for unfunded commitments of $6.6 million at March 31, 2017 and June 30, 2016. 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 $17.0 billion at June 30, 2017, up from total assets of $16.7 billion at March 31, 2017 and up from total assets of $15.9 billion at June 30, 2016. Average total assets increased to $16.5 billion during the second quarter of 2017, up from $16.4 billion during the previous quarter and $15.6 billion during the same quarter last year.

The investment securities portfolio was $6.1 billion at June 30, 2017, down from $6.2 billion at March 31, 2017 and up from $6.0 billion at June 30, 2016. The portfolio remains largely comprised of securities issued by U. S. government agencies and included $3.8 billion in securities held to maturity and $2.3 billion in securities available for sale at June 30, 2017.

Total loans and leases were $9.4 billion at June 30, 2017, up from total loans and leases of $9.1 billion at March 31, 2017 and up from total loans and leases of $8.3 billion at June 30, 2016. Average total loans and leases increased to $9.2 billion during the second quarter of 2017, up from $9.0 billion during the previous quarter and $8.2 billion during the same quarter last year.

The commercial loan portfolio was $3.7 billion at June 30, 2017, up from $3.6 billion at March 31, 2017 and $3.3 billion at June 30, 2016. The consumer loan portfolio was $5.7 billion at June 30, 2017, up from $5.5 billion at March 31, 2017 and $5.0 billion at June 30, 2016. Loan and lease portfolio balances are summarized in Table 10.

Total deposits were $14.8 billion at June 30, 2017, up from total deposits of $14.5 billion at March 31, 2017 and up from total deposits of $13.6 billion at June 30, 2016. Average total deposits increased to $14.3 billion during the second quarter of 2017, up from $14.2 billion during the previous quarter and $13.5 billion during the same quarter last year.

Consumer deposits were $7.3 billion at June 30, 2017, up from $7.2 billion at March 31, 2017 and $6.6 billion at June 30, 2016. Commercial deposits were $5.9 billion at June 30, 2017, down from $6.1 billion at March 31, 2017 and up from $5.7 billion at June 30, 2016. Other deposits, including public funds, were $1.6 billion at June 30, 2017, up from $1.2 billion at March 31, 2017 and $1.3 billion at June 30, 2016. Deposit balances are summarized in Tables 7 and 10.

During the second quarter of 2017, the Company repurchased 123.1 thousand shares of common stock at a total cost of $9.9 million under its share repurchase program. The average cost was $80.28 per share repurchased. From the beginning of the share repurchase program initiated during July of 2001 through June 30, 2017, the Company has repurchased 53.9 million shares and returned over $2.0 billion to shareholders at an average cost of $38.04 per share. Remaining buyback authority under the share repurchase program was $45.5 million at June 30, 2017. From July 3 through July 21, 2017, the Company repurchased an additional 42.0 thousand shares of common stock at an average cost of $82.52 per share.

Total shareholders’ equity increased to $1.2 billion at June 30, 2017. At June 30, 2017, the Tier 1 Capital Ratio was 13.34 percent compared with 13.41 percent at March 31, 2017 and 13.66 percent at June 30, 2016. The Tier 1 leverage ratio at June 30, 2017 was 7.37 percent compared with 7.29 percent at March 31, 2017 and June 30, 2016.

The Company’s Board of Directors declared a quarterly cash dividend of $0.52 per share on the Company’s outstanding shares. The dividend will be payable on September 15, 2017 to shareholders of record at the close of business on August 31, 2017.

Hawaii Economy

Economic conditions in Hawaii continue to remain positive due to the active construction industry, growing tourism and a strong real estate market. The statewide seasonally-adjusted unemployment rate in Hawaii remains among the lowest in the United States at 2.7 percent in June 2017 compared to 4.4 percent nationally. For the first five months of 2017, total visitor spending increased 9.8 percent and visitor arrivals increased 4.2 percent compared to the same period in 2016. Year-to-date, all four of Hawaii’s largest visitor markets, U. S. West, U. S. East, Japan, and Canada, have reported strong growth compared with the first five months of 2016. For the first six months of 2017, the volume of single-family home sales on Oahu increased 4.4 percent compared with the same period in 2016. The volume of condominium sales on Oahu increased 6.0 percent compared with the same period in 2016. During the first half of 2017 the median sales price of single-family homes on Oahu was 3.2 percent higher and the median sales price of a condominium was 3.6 percent higher compared with 2016. As of June 30, 2017, months of inventory of single-family homes and condominiums on Oahu remained low at approximately 2.7 months and 2.8 months, respectively. More information on current Hawaii economic trends is presented in Table 15.

Conference Call Information

The Company will review its second quarter 2017 financial results today at 2:00 p.m. Eastern Time (8:00 a.m. Hawaii Time). The call will be accessible via teleconference and via the investor relations link of Bank of Hawaii Corporation's website, www.boh.com. The toll-free number is 1 (844) 543-5235 in the United States and 1 (703) 318-2209 for international callers. Use the pass code “Bank of Hawaii” to access the call. A replay will be available for one week beginning approximately 11:00 a.m. Hawaii Time on Monday, July 24, 2017. The replay number is 1 (855) 859-2056 in the United States and 1 (404) 537-3406 from international locations. Enter the pass code 47737328 when prompted. Participants can also dial 1 (800) 585-8367 to access the replay. In addition, a replay will be available on the Company's website, www.boh.com.

Forward-Looking Statements

This news release, and other statements made by the Company in connection with it may contain "forward-looking statements", such as forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations. Do not unduly rely on forward-looking statements. Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawaii Corporation's Annual Report on Form 10-K for the year ended December 31, 2016, which was filed with the U.S. Securities and Exchange Commission. We have not committed to update forward-looking statements to reflect later events or circumstances.

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers, and governments in Hawaii, American Samoa, and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897. For more information about Bank of Hawaii Corporation, see the Company’s web site, www.boh.com.

