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Parent Company | 12 Months Ended
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Dec. 31, 2021
Parent Company |
Parent Company | 23. Parent Company ​ The following tables present Parent Company-only condensed financial statements: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Condensed Statements of Comprehensive Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(dollars in thousands) |  | 2021 |  | 2020 | ​ | 2019
Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends from FHB | ​ | $ | 213,500 | ​ | $ | 142,000 | ​ | $ | 300,300
Other income | ​ | ​ | — | ​ | ​ | 1,169 | ​ | ​ | 1,691
Total income | ​ | ​ | 213,500 | ​ | ​ | 143,169 | ​ | ​ | 301,991
Noninterest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Salaries and employee benefits | ​ | ​ | 3,732 | ​ | ​ | 3,660 | ​ | ​ | 5,241
Contracted services and professional fees | ​ | ​ | 2,731 | ​ | ​ | 2,544 | ​ | ​ | 2,689
Equipment | ​ | ​ | — | ​ | ​ | 31 | ​ | ​ | —
Other | ​ | ​ | 1,314 | ​ | ​ | 1,439 | ​ | ​ | 721
Total noninterest expense | ​ | ​ | 7,777 | ​ | ​ | 7,674 | ​ | ​ | 8,651
Income before benefit for income taxes and equity in undistributed income (excess distributions) of FHB | ​ | ​ | 205,723 | ​ | ​ | 135,495 | ​ | ​ | 293,340
Benefit for income taxes | ​ | ​ | 1,877 | ​ | ​ | 679 | ​ | ​ | 1,672
Equity in undistributed income (excess distributions) of FHB | ​ | ​ | 58,135 | ​ | ​ | 49,580 | ​ | ​ | (10,620)
Net income | ​ | $ | 265,735 | ​ | $ | 185,754 | ​ | $ | 284,392
Comprehensive income | ​ | $ | 112,438 | ​ | $ | 249,107 | ​ | $ | 384,838
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​
Condensed Statements of Condition | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(dollars in thousands) |  | 2021 |  | 2020
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 14,792 | ​ | $ | 18,066
Investment in FHB | ​ | ​ | 2,642,929 | ​ | ​ | 2,726,497
Other assets | ​ | ​ | 26,869 | ​ | ​ | 26,138
Total assets | ​ | $ | 2,684,590 | ​ | $ | 2,770,701
Liabilities and Stockholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
Retirement benefits payable | ​ | $ | 582 | ​ | $ | 580
Other liabilities | ​ | ​ | 27,096 | ​ | ​ | 26,017
Total liabilities | ​ | ​ | 27,678 | ​ | ​ | 26,597
​ | ​ | ​ | ​ | ​ | ​ | ​
Total stockholders' equity | ​ | ​ | 2,656,912 | ​ | ​ | 2,744,104
Total liabilities and stockholders' equity | ​ | $ | 2,684,590 | ​ | $ | 2,770,701
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Condensed Statements of Cash Flows | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Cash flows from operating activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 265,735 | ​ | $ | 185,754 | ​ | $ | 284,392
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Equity in undistributed income) excess distributions of FHB | ​ | ​ | (58,135) | ​ | ​ | (49,580) | ​ | ​ | 10,620
Deferred income taxes | ​ | ​ | 36 | ​ | ​ | 5 | ​ | ​ | 85
Stock-based compensation | ​ | ​ | 492 | ​ | ​ | 713 | ​ | ​ | 84
Change in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net decrease (increase) in other assets | ​ | ​ | 242 | ​ | ​ | (1,451) | ​ | ​ | 5,318
Net increase (decrease) in other liabilities | ​ | ​ | 50 | ​ | ​ | (294) | ​ | ​ | (5,439)
Net cash provided by operating activities | ​ | ​ | 208,420 | ​ | ​ | 135,147 | ​ | ​ | 295,060
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends paid | ​ | ​ | (134,133) | ​ | ​ | (135,099) | ​ | ​ | (138,246)
Stock tendered for payment of withholding taxes | ​ | ​ | (3,108) | ​ | ​ | (1,749) | ​ | ​ | (1,764)
Proceeds from employee stock purchase plan | ​ | ​ | 547 | ​ | ​ | 312 | ​ | ​ | —
Common stock repurchased | ​ | ​ | (75,000) | ​ | ​ | (5,000) | ​ | ​ | (136,242)
Net cash used in financing activities | ​ | ​ | (211,694) | ​ | ​ | (141,536) | ​ | ​ | (276,252)
Net (decrease) increase in cash and cash equivalents | ​ | ​ | (3,274) | ​ | ​ | (6,389) | ​ | ​ | 18,808
Cash and cash equivalents at beginning of year | ​ | ​ | 18,066 | ​ | ​ | 24,455 | ​ | ​ | 5,647
Cash and cash equivalents at end of year | ​ | $ | 14,792 | ​ | $ | 18,066 | ​ | $ | 24,455
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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