UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 
FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 	 	 	 	 	
 	Date of Report	 	 	
 	(Date of earliest event reported)	 	                             July 22, 2013	 	
 
BANK OF HAWAII CORPORATION
(Exact name of registrant as specified in its charter)

 	 	 	 	 	
Delaware	 	1-6887	 	99-0148992	
(State of Incorporation)	 	(Commission	 	(IRS Employer	
 	 	File Number)	 	Identification No.)	

 	 	 	
130 Merchant Street, Honolulu, Hawaii	 	96813	
(Address of principal executive offices)	 	(Zip Code)	

 	 	 	 	
(Registrant's telephone number,	 	 	
including area code)	 	 	(888) 643-3888	

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 2.02.                                       Results of Operations and Financial Condition.
 
On July 22, 2013, Bank of Hawaii Corporation announced its results of operations for the quarter ended June 30, 2013.  The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01.                                       Financial Statements and Exhibits.

(d)	Exhibits	
 
Exhibit No.
 
99.1            July 22, 2013 Press Release: Bank of Hawaii Corporation Second Quarter 2013 Financial Results.  Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks.  Furnished herewith.

Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	
 	 	 	
Date: July 22, 2013	Bank of Hawaii Corporation	

 	By:	/s/ Mark A. Rossi	
 	 	     Mark A. Rossi	
 	 	     Vice Chairman and Corporate Secretary	

Exhibit 99.1

 	

Bank of Hawaii Corporation Second Quarter 2013 Financial Results

•Diluted Earnings Per Share $0.85
•Net Income $37.8 Million
•Board of Directors Declares Dividend of $0.45 Per Share

FOR IMMEDIATE RELEASE

HONOLULU, HI (July 22, 2013) -- Bank of Hawaii Corporation (NYSE: BOH) today reported diluted earnings per share of $0.85 for the second quarter of 2013, up from $0.81 in the previous quarter, and down from $0.90 in the same quarter last year. Net income for the second quarter of 2013 was $37.8 million, an increase of $1.8 million or 5.0 percent compared with net income of $36.0 million in the first quarter of 2013, and down $3.0 million or 7.3 percent from net income of $40.7 million in the second quarter of 2012.

“Bank of Hawaii Corporation continued its trend of solid performance in the second quarter of 2013,” said Peter Ho, Chairman, President and CEO.  “Overall loan balances grew 3% from the same quarter last year as strong commercial, indirect automobile and certain other consumer loan growth was partially offset by refinance sensitive loan categories namely residential mortgage and home equity loans.  The organization continues to attract quality deposits with consumer and commercial deposit balances up 4% in the quarter from last year.  Asset quality continued its trend of improvement in the quarter with lower levels of non-performing assets and a lower ratio of net charge offs to loans.  Expenses remained controlled.  The recent trend in higher interest rates should positively impact our operating earnings over time through improved net interest margin.  We would note, however, that nearer term, we will likely see a meaningful slowing in our mortgage banking business as the refinance market potentially slows and the purchase market remains impacted by exceptionally tight housing inventory.”
 
The return on average assets for the second quarter of 2013 was 1.12 percent, up from 1.08 percent in the previous quarter, and down from 1.19 percent during the same quarter last year. The return on average equity for the second quarter of 2013 was 14.64 percent compared with 14.10 percent for the first quarter of 2013 and 16.19 percent in the second quarter of 2012.

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Bank of Hawaii Corporation Second Quarter 2013 Financial Results             Page 2

For the six-month period ended June 30, 2013, net income was $73.7 million, down from net income of $84.6 million for the same period last year. Diluted earnings per share were $1.65 for the first half of 2013, down from diluted earnings per share of $1.85 for the first half of 2012. The year-to-date return on average assets was 1.10 percent, down from 1.24 percent for the same six months in 2012. The year-to-date return on average equity was 14.37 percent, down from 16.73 percent for the six months ended June 30, 2012.

Financial Highlights

Net interest income, on a taxable equivalent basis, for the second quarter of 2013 was $89.8 million, down $1.2 million from net interest income of $91.0 million in the first quarter of 2013 and down $8.1 million from net interest income of $97.9 million in the second quarter of 2012. Net interest income for the first half of 2013 was $180.8 million compared with net interest income of $197.9 million for the first half of 2012. Analyses of the changes in net interest income are included in Tables 8a, 8b, and 8c.

The net interest margin was 2.77 percent for the second quarter of 2013, a 5 basis point decrease from the net interest margin of 2.82 percent in the first quarter of 2013 and a 21 basis point decrease from the net interest margin of 2.98 percent in the second quarter of 2012. The net interest margin for the first six months of 2013 was 2.80 percent compared with 3.02 percent for the same six-month period last year. The decrease in the net interest margin was primarily due to increased levels of liquidity and lower yields on loans and investment securities.

The Company did not record a provision for credit losses during the first or second quarters of 2013. Net loans and leases charged-off were $2.3 million in the second quarter of 2013 and $2.0 million in the first quarter of 2013. The provision for credit losses during the second quarter of 2012 was $0.6 million, or $3.2 million less than net charge-offs.

Noninterest income was $48.0 million in the second quarter of 2013, an increase of $0.3 million compared with noninterest income of $47.8 million in the first quarter of 2013, and an increase of $1.2 million compared with noninterest income of $46.8 million in the second quarter of 2012. Noninterest income included mortgage banking revenue of $5.8 million in the second quarter of 2013 compared with $6.4 million in the previous quarter and $7.6 million in the same quarter last year. Noninterest income for the first half of 2013 was $95.8 million, an increase of $0.9 million compared with noninterest income of $94.9 million for the first half of 2012.

Noninterest expense was $81.2 million in the second quarter of 2013, down $3.2 million compared with $84.4 million in the first quarter of 2013, and up $0.4 million compared with $80.7 million in the second quarter last year. Noninterest expense in the first quarter of 2013 included seasonal payroll-related expenses of approximately $3.0 million and separation expense of $1.5 million. Separation expenses were $0.9 million in the second quarter of 2013 and $0.4 million in the same quarter last year. An analysis of noninterest expenses related to salaries and benefits is included in Table 9. Noninterest expense for the first half of 2013 was $165.6 million, a decrease of $0.4 million compared with noninterest expense of $166.0 million for the first half of 2012.

The efficiency ratio for the second quarter of 2013 was 59.96 percent, down from 61.90 percent in the previous quarter and up from 56.77 percent in the same quarter last year. The efficiency ratio for the first half of 2013 was 60.93 percent compared with 57.57 percent in the same period last year.
    
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Bank of Hawaii Corporation Second Quarter 2013 Financial Results         Page 3

The effective tax rate for the second quarter of 2013 was 30.33 percent compared with 30.74 percent in the previous quarter and 33.04 percent during the same quarter last year. The lower effective tax rates during 2013 are due to the release of tax reserves and low-income housing and other tax credits.

The Company's business segments are defined as Retail Banking, Commercial Banking, Investment Services, and Treasury & Other. 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 overall asset quality remained strong during the second quarter of 2013. Total non-performing assets were $36.4 million at June 30, 2013, down from $38.4 million at March 31, 2013 and down from $41.5 million at June 30, 2012. Non-performing assets remain above historical levels due to the lengthy judicial foreclosure process for residential mortgage loans. As a percentage of total loans and leases and foreclosed real estate, non-performing assets were 0.62 percent at June 30, 2013, down from 0.66 percent at March 31, 2013 and down from 0.73 percent at June 30, 2012.
Accruing loans and leases past due 90 days or more were $10.6 million at June 30, 2013, down from $11.7 million at March 31, 2013 and up from $7.2 million at June 30, 2012. The increase in consumer delinquencies compared with the prior year was largely due to residential mortgage loans and home equity loans, primarily on neighbor island properties. Restructured loans and leases not included in non-accrual loans or accruing loans that are past due 90 days or more were $39.2 million at June 30, 2013 and primarily comprised of residential mortgage loans with lowered monthly payments to accommodate the borrowers' financial needs for a period of time. More information on non-performing assets and accruing loans and leases past due 90 days or more is presented in Table 11.
Net loans and leases charged off during the second quarter of 2013 were $2.3 million or 0.16 percent annualized of total average loans and leases outstanding. Loan and lease charge-offs of $4.7 million during the quarter were partially offset by recoveries of $2.4 million. Net charge-offs during the first quarter of 2013 were $2.0 million, or 0.14 percent annualized of total average loans and leases outstanding, and were comprised of $5.3 million in charge-offs partially offset by recoveries of $3.3 million. Net charge-offs in the second quarter of 2012 were $3.8 million or 0.27 percent annualized of total average loans and leases outstanding, and were comprised of $5.9 million in charge-offs partially offset by recoveries of $2.1 million. Net charge-offs in the first half of 2013 were $4.3 million, or 0.15 percent annualized of total average loans and leases outstanding compared with net charge-offs of $7.1 million, or 0.26 percent annualized of total average loans and leases outstanding for the first half of 2012.

The allowance for loan and lease losses was reduced to $124.6 million at June 30, 2013. The ratio of the allowance for loan and lease losses to total loans and leases was 2.13 percent at June 30, 2013, a decrease of 6 basis points from the previous quarter and commensurate with improvements in credit quality and the Hawaii economy. The reserve for unfunded commitments at June 30, 2013 was $5.9 million, an increase of $0.5 million or 9% from the balance at March 31, 2013 and June 30, 2012. The increase in the reserve for unfunded commitments was primarily due to growth in commercial commitments. Details of loan and lease charge-offs, recoveries, and the components of the total reserve for credit losses are summarized in Table 12.

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Bank of Hawaii Corporation Second Quarter 2013 Financial Results         Page 4

Other Financial Highlights

Total assets were $13.73 billion at June 30, 2013, up from total assets of $13.53 billion at March 31, 2013 and down from total assets of $13.92 billion at June 30, 2012. Average total assets were $13.57 billion during the second quarter of 2013, up from $13.56 billion during the previous quarter and down from $13.75 billion during the same quarter last year.

The total investment securities portfolio totaled $6.84 billion at June 30, 2013, down from $6.89 billion at March 31, 2013 and $7.07 billion at June 30, 2012. The portfolio remains largely comprised of securities issued by U.S. government agencies. 

