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)	 	                             October 28, 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 October 28, 2013, Bank of Hawaii Corporation announced its results of operations for the quarter ended September 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           October 28, 2013 Press Release: Bank of Hawaii Corporation Third 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: October 28, 2013	Bank of Hawaii Corporation	

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

 	

 	 	

Bank of Hawaii Corporation Third Quarter 2013 Financial Results

•Diluted Earnings Per Share $0.85
•Net Income $37.7 Million
•Board of Directors Declares Dividend of $0.45 Per Share

FOR IMMEDIATE RELEASE

HONOLULU, HI (October 28, 2013) -- Bank of Hawaii Corporation (NYSE: BOH) today reported diluted earnings per share of $0.85 for the third quarter of 2013, unchanged from the previous quarter, and down from $0.92 in the same quarter last year. Net income for the third quarter of 2013 was $37.7 million compared with net income of $37.8 million in the second quarter of 2013 and net income of $41.2 million in the third quarter of 2012.

“Bank of Hawaii Corporation continued to perform well during the third quarter of 2013,” said Peter Ho, Chairman, President and CEO.  “Our loan balances grew 3 percent from the second quarter and 4 percent from the third quarter last year.  Consumer and commercial deposit balances grew 2 percent from the previous quarter and 6 percent from the same quarter from last year.  The Hawaii economy is benefitting from a continued strong visitor industry and growing construction activity. Expenses remained well controlled as did credit costs. Importantly, the steepening yield curve is beginning to have a positive impact on our net interest income and net interest margin.”
 
The return on average assets for the third quarter of 2013 was 1.09 percent, down from 1.12 percent in the previous quarter and 1.22 percent during the same quarter last year. The return on average equity for the third quarter of 2013 was 15.02 percent, up from 14.64 percent for the second quarter of 2013 and down from 16.02 percent in the third quarter of 2012.

For the nine-month period ended September 30, 2013, net income was $111.4 million, down from net income of $125.8 million for the same period last year. Diluted earnings per share were $2.50 for the nine-month period in 2013 compared with diluted earnings per share of $2.77 for the same period in 2012. The year-to-date return on average assets was 1.09 percent compared with 1.23 percent for the same period in 2012. The year-to-date return on average equity was 14.59 percent compared with 16.49 percent for the nine months ended September 30, 2012.

- more -

Bank of Hawaii Corporation Third Quarter 2013 Financial Results Page 2

Financial Highlights

Net interest income, on a taxable equivalent basis, for the third quarter of 2013 was $93.5 million, up $3.7 million from net interest income of $89.8 million in the second quarter of 2013 and down $2.7 million from net interest income of $96.2 million in the third quarter of 2012. Net interest income for the nine-month period in 2013 was $274.3 million compared with net interest income of $294.0 million for the same period in 2012. Analyses of the changes in net interest income are included in Tables 8a, 8b, and 8c.

The net interest margin was 2.83 percent for the third quarter of 2013, a 6 basis point increase from the net interest margin of 2.77 percent in the second quarter of 2013 and a 15 basis point decrease from the net interest margin of 2.98 percent in the third quarter of 2012. The net interest margin for the first nine months of 2013 was 2.81 percent compared with 3.01 percent for the same nine-month period last year.

Noninterest income was $45.1 million in the third quarter of 2013, a decrease of $2.9 million compared with noninterest income of $48.0 million in the second quarter of 2013, and a decrease of $7.2 million compared with noninterest income of $52.4 million in the third quarter of 2012. Noninterest income included mortgage banking revenue of $4.1 million in the third quarter of 2013 compared with $5.8 million in the previous quarter and $11.7 million in the same quarter last year. Noninterest income for the nine-months ended September 30, 2013 was $140.9 million, a decrease of $6.4 million compared with noninterest income of $147.3 million for the same period in 2012.

Noninterest expense was $83.0 million in the third quarter of 2013, an increase of $1.8 million compared with noninterest expense of $81.2 million in the second quarter of 2013, and a decrease of $1.9 million compared with noninterest expense of $84.9 million in the third quarter last year. Noninterest expense in the third quarter of 2013 included separation expense of $1.8 million. Separation expenses were $0.9 million in the second quarter of 2013 and $1.0 million in the same quarter last year. The components of salaries and benefits are presented in Table 9. Noninterest expense for the nine-months ended September 30, 2013 was $248.5 million, a decrease of $2.3 million compared with noninterest expense of $250.8 million for the same period in 2012.

The efficiency ratio for the third quarter of 2013 was 61.01 percent, up from 59.96 percent in the previous quarter and 58.13 percent in the same quarter last year. The efficiency ratio for the nine-month period ended September 30, 2013 was 60.96 percent, up from 57.76 percent for the same period last year.

The effective tax rate for the third quarter of 2013 was 28.91 percent compared with 30.33 percent in the previous quarter and 32.55 percent during the same quarter last year. The effective tax rate for the nine-month period ended September 30, 2013 was 29.99 percent compared to 31.06 percent for the same period last year. The lower effective tax rates during 2013 were 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.

- more -

      
Bank of Hawaii Corporation Third Quarter 2013 Financial Results Page 3

Asset Quality

The Company’s asset quality was stable during the third quarter of 2013. Total non-performing assets were $33.8 million at September 30, 2013, down from $36.4 million at June 30, 2013 and $40.3 million at September 30, 2012. Non-performing assets continue to remain above historical levels due to the lengthy judicial foreclosure process for residential mortgage loans. Non-performing assets, as a percentage of total loans and leases and foreclosed real estate, were 0.56 percent at September 30, 2013, down from 0.62 percent at June 30, 2013 and 0.70 percent at September 30, 2012.
Accruing loans and leases past due 90 days or more were $11.4 million at September 30, 2013, up from $10.6 million at June 30, 2013 and $7.5 million at September 30, 2012. The increase in consumer delinquencies was largely due to residential mortgage loans 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 $39.8 million at September 30, 2013. Restructured loans and leases are 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 third quarter of 2013 were $0.9 million or 0.06 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 $3.8 million. Net charge-offs during the second quarter of 2013 were $2.3 million, or 0.16 percent annualized of total average loans and leases outstanding, and were comprised of $4.7 million in charge-offs partially offset by recoveries of $2.4 million. Net charge-offs in the third quarter of 2012 were $1.5 million or 0.10 percent annualized of total average loans and leases outstanding, and were comprised of $5.0 million in charge-offs partially offset by recoveries of $3.6 million. Net charge-offs in the nine-month period ended September 30, 2013 were $5.2 million, or 0.12 percent annualized of total average loans and leases outstanding compared with net charge-offs of $8.6 million, or 0.20 percent annualized of total average loans and leases outstanding for the same period in 2012.

The allowance for loan and lease losses was reduced to $123.7 million at September 30, 2013. The ratio of the allowance for loan and lease losses to loans and leases outstanding was 2.06 percent at September 30, 2013, a decrease of 7 basis points from June 30, 2013. The reserve for unfunded commitments at September 30, 2013 was $6.1 million, an increase of $0.1 million from June 30, 2013 and $0.6 million from September 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.

Other Financial Highlights

Total assets were $13.85 billion at September 30, 2013, an increase from total assets of $13.73 billion at June 30, 2013 and total assets of $13.38 billion at September 30, 2012. Average assets were $13.77 billion during the third quarter of 2013, up from average assets of $13.57 billion during the previous quarter and average assets of $13.49 billion during the same quarter last year.

- more -

      
Bank of Hawaii Corporation Third Quarter 2013 Financial Results Page 4

The total investment securities portfolio totaled $6.91 billion at September 30, 2013, an increase from total securities of $6.84 billion at June 30, 2013 and $6.60 billion at September 30, 2012. The portfolio remains largely comprised of securities issued by U.S. government agencies and includes $4.63 billion in securities held to maturity and $2.28 billion in securities available for sale. 

Total loans and leases were $6.01 billion at September 30, 2013, up from $5.86 billion at June 30, 2013 and $5.78 billion at September 30, 2012. The commercial loan portfolio was $2.48 billion at the end of the third quarter of 2013, up from commercial loans of $2.40 billion at the end of the second quarter of 2013 and $2.23 billion at the end of the same quarter last year. Consumer loans were $3.53 billion at September 30, 2013, up from consumer loans of $3.46 billion at the end of the second quarter of 2013, and down slightly from $3.55 billion at the end of the third quarter last year. Average total loans and leases were $5.89 billion during the third quarter of 2013, up from $5.78 billion during the previous quarter and $5.72 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 $11.61 billion at September 30, 2013, an increase from total deposits of $11.45 billion at June 30, 2013 and $11.22 billion at September 30, 2012 due to continued growth in consumer and commercial deposits. Average total deposits were $11.48 billion in the third quarter of 2013, up from average deposits of $11.24 billion during the previous quarter, and up from average deposits of $11.30 billion during the same quarter last year.

During the third quarter of 2013, the Company repurchased 164.5 thousand shares of common stock at a total cost of $8.9 million under its share repurchase program. The average cost was $54.18 per share repurchased. From the beginning of the share repurchase program initiated during July 2001 through September 30, 2013, the Company has repurchased 50.8 million shares and returned $1.86 billion to shareholders at an average cost of $36.50 per share. The remaining buyback authority under the share repurchase program was $39.0 million at September 30, 2013. From October 1 through October 25, 2013, the Company repurchased an additional 19.0 thousand shares of common stock at an average cost of $55.31 per share.

Total shareholders’ equity was $0.99 billion at September 30, 2013, up slightly from June 30, 2013 and down from $1.02 billion at September 30, 2012. The ratio of tangible common equity to risk-weighted assets was 15.43 percent at the end of the third quarter of 2013, compared with 15.65 percent at the end of the second quarter of 2013, and 17.43 percent at the end of the same quarter last year. The Tier 1 leverage ratio at September 30, 2013 was 6.95 percent, unchanged from June 30, 2013 and up from 6.78 percent at September 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 December 13, 2013 to shareholders of record at the close of business on November 29, 2013.