Bank of Hawaii Corporation and Subsidiaries
Financial Highlights																							Table 1
			Three Months Ended															Six Months Ended
			June 30,					March 31,					June 30,					June 30,
(dollars in thousands, except per share amounts)			2017					2017					2016					2017					2016
For the Period:
Operating Results
Net Interest Income			$	112,279				$	109,872				$	103,550				$	222,151				$	206,574
Provision for Credit Losses				4,250					4,400					1,000					8,650					(1,000	)
Total Noninterest Income				45,236					55,916					46,519					101,152					102,726
Total Noninterest Expense				88,189					88,568					86,071					176,757					173,457
Net Income				44,662					51,176					44,245					95,838					94,455
Basic Earnings Per Share				1.05					1.21					1.04					2.26					2.21
Diluted Earnings Per Share				1.05					1.20					1.03					2.24					2.19
Dividends Declared Per Share				0.50					0.50					0.48					1.00					0.93
Performance Ratios
Return on Average Assets				1.09		%			1.26		%			1.14		%			1.17		%			1.22		%
Return on Average Shareholders' Equity				14.87					17.63					15.56					16.22					16.71
Efficiency Ratio 1				55.99					53.42					57.35					54.67					56.08
Net Interest Margin 2				2.92					2.89					2.85					2.90					2.86
Dividend Payout Ratio 3				47.62					41.32					46.15					44.25					42.08
Average Shareholders' Equity to Average Assets				7.30					7.16					7.31					7.23					7.29
Average Balances
Average Loans and Leases			$	9,217,779				$	9,020,351				$	8,205,104				$	9,119,610				$	8,072,600
Average Assets				16,495,925					16,434,606					15,639,596					16,465,435					15,588,335
Average Deposits				14,253,149					14,218,886					13,453,953					14,236,112					13,394,251
Average Shareholders' Equity				1,204,837					1,177,326					1,143,884					1,191,157					1,136,722
Per Share of Common Stock
Book Value			$	28.45				$	27.92				$	26.96				$	28.45				$	26.96
Tangible Book Value				27.72					27.18					26.23					27.72					26.23
Market Value
Closing				82.97					82.36					68.80					82.97					68.80
High				84.99					90.80					72.77					90.80					72.77
Low				75.92					77.03					64.96					75.92					54.55
								June 30,					March 31,					December 31,					June 30,
								2017					2017					2016					2016
As of Period End:
Balance Sheet Totals
Loans and Leases								$	9,387,613				$	9,113,809				$	8,949,785				$	8,331,469
Total Assets									16,981,292					16,664,215					16,492,367					15,860,901
Total Deposits									14,784,649					14,476,533					14,320,240					13,643,807
Other Debt									267,904					267,921					267,938					267,970
Total Shareholders' Equity									1,213,757					1,193,137					1,161,537					1,157,219
Asset Quality
Non-Performing Assets								$	16,368				$	19,003				$	19,761				$	16,280
Allowance for Loan and Lease Losses									106,353					105,064					104,273					103,932
Allowance to Loans and Leases Outstanding									1.13		%			1.15		%			1.17		%			1.25		%
Capital Ratios
Common Equity Tier 1 Capital Ratio									13.34		%			13.41		%			13.24		%			13.66		%
Tier 1 Capital Ratio									13.34					13.41					13.24					13.66
Total Capital Ratio									14.58					14.66					14.49					14.91
Tier 1 Leverage Ratio									7.37					7.29					7.21					7.29
Total Shareholders' Equity to Total Assets									7.15					7.16					7.04					7.30
Tangible Common Equity to Tangible Assets 4									6.97					6.98					6.86					7.11
Tangible Common Equity to Risk-Weighted Assets 4									13.01					13.04					12.81					13.49
Non-Financial Data
Full-Time Equivalent Employees									2,142					2,115					2,122					2,136
Branches									69					69					69					70
ATMs									388					441					449					451

1 Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).

2 Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

3 Dividend payout ratio is defined as dividends declared per share divided by basic earnings per share.

4 Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. See Table 2 “Reconciliation of Non-GAAP Financial Measures."

Bank of Hawaii Corporation and Subsidiaries
Reconciliation of Non-GAAP Financial Measures												Table 2
			June 30,			March 31,			December 31,			June 30,
(dollars in thousands)			2017			2017			2016			2016
Total Shareholders' Equity			$	1,213,757		$	1,193,137		$	1,161,537		$	1,157,219
Less: Goodwill				31,517			31,517			31,517			31,517
Tangible Common Equity			$	1,182,240		$	1,161,620		$	1,130,020		$	1,125,702
Total Assets			$	16,981,292		$	16,664,215		$	16,492,367		$	15,860,901
Less: Goodwill				31,517			31,517			31,517			31,517
Tangible Assets			$	16,949,775		$	16,632,698		$	16,460,850		$	15,829,384
Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements			$	9,087,057		$	8,908,024		$	8,823,485		$	8,343,158
Total Shareholders' Equity to Total Assets				7.15	%		7.16	%		7.04	%		7.30	%
Tangible Common Equity to Tangible Assets (Non-GAAP)				6.97	%		6.98	%		6.86	%		7.11	%
Tier 1 Capital Ratio				13.34	%		13.41	%		13.24	%		13.66	%
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP)				13.01	%		13.04	%		12.81	%		13.49	%

Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Income																				Table 3
			Three Months Ended													Six Months Ended
			June 30,				March 31,				June 30,					June 30,
(dollars in thousands, except per share amounts)			2017				2017				2016					2017				2016
Interest Income
Interest and Fees on Loans and Leases			$	90,909			$	87,937			$	82,323				$	178,846			$	163,218
Income on Investment Securities
Available-for-Sale				11,835				11,084				10,521					22,919				21,335
Held-to-Maturity				19,918				19,706				20,168					39,624				40,559
Deposits				2				5				2					7				6
Funds Sold				696				890				618					1,586				1,371
Other				208				230				153					438				365
Total Interest Income				123,568				119,852				113,785					243,420				226,854
Interest Expense
Deposits				4,998				3,691				3,081					8,689				5,967
Securities Sold Under Agreements to Repurchase				5,079				5,185				6,134					10,264				12,287
Funds Purchased				39				3				3					42				6
Short-Term Borrowings				64				-				-					64				-
Other Debt				1,109				1,101				1,017					2,210				2,020
Total Interest Expense				11,289				9,980				10,235					21,269				20,280
Net Interest Income				112,279				109,872				103,550					222,151				206,574
Provision for Credit Losses				4,250				4,400				1,000					8,650				(1,000	)
Net Interest Income After Provision for Credit Losses				108,029				105,472				102,550					213,501				207,574
Noninterest Income
Trust and Asset Management				11,796				11,479				12,707					23,275				23,963
Mortgage Banking				3,819				3,300				4,088					7,119				7,277
Service Charges on Deposit Accounts				8,009				8,325				8,150					16,334				16,593
Fees, Exchange, and Other Service Charges				13,965				13,332				13,978					27,297				27,422
Investment Securities Gains (Losses), Net				(520	)			12,133				(312	)				11,613				10,868
Annuity and Insurance				2,161				1,995				2,006					4,156				3,907
Bank-Owned Life Insurance				1,550				1,497				1,551					3,047				3,099
Other				4,456				3,855				4,351					8,311				9,597
Total Noninterest Income				45,236				55,916				46,519					101,152				102,726
Noninterest Expense
Salaries and Benefits				50,113				51,602				50,289					101,715				100,803
Net Occupancy				8,131				8,168				7,158					16,299				14,161
Net Equipment				5,706				5,501				5,065					11,207				10,474
Data Processing				3,881				3,410				3,972					7,291				7,923
Professional Fees				2,592				2,779				2,047					5,371				4,686
FDIC Insurance				2,097				2,209				2,144					4,306				4,496
Other				15,669				14,899				15,396					30,568				30,914
Total Noninterest Expense				88,189				88,568				86,071					176,757				173,457
Income Before Provision for Income Taxes				65,076				72,820				62,998					137,896				136,843
Provision for Income Taxes				20,414				21,644				18,753					42,058				42,388
Net Income			$	44,662			$	51,176			$	44,245				$	95,838			$	94,455
Basic Earnings Per Share			$	1.05			$	1.21			$	1.04				$	2.26			$	2.21
Diluted Earnings Per Share			$	1.05			$	1.20			$	1.03				$	2.24			$	2.19
Dividends Declared Per Share			$	0.50			$	0.50			$	0.48				$	1.00			$	0.93
Basic Weighted Average Shares				42,353,976				42,406,006				42,729,731					42,379,730				42,825,369
Diluted Weighted Average Shares				42,658,885				42,749,866				42,942,960					42,704,010				43,033,199

Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Comprehensive Income																Table 4
			Three Months Ended										Six Months Ended
			June 30,			March 31,			June 30,				June 30,
(dollars in thousands)			2017			2017			2016				2017			2016
Net Income			$	44,662		$	51,176		$	44,245			$	95,838		$	94,455
Other Comprehensive Income, Net of Tax:
Net Unrealized Gains on Investment Securities				3,106			4,894			5,157				8,000			13,851
Defined Benefit Plans				147			146			141				293			282
Total Other Comprehensive Income				3,253			5,040			5,298				8,293			14,133
Comprehensive Income			$	47,915		$	56,216		$	49,543			$	104,131		$	108,588

Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Condition															Table 5
			June 30,				March 31,				December 31,				June 30,
(dollars in thousands)			2017				2017				2016				2016
Assets
Interest-Bearing Deposits in Other Banks			$	3,913			$	3,486			$	3,187			$	3,819
Funds Sold				742,221				620,065				707,343				615,395
Investment Securities
Available-for-Sale				2,316,728				2,341,570				2,186,041				2,299,638
Held-to-Maturity (Fair Value of $3,785,641; $3,848,609; $3,827,527; and $3,890,220)				3,782,702				3,848,088				3,832,997				3,798,200
Loans Held for Sale				20,354				20,899				62,499				105,824
Loans and Leases				9,387,613				9,113,809				8,949,785				8,331,469
Allowance for Loan and Lease Losses				(106,353	)			(105,064	)			(104,273	)			(103,932	)
Net Loans and Leases				9,281,260				9,008,745				8,845,512				8,227,537
Total Earning Assets				16,147,178				15,842,853				15,637,579				15,050,413
Cash and Due from Banks				128,093				119,972				169,077				133,836
Premises and Equipment, Net				119,569				114,865				113,505				109,832
Accrued Interest Receivable				46,595				48,654				46,444				45,709
Foreclosed Real Estate				1,991				2,529				1,686				1,728
Mortgage Servicing Rights				24,471				24,291				23,663				19,631
Goodwill				31,517				31,517				31,517				31,517
Bank-Owned Life Insurance				277,235				275,685				274,188				271,274
Other Assets				204,643				203,849				194,708				196,961
Total Assets			$	16,981,292			$	16,664,215			$	16,492,367			$	15,860,901
Liabilities
Deposits
Noninterest-Bearing Demand			$	4,706,962			$	4,593,783			$	4,772,727			$	4,383,496
Interest-Bearing Demand				3,029,549				2,886,573				2,934,107				2,838,744
Savings				5,364,191				5,596,080				5,395,699				5,165,808
Time				1,683,947				1,400,097				1,217,707				1,255,759
Total Deposits				14,784,649				14,476,533				14,320,240				13,643,807
Funds Purchased				-				4,616				9,616				7,333
Securities Sold Under Agreements to Repurchase				505,292				505,292				523,378				586,785
Other Debt				267,904				267,921				267,938				267,970
Retirement Benefits Payable				48,346				48,436				48,451				47,438
Accrued Interest Payable				5,105				6,410				5,334				5,532
Taxes Payable and Deferred Taxes				31,444				42,046				21,674				20,979
Other Liabilities				124,795				119,824				134,199				123,838
Total Liabilities				15,767,535				15,471,078				15,330,830				14,703,682
Shareholders' Equity
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: June 30, 2017 - 57,972,647 / 42,655,954; March 31, 2017 - 57,962,462 / 42,736,032; December 31, 2016 - 57,856,672 / 42,635,978; and June 30, 2016 - 57,856,419 / 42,916,163)				576				576				576				576
Capital Surplus				556,409				553,898				551,628				546,928
Accumulated Other Comprehensive Loss				(25,613	)			(28,866	)			(33,906	)			(9,424	)
Retained Earnings				1,468,328				1,444,495				1,415,440				1,370,308
Treasury Stock, at Cost (Shares: June 30, 2017 - 15,316,693; March 31, 2017 - 15,226,430; December 31, 2016 - 15,220,694; and June 30, 2016 - 14,940,256)				(785,943	)			(776,966	)			(772,201	)			(751,169	)
Total Shareholders' Equity				1,213,757				1,193,137				1,161,537				1,157,219
Total Liabilities and Shareholders' Equity			$	16,981,292			$	16,664,215			$	16,492,367			$	15,860,901

Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Shareholders' Equity																								Table 6
												Accum.
												Other
												Compre-
												hensive
			Common Shares			Common			Capital			Income				Retained				Treasury
(dollars in thousands)			Outstanding			Stock			Surplus			(Loss)				Earnings				Stock				Total
Balance as of December 31, 2016			42,635,978			$	576		$	551,628		$	(33,906	)		$	1,415,440			$	(772,201	)		$	1,161,537
Net Income			-				-			-			-				95,838				-				95,838
Other Comprehensive Income			-				-			-			8,293				-				-				8,293
Share-Based Compensation			-				-			3,726			-				-				-				3,726
Common Stock Issued under Purchase and Equity
Compensation Plans and Related Tax Benefits			275,605				-			1,055			-				(162	)			7,545				8,438
Common Stock Repurchased			(255,629	)			-			-			-				-				(21,287	)			(21,287	)
Cash Dividends Declared ($1.00 per share)			-				-			-			-				(42,788	)			-				(42,788	)
Balance as of June 30, 2017			42,655,954			$	576		$	556,409		$	(25,613	)		$	1,468,328			$	(785,943	)		$	1,213,757
Balance as of December 31, 2015			43,282,153			$	575		$	542,041		$	(23,557	)		$	1,316,260			$	(719,059	)		$	1,116,260
Net Income			-				-			-			-				94,455				-				94,455
Other Comprehensive Income			-				-			-			14,133				-				-				14,133
Share-Based Compensation			-				-			3,314			-				-				-				3,314
Common Stock Issued under Purchase and Equity
Compensation Plans and Related Tax Benefits			201,445				1			1,573			-				(277	)			4,900				6,197
Common Stock Repurchased			(567,435	)			-			-			-				-				(37,010	)			(37,010	)
Cash Dividends Declared ($0.93 per share)			-				-			-			-				(40,130	)			-				(40,130	)
Balance as of June 30, 2016			42,916,163			$	576		$	546,928		$	(9,424	)		$	1,370,308			$	(751,169	)		$	1,157,219