Total loans and leases were $5.86 billion at June 30, 2013, up from $5.78 billion at March 31, 2013 and $5.67 billion at June 30, 2012. The commercial loan portfolio was $2.40 billion at the end of the second quarter of 2013, up from commercial loans of $2.33 billion at the end of the first quarter of 2013 and $2.12 billion at the end of the same quarter last year. Consumer loans were $3.46 billion at the end of the second quarter of 2013, up slightly from the end of the first quarter of 2013, and down from $3.55 billion at the end of the second quarter of 2012 due to a decline in the residential mortgage and home equity loan portfolios that offset growth in other consumer lending. Average total loans and leases were $5.78 billion during the second quarter of 2013, down from $5.80 billion during the first quarter of 2013 and up from average total loans and leases of $5.64 billion during the same quarter last year. Loan and lease portfolio balances, including the higher risk loans and leases outstanding, are summarized in Table 10.

Total deposits were $11.45 billion at June 30, 2013, up from $11.25 billion at March 31, 2013 due to growth in nearly all deposit categories. Total deposits were down from $11.55 billion at June 30, 2012 primarily due to a reduction in public deposits. Average total deposits were $11.24 billion in the second quarter of 2013, down from average deposits of $11.29 billion during the previous quarter, and up from average deposits of $10.62 billion during the same quarter last year.

During the second quarter of 2013, the Company repurchased 304.6 thousand shares of common stock at a total cost of $15.0 million under its share repurchase program. The average cost was $49.22 per share repurchased. From the beginning of the share repurchase program initiated during July 2001 through June 30, 2013, the Company has repurchased 50.7 million shares and returned over $1.8 billion to shareholders at an average cost of $36.44 per share. Remaining buyback authority under the share repurchase program was $47.9 million at June 30, 2013. From July 1 through July 19, 2013, the Company has repurchased an additional 70.0 thousand shares of common stock at an average cost of $53.51 per share.

Total shareholders' equity was $0.99 billion at June 30, 2013, compared with $1.03 billion at March 31, 2013 and $1.0 billion at June 30, 2012. The ratio of tangible common equity to risk-weighted assets was 15.65 percent at the end of the second quarter of 2013, compared with 17.04 percent at the end of the first quarter of 2013, and 17.57 percent at the end of the same quarter last year. The Tier 1 leverage ratio at June 30, 2013 was 6.95 percent, up from 6.90 percent at March 31, 2013 and 6.57 percent at June 30, 2012.

The Company's Board of Directors declared a quarterly cash dividend of $0.45 per share on the Company's outstanding shares. The dividend will be payable on September 16, 2013 to shareholders of record at the close of business on August 30, 2013.

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Bank of Hawaii Corporation Second Quarter 2013 Financial Results         Page 5

Hawaii Economy

Hawaii's economy continued to improve during the second quarter of 2013 led by tourism, the State's largest industry. For the first five months of 2013, total visitor arrivals increased by 5.7% and visitor spending increased by 5.1% compared to the same period in 2012. The statewide seasonally-adjusted unemployment rate was 4.6% in June 2013, compared to 5.1 percent at year-end and 7.6% nationally. For the first six months of 2013, the volume of single-family home sales on Oahu was 11.6% higher compared to the same period in 2012 and the volume of condominium sales on Oahu was 18.8% higher compared to the same period in 2012. As of June 30, 2013 Oahu single-family home inventory was 2.7 months compared to 3.9 months at June 30, 2012. Oahu condominium inventory was 2.7 months at June 30, 2013 compared to 4.2 months last year. Oahu median single-family home prices increased 9.2 percent in June compared to last year and 0.8 percent year-to-date. Oahu median condominium home prices increased 11.1 percent in June compared to last year and 6.8 percent year-to-date. More information on current Hawaii economic trends is presented in Table 15.

Conference Call Information

The Company will review its second quarter 2013 financial results today at 8:00 a.m. Hawaii Time. The conference call will be accessible via teleconference and via the Investor Relations link of Bank of Hawaii Corporation's web site,  www.boh.com . Conference call participants located in the United States should dial (866) 788-0542. International participants should dial (857) 350-1680. Use the pass code “Bank of Hawaii” to access the call. A replay will be available for one week beginning Monday, July 22, 2013 by calling (888) 286-8010 in the United States or (617) 801-6888 internationally and entering the pass code number 45894681 when prompted. A replay will also be available via the Investor Relations link on the Company's web site.

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, 2012, 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 and is the largest independent financial institution in Hawaii. 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 1a	
 	       Three Months Ended	 	       Six Months Ended	 	
 	June 30,	 	 	March 31,	 	 	June 30,	
 	 	June 30,	 	
(dollars in thousands, except per share amounts)	2013	 	 	2013	 	 	2012	
 	 	2013	 	 	2012	 	 	
For the Period:	 	 	 	 	 	 	 	 	 	 	
Operating Results	 	 	 	 	 	 	 	 	 	 	
Net Interest Income	$	87,340	 	 	$	88,560	 	 	$	95,381	
 	 	$	175,900	 	 	$	193,329	 	 	
Provision for Credit Losses	—	 	 	—	 	 	628	
 	 	—	 	 	979	 	 	
Total Noninterest Income	48,041	 	 	47,778	 	 	46,848	
 	 	95,819	 	 	94,930	 	 	
Total Noninterest Expense	81,181	 	 	84,387	 	 	80,747	
 	 	165,568	 	 	165,954	 	 	
Net Income	37,763	 	 	35,980	 	 	40,747	
 	 	73,743	 	 	84,557	 	 	
Basic Earnings Per Share	0.85	 	 	0.81	 	 	0.90	
 	 	1.66	 	 	1.86	 	 	
Diluted Earnings Per Share	0.85	 	 	0.81	 	 	0.90	
 	 	1.65	 	 	1.85	 	 	
Dividends Declared Per Share	0.45	 	 	0.45	 	 	0.45	
 	 	0.90	 	 	0.90	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Performance Ratios	 	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.12	 	%	1.08	 	%	1.19	
 	%	1.10	 	%	1.24	 	%	
Return on Average Shareholders' Equity	14.64	 	 	14.10	 	 	16.19	
 	 	14.37	 	 	16.73	 	 	
Efficiency Ratio 1	59.96	 	 	61.90	 	 	56.77	
 	 	60.93	 	 	57.57	 	 	
Net Interest Margin 2	2.77	 	 	2.82	 	 	2.98	
 	 	2.80	 	 	3.02	 	 	
Dividend Payout Ratio 3	52.94	 	 	55.56	 	 	50.00	
 	 	54.22	 	 	48.39	 	 	
Average Shareholders' Equity to Average Assets	7.62	 	 	7.63	 	 	7.36	
 	 	7.63	 	 	7.41	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Average Balances	 	 	 	 	 	 	 	 	 	 	
Average Loans and Leases	$	5,781,898	 	 	$	5,803,503	 	 	$	5,641,588	
 	 	$	5,792,641	 	 	$	5,602,473	 	 	
Average Assets	13,572,329	 	 	13,557,358	 	 	13,750,488	
 	 	13,564,885	 	 	13,715,859	 	 	
Average Deposits	11,244,600	 	 	11,287,485	 	 	10,622,420	
 	 	11,265,924	 	 	10,526,317	 	 	
Average Shareholders' Equity	1,034,366	 	 	1,034,843	 	 	1,012,182	
 	 	1,034,603	 	 	1,016,425	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Per Share of Common Stock	 	 	 	 	 	 	 	 	 	 	
Book Value	$	22.09	 	 	$	22.87	 	 	$	22.18	
 	 	$	22.09	 	 	$	22.18	 	 	
Market Value	 	 	 	 	 	 	 	 	 	 	
   Closing	50.32	 	 	50.81	 	 	45.95	
 	 	50.32	 	 	45.95	 	 	
   High	52.17	 	 	50.91	 	 	49.99	
 	 	52.17	 	 	49.99	 	 	
   Low	46.04	 	 	44.88	 	 	44.02	
 	 	44.88	 	 	44.02	 	 	
 	 	 	 	 	 	 	 	 	 	 	
 	 	 	June 30,	 	 	March 31,	
 	 	December 31,	 	 	June 30,	 	 	
 	 	 	2013	 	 	2013	
 	 	2012	 	 	2012	 	 	
As of Period End:	 	 	 	 	 	 	 	 	 	 	
Balance Sheet Totals	 	 	 	 	 	 	 	 	 	 	
Loans and Leases	 	 	$	5,859,152	 	 	$	5,782,969	
 	 	$	5,854,521	 	 	$	5,671,483	 	 	
Total Assets	 	 	13,733,418	 	 	13,525,667	
 	 	13,728,372	 	 	13,915,626	 	 	
Total Deposits	 	 	11,449,198	 	 	11,251,860	
 	 	11,529,482	 	 	11,547,993	 	 	
Long-Term Debt	 	 	174,727	 	 	177,427	
 	 	128,055	 	 	28,075	 	 	
Total Shareholders' Equity	 	 	986,368	 	 	1,026,104	
 	 	1,021,665	 	 	1,003,825	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Asset Quality	 	 	 	 	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	 	 	$	124,575	 	 	$	126,878	
 	 	$	128,857	 	 	$	132,443	 	 	
Non-Performing Assets	 	 	36,431	 	 	38,374	
 	 	37,083	 	 	41,494	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Financial Ratios	 	 	 	 	 	 	 	 	 	 	
Allowance to Loans and Leases Outstanding	 	 	2.13	 	%	2.19	
 	%	2.20	 	%	2.34	 	%	
Tier 1 Capital Ratio	 	 	15.53	 	 	16.12	
 	 	16.13	 	 	16.41	 	 	
Total Capital Ratio	 	 	16.79	 	 	17.38	
 	 	17.39	 	 	17.67	 	 	
Tier 1 Leverage Ratio	 	 	6.95	 	 	6.90	
 	 	6.83	 	 	6.57	 	 	
Total Shareholders' Equity to Total Assets	 	 	7.18	 	 	7.59	
 	 	7.44	 	 	7.21	 	 	
Tangible Common Equity to Tangible Assets 4	 	6.97	 	 	7.37	
 	 	7.23	 	 	7.00	 	 	
Tangible Common Equity to Risk-Weighted Assets 4	 	15.65	 	 	17.04	
 	 	17.24	 	 	17.57	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Non-Financial Data	 	 	 	 	 	 	 	 	 	 	
Full-Time Equivalent Employees	 	 	2,227	 	 	2,269	
 	 	2,276	 	 	2,312	 	 	
Branches and Offices	 	 	75	 	 	75	
 	 	76	 	 	77	 	 	
ATMs	 	 	486	 	 	489	
 	 	494	 	 	494	 	 	
 	 	 	 	 	 	 	 	 	 	 	
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 1b “Reconciliation of Non-GAAP Financial Measures."	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Reconciliation of Non-GAAP Financial Measures	 	 	 	Table 1b	
 	