Hawaii Economy

General economic conditions in Hawaii continued to improve during the third quarter of 2013, led by a strong tourism industry, relatively low unemployment, and rising real estate prices. For the first eight months of 2013, total visitor arrivals and visitor spending both increased by 5.1%

- more -

Bank of Hawaii Corporation Third Quarter 2013 Financial Results Page 5

compared to the same period in 2012. We continue to experience strong visitor spending growth from U.S. Mainland visitors. The statewide seasonally-adjusted unemployment rate was at 4.3% in August 2013, compared to 7.3% nationally. For the first nine months of 2013, the volume of single-family home sales on Oahu was 7.0% higher compared to the same period in 2012 while the volume of condominium sales on Oahu was 16.5% higher compared to the same period in 2012. The median price of single-family home sales on Oahu was 3.3% higher for the first nine months of 2013 compared to same period in 2012, while the median price of condominium sales on Oahu was 5.4% higher compared to the same period in 2012. As of September 30, 2013, months of inventory of single-family homes and condominiums on Oahu remained low at approximately 2.8 months and 3.0 months, respectively.

Conference Call Information

The Company will review its third 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 website,  www.boh.com . Conference call participants located in the United States or Canada should dial 1 (800) 447-0521. All other international call participants should dial 1 (847) 413-3238. Use the pass code “Bank of Hawaii” to access the call. A replay will be available for one week beginning Monday, October 28, 2013 by calling 1 (888) 843-7419 in the United States or Canada and 1 (630) 652-3042 from other international locations and entering the pass code number 35825438# when prompted. A replay will also be available via the Investor Relations link on the Company’s website.

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	 	Nine Months Ended	 	
 	September 30,	 	 	June 30,	 	 	September 30,	 	 	September 30,	 	
(dollars in thousands, except per share amounts)	2013	 	 	2013	 	 	2012	 	 	2013	 	 	2012	
 	 	
For the Period:	 	 	 	 	 	 	 	 	 	 	
Operating Results	 	 	 	 	 	 	 	 	 	 	
Net Interest Income	$	90,887	 	 	$	87,340	 	 	$	93,632	 	 	$	266,787	 	 	$	286,961	
 	 	
Provision for Credit Losses	—	 	 	—	 	 	—	 	 	—	 	 	979	
 	 	
Total Noninterest Income	45,126	 	 	48,041	 	 	52,374	 	 	140,945	 	 	147,304	
 	 	
Total Noninterest Expense	82,977	 	 	81,181	 	 	84,878	 	 	248,545	 	 	250,832	
 	 	
Net Income	37,704	 	 	37,763	 	 	41,232	 	 	111,447	 	 	125,789	
 	 	
Basic Earnings Per Share	0.85	 	 	0.85	 	 	0.92	 	 	2.51	 	 	2.78	
 	 	
Diluted Earnings Per Share	0.85	 	 	0.85	 	 	0.92	 	 	2.50	 	 	2.77	
 	 	
Dividends Declared Per Share	0.45	 	 	0.45	 	 	0.45	 	 	1.35	 	 	1.35	

Performance Ratios	 	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.09	 	%	1.12	 	%	1.22	 	%	1.09	 	%	1.23	
 	%	
Return on Average Shareholders' Equity	15.02	 	 	14.64	 	 	16.02	 	 	14.59	 	 	16.49	
 	 	
Efficiency Ratio 1	61.01	 	 	59.96	 	 	58.13	 	 	60.96	 	 	57.76	
 	 	
Net Interest Margin 2	2.83	 	 	2.77	 	 	2.98	 	 	2.81	 	 	3.01	
 	 	
Dividend Payout Ratio 3	52.94	 	 	52.94	 	 	48.91	 	 	53.78	 	 	48.56	
 	 	
Average Shareholders' Equity to Average Assets	7.23	 	 	7.62	 	 	7.59	 	 	7.49	 	 	7.47	

Average Balances	 	 	 	 	 	 	 	 	 	 	
Average Loans and Leases	$	5,892,888	 	 	$	5,781,898	 	 	$	5,716,421	 	 	$	5,826,424	 	 	$	5,640,733	
 	 	
Average Assets	13,769,699	 	 	13,572,329	 	 	13,490,835	 	 	13,633,907	 	 	13,640,304	
 	 	
Average Deposits	11,479,185	 	 	11,244,600	 	 	11,301,668	 	 	11,337,792	 	 	10,786,654	
 	 	
Average Shareholders' Equity	995,661	 	 	1,034,366	 	 	1,023,804	 	 	1,021,480	 	 	1,018,903	

Per Share of Common Stock	 	 	 	 	 	 	 	 	 	 	
Book Value	$	22.29	 	 	$	22.09	 	 	$	22.77	 	 	$	22.29	 	 	$	22.77	
 	 	
Market Value	 	 	 	 	 	 	 	 	 	 	
   Closing	54.45	 	 	50.32	 	 	45.62	 	 	54.45	 	 	45.62	
 	 	
   High	57.13	 	 	52.17	 	 	48.92	 	 	57.13	 	 	49.99	
 	 	
   Low	50.50	 	 	46.04	 	 	45.29	 	 	44.88	 	 	44.02	

 	 	 	September 30,	 	 	June 30,	 	 	December 31,	 	 	September 30,	
 	 	
 	 	 	2013	 	 	2013	 	 	2012	 	 	2012	
 	 	
As of Period End:	 	 	 	 	 	 	 	 	 	 	
Balance Sheet Totals	 	 	 	 	 	 	 	 	 	 	
Loans and Leases	 	 	$	6,006,642	 	 	$	5,859,152	 	 	$	5,854,521	 	 	$	5,782,304	
 	 	
Total Assets	 	 	13,848,871	 	 	13,733,418	 	 	13,728,372	 	 	13,382,425	
 	 	
Total Deposits	 	 	11,608,134	 	 	11,449,198	 	 	11,529,482	 	 	11,220,547	
 	 	
Long-Term Debt	 	 	174,717	 	 	174,727	 	 	128,055	 	 	28,065	
 	 	
Total Shareholders' Equity	 	 	992,686	 	 	986,368	 	 	1,021,665	 	 	1,024,562	

Asset Quality	 	 	 	 	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	 	 	$	123,680	 	 	$	124,575	 	 	$	128,857	 	 	$	130,971	
 	 	
Non-Performing Assets	 	 	33,832	 	 	36,431	 	 	37,083	 	 	40,284	

Financial Ratios	 	 	 	 	 	 	 	 	 	 	
Allowance to Loans and Leases Outstanding	 	 	2.06	 	%	2.13	 	%	2.20	 	%	2.27	
 	%	
Tier 1 Capital Ratio	 	 	15.42	 	 	15.53	 	 	16.13	 	 	16.12	
 	 	
Total Capital Ratio	 	 	16.68	 	 	16.79	 	 	17.39	 	 	17.39	
 	 	
Tier 1 Leverage Ratio	 	 	6.95	 	 	6.95	 	 	6.83	 	 	6.78	
 	 	
Total Shareholders' Equity to Total Assets	 	 	7.17	 	 	7.18	 	 	7.44	 	 	7.66	
 	 	
Tangible Common Equity to Tangible Assets 4	 	 	6.96	 	 	6.97	 	 	7.23	 	 	7.44	
 	 	
Tangible Common Equity to Risk-Weighted Assets 4	15.43	 	 	15.65	 	 	17.24	 	 	17.43	
 	 	
Non-Financial Data	 	 	 	 	 	 	 	 	 	 	
Full-Time Equivalent Employees	 	 	2,205	 	 	2,227	 	 	2,276	 	 	2,304	
 	 	
Branches and Offices	 	 	74	 	 	75	 	 	76	 	 	77	
 	 	
ATMs	 	 	468	 	 	486	 	 	494	 	 	495	

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	
 	
 	 	 	September 30,	
 	 	June 30,	
 	 	December 31,	
 	 	September 30,	
 	
(dollars in thousands)	2013	
 	 	2013	
 	 	2012	
 	 	2012	

Total Shareholders' Equity	$	992,686	
 	 	$	986,368	
 	 	$	1,021,665	
 	 	$	1,024,562	
 	
Less:	Goodwill	31,517	
 	 	31,517	
 	 	31,517	
 	 	31,517	
 	
 	Intangible Assets	—	
 	 	8	
 	 	33	
 	 	46	
 	
Tangible Common Equity	$	961,169	
 	 	$	954,843	
 	 	$	990,115	
 	 	$	992,999	

Total Assets	$	13,848,871	
 	 	$	13,733,418	
 	 	$	13,728,372	
 	 	$	13,382,425	
 	
Less:	Goodwill	31,517	
 	 	31,517	
 	 	31,517	
 	 	31,517	
 	
 	Intangible Assets	—	
 	 	8	
 	 	33	
 	 	46	
 	
Tangible Assets	$	13,817,354	
 	 	$	13,701,893	
 	 	$	13,696,822	
 	 	$	13,350,862	

Risk-Weighted Assets, determined in accordance	 	 	 	 	 	 	 	
   with prescribed regulatory requirements	$	6,228,293	
 	 	$	6,099,770	
 	 	$	5,744,722	
 	 	$	5,697,581	

Total Shareholders' Equity to Total Assets	7.17	%	 	7.18	%	 	7.44	%	 	7.66	%	
Tangible Common Equity to Tangible Assets (Non-GAAP)	6.96	%	 	6.97	%	 	7.23	%	 	7.44	%	
 	 	 	 	 	 	 	 	 	 	
Tier 1 Capital Ratio	15.42	%	 	15.53	%	 	16.13	%	 	16.12	%	
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP)	15.43	%	 	15.65	%	 	17.24	%	 	17.43	%	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	
Net Significant Items	 	 	 	 	 	Table 2	
 	