Bank of Hawaii Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis																										Table 7a
			Three Months Ended										Three Months Ended										Three Months Ended
			June 30, 2017										March 31, 2017										June 30, 2016
			Average			Income/			Yield/				Average			Income/			Yield/				Average			Income/			Yield/
(dollars in millions)			Balance			Expense			Rate				Balance			Expense			Rate				Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks			$	3.6		$	-		0.29		%		$	3.3		$	-		0.57		%		$	4.0		$	-		0.17		%
Funds Sold				353.5			0.7		0.78					544.1			0.9		0.65					526.8			0.6		0.46
Investment Securities
Available-for-Sale
Taxable				1,683.4			8.4		1.98					1,625.4			7.5		1.87					1,619.7			6.9		1.72
Non-Taxable				658.9			5.4		3.26					660.7			5.4		3.26					691.8			5.5		3.17
Held-to-Maturity
Taxable				3,596.1			18.4		2.05					3,589.8			18.2		2.03					3,639.5			18.6		2.05
Non-Taxable				240.9			2.3		3.88					241.8			2.4		3.89					244.6			2.4		3.91
Total Investment Securities				6,179.3			34.5		2.23					6,117.7			33.5		2.19					6,195.6			33.4		2.16
Loans Held for Sale				23.8			0.2		4.04					30.4			0.3		3.99					19.9			0.2		3.64
Loans and Leases 1
Commercial and Industrial				1,251.2			10.9		3.51					1,263.7			10.5		3.38					1,176.0			9.8		3.36
Commercial Mortgage				1,946.3			18.4		3.80					1,881.5			17.5		3.76					1,686.7			16.4		3.91
Construction				240.0			2.8		4.70					259.1			2.9		4.54					210.8			2.3		4.44
Commercial Lease Financing				208.0			1.2		2.27					208.7			1.1		2.18					196.4			1.2		2.36
Residential Mortgage				3,272.7			31.1		3.80					3,201.7			30.9		3.86					3,005.4			30.1		4.01
Home Equity				1,445.8			13.1		3.62					1,367.4			12.0		3.56					1,170.9			10.5		3.61
Automobile				474.1			5.9		4.97					461.7			5.8		5.04					405.9			5.2		5.18
Other 2				379.7			7.6		8.06					376.6			7.3		7.89					353.0			6.9		7.78
Total Loans and Leases				9,217.8			91.0		3.96					9,020.4			88.0		3.94					8,205.1			82.4		4.03
Other				41.0			0.2		2.03					40.1			0.2		2.30					38.1			0.1		1.61
Total Earning Assets 3				15,819.0			126.6		3.21					15,756.0			122.9		3.14					14,989.5			116.7		3.12
Cash and Due from Banks				120.8										132.2										120.4
Other Assets				556.1										546.4										529.7
Total Assets			$	16,495.9									$	16,434.6									$	15,639.6
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand			$	2,862.7			0.5		0.07				$	2,866.4			0.3		0.04				$	2,738.1			0.3		0.04
Savings				5,376.9			1.6		0.12					5,406.2			1.3		0.09					5,184.8			1.1		0.09
Time				1,480.5			2.9		0.78					1,313.7			2.1		0.65					1,214.8			1.7		0.57
Total Interest-Bearing Deposits				9,720.1			5.0		0.21					9,586.3			3.7		0.16					9,137.7			3.1		0.14
Short-Term Borrowings				36.5			0.1		1.10					9.5			-		0.15					7.3			-		0.15
Securities Sold Under Agreements to Repurchase				505.3			5.1		3.98					512.2			5.2		4.05					586.8			6.1		4.14
Other Debt				267.9			1.1		1.66					267.9			1.1		1.66					226.8			1.0		1.80
Total Interest-Bearing Liabilities				10,529.8			11.3		0.43					10,375.9			10.0		0.39					9,958.6			10.2		0.41
Net Interest Income						$	115.3									$	112.9									$	106.5
Interest Rate Spread									2.78		%								2.75		%								2.71		%
Net Interest Margin									2.92		%								2.89		%								2.85		%
Noninterest-Bearing Demand Deposits				4,533.0										4,632.6										4,316.3
Other Liabilities				228.3										248.8										220.8
Shareholders' Equity				1,204.8										1,177.3										1,143.9
Total Liabilities and Shareholders' Equity			$	16,495.9									$	16,434.6									$	15,639.6

1 Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

2 Comprised of other consumer revolving credit, installment, and consumer lease financing.

3 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 35%, of $3,054,000, $3,061,000 and $2,977,000 for the three months ended June 30, 2017, March 31, 2017, and June 30, 2016, respectively.

Bank of Hawaii Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis																Table 7b
			Six Months Ended										Six Months Ended
			June 30, 2017										June 30, 2016
			Average			Income/			Yield/				Average			Income/			Yield/
(dollars in millions)			Balance			Expense			Rate				Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks			$	3.5		$	-		0.42		%		$	4.2		$	-		0.30		%
Funds Sold				448.3			1.6		0.70					587.3			1.4		0.46
Investment Securities
Available-for-Sale
Taxable				1,654.6			15.9		1.93					1,604.1			14.1		1.76
Non-Taxable				659.8			10.7		3.26					703.4			11.1		3.16
Held-to-Maturity
Taxable				3,592.9			36.6		2.04					3,659.5			37.5		2.05
Non-Taxable				241.4			4.7		3.88					245.1			4.8		3.91
Total Investment Securities				6,148.7			67.9		2.21					6,212.1			67.5		2.17
Loans Held for Sale				27.1			0.6		4.01					16.0			0.3		3.74
Loans and Leases 1
Commercial and Industrial				1,257.4			21.5		3.44					1,151.7			20.6		3.59
Commercial Mortgage				1,914.1			35.9		3.78					1,687.9			32.1		3.82
Construction				249.5			5.7		4.62					190.4			4.3		4.53
Commercial Lease Financing				208.3			2.3		2.22					197.7			2.5		2.53
Residential Mortgage				3,237.4			62.0		3.83					2,962.0			59.6		4.03
Home Equity				1,406.8			25.0		3.59					1,137.2			20.6		3.65
Automobile				467.9			11.6		5.01					397.2			10.2		5.19
Other 2				378.2			15.0		7.98					348.5			13.4		7.71
Total Loans and Leases				9,119.6			179.0		3.95					8,072.6			163.3		4.06
Other				40.5			0.4		2.16					38.2			0.4		1.91
Total Earning Assets 3				15,787.7			249.5		3.17					14,930.4			232.9		3.13
Cash and Due from Banks				126.5										125.7
Other Assets				551.2										532.2
Total Assets			$	16,465.4									$	15,588.3
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand			$	2,864.6			0.8		0.06				$	2,749.9			0.5		0.04
Savings				5,391.4			2.9		0.11					5,161.2			2.3		0.09
Time				1,397.5			5.0		0.72					1,211.6			3.2		0.53
Total Interest-Bearing Deposits				9,653.5			8.7		0.18					9,122.7			6.0		0.13
Short-Term Borrowings				23.1			0.1		0.91					7.5			-		0.15
Securities Sold Under Agreements to Repurchase				508.8			10.2		4.01					594.9			12.3		4.09
Other Debt				267.9			2.2		1.66					229.5			2.0		1.77
Total Interest-Bearing Liabilities				10,453.3			21.2		0.41					9,954.6			20.3		0.41
Net Interest Income						$	228.3									$	212.6
Interest Rate Spread									2.76		%								2.72		%
Net Interest Margin									2.90		%								2.86		%
Noninterest-Bearing Demand Deposits				4,582.6										4,271.6
Other Liabilities				238.3										225.4
Shareholders' Equity				1,191.2										1,136.7
Total Liabilities and Shareholders' Equity			$	16,465.4									$	15,588.3

