Bank of Hawaii net worth and financial performance have been a subject of interest for many. As a key player in the region, it’s crucial to understand what drives its revenue and stability.
Join Ando Money as we dive into its assets, credit quality, and more to provide you with an in-depth analysis of this bank’s finances.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Bank of Hawaii |
| Full Name | Bank of Hawaii Corporation |
| Traded as | NYSE: BOH |
| ISIN | US0625401098 |
| Founded | 1897 |
| Founders | Charles M. Cooke, Joseph B. Atherton, Peter C. Jones |
| Country/Territory | United States |
| Headquarters | Honolulu, Hawaii |
| Chief Executive Officer | Peter S. Ho |
| Number of Employees | 1,891 (as of March 2024) |
| Market Cap | $2.60 billion (estimated) |
| Total Assets | $23.4 billion (March 2024) |
| Total Equity | $1.44 billion (March 2024) |
| Revenue | N/A |
| Net Income | $36.4 million (Q1 2024) |
What is the Net Worth/ Market Cap of Bank of Hawaii in 2024?
As of September 2024, Bank of Hawaii has an estimated market cap of $2.60 billion.
This valuation positions the bank among medium-sized financial institutions in the U.S., with a strong presence in Hawaii and the Pacific region.
While its market cap is smaller compared to industry giants, Bank of Hawaii’s strong asset management and consistent financial performance contribute to its stability.
In comparison to other financial institutions, Bank of Hawaii’s market cap is modest but well-aligned with regional peers. Its focus on community banking and serving local markets adds a layer of resilience to its operations, even when compared to some larger global banks.
Related Banks:
- First Hawaiian Bank
- American Savings Bank
- Central Pacific Bank
- Bank of the West
- Citizens Bank
- Wells Fargo
- Chase Bank
For those curious about the biggest players in banking, here’s a helpful resource on the largest financial institutions in the world that could provide further insights.
Bank of Hawaii Financial Performance Overview
Exploring Key Financial Contributors
Revenue Generation is primarily driven by net interest income and non-interest income. The bank reported a net interest income of $113.9 million for the first quarter of 2024.
This income stream, albeit slightly lower compared to previous periods, still forms a significant portion of its overall revenue.
The bank’s focus on loans, leases, and deposits helps sustain its core income. Non-interest income, such as fees, trust services, and investment management, brings in an additional $42.3 million, maintaining a consistent level year-over-year.
Credit Quality and Asset Management
Bank of Hawaii has historically maintained strong credit quality, with non-performing assets at a mere 0.09% of total loans and leases in Q1 2024.
This is crucial for ensuring that the bank’s overall financial health remains intact, even during economic fluctuations.
The bank’s emphasis on managing loans and asset portfolios with caution helps mitigate risks, ensuring minimal impact on profitability.
Moreover, Bank of Hawaii’s loan portfolio reached $13.9 billion in total, showcasing steady growth despite economic challenges.
The bank strategically manages its commercial loans, consumer loans, and mortgage loans to balance risk and return.
Loan and Lease Performance
Loans and leases are core components of Bank of Hawaii’s revenue generation strategy. In Q1 2024, the bank saw an increase in the yield on its loans, which reached 4.63%.
The bank offers a variety of loan products, including commercial loans, residential mortgages, and home equity loans, each contributing to the overall performance.
The rise in loan yields, paired with the bank’s steady interest income, shows its ability to navigate through the fluctuating interest rate environment.
The commercial loan portfolio, in particular, is a significant contributor, standing at $5.8 billion in total.
Bank of Hawaii ensures that its credit quality remains high within this segment by keeping net charge-offs low.
Deposits and Financial Growth
Deposits form another essential pillar of Bank of Hawaii’s growth. The bank reported total deposits of $20.7 billion at the end of March 2024, a slight decrease from the previous quarter.
However, non-interest-bearing deposits, which represent a substantial portion of these funds, continue to provide low-cost capital for the bank’s operations.
This strong deposit base, combined with effective cost management, allows the bank to extend credit while maintaining liquidity.
Interest-bearing deposits, while slightly costlier due to rising interest rates, still provide a vital source of funding. The bank’s ability to attract and retain a substantial deposit base shows the trust it has built with its customers.
Shareholder Equity and Stock Performance
Bank of Hawaii’s shareholder equity stands at $1.44 billion, reflecting its solid capital position.
This is an essential measure for potential investors, as it shows the bank’s ability to sustain itself in the market.
Additionally, Bank of Hawaii’s return on average common equity was 11.20% in Q1 2024, demonstrating the efficiency with which it is using its equity to generate returns.
The bank’s stock performance is another indicator of its market standing.
As of March 2024, the stock price closed at $62.39, showing healthy growth compared to the previous year. While Bank of Hawaii may not compete with the largest global institutions, its performance within its niche market remains stable and promising.
Risk Management and Dividend Strategy
Bank of Hawaii places a high priority on risk management to safeguard its financial standing.
It has a robust system for managing credit risks and loan loss provisions, ensuring it is well-prepared for potential economic downturns.
This approach has kept non-performing loans in check, which is essential for maintaining long-term profitability.
FAQs about Bank of Hawaii
What is the bank’s market cap as of 2024?
As of September 2024, its market cap is around $2.60 billion. This positions it among the top regional financial institutions.
Who is the CEO of the bank?
The CEO is Peter S. Ho, leading since 2010, ensuring the bank’s growth in the Pacific region.
When was the bank founded?
It was founded in 1897 by Charles M. Cooke, Joseph B. Atherton, and Peter C. Jones. It has served the region for over 120 years.
Where is the bank headquartered?
The headquarters is in Honolulu, Hawaii, managing operations across Hawaii and the Pacific.
How many employees does the bank have?
It employs around 1,891 as of March 2024. Employees work across various financial services sectors.
What is the bank’s total asset value?
As of March 2024, its total assets are $23.4 billion. This supports lending, investments, and other financial services.
What types of loans does the bank offer?
It offers:
- Commercial loans
- Residential mortgages
- Home equity loans
- Auto loans
Conclusion
Bank of Hawaii’s financial health and net worth reflect a solid foundation in the banking industry. We’d love to hear your thoughts!
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