 	Three Months Ended	 	Nine Months Ended	
 	September 30,	
 	June 30,	 	September 30,	 	 	September 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	896	
 	2,303	 	1,472	 	 	5,178	
 	7,635	 	
Separation Expense	(1,753	)	(864	)	(1,016	)	 	(4,092	)	(1,838	)	
PC Refresh	—	
 	—	 	—	 	 	—	
 	(1,163	)	
Significant Items Before the Provision (Benefit)	 	 	 	 	 	 	
     for Income Taxes	(857	)	1,439	 	456	 	 	1,086	
 	7,107	 	
Income Taxes Impact Related to Lease Transactions	—	
 	—	 	—	 	 	—	
 	(2,733	)	
Release of Tax Reserve	(1,267	)	(1,090	)	—	 	 	(2,357	)	—	 	
Income Tax Impact	(300	)	504	 	159	 	 	380	
 	1,271	 	
Net Significant Items	$	710	
 	$	2,025	 	$	297	 	 	$	3,063	
 	$	8,569	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Consolidated Statements of Income	 	 	 	 	 	Table 3	
 	
 	Three Months Ended	 	Nine Months Ended	
 	September 30,	
 	June 30,	 	September 30,	 	 	September 30,	
(dollars in thousands, except per share amounts)	2013	
 	2013	 	2012	 	 	2013	
 	2012	 	
Interest Income	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	63,918	
 	$	62,729	 	$	64,668	 	 	$	189,467	
 	$	193,269	 	
   Income on Investment Securities	 	 	 	 	 	 	
      Available-for-Sale	12,038	
 	15,073	 	15,922	 	 	42,962	
 	50,623	 	
      Held-to-Maturity	24,137	
 	19,189	 	23,232	 	 	63,180	
 	74,699	 	
   Deposits	3	
 	1	 	3	 	 	7	
 	6	 	
   Funds Sold	177	
 	74	 	105	 	 	310	
 	353	 	
   Other	301	
 	285	 	283	 	 	870	
 	844	 	
Total Interest Income	100,574	
 	97,351	 	104,213	 	 	296,796	
 	319,794	 	
Interest Expense	 	 	 	 	 	 	
   Deposits	2,500	
 	2,579	 	2,931	 	 	7,725	
 	9,623	 	
   Securities Sold Under Agreements to Repurchase	6,551	
 	6,751	 	7,185	 	 	20,307	
 	21,739	 	
   Funds Purchased	4	
 	10	 	7	 	 	36	
 	17	 	
   Long-Term Debt	632	
 	671	 	458	 	 	1,941	
 	1,454	 	
Total Interest Expense	9,687	
 	10,011	 	10,581	 	 	30,009	
 	32,833	 	
Net Interest Income	90,887	
 	87,340	 	93,632	 	 	266,787	
 	286,961	 	
Provision for Credit Losses	—	
 	—	 	—	 	 	—	
 	979	 	
Net Interest Income After Provision for Credit Losses	90,887	
 	87,340	 	93,632	 	 	266,787	
 	285,982	 	
Noninterest Income	 	 	 	 	 	 	
   Trust and Asset Management	11,717	
 	12,089	 	11,050	 	 	35,692	
 	33,163	 	
   Mortgage Banking	4,132	
 	5,820	 	11,745	 	 	16,363	
 	24,376	 	
   Service Charges on Deposit Accounts	9,385	
 	9,112	 	9,346	 	 	27,798	
 	28,162	 	
   Fees, Exchange, and Other Service Charges	12,732	
 	13,133	 	11,907	 	 	37,799	
 	36,632	 	
   Investment Securities Gains (Losses), Net	—	
 	—	 	13	 	 	—	
 	(77	)	
   Insurance	2,177	
 	2,393	 	2,326	 	 	6,895	
 	7,003	 	
   Bank-Owned Life Insurance	1,365	
 	1,335	 	2,028	 	 	3,997	
 	5,248	 	
   Other	3,618	
 	4,159	 	3,959	 	 	12,401	
 	12,797	 	
Total Noninterest Income	45,126	
 	48,041	 	52,374	 	 	140,945	
 	147,304	 	
Noninterest Expense	 	 	 	 	 	 	
   Salaries and Benefits	46,552	
 	45,341	 	47,231	 	 	140,568	
 	138,292	 	
   Net Occupancy	9,847	
 	9,661	 	10,524	 	 	29,143	
 	31,098	 	
   Net Equipment	4,572	
 	4,380	 	4,523	 	 	13,529	
 	15,018	 	
   Data Processing	3,697	
 	3,050	 	3,397	 	 	10,013	
 	10,144	 	
   Professional Fees	2,119	
 	2,391	 	2,494	 	 	6,736	
 	7,012	 	
   FDIC Insurance	1,913	
 	1,949	 	1,822	 	 	5,811	
 	5,981	 	
   Other	14,277	
 	14,409	 	14,887	 	 	42,745	
 	43,287	 	
Total Noninterest Expense	82,977	
 	81,181	 	84,878	 	 	248,545	
 	250,832	 	
Income Before Provision for Income Taxes	53,036	
 	54,200	 	61,128	 	 	159,187	
 	182,454	 	
Provision for Income Taxes	15,332	
 	16,437	 	19,896	 	 	47,740	
 	56,665	 	
Net Income	$	37,704	
 	$	37,763	 	$	41,232	 	 	$	111,447	
 	$	125,789	 	
Basic Earnings Per Share	$	0.85	
 	$	0.85	 	$	0.92	 	 	$	2.51	
 	$	2.78	 	
Diluted Earnings Per Share	$	0.85	
 	$	0.85	 	$	0.92	 	 	$	2.50	
 	$	2.77	 	
Dividends Declared Per Share	$	0.45	
 	$	0.45	 	$	0.45	 	 	$	1.35	
 	$	1.35	 	
Basic Weighted Average Shares	44,267,356	
 	44,493,069	 	44,913,348	 	 	44,433,967	
 	45,280,541	 	
Diluted Weighted Average Shares	44,479,472	
 	44,608,497	 	45,050,638	 	 	44,588,777	
 	45,421,624	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Consolidated Statements of Comprehensive Income (Loss)	 	 	 	Table 4	 	
 	 	Three Months Ended	 	Nine Months Ended	
 	 	September 30,	 	June 30,	
 	September 30,	
 	 	September 30,	
(dollars in thousands)	2013	 	2013	
 	2012	
 	 	2013	
 	2012	
 	
Net Income	$	37,704	 	$	37,763	
 	$	41,232	
 	 	$	111,447	
 	$	125,789	
 	
Other Comprehensive Income (Loss), Net of Tax:	 	 	 	 	 	 	
 	Net Unrealized Gains (Losses) on Investment Securities	(6,986	)	(46,572	)	9,770	
 	 	(63,199	)	6,703	
 	
 	Defined Benefit Plans	202	 	201	
 	152	
 	 	481	
 	458	
 	
Total Other Comprehensive Income (Loss)	(6,784	)	(46,371	)	9,922	
 	 	(62,718	)	7,161	
 	
Comprehensive Income (Loss)	$	30,920	 	$	(8,608	)	$	51,154	
 	 	$	48,729	
 	$	132,950	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Consolidated Statements of Condition	 	 	 	Table 5	
 	
 	September 30,	
 	June 30,	 	December 31,	 	September 30,	 	
(dollars in thousands)	2013	
 	2013	 	2012	 	2012	 	
Assets	 	 	 	 	
Interest-Bearing Deposits	$	3,048	
 	$	4,635	 	$	3,393	 	$	4,673	 	
Funds Sold	254,940	
 	329,922	 	185,682	 	251,664	 	
Investment Securities	 	 	 	 	
   Available-for-Sale	2,277,136	
 	2,815,408	 	3,367,557	 	3,124,209	 	
   Held to Maturity (Fair Value of $4,621,491; $4,036,197;	 	 	 	 	
      $3,687,676; and $3,587,997)	4,633,399	
 	4,027,829	 	3,595,065	 	3,475,259	 	
Loans Held for Sale	18,795	
 	25,880	 	21,374	 	25,971	 	
Loans and Leases	6,006,642	
 	5,859,152	 	5,854,521	 	5,782,304	 	
   Allowance for Loan and Lease Losses	(123,680	)	(124,575	)	(128,857	)	(130,971	)	
     Net Loans and Leases	5,882,962	
 	5,734,577	 	5,725,664	 	5,651,333	 	
Total Earning Assets	13,070,280	
 	12,938,251	 	12,898,735	 	12,533,109	 	
Cash and Noninterest-Bearing Deposits	131,228	
 	136,386	 	163,786	 	153,599	 	
Premises and Equipment	105,181	
 	105,752	 	105,005	 	107,144	 	
Accrued Interest Receivable	46,047	
 	43,375	 	43,077	 	47,192	 	
Foreclosed Real Estate	3,036	
 	3,256	 	3,887	 	3,067	 	
Mortgage Servicing Rights	28,015	
 	27,631	 	25,240	 	23,980	 	
Goodwill	31,517	
 	31,517	 	31,517	 	31,517	 	
Other Assets	433,567	
 	447,250	 	457,125	 	482,817	 	
Total Assets	$	13,848,871	
 	$	13,733,418	 	$	13,728,372	 	$	13,382,425	 	
 	 	 	 	 	