 	 	 	June 30,	
 	March 31,	
 	December 31,	
 	June 30,	
 	
(dollars in thousands)	2013	
 	2013	
 	2012	
 	2012	

Total Shareholders' Equity	$	986,368	
 	$	1,026,104	
 	$	1,021,665	
 	$	1,003,825	
 	
Less:	Goodwill	31,517	
 	31,517	
 	31,517	
 	31,517	
 	
 	Intangible Assets	8	
 	21	
 	33	
 	58	
 	
Tangible Common Equity	$	954,843	
 	$	994,566	
 	$	990,115	
 	$	972,250	

Total Assets	$	13,733,418	
 	$	13,525,667	
 	$	13,728,372	
 	$	13,915,626	
 	
Less:	Goodwill	31,517	
 	31,517	
 	31,517	
 	31,517	
 	
 	Intangible Assets	8	
 	21	
 	33	
 	58	
 	
Tangible Assets	$	13,701,893	
 	$	13,494,129	
 	$	13,696,822	
 	$	13,884,051	

Risk-Weighted Assets, determined in accordance	 	 	 	 	
   with prescribed regulatory requirements	$	6,099,770	
 	$	5,836,354	
 	$	5,744,722	
 	$	5,532,285	

Total Shareholders' Equity to Total Assets	7.18	%	7.59	%	7.44	%	7.21	%	
Tangible Common Equity to Tangible Assets (Non-GAAP)	6.97	%	7.37	%	7.23	%	7.00	%	
 	 	 	 	 	 	 	
Tier 1 Capital Ratio	15.53	%	16.12	%	16.13	%	16.41	%	
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP)	15.65	%	17.04	%	17.24	%	17.57	%	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	
Net Significant Income Items	 	 	 	 	 	Table 2	
 	
 	      Three Months Ended	 	         Six Months Ended	
 	June 30,	
 	March 31,	 	June 30,	
 	 	            June 30,	
(dollars in thousands)	2013	
 	2013	 	2012	
 	 	2013	
 	2012	 	
Net Gains on Disposal of Leased Equipment	$	—	
 	$	—	 	$	—	
 	 	$	—	
 	$	2,473	 	
Decrease in Allowance for Loan and Lease Losses	2,303	
 	1,979	 	3,163	
 	 	4,282	
 	6,163	 	
Separation Expense	(864	)	(1,475	)	(405	)	 	(2,339	)	(822	)	
PC Refresh	—	
 	—	 	—	
 	 	—	
 	(1,163	)	
Significant Income Items Before the Provision for Income Taxes	1,439	
 	504	 	2,758	
 	 	1,943	
 	6,651	 	
Income Taxes Impact Related to Lease Transactions	—	
 	—	 	—	
 	 	—	
 	(2,733	)	
Release of Tax Reserve	(1,090	)	—	 	—	
 	 	(1,090	)	—	 	
Income Tax Impact	504	
 	176	 	965	
 	 	680	
 	1,112	 	
Net Significant Income Items	$	2,025	
 	$	328	 	$	1,793	
 	 	$	2,353	
 	$	8,272	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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)	2013	 	2013	 	2012	
 	 	2013	 	2012	
 	
Interest Income	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	62,729	 	$	62,820	 	$	63,910	
 	 	$	125,549	 	$	128,601	
 	
   Income on Investment Securities	 	 	 	 	 	 	
      Available-for-Sale	15,073	 	15,851	 	16,988	
 	 	30,924	 	34,701	
 	
      Held-to-Maturity	19,189	 	19,854	 	25,054	
 	 	39,043	 	51,467	
 	
   Deposits	1	 	3	 	1	
 	 	4	 	3	
 	
   Funds Sold	74	 	59	 	119	
 	 	133	 	248	
 	
   Other	285	 	284	 	281	
 	 	569	 	561	
 	
Total Interest Income	97,351	 	98,871	 	106,353	
 	 	196,222	 	215,581	
 	
Interest Expense	 	 	 	 	 	 	
   Deposits	2,579	 	2,646	 	3,219	
 	 	5,225	 	6,692	
 	
   Securities Sold Under Agreements to Repurchase	6,751	 	7,005	 	7,250	
 	 	13,756	 	14,554	
 	
   Funds Purchased	10	 	22	 	5	
 	 	32	 	10	
 	
   Long-Term Debt	671	 	638	 	498	
 	 	1,309	 	996	
 	
Total Interest Expense	10,011	 	10,311	 	10,972	
 	 	20,322	 	22,252	
 	
Net Interest Income	87,340	 	88,560	 	95,381	
 	 	175,900	 	193,329	
 	
Provision for Credit Losses	—	 	—	 	628	
 	 	—	 	979	
 	
Net Interest Income After Provision for Credit Losses	87,340	 	88,560	 	94,753	
 	 	175,900	 	192,350	
 	
Noninterest Income	 	 	 	 	 	 	
   Trust and Asset Management	12,089	 	11,886	 	11,195	
 	 	23,975	 	22,113	
 	
   Mortgage Banking	5,820	 	6,411	 	7,581	
 	 	12,231	 	12,631	
 	
   Service Charges on Deposit Accounts	9,112	 	9,301	 	9,225	
 	 	18,413	 	18,816	
 	
   Fees, Exchange, and Other Service Charges	13,133	 	11,934	 	12,326	
 	 	25,067	 	24,725	
 	
   Investment Securities Losses, Net	—	 	—	 	—	
 	 	—	 	(90	)	
   Insurance	2,393	 	2,325	 	2,399	
 	 	4,718	 	4,677	
 	
   Bank-Owned Life Insurance	1,335	 	1,297	 	1,739	
 	 	2,632	 	3,220	
 	
   Other	4,159	 	4,624	 	2,383	
 	 	8,783	 	8,838	
 	
Total Noninterest Income	48,041	 	47,778	 	46,848	
 	 	95,819	 	94,930	
 	
Noninterest Expense	 	 	 	 	 	 	
   Salaries and Benefits	45,341	 	48,675	 	44,037	
 	 	94,016	 	91,061	
 	
   Net Occupancy	9,661	 	9,635	 	10,058	
 	 	19,296	 	20,574	
 	
   Net Equipment	4,380	 	4,577	 	4,669	
 	 	8,957	 	10,495	
 	
   Data Processing	3,050	 	3,266	 	3,160	
 	 	6,316	 	6,747	
 	
   Professional Fees	2,391	 	2,226	 	2,386	
 	 	4,617	 	4,518	
 	
   FDIC Insurance	1,949	 	1,949	 	2,088	
 	 	3,898	 	4,159	
 	
   Other	14,409	 	14,059	 	14,349	
 	 	28,468	 	28,400	
 	
Total Noninterest Expense	81,181	 	84,387	 	80,747	
 	 	165,568	 	165,954	
 	
Income Before Provision for Income Taxes	54,200	 	51,951	 	60,854	
 	 	106,151	 	121,326	
 	
Provision for Income Taxes	16,437	 	15,971	 	20,107	
 	 	32,408	 	36,769	
 	
Net Income	$	37,763	 	$	35,980	 	$	40,747	
 	 	$	73,743	 	$	84,557	
 	
Basic Earnings Per Share	$	0.85	 	$	0.81	 	$	0.90	
 	 	$	1.66	 	$	1.86	
 	
Diluted Earnings Per Share	$	0.85	 	$	0.81	 	$	0.90	
 	 	$	1.65	 	$	1.85	
 	
Dividends Declared Per Share	$	0.45	 	$	0.45	 	$	0.45	
 	 	$	0.90	 	$	0.90	
 	
Basic Weighted Average Shares	44,493,069	 	44,545,092	 	45,221,293	
 	 	44,518,629	 	45,465,910	
 	
Diluted Weighted Average Shares	44,608,497	 	44,686,632	 	45,347,368	
 	 	44,644,348	 	45,610,489	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	
Consolidated Statements of Comprehensive Income (Loss)	 	 	 	 	Table 4	
 	
 	 	          Three Months Ended	 	     Six Months Ended	 	
 	 	June 30,	
 	March 31,	 	June 30,	 	 	           June 30,	
(dollars in thousands)	2013	
 	2013	 	2012	 	 	2013	
 	2012	 	
Net Income	$	37,763	
 	$	35,980	 	$	40,747	 	 	$	73,743	
 	$	84,557	 	
Other Comprehensive Income (Loss), Net of Tax:	 	 	 	 	 	 	
 	Net Unrealized Gains (Losses) on Investment Securities	(46,572	)	(9,641	)	3,387	 	 	(56,213	)	(3,067	)	
 	Defined Benefit Plans	201	
 	78	 	153	 	 	279	
 	306	 	
Total Other Comprehensive Income (Loss)	(46,371	)	(9,563	)	3,540	 	 	(55,934	)	(2,761	)	
Comprehensive Income (Loss)	$	(8,608	)	$	26,417	 	$	44,287	 	 	$	17,809	
 	$	81,796	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Consolidated Statements of Condition	 	 	 	Table 5	
 	
 	June 30,	
 	March 31,	 	December 31,	 	June 30,	 	
(dollars in thousands)	2013	
 	2013	 	2012	 	2012	 	
Assets	 	 	 	 	
Interest-Bearing Deposits	$	4,635	
 	$	4,840	 	$	3,393	 	$	3,057	 	
Funds Sold	329,922	
 	130,734	 	185,682	 	499,338	 	
Investment Securities	 	 	 	 	
   Available-for-Sale	2,815,408	
 	3,290,850	 	3,367,557	 	3,339,472	 	
   Held to Maturity (Fair Value of $4,036,197; $3,679,208;	 	 	 	 	
      $3,687,676; and $3,828,954)	4,027,829	
 	3,597,810	 	3,595,065	 	3,729,665	 	
Loans Held for Sale	25,880	
 	24,015	 	21,374	 	14,223	 	
Loans and Leases	5,859,152	
 	5,782,969	 	5,854,521	 	5,671,483	 	
   Allowance for Loan and Lease Losses	(124,575	)	(126,878	)	(128,857	)	(132,443	)	
     Net Loans and Leases	5,734,577	
 	5,656,091	 	5,725,664	 	5,539,040	 	
Total Earning Assets	12,938,251	
 	12,704,340	 	12,898,735	 	13,124,795	 	
Cash and Noninterest-Bearing Deposits	136,386	
 	147,796	 	163,786	 	131,845	 	
Premises and Equipment	105,752	
 	104,844	 	105,005	 	107,421	 	
Customers' Acceptances	114	
 	152	 	173	 	176	 	
Accrued Interest Receivable	43,375	
 	46,183	 	43,077	 	45,044	 	
Foreclosed Real Estate	3,256	
 	3,318	 	3,887	 	2,569	 	
Mortgage Servicing Rights	27,631	
 	26,540	 	25,240	 	23,254	 	
Goodwill	31,517	
 	31,517	 	31,517	 	31,517	 	
Other Assets	447,136	
 	460,977	 	456,952	 	449,005	 	
Total Assets	$	13,733,418	
 	$	13,525,667	 	$	13,728,372	 	$	13,915,626	 	
 	 	 	 	 	