1 Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

2 Comprised of other consumer revolving credit, installment, and consumer lease financing.

3 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 35%, of $6,115,000 and $5,990,000 for the six months ended June 30, 2017 and June 30, 2016, respectively.

Bank of Hawaii Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis											Table 8a
			Three Months Ended June 30, 2017
			Compared to March 31, 2017
(dollars in millions)			Volume 1				Rate 1				Total
Change in Interest Income:
Funds Sold			$	(0.3	)		$	0.1			$	(0.2	)
Investment Securities
Available-for-Sale
Taxable				0.4				0.5				0.9
Held-to-Maturity
Taxable				-				0.2				0.2
Non-Taxable				(0.1	)			-				(0.1	)
Total Investment Securities				0.3				0.7				1.0
Loans Held for Sale				(0.1	)			-				(0.1	)
Loans and Leases
Commercial and Industrial				(0.1	)			0.5				0.4
Commercial Mortgage				0.7				0.2				0.9
Construction				(0.2	)			0.1				(0.1	)
Commercial Lease Financing				-				0.1				0.1
Residential Mortgage				0.7				(0.5	)			0.2
Home Equity				0.8				0.3				1.1
Automobile				0.2				(0.1	)			0.1
Other 2				0.1				0.2				0.3
Total Loans and Leases				2.2				0.8				3.0
Total Change in Interest Income				2.1				1.6				3.7
Change in Interest Expense:
Interest-Bearing Deposits
Demand				-				0.2				0.2
Savings				-				0.3				0.3
Time				0.3				0.5				0.8
Total Interest-Bearing Deposits				0.3				1.0				1.3
Short-Term Borrowings				-				0.1				0.1
Securities Sold Under Agreements to Repurchase				-				(0.1	)			(0.1	)
Total Change in Interest Expense				0.3				1.0				1.3
Change in Net Interest Income			$	1.8			$	0.6			$	2.4

1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

2 Comprised of other consumer revolving credit, installment, and consumer lease financing.

Bank of Hawaii Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis											Table 8b
			Three Months Ended June 30, 2017
			Compared to June 30, 2016
(dollars in millions)			Volume 1				Rate 1				Total
Change in Interest Income:
Funds Sold			$	(0.2	)		$	0.3			$	0.1
Investment Securities
Available-for-Sale
Taxable				0.4				1.1				1.5
Non-Taxable				(0.3	)			0.2				(0.1	)
Held-to-Maturity
Taxable				(0.2	)			-				(0.2	)
Non-Taxable				(0.1	)			-				(0.1	)
Total Investment Securities				(0.2	)			1.3				1.1
Loans and Leases
Commercial and Industrial				0.6				0.5				1.1
Commercial Mortgage				2.5				(0.5	)			2.0
Construction				0.4				0.1				0.5
Commercial Lease Financing				0.1				(0.1	)			-
Residential Mortgage				2.6				(1.6	)			1.0
Home Equity				2.5				0.1				2.6
Automobile				0.9				(0.2	)			0.7
Other 2				0.4				0.3				0.7
Total Loans and Leases				10.0				(1.4	)			8.6
Other				-				0.1				0.1
Total Change in Interest Income				9.6				0.3				9.9
Change in Interest Expense:
Interest-Bearing Deposits
Demand				-				0.2				0.2
Savings				-				0.5				0.5
Time				0.4				0.8				1.2
Total Interest-Bearing Deposits				0.4				1.5				1.9
Short-Term Borrowings				-				0.1				0.1
Securities Sold Under Agreements to Repurchase				(0.8	)			(0.2	)			(1.0	)
Other Debt				0.2				(0.1	)			0.1
Total Change in Interest Expense				(0.2	)			1.3				1.1
Change in Net Interest Income			$	9.8			$	(1.0	)		$	8.8

1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

2 Comprised of other consumer revolving credit, installment, and consumer lease financing.

Bank of Hawaii Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis											Table 8c
			Six Months Ended June 30, 2017
			Compared to June 30, 2016
(dollars in millions)			Volume 1				Rate 1				Total
Change in Interest Income:
Funds Sold			$	(0.4	)		$	0.6			$	0.2
Investment Securities
Available-for-Sale
Taxable				0.4				1.4				1.8
Non-Taxable				(0.7	)			0.3				(0.4	)
Held-to-Maturity
Taxable				(0.7	)			(0.2	)			(0.9	)
Non-Taxable				(0.1	)			-				(0.1	)
Total Investment Securities				(1.1	)			1.5				0.4
Loans Held for Sale				0.3				-				0.3
Loans and Leases
Commercial and Industrial				1.8				(0.9	)			0.9
Commercial Mortgage				4.2				(0.4	)			3.8
Construction				1.3				0.1				1.4
Commercial Lease Financing				0.1				(0.3	)			(0.2	)
Residential Mortgage				5.5				(3.1	)			2.4
Home Equity				4.7				(0.3	)			4.4
Automobile				1.7				(0.3	)			1.4
Other 2				1.1				0.5				1.6
Total Loans and Leases				20.4				(4.7	)			15.7
Other				-				-				-
Total Change in Interest Income				19.2				(2.6	)			16.6
Change in Interest Expense:
Interest-Bearing Deposits
Demand				-				0.3				0.3
Savings				0.1				0.5				0.6
Time				0.6				1.2				1.8
Total Interest-Bearing Deposits				0.7				2.0				2.7
Short-Term Borrowings				-				0.1				0.1
Securities Sold Under Agreements to Repurchase				(1.9	)			(0.2	)			(2.1	)
Other Debt				0.3				(0.1	)			0.2
Total Change in Interest Expense				(0.9	)			1.8				0.9
Change in Net Interest Income			$	20.1			$	(4.4	)		$	15.7