Liabilities	 	 	 	 	
Deposits	 	 	 	 	
   Noninterest-Bearing Demand	$	3,524,638	
 	$	3,396,835	 	$	3,367,185	 	$	2,985,561	 	
   Interest-Bearing Demand	2,320,452	
 	2,269,196	 	2,163,473	 	2,034,319	 	
   Savings	4,503,963	
 	4,433,042	 	4,399,316	 	4,480,733	 	
   Time	1,259,081	
 	1,350,125	 	1,599,508	 	1,719,934	 	
Total Deposits	11,608,134	
 	11,449,198	 	11,529,482	 	11,220,547	 	
Funds Purchased	9,983	
 	9,983	 	11,296	 	10,942	 	
Securities Sold Under Agreements to Repurchase	847,239	
 	866,237	 	758,947	 	818,080	 	
Long-Term Debt	174,717	
 	174,727	 	128,055	 	28,065	 	
Retirement Benefits Payable	47,338	
 	47,318	 	47,658	 	41,872	 	
Accrued Interest Payable	6,040	
 	4,399	 	4,776	 	5,997	 	
Taxes Payable and Deferred Taxes	40,364	
 	48,947	 	88,014	 	94,369	 	
Other Liabilities	122,370	
 	146,241	 	138,479	 	137,991	 	
Total Liabilities	12,856,185	
 	12,747,050	 	12,706,707	 	12,357,863	 	
Shareholders' Equity	 	 	 	 	
Common Stock ($.01 par value; authorized 500,000,000 shares;	 	 	 	 	
   issued / outstanding: September 30, 2013 - 57,487,855 / 44,539,247;	 	 	 	 	
   June 30, 2013 - 57,488,745 / 44,644,596;	 	 	 	 	
   December 31, 2012 - 57,319,352 / 44,754,835;	 	 	 	 	
   and September 30, 2012 - 57,315,093 / 45,004,813)	572	
 	572	 	571	 	571	 	
Capital Surplus	520,510	
 	518,804	 	515,619	 	513,758	 	
Accumulated Other Comprehensive Income (Loss)	(33,510	)	(26,726	)	29,208	 	42,424	 	
Retained Earnings	1,132,996	
 	1,115,594	 	1,084,477	 	1,065,245	 	
Treasury Stock, at Cost (Shares: September 30, 2013 - 12,948,608;	 	 	 	 	
   June 30, 2013 - 12,844,149; December 31, 2012 - 12,564,517; and	 	 	 	 	
   September 30, 2012 - 12,310,280)	(627,882	)	(621,876	)	(608,210	)	(597,436	)	
Total Shareholders' Equity	992,686	
 	986,368	 	1,021,665	 	1,024,562	 	
Total Liabilities and Shareholders' Equity	$	13,848,871	
 	$	13,733,418	 	$	13,728,372	 	$	13,382,425	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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	—	
 	 	—	
 	 	—	
 	 	—	
 	 	111,447	
 	 	—	
 	 	111,447	
 	
Other Comprehensive Loss	—	
 	 	—	
 	 	—	
 	 	(62,718	)	 	—	
 	 	—	
 	 	(62,718	)	
Share-Based Compensation	—	
 	 	—	
 	 	4,226	
 	 	—	
 	 	—	
 	 	—	
 	 	4,226	
 	
Common Stock Issued under	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Purchase and Equity	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Compensation Plans	 	 	 	 	 	 	 	 	 	 	 	 	 	
   and Related Tax Benefits	444,951	
 	 	1	
 	 	665	
 	 	—	
 	 	(2,458	)	 	13,521	
 	 	11,729	
 	
Common Stock Repurchased	(660,539	)	 	—	
 	 	—	
 	 	—	
 	 	—	
 	 	(33,193	)	 	(33,193	)	
Cash Dividends Paid	 	 	 	 	 	 	 	 	 	 	 	 	 	
     ($1.35 per share)	—	
 	 	—	
 	 	—	
 	 	—	
 	 	(60,470	)	 	—	
 	 	(60,470	)	
Balance as of September 30, 2013	44,539,247	
 	 	$	572	
 	 	$	520,510	
 	 	$	(33,510	)	 	$	1,132,996	
 	 	$	(627,882	)	 	$	992,686	

Balance as of December 31, 2011	45,947,116	
 	 	$	571	
 	 	$	507,558	
 	 	$	35,263	
 	 	$	1,003,938	
 	 	$	(544,663	)	 	$	1,002,667	
 	
Net Income	—	
 	 	—	
 	 	—	
 	 	—	
 	 	125,789	
 	 	—	
 	 	125,789	
 	
Other Comprehensive Income	—	
 	 	—	
 	 	—	
 	 	7,161	
 	 	—	
 	 	—	
 	 	7,161	
 	
Share-Based Compensation	—	
 	 	—	
 	 	5,687	
 	 	—	
 	 	—	
 	 	—	
 	 	5,687	
 	
Common Stock Issued under	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Purchase and Equity	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Compensation Plans and	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Related Tax Benefits	471,104	
 	 	—	
 	 	513	
 	 	—	
 	 	(3,023	)	 	13,472	
 	 	10,962	
 	
Common Stock Repurchased	(1,413,407	)	 	—	
 	 	—	
 	 	—	
 	 	—	
 	 	(66,245	)	 	(66,245	)	
Cash Dividends Paid	 	 	 	 	 	 	 	 	 	 	 	 	 	
     ($1.35 per share)	—	
 	 	—	
 	 	—	
 	 	—	
 	 	(61,459	)	 	—	
 	 	(61,459	)	
Balance as of September 30, 2012	45,004,813	
 	 	$	571	
 	 	$	513,758	
 	 	$	42,424	
 	 	$	1,065,245	
 	 	$	(597,436	)	 	$	1,024,562	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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	 	
 	 	September 30, 2013	 	June 30, 2013	 	September 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	$	4.3	
 	$	—	
 	0.30	
 	%	$	4.5	
 	$	—	
 	0.06	
 	%	$	4.0	 	$	—	
 	0.33	
 	%	
Funds Sold	335.3	
 	0.2	
 	0.21	
 	 	168.3	
 	0.1	
 	0.18	
 	 	221.5	 	0.1	
 	0.19	
 	 	
Investment Securities	 	 	 	 	 	 	 	 	 	 	 	 	
 	Available-for-Sale	2,495.9	
 	13.7	
 	2.18	
 	 	3,212.2	
 	17.4	
 	2.17	
 	 	3,247.8	 	18.3	
 	2.26	
 	 	
 	Held-to-Maturity	4,385.5	
 	25.0	
 	2.28	
 	 	3,714.3	
 	19.2	
 	2.07	
 	 	3,617.3	 	23.2	
 	2.57	
 	 	
Loans Held for Sale	16.7	
 	0.2	
 	4.42	
 	 	22.9	
 	0.2	
 	3.87	
 	 	15.8	 	0.2	
 	4.32	
 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	877.3	
 	7.7	
 	3.49	
 	 	855.5	
 	7.8	
 	3.65	
 	 	797.2	 	7.7	
 	3.86	
 	 	
 	Commercial Mortgage	1,164.9	
 	12.1	
 	4.12	
 	 	1,114.8	
 	11.3	
 	4.08	
 	 	993.2	 	10.8	
 	4.32	
 	 	
 	Construction	120.1	
 	1.4	
 	4.71	
 	 	107.5	
 	1.2	
 	4.61	
 	 	100.1	 	1.3	
 	4.97	
 	 	
 	Commercial Lease Financing	253.0	
 	1.5	
 	2.32	
 	 	265.2	
 	1.6	
 	2.36	
 	 	278.5	 	1.7	
 	2.42	
 	 	
 	Residential Mortgage	2,255.9	
 	25.3	
 	4.49	
 	 	2,252.1	
 	25.5	
 	4.53	
 	 	2,391.8	 	28.1	
 	4.70	
 	 	
 	Home Equity	757.6	
 	7.9	
 	4.13	
 	 	752.9	
 	7.8	
 	4.15	
 	 	770.2	 	8.3	
 	4.28	
 	 	
 	Automobile	240.6	
 	3.3	
 	5.43	
 	 	225.0	
 	3.1	
 	5.51	
 	 	194.9	 	2.9	
 	5.90	
 	 	
 	Other 2	223.5	
 	4.6	
 	8.23	
 	 	208.9	
 	4.3	
 	8.22	
 	 	190.5	 	3.9	
 	8.09	
 	 	
Total Loans and Leases	5,892.9	
 	63.8	
 	4.31	
 	 	5,781.9	
 	62.6	
 	4.34	
 	 	5,716.4	 	64.7	
 	4.51	
 	 	
Other	78.1	
 	0.3	
 	1.54	
 	 	78.6	
 	0.3	
 	1.45	
 	 	80.1	 	0.3	
 	1.41	
 	 	
Total Earning Assets3	13,208.7	
 	103.2	
 	3.11	
 	 	12,982.7	
 	99.8	
 	3.08	
 	 	12,902.9	 	106.8	
 	3.30	
 	 	
Cash and Noninterest-Bearing Deposits	140.3	
 	 	 	 	136.8	
 	 	 	 	134.9	 	 	 	 	
Other Assets	420.7	
 	 	 	 	452.8	
 	 	 	 	453.0	 	 	 	 	
Total Assets	$	13,769.7	
 	 	 	 	$	13,572.3	
 	 	 	 	$	13,490.8	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	 	 	 	 	
 	Demand	$	2,147.8	
 	0.1	
 	0.03	
 	 	$	2,106.0	
 	0.2	
 	0.03	
 	 	$	1,968.8	 	0.1	
 	0.03	
 	 	
 	Savings	4,485.3	
 	1.0	
 	0.09	
 	 	4,451.1	
 	1.0	
 	0.09	
 	 	4,456.2	 	1.0	
 	0.09	
 	 	
 	Time	1,401.5	
 	1.4	
 	0.38	
 	 	1,381.4	
 	1.4	
 	0.42	
 	 	1,823.2	 	1.8	
 	0.38	
 	 	
Total Interest-Bearing Deposits	8,034.6	
 	2.5	
 	0.12	
 	 	7,938.5	
 	2.6	
 	0.13	
 	 	8,248.2	 	2.9	
 	0.14	
 	 	
Short-Term Borrowings	11.7	
 	—	
 	0.14	
 	 	29.4	
 	—	
 	0.12	
 	 	18.5	 	—	
 	0.15	
 	 	
Securities Sold Under Agreements	 	 	 	 	 	 	 	 	 	 	 	 	
     to Repurchase	847.2	
 	6.6	
 	3.03	
 	 	800.1	
 	6.7	
 	3.34	
 	 	853.0	 	7.2	
 	3.30	
 	 	
Long-Term Debt	174.7	
 	0.6	
 	1.44	
 	 	177.3	
 	0.7	
 	1.52	
 	 	28.0	 	0.5	
 	6.52	
 	 	
