Bank of Hawaii (BOH) AGM 2025 summary

Opening remarks and agenda

• The 53rd Annual Meeting was held virtually, enhancing shareholder participation regardless of location or resources.

• The Board of Directors and management team were introduced, and meeting rules and agenda were outlined.

• Shareholders could vote online during the meeting, with proxy votes honored unless changed.

Board and executive committee updates

• James Polk was promoted to President in July 2024, now overseeing all revenue-generating businesses.

• Three executive committee members retired and were succeeded by internally groomed leaders, including new appointments for Chief Marketing Officer, Chief Risk Officer, and operations/technology.

• CFO Dean Shigemura will retire at the end of June 2025, to be succeeded by Bradley Satenberg.

Financial performance review

• Loan balances reached $14.1 billion, deposits $20.6 billion, and total assets $23.6 billion at year-end 2024.

• Return on common equity was 10.85%, return on assets 0.64%, and efficiency ratio 67.3%.

• Diluted earnings per share were $3.46, with net income of $150 million for 2024.

• Maintained quarterly dividend of $0.70 per share throughout 2024.

• Recognized by Newsweek as one of the most trustworthy banking companies and named Hawaii's best bank for the ninth consecutive year.