Liabilities	 	 	 	 	
Deposits	 	 	 	 	
   Noninterest-Bearing Demand	$	3,396,835	
 	$	3,336,406	 	$	3,367,185	 	$	3,105,798	 	
   Interest-Bearing Demand	2,269,196	
 	2,127,550	 	2,163,473	 	2,063,070	 	
   Savings	4,433,042	
 	4,451,143	 	4,399,316	 	4,435,894	 	
   Time	1,350,125	
 	1,336,761	 	1,599,508	 	1,943,231	 	
Total Deposits	11,449,198	
 	11,251,860	 	11,529,482	 	11,547,993	 	
Funds Purchased	9,983	
 	66,296	 	11,296	 	13,756	 	
Securities Sold Under Agreements to Repurchase	866,237	
 	748,718	 	758,947	 	1,065,653	 	
Long-Term Debt	174,727	
 	177,427	 	128,055	 	28,075	 	
Banker's Acceptances	114	
 	152	 	173	 	176	 	
Retirement Benefits Payable	47,318	
 	47,423	 	47,658	 	41,812	 	
Accrued Interest Payable	4,399	
 	5,772	 	4,776	 	5,114	 	
Taxes Payable and Deferred Taxes	48,947	
 	93,906	 	88,014	 	86,095	 	
Other Liabilities	146,127	
 	108,009	 	138,306	 	123,127	 	
Total Liabilities	12,747,050	
 	12,499,563	 	12,706,707	 	12,911,801	 	
Shareholders' Equity	 	 	 	 	
Common Stock ($.01 par value; authorized 500,000,000 shares;	 	 	 	 	
   issued / outstanding: June 30, 2013 - 57,488,745 / 44,644,596;	 	 	 	 	
   March 31, 2013 - 57,465,782 / 44,861,335;	 	 	 	 	
   December 31, 2012 - 57,319,352 / 44,754,835;	 	 	 	 	
   and June 30, 2012 - 57,301,892 / 45,248,277)	572	
 	572	 	571	 	571	 	
Capital Surplus	518,804	
 	517,327	 	515,619	 	511,729	 	
Accumulated Other Comprehensive Income (Loss)	(26,726	)	19,645	 	29,208	 	32,502	 	
Retained Earnings	1,115,594	
 	1,098,674	 	1,084,477	 	1,044,588	 	
Treasury Stock, at Cost (Shares: June 30, 2013 - 12,844,149;	 	 	 	 	
   March 31, 2013 - 12,604,447; December 31, 2012 - 12,564,517;	 	 	 	 	
   and June 30, 2012 - 12,053,615)	(621,876	)	(610,114	)	(608,210	)	(585,565	)	
Total Shareholders' Equity	986,368	
 	1,026,104	 	1,021,665	 	1,003,825	 	
Total Liabilities and Shareholders' Equity	$	13,733,418	
 	$	13,525,667	 	$	13,728,372	 	$	13,915,626	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	
Consolidated Statements of Shareholders' Equity	 	 	 	 	 	Table 6	
 	
 	 	 	 	Accum.	
 	 	 	 	
 	 	 	 	Other	
 	 	 	 	
 	 	 	 	Compre-	
 	 	 	 	
 	Common	
 	 	 	hensive	
 	 	 	 	
 	Shares	
 	Common	
 	Capital	
 	Income	
 	Retained	
 	Treasury	
 	 	
(dollars in thousands)	Outstanding	
 	Stock	
 	Surplus	
 	(Loss)	
 	Earnings	
 	Stock	
 	Total	
 	
Balance as of December 31, 2012	44,754,835	
 	$	571	
 	$	515,619	
 	$	29,208	
 	$	1,084,477	
 	$	(608,210	)	$	1,021,665	
 	
Net Income	—	
 	—	
 	—	
 	—	
 	73,743	
 	—	
 	73,743	
 	
Other Comprehensive Loss	—	
 	—	
 	—	
 	(55,934	)	—	
 	—	
 	(55,934	)	
Share-Based Compensation	—	
 	—	
 	2,732	
 	—	
 	—	
 	—	
 	2,732	
 	
Common Stock Issued under Purchase and Equity	 	 	 	 	 	 	 	
   Compensation Plans and Related Tax Benefits	379,870	
 	1	
 	453	
 	—	
 	(2,235	)	10,294	
 	8,513	
 	
Common Stock Repurchased	(490,109	)	—	
 	—	
 	—	
 	—	
 	(23,960	)	(23,960	)	
Cash Dividends Paid ($0.90 per share)	—	
 	—	
 	—	
 	—	
 	(40,391	)	—	
 	(40,391	)	
Balance as of June 30, 2013	44,644,596	
 	$	572	
 	$	518,804	
 	$	(26,726	)	$	1,115,594	
 	$	(621,876	)	$	986,368	

Balance as of December 31, 2011	45,947,116	
 	$	571	
 	$	507,558	
 	$	35,263	
 	$	1,003,938	
 	$	(544,663	)	$	1,002,667	
 	
Net Income	—	
 	—	
 	—	
 	—	
 	84,557	
 	—	
 	84,557	
 	
Other Comprehensive Loss	—	
 	—	
 	—	
 	(2,761	)	—	
 	—	
 	(2,761	)	
Share-Based Compensation	—	
 	—	
 	3,723	
 	—	
 	—	
 	—	
 	3,723	
 	
Common Stock Issued under Purchase and Equity	 	 	 	 	 	 	 	
   Compensation Plans and Related Tax Benefits	400,094	
 	—	
 	448	
 	—	
 	(2,758	)	10,684	
 	8,374	
 	
Common Stock Repurchased	(1,098,933	)	—	
 	—	
 	—	
 	—	
 	(51,586	)	(51,586	)	
Cash Dividends Paid ($0.90 per share)	—	
 	—	
 	—	
 	—	
 	(41,149	)	—	
 	(41,149	)	
Balance as of June 30, 2012	45,248,277	
 	$	571	
 	$	511,729	
 	$	32,502	
 	$	1,044,588	
 	$	(585,565	)	$	1,003,825	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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, 2013	 	March 31, 2013	 	June 30, 2012	 	
 	 	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	$	4.5	
 	$	—	
 	0.06	
 	%	$	4.0	
 	$	—	 	0.32	 	%	$	3.0	 	$	—	 	0.12	 	%	
Funds Sold	168.3	
 	0.1	
 	0.18	
 	 	156.4	
 	0.1	 	0.15	 	 	237.8	 	0.1	 	0.20	 	 	
Investment Securities	 	 	 	 	 	 	 	 	 	 	 	 	
 	Available-for-Sale	3,212.2	
 	17.4	
 	2.17	
 	 	3,322.1	
 	18.2	 	2.19	 	 	3,410.4	 	19.4	 	2.27	 	 	
 	Held-to-Maturity	3,714.3	
 	19.2	
 	2.07	
 	 	3,578.1	
 	19.8	 	2.22	 	 	3,788.9	 	25.1	 	2.65	 	 	
Loans Held for Sale	22.9	
 	0.2	
 	3.87	
 	 	18.3	
 	0.2	 	3.94	 	 	12.1	 	0.1	 	4.22	 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	855.5	
 	7.8	
 	3.65	
 	 	822.9	
 	7.6	 	3.75	 	 	786.3	 	7.7	 	3.93	 	 	
 	Commercial Mortgage	1,114.8	
 	11.3	
 	4.08	
 	 	1,093.4	
 	11.1	 	4.10	 	 	953.5	 	10.4	 	4.40	 	 	
 	Construction	107.5	
 	1.2	
 	4.61	
 	 	115.5	
 	1.4	 	5.04	 	 	99.7	 	1.3	 	5.07	 	 	
 	Commercial Lease Financing	265.2	
 	1.6	
 	2.36	
 	 	272.7	
 	1.6	 	2.41	 	 	284.5	 	1.7	 	2.36	 	 	
 	Residential Mortgage	2,252.1	
 	25.5	
 	4.53	
 	 	2,311.6	
 	25.9	 	4.49	 	 	2,371.7	 	27.9	 	4.71	 	 	
 	Home Equity	752.9	
 	7.8	
 	4.15	
 	 	767.9	
 	7.9	 	4.16	 	 	772.3	 	8.4	 	4.36	 	 	
 	Automobile	225.0	
 	3.1	
 	5.51	
 	 	214.1	
 	3.0	 	5.61	 	 	193.7	 	2.9	 	6.03	 	 	
 	Other 2	208.9	
 	4.3	
 	8.22	
 	 	205.4	
 	4.2	 	8.33	 	 	179.9	 	3.6	 	8.12	 	 	
Total Loans and Leases	5,781.9	
 	62.6	
 	4.34	
 	 	5,803.5	
 	62.7	 	4.36	 	 	5,641.6	 	63.9	 	4.54	 	 	
Other	78.6	
 	0.3	
 	1.45	
 	 	79.1	
 	0.3	 	1.44	 	 	80.0	 	0.3	 	1.41	 	 	
Total Earning Assets3	12,982.7	
 	99.8	
 	3.08	
 	 	12,961.5	
 	101.3	 	3.14	 	 	13,173.8	 	108.9	 	3.31	 	 	
Cash and Noninterest-Bearing Deposits	136.8	
 	 	 	 	141.9	
 	 	 	 	131.7	 	 	 	 	
Other Assets	452.8	
 	 	 	 	454.0	
 	 	 	 	445.0	 	 	 	 	
Total Assets	$	13,572.3	
 	 	 	 	$	13,557.4	
 	 	 	 	$	13,750.5	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	 	 	 	 	
 	Demand	$	2,106.0	
 	0.2	
 	0.03	
 	 	$	2,060.7	
 	0.1	 	0.03	 	 	$	1,906.1	 	0.1	 	0.03	 	 	
 	Savings	4,451.1	
 	1.0	
 	0.09	
 	 	4,408.4	
 	1.0	 	0.09	 	 	4,444.5	 	1.1	 	0.10	 	 	
 	Time	1,381.4	
 	1.4	
 	0.42	
 	 	1,512.9	
 	1.5	 	0.41	 	 	1,253.9	 	2.0	 	0.63	 	 	
Total Interest-Bearing Deposits	7,938.5	
 	2.6	
 	0.13	
 	 	7,982.0	
 	2.6	 	0.13	 	 	7,604.5	 	3.2	 	0.17	 	 	
Short-Term Borrowings	29.4	
 	—	
 	0.12	
 	 	58.1	
 	—	 	0.15	 	 	15.0	 	—	 	0.14	 	 	
Securities Sold Under Agreements	 	 	 	 	 	 	 	 	 	 	 	 	
   to Repurchase	800.1	
 	6.7	
 	3.34	
 	 	756.1	
 	7.0	 	3.71	 	 	1,808.5	 	7.3	 	1.59	 	 	
Long-Term Debt	177.3	
 	0.7	
 	1.52	
 	 	157.1	
 	0.7	 	1.63	 	 	30.6	 	0.5	 	6.51	 	 	
Total Interest-Bearing Liabilities	8,945.3	
 	10.0	
 	0.44	
 	 	8,953.3	
 	10.3	 	0.46	 	 	9,458.6	 	11.0	 	0.46	 	 	
Net Interest Income	 	$	89.8	
 	 	 	 	$	91.0	 	 	 	 	$	97.9	 	 	 	
 	Interest Rate Spread	 	 	2.64	
 	%	 	 	2.68	 	%	 	 	2.85	 	%	
 	Net Interest Margin	 	 	2.77	
 	%	 	 	2.82	 	%	 	 	2.98	 	%	
Noninterest-Bearing Demand Deposits	3,306.1	
 	 	 	 	3,305.5	
 	 	 	 	3,017.9	 	 	 	 	
Other Liabilities	286.5	
 	 	 	 	263.8	
 	 	 	 	261.8	 	 	 	 	
Shareholders' Equity	1,034.4	
 	 	 	 	1,034.8	
 	 	 	 	1,012.2	 	 	 	 	
Total Liabilities and	 	 	 	 	 	 	 	 	 	 	 	 	
   Shareholders' Equity	$	13,572.3	
 	 	 	 	$	13,557.4	
 	 	 	 	$	13,750.5	 	 	 	 	