Total Interest-Bearing Liabilities	9,068.2	
 	9.7	
 	0.42	
 	 	8,945.3	
 	10.0	
 	0.44	
 	 	9,147.7	 	10.6	
 	0.46	
 	 	
Net Interest Income	 	$	93.5	
 	 	 	 	$	89.8	
 	 	 	 	$	96.2	
 	 	 	
 	Interest Rate Spread	 	 	2.69	
 	%	 	 	2.64	
 	%	 	 	2.84	
 	%	
 	Net Interest Margin	 	 	2.83	
 	%	 	 	2.77	
 	%	 	 	2.98	
 	%	
Noninterest-Bearing Demand Deposits	3,444.6	
 	 	 	 	3,306.1	
 	 	 	 	3,053.5	 	 	 	 	
Other Liabilities	261.2	
 	 	 	 	286.5	
 	 	 	 	265.8	 	 	 	 	
Shareholders' Equity	995.7	
 	 	 	 	1,034.4	
 	 	 	 	1,023.8	 	 	 	 	
Total Liabilities and Shareholders' Equity	$	13,769.7	
 	 	 	 	$	13,572.3	
 	 	 	 	$	13,490.8	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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 $2,597,000, $2,490,000 and $2,529,000 for the three months ended September 30, 2013, June 30, 2013, and September 30, 2012, respectively.	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Average Balances and Interest Rates - Taxable-Equivalent Basis	 	 	Table 7b	
 	 	Nine Months Ended	 	Nine Months Ended	 	
 	 	September 30, 2013	 	September 30, 2012	 	
 	 	Average	
 	Income/	 	Yield/	 	 	Average	 	Income/	 	Yield/	 	 	
(dollars in millions)	Balance	
 	Expense	 	Rate	 	 	Balance	 	Expense	 	Rate	 	 	
Earning Assets	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	$	4.2	
 	$	—	 	0.22	 	%	$	3.4	 	$	—	 	0.24	 	%	
Funds Sold	220.7	
 	0.3	 	0.19	 	 	240.5	 	0.4	 	0.19	 	 	
Investment Securities	 	 	 	 	 	 	 	 	
 	Available-for-Sale	3,007.0	
 	49.2	 	2.18	 	 	3,369.5	 	57.4	 	2.27	 	 	
 	Held-to-Maturity	3,895.6	
 	64.1	 	2.19	 	 	3,714.2	 	74.7	 	2.68	 	 	
Loans Held for Sale	19.3	
 	0.6	 	4.05	 	 	13.3	 	0.4	 	4.26	 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	852.1	
 	23.1	 	3.62	 	 	796.5	 	23.5	 	3.94	 	 	
 	Commercial Mortgage	1,124.6	
 	34.5	 	4.10	 	 	962.9	 	31.7	 	4.40	 	 	
 	Construction	114.4	
 	4.1	 	4.79	 	 	101.1	 	3.9	 	5.13	 	 	
 	Commercial Lease Financing	263.6	
 	4.7	 	2.36	 	 	285.7	 	5.1	 	2.37	 	 	
 	Residential Mortgage	2,273.0	
 	76.8	 	4.51	 	 	2,342.8	 	83.8	 	4.77	 	 	
 	Home Equity	759.4	
 	23.6	 	4.14	 	 	773.8	 	25.2	 	4.35	 	 	
 	Automobile	226.6	
 	9.3	 	5.51	 	 	193.9	 	8.8	 	6.05	 	 	
 	Other 2	212.7	
 	13.1	 	8.26	 	 	184.0	 	11.2	 	8.10	 	 	
Total Loans and Leases	5,826.4	
 	189.2	 	4.34	 	 	5,640.7	 	193.2	 	4.57	 	 	
Other	78.6	
 	0.9	 	1.48	 	 	80.0	 	0.8	 	1.41	 	 	
Total Earning Assets3	13,051.8	
 	304.3	 	3.11	 	 	13,061.6	 	326.9	 	3.34	 	 	
Cash and Noninterest-Bearing Deposits	139.7	
 	 	 	 	134.6	 	 	 	 	
Other Assets	442.4	
 	 	 	 	444.1	 	 	 	 	
Total Assets	$	13,633.9	
 	 	 	 	$	13,640.3	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	
 	Demand	$	2,105.1	
 	0.4	 	0.03	 	 	$	1,914.2	 	0.3	 	0.03	 	 	
 	Savings	4,448.5	
 	3.0	 	0.09	 	 	4,446.6	 	3.5	 	0.10	 	 	
 	Time	1,431.6	
 	4.3	 	0.41	 	 	1,447.1	 	5.8	 	0.53	 	 	
Total Interest-Bearing Deposits	7,985.2	
 	7.7	 	0.13	 	 	7,807.9	 	9.6	 	0.16	 	 	
Short-Term Borrowings	32.9	
 	—	 	0.14	 	 	16.4	 	—	 	0.14	 	 	
Securities Sold Under Agreements to Repurchase	801.5	
 	20.3	 	3.34	 	 	1,523.4	 	21.8	 	1.88	 	 	
Long-Term Debt	169.7	
 	2.0	 	1.53	 	 	29.8	 	1.5	 	6.51	 	 	
Total Interest-Bearing Liabilities	8,989.3	
 	30.0	 	0.44	 	 	9,377.5	 	32.9	 	0.46	 	 	
Net Interest Income	 	$	274.3	 	 	 	 	$	294.0	 	 	 	
 	Interest Rate Spread	 	 	2.67	 	%	 	 	2.88	 	%	
 	Net Interest Margin	 	 	2.81	 	%	 	 	3.01	 	%	
Noninterest-Bearing Demand Deposits	3,352.6	
 	 	 	 	2,978.8	 	 	 	 	
Other Liabilities	270.5	
 	 	 	 	265.1	 	 	 	 	
Shareholders' Equity	1,021.5	
 	 	 	 	1,018.9	 	 	 	 	
Total Liabilities and Shareholders' Equity	$	13,633.9	
 	 	 	 	$	13,640.3	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	
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 $7,498,000 and $7,080,000 for the nine months ended
   September 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 September 30, 2013	
 	Compared to June 30, 2013	
(dollars in millions)	Volume1	
 	Rate1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Funds Sold	$	0.1	
 	$	—	
 	$	0.1	
 	
Investment Securities	 	 	 	
   Available-for-Sale	(3.8	)	0.1	
 	(3.7	)	
   Held-to-Maturity	3.7	
 	2.1	
 	5.8	
 	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.2	
 	(0.3	)	(0.1	)	
   Commercial Mortgage	0.7	
 	0.1	
 	0.8	
 	
   Construction	0.2	
 	—	
 	0.2	
 	
   Commercial Lease Financing	(0.1	)	—	
 	(0.1	)	
   Residential Mortgage	—	
 	(0.2	)	(0.2	)	
   Home Equity	0.1	
 	—	
 	0.1	
 	
   Automobile	0.2	
 	—	
 	0.2	
 	
   Other 2	0.3	
 	—	
 	0.3	
 	
Total Loans and Leases	1.6	
 	(0.4	)	1.2	
 	
Total Change in Interest Income	1.6	
 	1.8	
 	3.4	

Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	—	
 	(0.1	)	(0.1	)	
   Time	0.1	
 	(0.1	)	—	
 	
Total Interest-Bearing Deposits	0.1	
 	(0.2	)	(0.1	)	
Securities Sold Under Agreements to Repurchase	0.4	
 	(0.5	)	(0.1	)	
Long-Term Debt	—	
 	(0.1	)	(0.1	)	
Total Change in Interest Expense	0.5	
 	(0.8	)	(0.3	)	
 	 	 	 	
Change in Net Interest Income	$	1.1	
 	$	2.6	
 	$	3.7	

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	 	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	 	Table 8b	
 	
 	Three Months Ended September 30, 2013	
 	Compared to September 30, 2012	
(dollars in millions)	Volume1	
 	Rate1	 	Total	 	
Change in Interest Income:	 	 	 	
Funds Sold	$	0.1	
 	$	—	 	$	0.1	 	
Investment Securities	 	 	 	
   Available-for-Sale	(4.1	)	(0.5	)	(4.6	)	
   Held-to-Maturity	4.6	
 	(2.8	)	1.8	 	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.8	
 	(0.8	)	—	 	
   Commercial Mortgage	1.8	
 	(0.5	)	1.3	 	
   Construction	0.2	
 	(0.1	)	0.1	 	
   Commercial Lease Financing	(0.1	)	(0.1	)	(0.2	)	
   Residential Mortgage	(1.6	)	(1.2	)	(2.8	)	
   Home Equity	(0.1	)	(0.3	)	(0.4	)	
   Automobile	0.6	
 	(0.2	)	0.4	 	
   Other 2	0.6	
 	0.1	 	0.7	 	
Total Loans and Leases	2.2	
 	(3.1	)	(0.9	)	
Total Change in Interest Income	2.8	
 	(6.4	)	(3.6	)	
 	 	 	 	
Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Savings	0.1	
 	(0.1	)	—	 	
   Time	(0.4	)	—	 	(0.4	)	
Total Interest-Bearing Deposits	(0.3	)	(0.1	)	(0.4	)	
Securities Sold Under Agreements to Repurchase	(0.1	)	(0.5	)	(0.6	)	
Long-Term Debt	0.7	
 	(0.6	)	0.1	 	
Total Change in Interest Expense	0.3	
 	(1.2	)	(0.9	)	
 	 	 	 	
Change in Net Interest Income	$	2.5	
 	$	(5.2	)	$	(2.7	)	
 	 	 	 	
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	 	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	 	Table 8c	
 	