1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

2 Comprised of other consumer revolving credit, installment, and consumer lease financing.

Bank of Hawaii Corporation and Subsidiaries
Salaries and Benefits																Table 9
			Three Months Ended										Six Months Ended
			June 30,			March 31,			June 30,				June 30,
(dollars in thousands)			2017			2017			2016				2017			2016
Salaries			$	30,553		$	29,425		$	28,797			$	59,978		$	57,938
Incentive Compensation				5,125			5,774			5,917				10,899			11,882
Share-Based Compensation				2,879			2,303			2,746				5,182			5,056
Commission Expense				1,791			1,836			2,151				3,627			3,508
Retirement and Other Benefits				4,159			5,041			4,092				9,200			9,046
Payroll Taxes				2,427			3,944			2,288				6,371			5,865
Medical, Dental, and Life Insurance				3,136			3,279			3,872				6,415			6,764
Separation Expense				43			-			426				43			744
Total Salaries and Benefits			$	50,113		$	51,602		$	50,289			$	101,715		$	100,803

Bank of Hawaii Corporation and Subsidiaries
Loan and Lease Portfolio Balances															Table 10
			June 30,			March 31,			December 31,			September 30,			June 30,
(dollars in thousands)			2017			2017			2016			2016			2016
Commercial
Commercial and Industrial			$	1,241,953		$	1,250,006		$	1,249,791		$	1,217,849		$	1,174,879
Commercial Mortgage				2,009,886			1,909,064			1,889,551			1,807,190			1,712,271
Construction				248,030			262,660			270,018			263,079			226,062
Lease Financing				205,043			208,765			208,332			201,436			192,630
Total Commercial				3,704,912			3,630,495			3,617,692			3,489,554			3,305,842
Consumer
Residential Mortgage				3,317,179			3,224,206			3,163,073			3,098,936			3,032,981
Home Equity				1,473,123			1,411,489			1,334,163			1,295,993			1,213,154
Automobile				484,092			468,078			454,333			437,659			417,017
Other 1				408,307			379,541			380,524			371,955			362,475
Total Consumer				5,682,701			5,483,314			5,332,093			5,204,543			5,025,627
Total Loans and Leases			$	9,387,613		$	9,113,809		$	8,949,785		$	8,694,097		$	8,331,469
Deposits
			June 30,			March 31,			December 31,			September 30,			June 30,
(dollars in thousands)			2017			2017			2016			2016			2016
Consumer			$	7,278,536		$	7,196,781		$	6,997,482		$	6,781,371		$	6,618,164
Commercial				5,903,639			6,051,721			6,110,189			5,751,184			5,697,490
Public and Other				1,602,474			1,228,031			1,212,569			1,275,810			1,328,153
Total Deposits			$	14,784,649		$	14,476,533		$	14,320,240		$	13,808,365		$	13,643,807

1 Comprised of other revolving credit, installment, and lease financing.

Bank of Hawaii Corporation and Subsidiaries
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More																			Table 11
			June 30,				March 31,				December 31,				September 30,				June 30,
(dollars in thousands)			2017				2017				2016				2016				2016
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial
Commercial and Industrial			$	175			$	228			$	151			$	201			$	269
Commercial Mortgage				1,460				973				997				1,023				1,194
Total Commercial				1,635				1,201				1,148				1,224				1,463
Consumer
Residential Mortgage				9,337				11,756				13,780				12,735				9,979
Home Equity				3,405				3,517				3,147				2,966				3,110
Total Consumer				12,742				15,273				16,927				15,701				13,089
Total Non-Accrual Loans and Leases				14,377				16,474				18,075				16,925				14,552
Foreclosed Real Estate				1,991				2,529				1,686				1,747				1,728
Total Non-Performing Assets			$	16,368			$	19,003			$	19,761			$	18,672			$	16,280
Accruing Loans and Leases Past Due 90 Days or More
Consumer
Residential Mortgage			$	2,269			$	2,313			$	3,127			$	2,583			$	5,640
Home Equity				2,343				1,133				1,457				1,210				1,128
Automobile				539				673				894				578				464
Other 1				1,859				1,738				1,592				1,273				1,518
Total Consumer				7,010				5,857				7,070				5,644				8,750
Total Accruing Loans and Leases Past Due 90 Days or More			$	7,010			$	5,857			$	7,070			$	5,644			$	8,750
Restructured Loans on Accrual Status and Not Past Due 90 Days or More			$	53,158			$	52,965			$	52,208			$	52,095			$	52,173
Total Loans and Leases			$	9,387,613			$	9,113,809			$	8,949,785			$	8,694,097			$	8,331,469
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases				0.15	%			0.18	%			0.20	%			0.19	%			0.17	%
Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate				0.17	%			0.21	%			0.22	%			0.21	%			0.20	%
Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate				0.04	%			0.03	%			0.03	%			0.04	%			0.04	%
Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate				0.26	%			0.32	%			0.35	%			0.34	%			0.29	%
Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate				0.25	%			0.27	%			0.30	%			0.28	%			0.30	%
Quarter to Quarter Changes in Non-Performing Assets
Balance at Beginning of Quarter			$	19,003			$	19,761			$	18,672			$	16,280			$	22,015
Additions				1,572				1,221				2,142				3,730				1,300
Reductions
Payments				(497	)			(1,017	)			(252	)			(501	)			(3,401	)
Return to Accrual Status				(1,370	)			(645	)			(653	)			(701	)			(3,560	)
Sales of Foreclosed Real Estate				(1,883	)			-				(61	)			-				-
Charge-offs/Write-downs				(457	)			(317	)			(87	)			(136	)			(74	)
Total Reductions				(4,207	)			(1,979	)			(1,053	)			(1,338	)			(7,035	)
Balance at End of Quarter			$	16,368			$	19,003			$	19,761			$	18,672			$	16,280