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 $2,490,000, $2,411,000 and $2,481,000 for the three months ended June 30,
   2013, March 31, 2013, and June 30, 2012, 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, 2013	 	June 30, 2012	 	
 	 	Average	 	Income/	 	Yield/	 	 	Average	 	Income/	 	Yield/	 	 	
(dollars in millions)	Balance	 	Expense	 	Rate	 	 	Balance	 	Expense	 	Rate	 	 	
Earning Assets	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	$	4.2	 	$	—	 	0.18	 	%	$	3.1	 	$	—	 	0.19	 	%	
Funds Sold	162.4	 	0.1	 	0.16	 	 	250.1	 	0.2	 	0.20	 	 	
Investment Securities	 	 	 	 	 	 	 	 	
 	Available-for-Sale	3,266.9	 	35.6	 	2.18	 	 	3,431.0	 	39.0	 	2.28	 	 	
 	Held-to-Maturity	3,646.6	 	39.1	 	2.14	 	 	3,763.1	 	51.5	 	2.74	 	 	
Loans Held for Sale	20.6	 	0.4	 	3.90	 	 	12.0	 	0.3	 	4.22	 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	839.3	 	15.4	 	3.70	 	 	796.1	 	15.8	 	3.98	 	 	
 	Commercial Mortgage	1,104.1	 	22.4	 	4.09	 	 	947.6	 	21.0	 	4.45	 	 	
 	Construction	111.5	 	2.7	 	4.83	 	 	101.6	 	2.6	 	5.21	 	 	
 	Commercial Lease Financing	268.9	 	3.2	 	2.38	 	 	289.4	 	3.4	 	2.35	 	 	
 	Residential Mortgage	2,281.7	 	51.5	 	4.51	 	 	2,318.0	 	55.7	 	4.80	 	 	
 	Home Equity	760.4	 	15.7	 	4.15	 	 	775.6	 	16.9	 	4.39	 	 	
 	Automobile	219.5	 	6.0	 	5.56	 	 	193.4	 	5.9	 	6.12	 	 	
 	Other 2	207.2	 	8.5	 	8.28	 	 	180.8	 	7.3	 	8.10	 	 	
Total Loans and Leases	5,792.6	 	125.4	 	4.35	 	 	5,602.5	 	128.6	 	4.60	 	 	
Other	78.8	 	0.5	 	1.44	 	 	80.0	 	0.6	 	1.40	 	 	
Total Earning Assets3	12,972.1	 	201.1	 	3.11	 	 	13,141.8	 	220.2	 	3.36	 	 	
Cash and Noninterest-Bearing Deposits	139.4	 	 	 	 	134.5	 	 	 	 	
Other Assets	453.4	 	 	 	 	439.6	 	 	 	 	
Total Assets	$	13,564.9	 	 	 	 	$	13,715.9	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	
 	Demand	$	2,083.4	 	0.3	 	0.03	 	 	$	1,886.6	 	0.2	 	0.03	 	 	
 	Savings	4,429.9	 	1.9	 	0.09	 	 	4,441.8	 	2.4	 	0.11	 	 	
 	Time	1,446.8	 	3.0	 	0.42	 	 	1,257.0	 	4.1	 	0.64	 	 	
Total Interest-Bearing Deposits	7,960.1	 	5.2	 	0.13	 	 	7,585.4	 	6.7	 	0.18	 	 	
Short-Term Borrowings	43.7	 	—	 	0.14	 	 	15.3	 	—	 	0.13	 	 	
Securities Sold Under Agreements to Repurchase	778.2	 	13.8	 	3.52	 	 	1,862.3	 	14.6	 	1.55	 	 	
Long-Term Debt	167.3	 	1.3	 	1.57	 	 	30.7	 	1.0	 	6.50	 	 	
Total Interest-Bearing Liabilities	8,949.3	 	20.3	 	0.45	 	 	9,493.7	 	22.3	 	0.47	 	 	
Net Interest Income	 	$	180.8	 	 	 	 	$	197.9	 	 	 	
 	Interest Rate Spread	 	 	2.66	 	%	 	 	2.89	 	%	
 	Net Interest Margin	 	 	2.80	 	%	 	 	3.02	 	%	
Noninterest-Bearing Demand Deposits	3,305.8	 	 	 	 	2,940.9	 	 	 	 	
Other Liabilities	275.2	 	 	 	 	264.9	 	 	 	 	
Shareholders' Equity	1,034.6	 	 	 	 	1,016.4	 	 	 	 	
Total Liabilities and Shareholders' Equity	$	13,564.9	 	 	 	 	$	13,715.9	 	 	 	 	

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 $4,901,000 and $4,551,000 for the six months ended June 30,
   2013 and 2012, respectively.	

 	
 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	 	Table 8a	
 	
 	          Three Months Ended June 30, 2013	
 	           Compared to March 31, 2013	
(dollars in millions)	Volume1	
 	Rate1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Investment Securities	 	 	 	
   Available-for-Sale	$	(0.6	)	$	(0.2	)	$	(0.8	)	
   Held-to-Maturity	0.8	
 	(1.4	)	(0.6	)	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.4	
 	(0.2	)	0.2	
 	
   Commercial Mortgage	0.3	
 	(0.1	)	0.2	
 	
   Construction	(0.1	)	(0.1	)	(0.2	)	
   Residential Mortgage	(0.7	)	0.3	
 	(0.4	)	
   Home Equity	(0.1	)	—	
 	(0.1	)	
   Automobile	0.2	
 	(0.1	)	0.1	
 	
   Other 2	0.1	
 	—	
 	0.1	
 	
Total Loans and Leases	0.1	
 	(0.2	)	(0.1	)	
Total Change in Interest Income	0.3	
 	(1.8	)	(1.5	)	
 	 	 	 	
Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	—	
 	0.1	
 	0.1	
 	
   Time	(0.1	)	—	
 	(0.1	)	
Total Interest-Bearing Deposits	(0.1	)	0.1	
 	—	
 	
Securities Sold Under Agreements to Repurchase	0.4	
 	(0.7	)	(0.3	)	
Long-Term Debt	0.1	
 	(0.1	)	—	
 	
Total Change in Interest Expense	0.4	
 	(0.7	)	(0.3	)	
 	 	 	 	
Change in Net Interest Income	$	(0.1	)	$	(1.1	)	$	(1.2	)	
 	 	 	 	
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, 2013	
 	             Compared to June 30, 2012	
(dollars in millions)	Volume1	 	Rate1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Investment Securities	 	 	 	
   Available-for-Sale	$	(1.1	)	$	(0.9	)	$	(2.0	)	
   Held-to-Maturity	(0.5	)	(5.4	)	(5.9	)	
Loans Held for Sale	0.1	 	—	
 	0.1	
 	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.7	 	(0.6	)	0.1	
 	
   Commercial Mortgage	1.7	 	(0.8	)	0.9	
 	
   Construction	—	 	(0.1	)	(0.1	)	
   Commercial Lease Financing	(0.1	)	—	
 	(0.1	)	
   Residential Mortgage	(1.4	)	(1.0	)	(2.4	)	
   Home Equity	(0.2	)	(0.4	)	(0.6	)	
   Automobile	0.5	 	(0.3	)	0.2	
 	
   Other 2	0.6	 	0.1	
 	0.7	
 	
Total Loans and Leases	1.8	 	(3.1	)	(1.3	)	
Total Change in Interest Income	0.3	 	(9.4	)	(9.1	)	
 	 	 	 	
Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	—	 	0.1	
 	0.1	
 	
   Savings	—	 	(0.1	)	(0.1	)	
   Time	0.2	 	(0.8	)	(0.6	)	
Total Interest-Bearing Deposits	0.2	 	(0.8	)	(0.6	)	
Securities Sold Under Agreements to Repurchase	(5.5	)	4.9	
 	(0.6	)	
Long-Term Debt	0.8	 	(0.6	)	0.2	
 	
Total Change in Interest Expense	(4.5	)	3.5	
 	(1.0	)	
 	 	 	 	
Change in Net Interest Income	$	4.8	 	$	(12.9	)	$	(8.1	)	