 	Nine Months Ended September 30, 2013	
 	Compared to September 30, 2012	
(dollars in millions)	Volume1	
 	Rate1	 	Total	 	
Change in Interest Income:	 	 	 	
Funds Sold	$	(0.1	)	$	—	 	$	(0.1	)	
Investment Securities	 	 	 	
   Available-for-Sale	(6.0	)	(2.2	)	(8.2	)	
   Held-to-Maturity	3.5	
 	(14.1	)	(10.6	)	
Loans Held for Sale	0.2	
 	—	 	0.2	 	
Loans and Leases	 	 	 	
   Commercial and Industrial	1.6	
 	(2.0	)	(0.4	)	
   Commercial Mortgage	5.1	
 	(2.3	)	2.8	 	
   Construction	0.5	
 	(0.3	)	0.2	 	
   Commercial Lease Financing	(0.4	)	—	 	(0.4	)	
   Residential Mortgage	(2.5	)	(4.5	)	(7.0	)	
   Home Equity	(0.4	)	(1.2	)	(1.6	)	
   Automobile	1.3	
 	(0.8	)	0.5	 	
   Other 2	1.7	
 	0.2	 	1.9	 	
Total Loans and Leases	6.9	
 	(10.9	)	(4.0	)	
Other	—	
 	0.1	 	0.1	 	
Total Change in Interest Income	4.5	
 	(27.1	)	(22.6	)	
 	 	 	 	
Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	—	
 	0.1	 	0.1	 	
   Savings	—	
 	(0.5	)	(0.5	)	
   Time	(0.1	)	(1.4	)	(1.5	)	
Total Interest-Bearing Deposits	(0.1	)	(1.8	)	(1.9	)	
Securities Sold Under Agreements to Repurchase	(13.3	)	11.8	 	(1.5	)	
Long-Term Debt	2.3	
 	(1.8	)	0.5	 	
Total Change in Interest Expense	(11.1	)	8.2	 	(2.9	)	
 	 	 	 	
Change in Net Interest Income	$	15.6	
 	$	(35.3	)	$	(19.7	)	
 	 	 	 	
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	 	           Nine Months Ended	
 	September 30,	
 	June 30,	
 	September 30,	
 	 	              September 30,	
(dollars in thousands)	2013	
 	2013	
 	2012	
 	 	2013	
 	2012	
 	
Salaries	$	28,985	
 	$	28,690	
 	$	29,312	
 	 	$	86,753	
 	$	85,830	
 	
Incentive Compensation	4,242	
 	3,861	
 	4,492	
 	 	11,887	
 	12,678	
 	
Share-Based Compensation	1,333	
 	1,305	
 	1,817	
 	 	3,774	
 	5,260	
 	
Commission Expense	1,888	
 	1,983	
 	1,750	
 	 	5,652	
 	5,040	
 	
Retirement and Other Benefits	4,144	
 	3,594	
 	4,322	
 	 	12,106	
 	12,193	
 	
Payroll Taxes	2,335	
 	2,576	
 	2,267	
 	 	9,151	
 	8,522	
 	
Medical, Dental, and Life Insurance	1,872	
 	2,468	
 	2,255	
 	 	7,153	
 	6,931	
 	
Separation Expense	1,753	
 	864	
 	1,016	
 	 	4,092	
 	1,838	
 	
Total Salaries and Benefits	$	46,552	
 	$	45,341	
 	$	47,231	
 	 	$	140,568	
 	$	138,292	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	
Loan and Lease Portfolio Balances	Table 10	
 	
 	 	 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	September 30,	 	
(dollars in thousands)	2013	
 	2013	
 	2013	
 	2012	
 	2012	 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	895,040	
 	$	875,702	
 	$	834,801	
 	$	829,512	
 	$	808,621	 	
 	Commercial Mortgage	1,203,670	
 	1,160,977	
 	1,104,718	
 	1,097,425	
 	1,039,556	 	
 	Construction	124,230	
 	107,016	
 	117,797	
 	113,987	
 	101,818	 	
 	Lease Financing	255,550	
 	257,067	
 	269,107	
 	274,969	
 	277,328	 	
Total Commercial	2,478,490	
 	2,400,762	
 	2,326,423	
 	2,315,893	
 	2,227,323	 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	2,282,305	
 	2,252,117	
 	2,275,209	
 	2,349,916	
 	2,392,871	 	
 	Home Equity	765,841	
 	751,790	
 	757,877	
 	770,376	
 	770,284	 	
 	Automobile	246,704	
 	233,475	
 	220,362	
 	209,832	
 	200,788	 	
 	Other 1	233,302	
 	221,008	
 	203,098	
 	208,504	
 	191,038	 	
Total Consumer	3,528,152	
 	3,458,390	
 	3,456,546	
 	3,538,628	
 	3,554,981	 	
Total Loans and Leases	$	6,006,642	
 	$	5,859,152	
 	$	5,782,969	
 	$	5,854,521	
 	$	5,782,304	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Higher Risk Loans and Leases Outstanding	 	 	 	 	 	
 	 	 	September 30,	
 	June 30,	 	March 31,	 	December 31,	 	September 30,	 	
(dollars in thousands)	2013	
 	2013	 	2013	 	2012	 	2012	 	
Residential Land Loans 2	$	13,635	
 	$	13,708	 	$	13,996	 	$	14,984	 	$	16,513	 	
Home Equity Loans 3	12,588	
 	13,578	 	20,786	 	19,914	 	19,774	 	
Air Transportation 4	26,492	
 	26,436	 	27,115	 	27,782	 	27,765	 	
Total Higher Risk Loans	$	52,715	
 	$	53,722	 	$	61,897	 	$	62,680	 	$	64,052	 	
 	 	 	 	 	 	 	 	
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	 	 	 	 	 	
 	 	 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	September 30,	
 	
(dollars in thousands)	2013	
 	2013	
 	2013	
 	2012	
 	2012	
 	
Consumer	$	5,707,125	
 	$	5,626,515	
 	$	5,607,862	
 	$	5,537,624	
 	$	5,369,724	
 	
Commercial	4,680,370	
 	4,537,120	
 	4,505,835	
 	4,576,410	
 	4,394,745	
 	
Public and Other	1,220,639	
 	1,285,563	
 	1,138,163	
 	1,415,448	
 	1,456,078	
 	
Total Deposits	$	11,608,134	
 	$	11,449,198	
 	$	11,251,860	
 	$	11,529,482	
 	$	11,220,547	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More	Table 11	
 	
 	 	 	September 30,	
 	June 30,	 	March 31,	 	December 31,	 	September 30,	 	
(dollars in thousands)	2013	
 	2013	 	2013	 	2012	 	2012	 	
Non-Performing Assets	 	 	 	 	 	
Non-Accrual Loans and Leases	 	 	 	 	 	
 	Commercial	 	 	 	 	 	
 	 	Commercial and Industrial	$	5,295	
 	$	4,909	 	$	5,033	 	$	5,534	 	$	5,635	 	
 	 	Commercial Mortgage	2,355	
 	2,772	 	2,910	 	3,030	 	2,671	 	
 	 	Construction	—	
 	—	 	—	 	833	 	953	 	
 	 	Lease Financing	—	
 	16	 	—	 	—	 	—	 	
 	Total Commercial	7,650	
 	7,697	 	7,943	 	9,397	 	9,259	 	
 	Consumer	 	 	 	 	 	
 	 	Residential Mortgage	20,637	
 	22,876	 	24,700	 	21,725	 	25,456	 	
 	 	Home Equity	2,509	
 	2,602	 	2,413	 	2,074	 	2,502	 	
 	Total Consumer	23,146	
 	25,478	 	27,113	 	23,799	 	27,958	 	
Total Non-Accrual Loans and Leases	30,796	
 	33,175	 	35,056	 	33,196	 	37,217	 	
Foreclosed Real Estate	3,036	
 	3,256	 	3,318	 	3,887	 	3,067	 	
Total Non-Performing Assets	$	33,832	
 	$	36,431	 	$	38,374	 	$	37,083	 	$	40,284	 	
 	 	 	 	 	 	 	 	
Accruing Loans and Leases Past Due 90 Days or More	 	 	 	 	 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	8	
 	—	 	$	230	 	$	27	 	$	—	 	
Total Commercial	8	
 	—	 	230	 	27	 	—	 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	7,460	
 	6,876	 	5,967	 	6,908	 	3,988	 	
 	Home Equity	2,896	
 	2,768	 	4,538	 	2,701	 	2,755	 	
 	Automobile	193	
 	95	 	241	 	186	 	154	 	
 	Other 1	841	
 	855	 	676	 	587	 	578	 	
Total Consumer	11,390	
 	10,594	 	11,422	 	10,382	 	7,475	 	
Total Accruing Loans and Leases Past Due 90 Days or More	$	11,398	
 	$	10,594	 	$	11,652	 	$	10,409	 	$	7,475	 	
Restructured Loans on Accrual Status	 	 	 	 	 	
   and Not Past Due 90 Days or More	$	39,845	
 	$	39,154	 	$	30,065	 	$	31,844	 	$	31,426	 	
Total Loans and Leases	$	6,006,642	
 	$	5,859,152	 	$	5,782,969	 	$	5,854,521	 	$	5,782,304	 	
 	 	 	 	 	 	 	 	
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases	0.51	%	0.57	%	0.61	%	0.57	%	0.64	%	
 	 	 	 	 	 	 	 	
Ratio of Non-Performing Assets to Total Loans and Leases,	 	 	 	 	 	
 	and Foreclosed Real Estate	0.56	%	0.62	%	0.66	%	0.63	%	0.70	%	
 	 	 	 	 	 	 	 	
Ratio of Commercial Non-Performing Assets to Total Commercial	 	 	 	 	 	
 	Loans and Leases, and Commercial Foreclosed Real Estate	0.35	%	0.37	%	0.39	%	0.45	%	0.46	%	
 	 	 	 	 	 	 	 	
Ratio of Consumer Non-Performing Assets to Total Consumer	 	 	 	 	 	
 	Loans and Leases and Consumer Foreclosed Real Estate	0.71	%	0.80	%	0.85	%	0.75	%	0.84	%	
 	 	 	 	 	 	 	 	
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	0.75	%	0.80	%	0.86	%	0.81	%	0.83	%	
 	 	 	 	 	 	 	 	