1 Comprised of other revolving credit, installment, and lease financing.

Bank of Hawaii Corporation and Subsidiaries
Reserve for Credit Losses																				Table 12
			Three Months Ended													Six Months Ended
			June 30,				March 31,				June 30,					June 30,
(dollars in thousands)			2017				2017				2016					2017				2016
Balance at Beginning of Period			$	111,636			$	110,845			$	111,249				$	110,845				108,952
Loans and Leases Charged-Off
Commercial
Commercial and Industrial				(124	)			(174	)			(204	)				(298	)			(461	)
Consumer
Residential Mortgage				(506	)			(183	)			(79	)				(689	)			(284	)
Home Equity				(282	)			(363	)			17					(645	)			(626	)
Automobile				(1,512	)			(2,290	)			(1,372	)				(3,802	)			(2,932	)
Other 1				(3,063	)			(2,694	)			(2,117	)				(5,757	)			(4,339	)
Total Loans and Leases Charged-Off				(5,487	)			(5,704	)			(3,755	)				(11,191	)			(8,642	)
Recoveries on Loans and Leases Previously Charged-Off
Commercial
Commercial and Industrial				265				336			$	403					601				7,270
Commercial Mortgage				-				-				14					-				28
Construction				-				-				-					-				23
Lease Financing				1				-				1					1				2
Consumer
Residential Mortgage				264				104				279					368				480
Home Equity				838				508				322					1,346				835
Automobile				607				620				541					1,227				1,133
Other 1				551				527				450					1,078				923
Total Recoveries on Loans and Leases Previously Charged-Off				2,526				2,095				2,010					4,621				10,694
Net Loans and Leases Recovered (Charged-Off)				(2,961	)			(3,609	)			(1,745	)				(6,570	)			2,052
Provision for Credit Losses				4,250				4,400				1,000					8,650				(1,000	)
Provision for Unfunded Commitments				250				-				-					250				500
Balance at End of Period 2			$	113,175			$	111,636			$	110,504				$	113,175			$	110,504
Components
Allowance for Loan and Lease Losses			$	106,353			$	105,064				103,932				$	106,353				103,932
Reserve for Unfunded Commitments				6,822				6,572				6,572					6,822				6,572
Total Reserve for Credit Losses			$	113,175			$	111,636			$	110,504				$	113,175			$	110,504
Average Loans and Leases Outstanding			$	9,217,779			$	9,020,351			$	8,205,104				$	9,119,610			$	8,072,600
Ratio of Net Loans and Leases Charged-Off (Recovered) to Average Loans and Leases Outstanding (annualized)				0.13	%			0.16	%			0.09	%				0.15	%			-0.05	%
Ratio of Allowance for Loan and Lease Losses to Loans and Leases Outstanding				1.13	%			1.15	%			1.25	%				1.13	%			1.25	%

1 Comprised of other revolving credit, installment, and lease financing.

2 Included in this analysis is activity related to the Company's reserve for unfunded commitments, which is separately recorded in other liabilities in the Consolidated Statements of Condition.

Bank of Hawaii Corporation and Subsidiaries
Business Segments Selected Financial Information																			Table 13a
			Retail				Commercial				Investment				Treasury				Consolidated
(dollars in thousands)			Banking				Banking				Services				and Other				Total
Three Months Ended June 30, 2017
Net Interest Income			$	66,348			$	41,737			$	6,714			$	(2,520	)		$	112,279
Provision for Credit Losses				3,099				(132	)			(6	)			1,289				4,250
Net Interest Income After Provision for Credit Losses				63,249				41,869				6,720				(3,809	)			108,029
Noninterest Income				21,920				5,876				15,247				2,193				45,236
Noninterest Expense				(52,018	)			(18,407	)			(15,295	)			(2,469	)			(88,189	)
Income Before Provision for Income Taxes				33,151				29,338				6,672				(4,085	)			65,076
Provision for Income Taxes				(11,741	)			(10,325	)			(2,469	)			4,121				(20,414	)
Net Income			$	21,410			$	19,013			$	4,203			$	36			$	44,662
Total Assets as of June 30, 2017			$	5,626,767			$	3,658,867			$	307,529			$	7,388,129			$	16,981,292
Three Months Ended June 30, 2016 1
Net Interest Income			$	60,041			$	38,151			$	6,037			$	(679	)		$	103,550
Provision for Credit Losses				2,006				(258	)			(5	)			(743	)			1,000
Net Interest Income After Provision for Credit Losses				58,035				38,409				6,042				64				102,550
Noninterest Income				21,771				6,438				15,946				2,364				46,519
Noninterest Expense				(50,758	)			(17,762	)			(14,780	)			(2,771	)			(86,071	)
Income Before Provision for Income Taxes				29,048				27,085				7,208				(343	)			62,998
Provision for Income Taxes				(10,402	)			(9,608	)			(2,667	)			3,924				(18,753	)
Net Income			$	18,646			$	17,477			$	4,541			$	3,581			$	44,245
Total Assets as of June 30, 2016 1			$	5,076,204			$	3,239,572			$	282,143			$	7,262,982			$	15,860,901

1 Certain prior period information has been reclassified to conform to current presentation.

Bank of Hawaii Corporation and Subsidiaries
Business Segments Selected Financial Information																			Table 13b
			Retail				Commercial				Investment				Treasury				Consolidated
(dollars in thousands)			Banking				Banking				Services				and Other				Total
Six Months Ended June 30, 2017
Net Interest Income			$	131,505			$	83,668			$	13,364			$	(6,386	)		$	222,151
Provision for Credit Losses				6,900				(320	)			(11	)			2,081				8,650
Net Interest Income After Provision for Credit Losses				124,605				83,988				13,375				(8,467	)			213,501
Noninterest Income				42,845				11,314				29,796				17,197				101,152
Noninterest Expense				(104,278	)			(36,762	)			(30,766	)			(4,951	)			(176,757	)
Income Before Provision for Income Taxes				63,172				58,540				12,405				3,779				137,896
Provision for Income Taxes				(22,415	)			(20,581	)			(4,590	)			5,528				(42,058	)
Net Income			$	40,757			$	37,959			$	7,815			$	9,307			$	95,838
Total Assets as of June 30, 2017			$	5,626,767			$	3,658,867			$	307,529			$	7,388,129			$	16,981,292
Six Months Ended June 30, 2016 1
Net Interest Income			$	118,051			$	76,499			$	12,489			$	(465	)		$	206,574
Provision for Credit Losses				4,842				(6,883	)			(11	)			1,052				(1,000	)
Net Interest Income After Provision for Credit Losses				113,209				83,382				12,500				(1,517	)			207,574
Noninterest Income				42,577				14,038				29,971				16,140				102,726
Noninterest Expense				(103,498	)			(35,029	)			(30,207	)			(4,723	)			(173,457	)
Income Before Provision for Income Taxes				52,288				62,391				12,264				9,900				136,843
Provision for Income Taxes				(18,629	)			(22,264	)			(4,537	)			3,042				(42,388	)
Net Income			$	33,659			$	40,127			$	7,727			$	12,942			$	94,455
Total Assets as of June 30, 2016 1			$	5,076,204			$	3,239,572			$	282,143			$	7,262,982			$	15,860,901