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, 2013	
 	           Compared to June 30, 2012	
(dollars in millions)	Volume1	
 	Rate1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Funds Sold	$	(0.1	)	$	—	
 	$	(0.1	)	
Investment Securities	 	 	 	
   Available-for-Sale	(1.8	)	(1.6	)	(3.4	)	
   Held-to-Maturity	(1.5	)	(10.9	)	(12.4	)	
Loans Held for Sale	0.1	
 	—	
 	0.1	
 	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.8	
 	(1.2	)	(0.4	)	
   Commercial Mortgage	3.2	
 	(1.8	)	1.4	
 	
   Construction	0.3	
 	(0.2	)	0.1	
 	
   Commercial Lease Financing	(0.3	)	0.1	
 	(0.2	)	
   Residential Mortgage	(0.9	)	(3.3	)	(4.2	)	
   Home Equity	(0.3	)	(0.9	)	(1.2	)	
   Automobile	0.7	
 	(0.6	)	0.1	
 	
   Other 2	1.1	
 	0.1	
 	1.2	
 	
Total Loans and Leases	4.6	
 	(7.8	)	(3.2	)	
Other	(0.1	)	—	
 	(0.1	)	
Total Change in Interest Income	1.2	
 	(20.3	)	(19.1	)	
 	 	 	 	
Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	—	
 	0.1	
 	0.1	
 	
   Savings	—	
 	(0.5	)	(0.5	)	
   Time	0.5	
 	(1.6	)	(1.1	)	
Total Interest-Bearing Deposits	0.5	
 	(2.0	)	(1.5	)	
Securities Sold Under Agreements to Repurchase	(11.8	)	11.0	
 	(0.8	)	
Long-Term Debt	1.5	
 	(1.2	)	0.3	
 	
Total Change in Interest Expense	(9.8	)	7.8	
 	(2.0	)	
 	 	 	 	
Change in Net Interest Income	$	11.0	
 	$	(28.1	)	$	(17.1	)	
 	 	 	 	
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)	2013	 	2013	 	2012	
 	 	2013	 	2012	
 	
Salaries	$	28,690	 	$	29,078	 	$	27,831	
 	 	$	57,768	 	$	56,518	
 	
Incentive Compensation	3,861	 	3,784	 	4,132	
 	 	7,645	 	8,186	
 	
Share-Based Compensation	1,305	 	1,136	 	1,758	
 	 	2,441	 	3,443	
 	
Commission Expense	1,983	 	1,781	 	1,754	
 	 	3,764	 	3,290	
 	
Retirement and Other Benefits	3,594	 	4,368	 	3,481	
 	 	7,962	 	7,871	
 	
Payroll Taxes	2,576	 	4,240	 	2,437	
 	 	6,816	 	6,255	
 	
Medical, Dental, and Life Insurance	2,468	 	2,813	 	2,239	
 	 	5,281	 	4,676	
 	
Separation Expense	864	 	1,475	 	405	
 	 	2,339	 	822	
 	
Total Salaries and Benefits	$	45,341	 	$	48,675	 	$	44,037	
 	 	$	94,016	 	$	91,061	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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)	2013	 	2013	 	2012	 	2012	 	2012	
 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	875,702	 	$	834,801	 	$	829,512	 	$	808,621	 	$	781,688	
 	
 	Commercial Mortgage	1,160,977	 	1,104,718	 	1,097,425	 	1,039,556	 	961,984	
 	
 	Construction	107,016	 	117,797	 	113,987	 	101,818	 	97,668	
 	
 	Lease Financing	257,067	 	269,107	 	274,969	 	277,328	 	281,020	
 	
Total Commercial	2,400,762	 	2,326,423	 	2,315,893	 	2,227,323	 	2,122,360	
 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	2,252,117	 	2,275,209	 	2,349,916	 	2,392,871	 	2,401,331	
 	
 	Home Equity	751,790	 	757,877	 	770,376	 	770,284	 	766,839	
 	
 	Automobile	233,475	 	220,362	 	209,832	 	200,788	 	194,339	
 	
 	Other 1	221,008	 	203,098	 	208,504	 	191,038	 	186,614	
 	
Total Consumer	3,458,390	 	3,456,546	 	3,538,628	 	3,554,981	 	3,549,123	
 	
Total Loans and Leases	$	5,859,152	 	$	5,782,969	 	$	5,854,521	 	$	5,782,304	 	$	5,671,483	

 	 	 	 	 	 	 	 	
Higher Risk Loans and Leases Outstanding	 	 	 	 	 	
 	 	 	June 30,	 	March 31,	 	December 31,	 	September 30,	 	June 30,	
 	
(dollars in thousands)	2013	 	2013	 	2012	 	2012	 	2012	
 	
Residential Land Loans 2	$	13,708	 	$	13,996	 	$	14,984	 	$	16,513	 	$	16,703	
 	
Home Equity Loans 3	13,578	 	20,786	 	19,914	 	19,774	 	22,029	
 	
Air Transportation 4	26,436	 	27,115	 	27,782	 	27,765	 	27,633	
 	
Total Higher Risk Loans	$	53,722	 	$	61,897	 	$	62,680	 	$	64,052	 	$	66,365	

1  Comprised of other revolving credit, installment, and lease financing.	 	 	 	 	
2  We consider all of our residential land loans, which are consumer loans secured by unimproved lots, to be of higher risk due to the volatility in the value of the underlying
   collateral.	
3  Higher risk home equity loans are defined as those loans originated in 2005 or later, with current monitoring credit scores below 600, and with original loan-to-value ratios
   greater than 70%.	
4  We consider all of our air transportation leases to be of higher risk due to the weak financial profile of the industry.	 	

Deposits	 	 	 	 	 	
 	 	 	June 30,	 	March 31,	 	December 31,	 	September 30,	 	June 30,	
 	
(dollars in thousands)	2013	 	2013	 	2012	 	2012	 	2012	
 	
Consumer	$	5,626,515	 	$	5,607,862	 	$	5,537,624	 	$	5,369,724	 	$	5,360,325	
 	
Commercial	4,537,120	 	4,505,835	 	4,576,410	 	4,394,745	 	4,403,095	
 	
Public and Other	1,285,563	 	1,138,163	 	1,415,448	 	1,456,078	 	1,784,573	
 	
Total Deposits	$	11,449,198	 	$	11,251,860	 	$	11,529,482	 	$	11,220,547	 	$	11,547,993	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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)	2013	
 	2013	 	2012	 	2012	 	2012	 	
Non-Performing Assets	 	 	 	 	 	
Non-Accrual Loans and Leases	 	 	 	 	 	
 	Commercial	 	 	 	 	 	
 	 	Commercial and Industrial	$	4,909	
 	$	5,033	 	$	5,534	 	$	5,635	 	$	5,778	 	
 	 	Commercial Mortgage	2,772	
 	2,910	 	3,030	 	2,671	 	2,737	 	
 	 	Construction	—	
 	—	 	833	 	953	 	1,182	 	
 	 	Lease Financing	16	
 	—	 	—	 	—	 	—	 	
 	Total Commercial	7,697	
 	7,943	 	9,397	 	9,259	 	9,697	 	
 	Consumer	 	 	 	 	 	
 	 	Residential Mortgage	22,876	
 	24,700	 	21,725	 	25,456	 	26,803	 	
 	 	Home Equity	2,602	
 	2,413	 	2,074	 	2,502	 	2,425	 	
 	Total Consumer	25,478	
 	27,113	 	23,799	 	27,958	 	29,228	 	
Total Non-Accrual Loans and Leases	33,175	
 	35,056	 	33,196	 	37,217	 	38,925	 	
Foreclosed Real Estate	3,256	
 	3,318	 	3,887	 	3,067	 	2,569	 	
Total Non-Performing Assets	$	36,431	
 	$	38,374	 	$	37,083	 	$	40,284	 	$	41,494	 	
 	 	 	 	 	 	 	 	
Accruing Loans and Leases Past Due 90 Days or More	 	 	 	 	 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	—	
 	$	230	 	$	27	 	$	—	 	$	1	 	
Total Commercial	—	
 	230	 	27	 	—	 	1	 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	6,876	
 	5,967	 	6,908	 	3,988	 	4,229	 	
 	Home Equity	2,768	
 	4,538	 	2,701	 	2,755	 	2,445	 	
 	Automobile	95	
 	241	 	186	 	154	 	98	 	
 	Other 1	855	
 	676	 	587	 	578	 	395	 	
Total Consumer	10,594	
 	11,422	 	10,382	 	7,475	 	7,167	 	
Total Accruing Loans and Leases Past Due 90 Days or More	$	10,594	
 	$	11,652	 	$	10,409	 	$	7,475	 	$	7,168	 	
Restructured Loans on Accrual Status	 	 	 	 	 	
   and Not Past Due 90 Days or More	$	39,154	
 	$	30,065	 	$	31,844	 	$	31,426	 	$	31,124	 	
Total Loans and Leases	$	5,859,152	
 	$	5,782,969	 	$	5,854,521	 	$	5,782,304	 	$	5,671,483	 	
 	 	 	 	 	 	 	 	
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases	0.57	%	0.61	%	0.57	%	0.64	%	0.69	%	
 	 	 	 	 	 	 	 	
Ratio of Non-Performing Assets to Total Loans and Leases,	 	 	 	 	 	
 	and Foreclosed Real Estate	0.62	%	0.66	%	0.63	%	0.70	%	0.73	%	
 	 	 	 	 	 	 	 	
Ratio of Commercial Non-Performing Assets to Total Commercial	 	 	 	 	 	
 	Loans and Leases, and Commercial Foreclosed Real Estate	0.37	%	0.39	%	0.45	%	0.46	%	0.51	%	
 	 	 	 	 	 	 	 	
Ratio of Consumer Non-Performing Assets to Total Consumer	 	 	 	 	 	
 	Loans and Leases and Consumer Foreclosed Real Estate	0.80	%	0.85	%	0.75	%	0.84	%	0.87	%	
 	 	 	 	 	 	 	 	
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	0.80	%	0.86	%	0.81	%	0.83	%	0.86	%	
 	 	 	 	 	 	 	 	
Quarter to Quarter Changes in Non-Performing Assets	 	 	 	 	 	
Balance at Beginning of Quarter	$	38,374	
 	$	37,083	 	$	40,284	 	$	41,494	 	$	41,406	 	
Additions	2,647	
 	7,304	 	3,837	 	2,878	 	7,574	 	
Reductions	 	 	 	 	 	
 	Payments	(1,306	)	(2,630	)	(3,994	)	(2,408	)	(2,942	)	
 	Return to Accrual Status	(1,978	)	(1,132	)	(728	)	(1,083	)	(2,085	)	
 	Sales of Foreclosed Real Estate	(1,257	)	(1,910	)	(1,354	)	(424	)	(2,247	)	
 	Charge-offs/Write-downs	(49	)	(341	)	(962	)	(173	)	(212	)	
Total Reductions	(4,590	)	(6,013	)	(7,038	)	(4,088	)	(7,486	)	
Balance at End of Quarter	$	36,431	
 	$	38,374	 	$	37,083	 	$	40,284	 	$	41,494	 	
 	 	 	 	 	 	 	 	