Quarter to Quarter Changes in Non-Performing Assets	 	 	 	 	 	
Balance at Beginning of Quarter	$	36,431	
 	$	38,374	 	$	37,083	 	$	40,284	 	$	41,494	 	
Additions	3,395	
 	2,647	 	7,304	 	3,837	 	2,878	 	
Reductions	 	 	 	 	 	
 	Payments	(2,954	)	(1,306	)	(2,630	)	(3,994	)	(2,408	)	
 	Return to Accrual Status	(1,166	)	(1,978	)	(1,132	)	(728	)	(1,083	)	
 	Sales of Foreclosed Real Estate	(1,498	)	(1,257	)	(1,910	)	(1,354	)	(424	)	
 	Charge-offs/Write-downs	(376	)	(49	)	(341	)	(962	)	(173	)	
Total Reductions	(5,994	)	(4,590	)	(6,013	)	(7,038	)	(4,088	)	
Balance at End of Quarter	$	33,832	
 	$	36,431	 	$	38,374	 	$	37,083	 	$	40,284	 	
 	 	 	 	 	 	 	 	
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	 	       Nine Months Ended	
 	 	 	September 30,	
 	June 30,	 	September 30,	 	 	          September 30,	
(dollars in thousands)	2013	
 	2013	 	2012	 	 	2013	
 	2012	 	
Balance at Beginning of Period	$	130,494	
 	$	132,297	 	$	137,862	 	 	$	134,276	
 	$	144,025	 	
Loans and Leases Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	(607	)	(266	)	(519	)	 	(1,255	)	(3,028	)	
 	 	Construction	—	
 	—	 	—	 	 	—	
 	(330	)	
 	 	Lease Financing	(16	)	—	 	—	 	 	(16	)	—	 	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	(405	)	(188	)	(628	)	 	(1,828	)	(3,577	)	
 	 	Home Equity	(1,106	)	(2,016	)	(1,061	)	 	(4,499	)	(5,159	)	
 	 	Automobile	(457	)	(429	)	(472	)	 	(1,461	)	(1,436	)	
 	 	Other 1	(2,083	)	(1,805	)	(2,354	)	 	(5,618	)	(5,199	)	
Total Loans and Leases Charged-Off	(4,674	)	(4,704	)	(5,034	)	 	(14,677	)	(18,729	)	
Recoveries on Loans and Leases Previously Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	498	
 	437	 	578	 	 	1,373	
 	3,035	 	
 	 	Commercial Mortgage	519	
 	14	 	14	 	 	543	
 	48	 	
 	 	Construction	11	
 	8	 	3	 	 	357	
 	3	 	
 	 	Lease Financing	11	
 	11	 	83	 	 	33	
 	166	 	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	1,290	
 	634	 	739	 	 	2,712	
 	1,781	 	
 	 	Home Equity	614	
 	335	 	258	 	 	1,697	
 	993	 	
 	 	Automobile	348	
 	456	 	433	 	 	1,265	
 	1,453	 	
 	 	Other 1	488	
 	506	 	1,454	 	 	1,520	
 	2,636	 	
Total Recoveries on Loans and Leases Previously Charged-Off	3,779	
 	2,401	 	3,562	 	 	9,500	
 	10,115	 	
Net Loans and Leases Charged-Off	(895	)	(2,303	)	(1,472	)	 	(5,177	)	(8,614	)	
Provision for Credit Losses	—	
 	—	 	—	 	 	—	
 	979	 	
Provision for Unfunded Commitments	148	
 	500	 	—	 	 	648	
 	—	 	
Balance at End of Period2	$	129,747	
 	$	130,494	 	$	136,390	 	 	$	129,747	
 	$	136,390	 	
 	 	 	 	 	 	 	 	 	
Components	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	$	123,680	
 	$	124,575	 	$	130,971	 	 	$	123,680	
 	$	130,971	 	
Reserve for Unfunded Commitments	6,067	
 	5,919	 	5,419	 	 	6,067	
 	5,419	 	
Total Reserve for Credit Losses	$	129,747	
 	$	130,494	 	$	136,390	 	 	$	129,747	
 	$	136,390	 	
 	 	 	 	 	 	 	 	 	
Average Loans and Leases Outstanding	$	5,892,888	
 	$	5,781,898	 	$	5,716,421	 	 	$	5,826,424	
 	$	5,640,733	 	
 	 	 	 	 	 	 	 	 	
Ratio of Net Loans and Leases Charged-Off to	 	 	 	 	 	 	
 	Average Loans and Leases Outstanding (annualized)	0.06	%	0.16	%	0.10	%	 	0.12	%	0.20	%	
Ratio of Allowance for Loan and Lease Losses	 	 	 	 	 	 	
 	to Loans and Leases Outstanding	2.06	%	2.13	%	2.27	%	 	2.06	%	2.27	%	
 	 	 	 	 	 	 	 	 	
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 September 30, 2013	 	 	 	 	 	
Net Interest Income	$	41,404	
 	$	24,671	 	$	2,574	 	$	22,238	 	$	90,887	 	
Provision for Credit Losses	1,629	
 	(691	)	(19	)	(919	)	—	 	
Net Interest Income After Provision for Credit Losses	39,775	
 	25,362	 	2,593	 	23,157	 	90,887	 	
Noninterest Income	21,785	
 	6,411	 	14,348	 	2,582	 	45,126	 	
Noninterest Expense	(50,150	)	(15,746	)	(13,590	)	(3,491	)	(82,977	)	
Income Before Income Taxes	11,410	
 	16,027	 	3,351	 	22,248	 	53,036	 	
Provision for Income Taxes	(4,222	)	(5,501	)	(1,240	)	(4,369	)	(15,332	)	
Net Income	7,188	
 	10,526	 	2,111	 	17,879	 	37,704	 	
Total Assets as of September 30, 2013	$	3,611,412	
 	$	2,356,723	 	$	199,556	 	$	7,681,180	 	$	13,848,871	 	

Three Months Ended September 30, 20121	 	 	 	 	 	
Net Interest Income	$	44,139	
 	$	25,803	 	$	3,010	 	$	20,680	 	$	93,632	 	
Provision for Credit Losses	1,845	
 	(348	)	(24	)	(1,473	)	—	 	
Net Interest Income After Provision for Credit Losses	42,294	
 	26,151	 	3,034	 	22,153	 	93,632	 	
Noninterest Income	28,816	
 	5,773	 	14,366	 	3,419	 	52,374	 	
Noninterest Expense	(52,609	)	(15,397	)	(13,928	)	(2,944	)	(84,878	)	
Income Before Income Taxes	18,501	
 	16,527	 	3,472	 	22,628	 	61,128	 	
Provision for Income Taxes	(6,846	)	(5,669	)	(1,285	)	(6,096	)	(19,896	)	
Net Income	11,655	
 	10,858	 	2,187	 	16,532	 	41,232	 	
Total Assets as of September 30, 20121	$	3,675,639	
 	$	2,091,517	 	$	192,250	 	$	7,423,019	 	$	13,382,425	 	
 	 	 	 	 	 	
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	 	
Nine Months Ended September 30, 2013	 	 	 	 	 	
Net Interest Income	$	122,442	
 	$	73,528	 	$	7,938	 	$	62,879	 	$	266,787	 	
Provision for Credit Losses	6,775	
 	(1,501	)	(52	)	(5,222	)	—	 	
Net Interest Income After Provision for Credit Losses	115,667	
 	75,029	 	7,990	 	68,101	 	266,787	 	
Noninterest Income	67,686	
 	20,382	 	44,446	 	8,431	 	140,945	 	
Noninterest Expense	(150,838	)	(47,957	)	(40,954	)	(8,796	)	(248,545	)	
Income Before Income Taxes	32,515	
 	47,454	 	11,482	 	67,736	 	159,187	 	
Provision for Income Taxes	(12,030	)	(16,247	)	(4,248	)	(15,215	)	(47,740	)	
Net Income	20,485	
 	31,207	 	7,234	 	52,521	 	111,447	 	
Total Assets as of September 30, 2013	$	3,611,412	
 	$	2,356,723	 	$	199,556	 	$	7,681,180	 	$	13,848,871	 	

Nine Months Ended September 30, 20121	 	 	 	 	 	
Net Interest Income	$	133,530	
 	$	77,974	 	$	9,493	 	$	65,964	 	$	286,961	 	
Provision for Credit Losses	9,148	
 	(798	)	265	 	(7,636	)	979	 	
Net Interest Income After Provision for Credit Losses	124,382	
 	78,772	 	9,228	 	73,600	 	285,982	 	
Noninterest Income	76,232	
 	20,402	 	42,107	 	8,563	 	147,304	 	
Noninterest Expense	(154,883	)	(46,999	)	(42,105	)	(6,845	)	(250,832	)	
Income Before Income Taxes	45,731	
 	52,175	 	9,230	 	75,318	 	182,454	 	
Provision for Income Taxes	(16,920	)	(13,936	)	(3,415	)	(22,394	)	(56,665	)	
Net Income	28,811	
 	38,239	 	5,815	 	52,924	 	125,789	 	
Total Assets as of September 30, 20121	$	3,675,639	
 	$	2,091,517	 	$	192,250	 	$	7,423,019	 	$	13,382,425	 	
 	 	 	 	 	 	
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	 	
 	September 30,	 	 	June 30,	 	 	March 31,	 	 	December 31,	 	 	September 30,	
 	 	
(dollars in thousands, except per share amounts)	2013	 	 	2013	 	 	2013	 	 	2012	 	 	2012	
 	 	
Quarterly Operating Results	 	 	 	 	 	 	 	 	 	 	
Interest Income	 	 	 	 	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	63,918	 	 	$	62,729	 	 	$	62,820	 	 	$	64,627	 	 	$	64,668	
 	 	
   Income on Investment Securities	 	 	 	 	 	 	 	 	 	 	
      Available-for-Sale	12,038	 	 	15,073	 	 	15,851	 	 	15,349	 	 	15,922	
 	 	