1 Certain prior period information has been reclassified to conform to current presentation.

Bank of Hawaii Corporation and Subsidiaries
Selected Quarterly Financial Data																					Table 14
			Three Months Ended
			June 30,					March 31,					December 31,					September 30,					June 30,
(dollars in thousands, except per share amounts)			2017					2017					2016					2016					2016
Quarterly Operating Results
Interest Income
Interest and Fees on Loans and Leases			$	90,909				$	87,937				$	86,532				$	83,489				$	82,323
Income on Investment Securities
Available-for-Sale				11,835					11,084					10,244					10,313					10,521
Held-to-Maturity				19,918					19,706					19,213					19,315					20,168
Deposits				2					5					2					1					2
Funds Sold				696					890					795					695					618
Other				208					230					281					166					153
Total Interest Income				123,568					119,852					117,067					113,979					113,785
Interest Expense
Deposits				4,998					3,691					3,448					3,232					3,081
Securities Sold Under Agreements to Repurchase				5,079					5,185					5,406					5,713					6,134
Funds Purchased				39					3					3					3					3
Short-Term Borrowings				64					-					-					-					-
Other Debt				1,109					1,101					1,117					1,119					1,017
Total Interest Expense				11,289					9,980					9,974					10,067					10,235
Net Interest Income				112,279					109,872					107,093					103,912					103,550
Provision for Credit Losses				4,250					4,400					3,250					2,500					1,000
Net Interest Income After Provision for Credit Losses				108,029					105,472					103,843					101,412					102,550
Noninterest Income
Trust and Asset Management				11,796					11,479					11,232					11,008					12,707
Mortgage Banking				3,819					3,300					6,256					6,362					4,088
Service Charges on Deposit Accounts				8,009					8,325					8,537					8,524					8,150
Fees, Exchange, and Other Service Charges				13,965					13,332					13,731					14,023					13,978
Investment Securities Gains (Losses), Net				(520	)				12,133					(337	)				(328	)				(312	)
Annuity and Insurance				2,161					1,995					1,457					1,653					2,006
Bank-Owned Life Insurance				1,550					1,497					1,551					1,911					1,551
Other				4,456					3,855					4,076					4,961					4,351
Total Noninterest Income				45,236					55,916					46,503					48,114					46,519
Noninterest Expense
Salaries and Benefits				50,113					51,602					50,622					49,725					50,289
Net Occupancy				8,131					8,168					7,581					8,510					7,158
Net Equipment				5,706					5,501					5,191					4,913					5,065
Data Processing				3,881					3,410					3,665					3,620					3,972
Professional Fees				2,592					2,779					2,990					2,396					2,047
FDIC Insurance				2,097					2,209					2,015					2,104					2,144
Other				15,669					14,899					17,525					16,264					15,396
Total Noninterest Expense				88,189					88,568					89,589					87,532					86,071
Income Before Provision for Income Taxes				65,076					72,820					60,757					61,994					62,998
Provision for Income Taxes				20,414					21,644					17,244					18,501					18,753
Net Income			$	44,662				$	51,176				$	43,513				$	43,493				$	44,245
Basic Earnings Per Share			$	1.05				$	1.21				$	1.03				$	1.02				$	1.04
Diluted Earnings Per Share			$	1.05				$	1.20				$	1.02				$	1.02				$	1.03
Balance Sheet Totals
Loans and Leases			$	9,387,613				$	9,113,809				$	8,949,785				$	8,694,097				$	8,331,469
Total Assets				16,981,292					16,664,215					16,492,367					16,014,643					15,860,901
Total Deposits				14,784,649					14,476,533					14,320,240					13,808,365					13,643,807
Total Shareholders' Equity				1,213,757					1,193,137					1,161,537					1,163,859					1,157,219
Performance Ratios
Return on Average Assets				1.09		%			1.26		%			1.07		%			1.09		%			1.14		%
Return on Average Shareholders' Equity				14.87					17.63					14.90					14.89					15.56
Efficiency Ratio 1				55.99					53.42					58.33					57.58					57.35
Net Interest Margin 2				2.92					2.89					2.83					2.80					2.85

1 Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income).

2 Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

Bank of Hawaii Corporation and Subsidiaries
Hawaii Economic Trends																										Table 15
			Five Months Ended									Year Ended
($ in millions; jobs in thousands)			May 31, 2017									December 31, 2016									December 31, 2015
Hawaii Economic Trends
State General Fund Revenues 1			$		2,673.5			2.8		%		$	6,215.4				3.6		%		$	5,998.6				8.4		%
General Excise and Use Tax Revenue 1			$		1,384.2			2.4		%		$	3,205.7				2.0		%		$	3,141.5				5.4		%
Jobs 2					673.1								671.7									658.8
																	June 30,				December 31,
(spot rates)																	2017				2016					2015
Unemployment 3
Statewide, seasonally adjusted																	2.7		%			2.9		%		3.2		%
Oahu																	3.1					2.4				2.7
Island of Hawaii																	4.0					3.1				3.7
Maui																	3.4					2.7				3.1
Kauai																	3.2					2.8				3.5
												June 30,					December 31,
(percentage change, except months of inventory)												2017					2016				2015					2014
Housing Trends (Single Family Oahu) 4
Median Home Price													3.2		%		5.0		%			3.7		%		3.8		%
Home Sales Volume (units)													4.4		%		6.5		%			5.2		%		(0.8	)	%
Months of Inventory													2.7				2.5					2.6				2.6
												Monthly Visitor Arrivals,									Percentage Change
(in thousands)												Not Seasonally Adjusted									from Previous Year
Tourism 5
May 31, 2017																	751.2									4.5
April 30, 2017																	753.0									7.5
March 31, 2017																	802.8									2.1
February 28, 2017																	700.4									1.7
January 31, 2017																	756.3									4.9
December 31, 2016																	828.5									3.6
November 30, 2016																	696.9									4.7
October 31, 2016																	717.5									4.3
September 30, 2016																	666.6									3.0
August 31, 2016																	780.7									3.1
July 31, 2016																	835.4									2.1
June 30, 2016																	800.3									4.2
May 31, 2016																	718.9									1.3
April 30, 2016																	700.6									3.4
March 31, 2016																	786.3									0.8
February 29, 2016																	688.8									4.1
January 31, 2016																	721.0									6.2
December 31, 2015																	799.5									4.4
November 30, 2015																	665.9									4.4
October 31, 2015																	687.7									4.0
September 30, 2015																	647.2									3.9
August 31, 2015																	757.5									3.1
July 31, 2015																	818.5									5.9
June 30, 2015																	767.9									6.0
May 31, 2015																	709.7									9.3
April 30, 2015																	677.8									2.3
March 31, 2015																	780.1									7.0
February 28, 2015																	661.7									2.3
January 31, 2015																	678.9									(0.6	)

1 Source: Hawaii Department of Business, Economic Development & Tourism

2 Source: U. S. Bureau of Labor

3 Source: Hawaii Department of Labor and Industrial Relations, County jobs data not seasonally adjusted.

4 Source: Honolulu Board of REALTORS

5 Source: Hawaii Tourism Authority

Note: Certain prior period seasonally adjusted information has been revised.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170724005269/en/

Source: Bank of Hawaii Corporation

Bank of Hawaii Corporation
Media Inquiries
Stafford Kiguchi, 808-694-8580
Mobile: 808-265-6367
Stafford.Kiguchi@boh.com
or
Investor/Analyst Inquiries
Cindy Wyrick, 808-694-8430
Cindy.Wyrick@boh.com