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)	2013	
 	2013	 	2012	 	 	2013	
 	2012	 	
Balance at Beginning of Period	$	132,297	
 	$	134,276	 	$	141,025	 	 	$	134,276	
 	$	144,025	 	
Loans and Leases Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	(266	)	(382	)	(1,078	)	 	(648	)	(2,509	)	
 	 	Construction	—	
 	—	 	—	 	 	—	
 	(330	)	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	(188	)	(1,235	)	(1,369	)	 	(1,423	)	(2,949	)	
 	 	Home Equity	(2,016	)	(1,377	)	(1,657	)	 	(3,393	)	(4,098	)	
 	 	Automobile	(429	)	(575	)	(438	)	 	(1,004	)	(964	)	
 	 	Other 1	(1,805	)	(1,730	)	(1,394	)	 	(3,535	)	(2,845	)	
Total Loans and Leases Charged-Off	(4,704	)	(5,299	)	(5,936	)	 	(10,003	)	(13,695	)	
Recoveries on Loans and Leases Previously Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	437	
 	438	 	524	 	 	875	
 	2,457	 	
 	 	Commercial Mortgage	14	
 	10	 	10	 	 	24	
 	34	 	
 	 	Construction	8	
 	338	 	—	 	 	346	
 	—	 	
 	 	Lease Financing	11	
 	11	 	11	 	 	22	
 	83	 	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	634	
 	788	 	376	 	 	1,422	
 	1,042	 	
 	 	Home Equity	335	
 	748	 	165	 	 	1,083	
 	735	 	
 	 	Automobile	456	
 	461	 	482	 	 	917	
 	1,020	 	
 	 	Other 1	506	
 	526	 	577	 	 	1,032	
 	1,182	 	
Total Recoveries on Loans and Leases Previously Charged-Off	2,401	
 	3,320	 	2,145	 	 	5,721	
 	6,553	 	
Net Loans and Leases Charged-Off	(2,303	)	(1,979	)	(3,791	)	 	(4,282	)	(7,142	)	
Provision for Credit Losses	—	
 	—	 	628	 	 	—	
 	979	 	
Provision for Unfunded Commitments	500	
 	—	 	—	 	 	500	
 	—	 	
Balance at End of Period2	$	130,494	
 	$	132,297	 	$	137,862	 	 	$	130,494	
 	$	137,862	 	
 	 	 	 	 	 	 	 	 	
Components	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	$	124,575	
 	$	126,878	 	$	132,443	 	 	$	124,575	
 	$	132,443	 	
Reserve for Unfunded Commitments	5,919	
 	5,419	 	5,419	 	 	5,919	
 	5,419	 	
Total Reserve for Credit Losses	$	130,494	
 	$	132,297	 	$	137,862	 	 	$	130,494	
 	$	137,862	 	
 	 	 	 	 	 	 	 	 	
Average Loans and Leases Outstanding	$	5,781,898	
 	$	5,803,503	 	$	5,641,588	 	 	$	5,792,641	
 	$	5,602,473	 	
 	 	 	 	 	 	 	 	 	
Ratio of Net Loans and Leases Charged-Off to	 	 	 	 	 	 	
 	Average Loans and Leases Outstanding (annualized)	0.16	%	0.14	%	0.27	%	 	0.15	%	0.26	%	
Ratio of Allowance for Loan and Lease Losses to Loans	 	 	 	 	 	 	
 	and Leases Outstanding	2.13	%	2.19	%	2.34	%	 	2.13	%	2.34	%	
 	 	 	 	 	 	 	 	 	
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, 2013	 	 	 	 	 	
Net Interest Income	$	35,725	
 	$	28,554	 	$	2,594	 	$	20,467	 	$	87,340	
 	
Provision for Credit Losses	1,857	
 	472	 	(12	)	(2,317	)	—	
 	
Net Interest Income After Provision for Credit Losses	33,868	
 	28,082	 	2,606	 	22,784	 	87,340	
 	
Noninterest Income	20,871	
 	9,117	 	15,288	 	2,765	 	48,041	
 	
Noninterest Expense	(43,540	)	(22,011	)	(13,135	)	(2,495	)	(81,181	)	
Income Before Income Taxes	11,199	
 	15,188	 	4,759	 	23,054	 	54,200	
 	
Provision for Income Taxes	(4,144	)	(5,177	)	(1,761	)	(5,355	)	(16,437	)	
Net Income	7,055	
 	10,011	 	2,998	 	17,699	 	37,763	
 	
Total Assets as of June 30, 2013	$	3,283,634	
 	$	2,567,461	 	$	188,871	 	$	7,693,452	 	$	13,733,418	

 	 	 	 	 	 	
Three Months Ended June 30, 20121	 	 	 	 	 	
Net Interest Income	$	39,118	
 	$	30,817	 	$	3,150	 	$	22,296	 	$	95,381	
 	
Provision for Credit Losses	3,334	
 	157	 	301	 	(3,164	)	628	
 	
Net Interest Income After Provision for Credit Losses	35,784	
 	30,660	 	2,849	 	25,460	 	94,753	
 	
Noninterest Income	22,376	
 	8,552	 	14,071	 	1,849	 	46,848	
 	
Noninterest Expense	(44,164	)	(21,577	)	(13,415	)	(1,591	)	(80,747	)	
Income Before Income Taxes	13,996	
 	17,635	 	3,505	 	25,718	 	60,854	
 	
Provision for Income Taxes	(5,178	)	(6,042	)	(1,297	)	(7,590	)	(20,107	)	
Net Income	8,818	
 	11,593	 	2,208	 	18,128	 	40,747	
 	
Total Assets as of June 30, 20121	$	3,344,319	
 	$	2,289,255	 	$	189,008	 	$	8,093,044	 	$	13,915,626	

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, 2013	 	 	 	 	 	 	 	 	 	
Net Interest Income	$	71,634	
 	 	$	58,426	
 	 	$	5,365	
 	 	$	40,475	
 	 	$	175,900	
 	
Provision for Credit Losses	4,035	
 	 	301	
 	 	(33	)	 	(4,303	)	 	—	
 	
Net Interest Income After Provision for Credit Losses	67,599	
 	 	58,125	
 	 	5,398	
 	 	44,778	
 	 	175,900	
 	
Noninterest Income	41,355	
 	 	18,517	
 	 	30,098	
 	 	5,849	
 	 	95,819	
 	
Noninterest Expense	(87,994	)	 	(44,895	)	 	(27,270	)	 	(5,409	)	 	(165,568	)	
Income Before Income Taxes	20,960	
 	 	31,747	
 	 	8,226	
 	 	45,218	
 	 	106,151	
 	
Provision for Income Taxes	(7,755	)	 	(10,849	)	 	(3,044	)	 	(10,760	)	 	(32,408	)	
Net Income	13,205	
 	 	20,898	
 	 	5,182	
 	 	34,458	
 	 	73,743	
 	
Total Assets as of June 30, 2013	$	3,283,634	
 	 	$	2,567,461	
 	 	$	188,871	
 	 	$	7,693,452	
 	 	$	13,733,418	

 	 	 	 	 	 	 	 	 	 	
Six Months Ended June 30, 20121	 	 	 	 	 	 	 	 	 	
Net Interest Income	$	79,303	
 	 	$	62,259	
 	 	$	6,483	
 	 	$	45,284	
 	 	$	193,329	
 	
Provision for Credit Losses	7,364	
 	 	(511	)	 	289	
 	 	(6,163	)	 	979	
 	
Net Interest Income After Provision for Credit Losses	71,939	
 	 	62,770	
 	 	6,194	
 	 	51,447	
 	 	192,350	
 	
Noninterest Income	41,916	
 	 	20,129	
 	 	27,741	
 	 	5,144	
 	 	94,930	
 	
Noninterest Expense	(88,776	)	 	(45,099	)	 	(28,177	)	 	(3,902	)	 	(165,954	)	
Income Before Income Taxes	25,079	
 	 	37,800	
 	 	5,758	
 	 	52,689	
 	 	121,326	
 	
Provision for Income Taxes	(9,279	)	 	(9,063	)	 	(2,130	)	 	(16,297	)	 	(36,769	)	
Net Income	15,800	
 	 	28,737	
 	 	3,628	
 	 	36,392	
 	 	84,557	
 	
Total Assets as of June 30, 20121	$	3,344,319	
 	 	$	2,289,255	
 	 	$	189,008	
 	 	$	8,093,044	
 	 	$	13,915,626	