      Held-to-Maturity	24,137	 	 	19,189	 	 	19,854	 	 	20,253	 	 	23,232	
 	 	
   Deposits	3	 	 	1	 	 	3	 	 	3	 	 	3	
 	 	
   Funds Sold	177	 	 	74	 	 	59	 	 	180	 	 	105	
 	 	
   Other	301	 	 	285	 	 	284	 	 	283	 	 	283	
 	 	
Total Interest Income	100,574	 	 	97,351	 	 	98,871	 	 	100,695	 	 	104,213	
 	 	
Interest Expense	 	 	 	 	 	 	 	 	 	 	
   Deposits	2,500	 	 	2,579	 	 	2,646	 	 	2,753	 	 	2,931	
 	 	
   Securities Sold Under Agreements to Repurchase	6,551	 	 	6,751	 	 	7,005	 	 	7,158	 	 	7,185	
 	 	
   Funds Purchased	4	 	 	10	 	 	22	 	 	4	 	 	7	
 	 	
   Long-Term Debt	632	 	 	671	 	 	638	 	 	470	 	 	458	
 	 	
Total Interest Expense	9,687	 	 	10,011	 	 	10,311	 	 	10,385	 	 	10,581	
 	 	
Net Interest Income	90,887	 	 	87,340	 	 	88,560	 	 	90,310	 	 	93,632	
 	 	
Provision for Credit Losses	—	 	 	—	 	 	—	 	 	—	 	 	—	
 	 	
Net Interest Income After Provision for Credit Losses	90,887	 	 	87,340	 	 	88,560	 	 	90,310	 	 	93,632	
 	 	
Noninterest Income	 	 	 	 	 	 	 	 	 	 	
   Trust and Asset Management	11,717	 	 	12,089	 	 	11,886	 	 	12,066	 	 	11,050	
 	 	
   Mortgage Banking	4,132	 	 	5,820	 	 	6,411	 	 	11,268	 	 	11,745	
 	 	
   Service Charges on Deposit Accounts	9,385	 	 	9,112	 	 	9,301	 	 	9,459	 	 	9,346	
 	 	
   Fees, Exchange, and Other Service Charges	12,732	 	 	13,133	 	 	11,934	 	 	12,333	 	 	11,907	
 	 	
   Investment Securities Gains, Net	—	 	 	—	 	 	—	 	 	—	 	 	13	
 	 	
   Insurance	2,177	 	 	2,393	 	 	2,325	 	 	2,550	 	 	2,326	
 	 	
   Bank-Owned Life Insurance	1,365	 	 	1,335	 	 	1,297	 	 	1,557	 	 	2,028	
 	 	
   Other	3,618	 	 	4,159	 	 	4,624	 	 	3,749	 	 	3,959	
 	 	
Total Noninterest Income	45,126	 	 	48,041	 	 	47,778	 	 	52,982	 	 	52,374	
 	 	
Noninterest Expense	 	 	 	 	 	 	 	 	 	 	
   Salaries and Benefits	46,552	 	 	45,341	 	 	48,675	 	 	46,116	 	 	47,231	
 	 	
   Net Occupancy	9,847	 	 	9,661	 	 	9,635	 	 	11,867	 	 	10,524	
 	 	
   Net Equipment	4,572	 	 	4,380	 	 	4,577	 	 	4,705	 	 	4,523	
 	 	
   Data Processing	3,697	 	 	3,050	 	 	3,266	 	 	3,058	 	 	3,397	
 	 	
   Professional Fees	2,119	 	 	2,391	 	 	2,226	 	 	2,611	 	 	2,494	
 	 	
   FDIC Insurance	1,913	 	 	1,949	 	 	1,949	 	 	1,892	 	 	1,822	
 	 	
   Other	14,277	 	 	14,409	 	 	14,059	 	 	13,207	 	 	14,887	
 	 	
Total Noninterest Expense	82,977	 	 	81,181	 	 	84,387	 	 	83,456	 	 	84,878	
 	 	
Income Before Provision for Income Taxes	53,036	 	 	54,200	 	 	51,951	 	 	59,836	 	 	61,128	
 	 	
Provision for Income Taxes	15,332	 	 	16,437	 	 	15,971	 	 	19,549	 	 	19,896	
 	 	
Net Income	$	37,704	 	 	$	37,763	 	 	$	35,980	 	 	$	40,287	 	 	$	41,232	

Basic Earnings Per Share	$	0.85	 	 	$	0.85	 	 	$	0.81	 	 	$	0.90	 	 	$	0.92	
 	 	
Diluted Earnings Per Share	$	0.85	 	 	$	0.85	 	 	$	0.81	 	 	$	0.90	 	 	$	0.92	
 	 	
Balance Sheet Totals	 	 	 	 	 	 	 	 	 	 	
Loans and Leases	$	6,006,642	 	 	$	5,859,152	 	 	$	5,782,969	 	 	$	5,854,521	 	 	$	5,782,304	
 	 	
Total Assets	13,848,871	 	 	13,733,418	 	 	13,525,667	 	 	13,728,372	 	 	13,382,425	
 	 	
Total Deposits	11,608,134	 	 	11,449,198	 	 	11,251,860	 	 	11,529,482	 	 	11,220,547	
 	 	
Total Shareholders' Equity	992,686	 	 	986,368	 	 	1,026,104	 	 	1,021,665	 	 	1,024,562	
 	 	
Performance Ratios	 	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.09	 	%	1.12	 	%	1.08	 	%	1.19	 	%	1.22	
 	%	
Return on Average Shareholders' Equity	15.02	 	 	14.64	 	 	14.10	 	 	15.47	 	 	16.02	
 	 	
Efficiency Ratio 1	61.01	 	 	59.96	 	 	61.90	 	 	58.24	 	 	58.13	
 	 	
Net Interest Margin 2	2.83	 	 	2.77	 	 	2.82	 	 	2.87	 	 	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	 	
 	Eight Months Ended	 	Year Ended	
($ in millions; jobs in thousands)	August 31, 2013	 	December 31, 2012	December 31, 2011	 	
Hawaii Economic Trends	 	 	 	 	 	 	 	 	 	 	 	
   State General Fund Revenues 1	$	3,653.7	 	 	4.0	
 	%	$	5,259.1	 	 	12.8	%	$	4,662.5	 	 	8.1	 	%	
   General Excise and Use Tax Revenue 1	$	1,937.4	 	 	1.2	
 	%	$	2,844.7	 	 	9.9	%	$	2,588.5	 	 	8.8	 	%	
   Jobs 2	614.8	 	 	 	 	619.3	 	 	 	614.2	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
 	August 31,	 	 	June 30,	
 	 	March 31,	 	 	December 31,	
(spot rates)	2013	 	 	2013	
 	 	2013	 	 	2012	
 	2011	 	 	2010	 	 	
Unemployment 3	 	 	 	 	 	 	 	 	 	 	 	
  Statewide, seasonally adjusted	4.3	 	%	4.6	
 	%	5.1	 	%	5.2	%	6.2	%	%	6.3	 	%	
 	 	 	 	 	 	 	 	 	 	 	 	
   Oahu	3.8	 	 	4.7	
 	 	4.6	 	 	4.3	
 	5.4	 	 	4.8	 	 	
   Island of Hawaii	5.8	 	 	7.5	
 	 	7.6	 	 	6.9	
 	8.9	 	 	8.6	 	 	
   Maui	4.5	 	 	5.4	
 	 	5.7	 	 	5.2	
 	7.1	 	 	7.4	 	 	
   Kauai	4.9	 	 	5.9	
 	 	6.4	 	 	6.0	
 	7.8	 	 	7.8	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
 	September 30,	 	 	June 30,	
 	 	March 31,	 	 	December 31,	
(percentage change, except months of inventory)	2013	 	 	2013	
 	 	2013	 	 	2012	
 	2011	 	 	2010	 	 	
Housing Trends (Single Family Oahu)4	 	 	 	 	 	 	 	 	 	 	
   Median Home Price	3.3	 	%	0.8	
 	%	(2.7	)	%	7.8	
 	(3.0	)	%	3.1	 	%	
   Home Sales Volume (units)	7.0	 	%	11.6	
 	%	6.9	 	%	6.5	
 	(2.7	)	%	13.4	 	%	
   Months of Inventory	2.8	 	 	2.7	
 	 	2.4	 	 	2.5	
 	4.8	 	 	6.0	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Monthly Visitor Arrivals,	 	Percentage Change	 	 	
(in thousands)	 	Seasonally Adjusted	 	from Previous Month	 	 	
Tourism5	 	 	 	 	 	 	 	 	
July 31, 2013	 	 	 	 	 	670.5	
 	 	(3.2	)%	
June 30, 2013	 	 	 	 	 	692.9	
 	 	2.1	 	
May 31, 2013	 	 	 	 	 	678.4	
 	 	2.5	 	
April 30, 2013	 	 	 	 	 	662.1	
 	 	(5.4	)	
March 31, 2013	 	 	 	 	 	699.8	
 	 	4.1	 	
February 28, 2013	 	 	 	 	 	672.4	
 	 	(0.2	)	
January 31, 2013	 	 	 	 	 	673.5	
 	 	(0.4	)	
December 31, 2012	 	 	 	 	 	675.9	
 	 	(2.6	)	
November 30, 2012	 	 	 	 	 	693.7	
 	 	5.5	 	
October 31, 2012	 	 	 	 	 	657.3	
 	 	0.6	 	
September 30, 2012	 	 	 	 	 	653.2	
 	 	(0.4	)	
August 31, 2012	 	 	 	 	 	656.0	
 	 	3.1	 	
July 31, 2012	 	 	 	 	 	636.3	
 	 	(2.7	)	
June 30, 2012	 	 	 	 	 	653.9	
 	 	0.7	 	
May 31, 2012	 	 	 	 	 	649.3	
 	 	1.5	 	
April 30, 2012	 	 	 	 	 	639.4	
 	 	(2.0	)	
March 31, 2012	 	 	 	 	 	652.4	
 	 	3.4	 	
February 29, 2012	 	 	 	 	 	631.2	
 	 	(1.1	)	
January 31, 2012	 	 	 	 	 	638.1	
 	 	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	 	
 	 	 	 	 	 	 	 	 	 	 	 	
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.