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)	2013	
 	 	2013	 	2012	
 	 	2012	 	 	2012	 	 	
Quarterly Operating Results	 	 	 	 	 	 	 	 	 	
Interest Income	 	 	 	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	62,729	
 	 	$	62,820	 	$	64,627	
 	 	$	64,668	 	 	$	63,910	 	 	
   Income on Investment Securities	 	 	 	 	 	 	 	 	 	
      Available-for-Sale	15,073	
 	 	15,851	 	15,349	
 	 	15,922	 	 	16,988	 	 	
      Held-to-Maturity	19,189	
 	 	19,854	 	20,253	
 	 	23,232	 	 	25,054	 	 	
   Deposits	1	
 	 	3	 	3	
 	 	3	 	 	1	 	 	
   Funds Sold	74	
 	 	59	 	180	
 	 	105	 	 	119	 	 	
   Other	285	
 	 	284	 	283	
 	 	283	 	 	281	 	 	
Total Interest Income	97,351	
 	 	98,871	 	100,695	
 	 	104,213	 	 	106,353	 	 	
Interest Expense	 	 	 	 	 	 	 	 	 	
   Deposits	2,579	
 	 	2,646	 	2,753	
 	 	2,931	 	 	3,219	 	 	
   Securities Sold Under Agreements to Repurchase	6,751	
 	 	7,005	 	7,158	
 	 	7,185	 	 	7,250	 	 	
   Funds Purchased	10	
 	 	22	 	4	
 	 	7	 	 	5	 	 	
   Long-Term Debt	671	
 	 	638	 	470	
 	 	458	 	 	498	 	 	
Total Interest Expense	10,011	
 	 	10,311	 	10,385	
 	 	10,581	 	 	10,972	 	 	
Net Interest Income	87,340	
 	 	88,560	 	90,310	
 	 	93,632	 	 	95,381	 	 	
Provision for Credit Losses	—	
 	 	—	 	—	
 	 	—	 	 	628	 	 	
Net Interest Income After Provision for Credit Losses	87,340	
 	 	88,560	 	90,310	
 	 	93,632	 	 	94,753	 	 	
Noninterest Income	 	 	 	 	 	 	 	 	 	
   Trust and Asset Management	12,089	
 	 	11,886	 	12,066	
 	 	11,050	 	 	11,195	 	 	
   Mortgage Banking	5,820	
 	 	6,411	 	11,268	
 	 	11,745	 	 	7,581	 	 	
   Service Charges on Deposit Accounts	9,112	
 	 	9,301	 	9,459	
 	 	9,346	 	 	9,225	 	 	
   Fees, Exchange, and Other Service Charges	13,133	
 	 	11,934	 	12,333	
 	 	11,907	 	 	12,326	 	 	
   Investment Securities Gains, Net	—	
 	 	—	 	—	
 	 	13	 	 	—	 	 	
   Insurance	2,393	
 	 	2,325	 	2,550	
 	 	2,326	 	 	2,399	 	 	
   Bank-Owned Life Insurance	1,335	
 	 	1,297	 	1,557	
 	 	2,028	 	 	1,739	 	 	
   Other	4,159	
 	 	4,624	 	3,749	
 	 	3,959	 	 	2,383	 	 	
Total Noninterest Income	48,041	
 	 	47,778	 	52,982	
 	 	52,374	 	 	46,848	 	 	
Noninterest Expense	 	 	 	 	 	 	 	 	 	
   Salaries and Benefits	45,341	
 	 	48,675	 	46,116	
 	 	47,231	 	 	44,037	 	 	
   Net Occupancy	9,661	
 	 	9,635	 	11,867	
 	 	10,524	 	 	10,058	 	 	
   Net Equipment	4,380	
 	 	4,577	 	4,705	
 	 	4,523	 	 	4,669	 	 	
   Data Processing	3,050	
 	 	3,266	 	3,058	
 	 	3,397	 	 	3,160	 	 	
   Professional Fees	2,391	
 	 	2,226	 	2,611	
 	 	2,494	 	 	2,386	 	 	
   FDIC Insurance	1,949	
 	 	1,949	 	1,892	
 	 	1,822	 	 	2,088	 	 	
   Other	14,409	
 	 	14,059	 	13,207	
 	 	14,887	 	 	14,349	 	 	
Total Noninterest Expense	81,181	
 	 	84,387	 	83,456	
 	 	84,878	 	 	80,747	 	 	
Income Before Provision for Income Taxes	54,200	
 	 	51,951	 	59,836	
 	 	61,128	 	 	60,854	 	 	
Provision for Income Taxes	16,437	
 	 	15,971	 	19,549	
 	 	19,896	 	 	20,107	 	 	
Net Income	$	37,763	
 	 	$	35,980	 	$	40,287	
 	 	$	41,232	 	 	$	40,747	 	 	
 	 	 	 	 	 	 	 	 	 	
Basic Earnings Per Share	$	0.85	
 	 	$	0.81	 	$	0.90	
 	 	$	0.92	 	 	$	0.90	 	 	
Diluted Earnings Per Share	$	0.85	
 	 	$	0.81	 	$	0.90	
 	 	$	0.92	 	 	$	0.90	 	 	
 	 	 	 	 	 	 	 	 	 	
Balance Sheet Totals	 	 	 	 	 	 	 	 	 	
Loans and Leases	$	5,859,152	
 	 	$	5,782,969	 	$	5,854,521	
 	 	$	5,782,304	 	 	$	5,671,483	 	 	
Total Assets	13,733,418	
 	 	13,525,667	 	13,728,372	
 	 	13,382,425	 	 	13,915,626	 	 	
Total Deposits	11,449,198	
 	 	11,251,860	 	11,529,482	
 	 	11,220,547	 	 	11,547,993	 	 	
Total Shareholders' Equity	986,368	
 	 	1,026,104	 	1,021,665	
 	 	1,024,562	 	 	1,003,825	 	 	
 	 	 	 	 	 	 	 	 	 	
Performance Ratios	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.12	
 	%	1.08	%	1.19	
 	%	1.22	 	%	1.19	 	%	
Return on Average Shareholders' Equity	14.64	
 	 	14.10	 	15.47	
 	 	16.02	 	 	16.19	 	 	
Efficiency Ratio 1	59.96	
 	 	61.90	 	58.24	
 	 	58.13	 	 	56.77	 	 	
Net Interest Margin 2	2.77	
 	 	2.82	 	2.87	
 	 	2.98	 	 	2.98	 	 	
 	 	 	 	 	 	 	 	 	 	
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, 2013	 	December 31, 2012	 	December 31, 2011	 	
Hawaii Economic Trends	 	 	 	 	 	 	 	 	 	 	 	
   State General Fund Revenues 1	$	2,364.1	 	7.7	 	%	$	5,259.1	 	 	12.8	
 	%	$	4,662.5	 	 	8.1	
 	%	
   General Excise and Use Tax Revenue 1	$	1,282.8	 	7.7	 	%	$	2,844.7	 	 	9.9	
 	%	$	2,588.5	 	 	8.8	
 	%	
   Jobs 2	615.8	 	 	 	619.3	 	 	 	 	614.2	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
 	 	June 30,	 	 	March 31,	 	 	        December 31,	 	
(spot rates)	 	2013	 	 	2013	 	 	2012	
 	 	2011	 	 	2010	
 	 	
Unemployment 3	 	 	 	 	 	 	 	 	 	 	 	
  Statewide, seasonally adjusted	 	4.6	 	%	5.1	 	%	5.2	
 	%	6.2	 	%	6.3	
 	%	
 	 	 	 	 	 	 	 	 	 	 	 	
   Oahu	 	4.7	 	 	4.6	 	 	4.3	
 	 	5.4	 	 	4.8	
 	 	
   Island of Hawaii	 	7.5	 	 	7.6	 	 	6.9	
 	 	8.9	 	 	8.6	
 	 	
   Maui	 	5.4	 	 	5.7	 	 	5.2	
 	 	7.1	 	 	7.4	
 	 	
   Kauai	 	5.9	 	 	6.4	 	 	6.0	
 	 	7.8	 	 	7.8	

 	 	June 30,	 	 	March 31,	 	 	         December 31,	 	
(percentage change, except months of inventory)	2013	 	 	2013	 	 	2012	
 	 	2011	 	 	2010	
 	 	
Housing Trends (Single Family Oahu)4	 	 	 	 	 	 	 	 	 	 	 	
   Median Home Price	 	0.8	 	%	(2.7	)	%	7.8	
 	%	(3.0	)	%	3.1	
 	%	
   Home Sales Volume (units)	 	11.6	 	%	6.9	 	%	6.5	
 	%	(2.7	)	%	13.4	
 	%	
   Months of Inventory	 	2.7	 	 	2.4	 	 	2.5	
 	 	4.8	 	 	6.0	

 	 	 	 	Monthly Visitor Arrivals,	 	 	Percentage Change	 	 	
(in thousands)	 	 	 	Seasonally Adjusted	 	 	from Previous Month	 	 	
Tourism5	 	 	 	 	 	 	 	 	 	 	 	
May 31, 2013	 	 	 	 	 	678.3	
 	 	 	 	2.4	
 	%	
April 30, 2013	 	 	 	 	 	662.1	
 	 	 	 	(5.4	)	 	
March 31, 2013	 	 	 	 	 	699.9	
 	 	 	 	4.1	
 	 	
February 28, 2013	 	 	 	 	 	672.5	
 	 	 	 	(0.2	)	 	
January 31, 2013	 	 	 	 	 	673.5	
 	 	 	 	(0.4	)	 	
December 30, 2012	 	 	 	 	 	676.0	
 	 	 	 	(2.6	)	 	
November 30, 2012	 	 	 	 	 	693.7	
 	 	 	 	5.5	
 	 	
October 31, 2012	 	 	 	 	 	657.4	
 	 	 	 	0.6	
 	 	
September 30, 2012	 	 	 	 	 	653.2	
 	 	 	 	(0.4	)	 	
August 31, 2012	 	 	 	 	 	656.1	
 	 	 	 	3.1	
 	 	
July 31, 2012	 	 	 	 	 	636.4	
 	 	 	 	(2.7	)	 	
June 30, 2012	 	 	 	 	 	653.9	
 	 	 	 	0.7	
 	 	
May 30, 2012	 	 	 	 	 	649.3	
 	 	 	 	1.5	
 	 	
April 30, 2012	 	 	 	 	 	639.5	
 	 	 	 	(2.0	)	 	
March 31, 2012	 	 	 	 	 	652.4	
 	 	 	 	3.4	
 	 	
February 29, 2012	 	 	 	 	 	631.2	
 	 	 	 	(1.1	)	 	
January 31, 2012	 	 	 	 	 	638.2	
 	 	 	 	1.6	
 	 	
December 31, 2011	 	 	 	 	 	628.3	
 	 	 	 	2.0	
 	 	
November 30, 2011	 	 	 	 	 	616.3	
 	 	 	 	0.9	
 	 	
October 31, 2011	 	 	 	 	 	610.8	
 	 	 	 	(1.7	)	 	
September 30, 2011	 	 	 	 	 	621.6	
 	 	 	 	5.5	
 	 	
August 31, 2011	 	 	 	 	 	589.1	
 	 	 	 	0.4	
 	 	
July 31, 2011	 	 	 	 	 	586.8	
 	 	 	 	1.3	
 	 	
June 30, 2011	 	 	 	 	 	579.3	
 	 	 	 	0.5	
 	 	
May 31, 2011	 	 	 	 	 	576.6	
 	 	 	 	(1.5	)	 	
 	 	 	 	 	 	 	 	 	 	 	 	
1 Source: Hawaii Department of Business, Economic Development & Tourism	 	 	 	 	 	 	 	
2 Source: U. S. Bureau of Labor, preliminary figure	 	 	 	 	 	 	 	 	 	 	
3 Source: Hawaii Department of Labor and Industrial Relations	 	 	 	 	 	 	 	 	 	
4 Source: Honolulu Board of REALTORS	 	 	 	 	 	 	 	 	 	 	 	
5 Source: University of Hawaii Economic Research Organization	 	 	 	 	 	 	 	 	 	
  Note: Certain prior period seasonally adjusted information has been revised.