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Parent Company | 12 Months Ended
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Dec. 31, 2022
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) |  | 2022 |  | 2021 | ​ | 2020 |
Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends from FHB | ​ | $ | 157,000 | ​ | $ | 213,500 | ​ | $ | 142,000 | ​
Other income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,169 | ​
Total income | ​ | ​ | 157,000 | ​ | ​ | 213,500 | ​ | ​ | 143,169 | ​
Noninterest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Salaries and employee benefits | ​ | ​ | 4,098 | ​ | ​ | 3,732 | ​ | ​ | 3,660 | ​
Contracted services and professional fees | ​ | ​ | 6,200 | ​ | ​ | 2,731 | ​ | ​ | 2,544 | ​
Equipment | ​ | ​ | 78 | ​ | ​ | — | ​ | ​ | 31 | ​
Other | ​ | ​ | 1,447 | ​ | ​ | 1,314 | ​ | ​ | 1,439 | ​
Total noninterest expense | ​ | ​ | 11,823 | ​ | ​ | 7,777 | ​ | ​ | 7,674 | ​
Income before benefit for income taxes and equity in undistributed income of FHB | ​ | ​ | 145,177 | ​ | ​ | 205,723 | ​ | ​ | 135,495 | ​
Benefit for income taxes | ​ | ​ | 2,707 | ​ | ​ | 1,877 | ​ | ​ | 679 | ​
Equity in undistributed income of FHB | ​ | ​ | 117,801 | ​ | ​ | 58,135 | ​ | ​ | 49,580 | ​
Net income | ​ | $ | 265,685 | ​ | $ | 265,735 | ​ | $ | 185,754 | ​
Comprehensive (loss) income | ​ | $ | (251,876) | ​ | $ | 112,438 | ​ | $ | 249,107 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Condensed Statements of Condition | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(dollars in thousands) |  | 2022 |  | 2021
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 18,024 | ​ | $ | 14,792
Investment in FHB | ​ | ​ | 2,251,841 | ​ | ​ | 2,642,929
Other assets | ​ | ​ | 27,638 | ​ | ​ | 26,869
Total assets | ​ | $ | 2,297,503 | ​ | $ | 2,684,590
Liabilities and Stockholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
Retirement benefits payable | ​ | $ | 560 | ​ | $ | 582
Other liabilities | ​ | ​ | 27,938 | ​ | ​ | 27,096
Total liabilities | ​ | ​ | 28,498 | ​ | ​ | 27,678
​ | ​ | ​ | ​ | ​ | ​ | ​
Total stockholders' equity | ​ | ​ | 2,269,005 | ​ | ​ | 2,656,912
Total liabilities and stockholders' equity | ​ | $ | 2,297,503 | ​ | $ | 2,684,590
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Condensed Statements of Cash Flows | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Cash flows from operating activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 265,685 | ​ | $ | 265,735 | ​ | $ | 185,754
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed income of FHB | ​ | ​ | (117,801) | ​ | ​ | (58,135) | ​ | ​ | (49,580)
Deferred income taxes | ​ | ​ | 22 | ​ | ​ | 36 | ​ | ​ | 5
Stock-based compensation | ​ | ​ | 554 | ​ | ​ | 492 | ​ | ​ | 713
Change in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (increase) decrease in other assets | ​ | ​ | (4) | ​ | ​ | 242 | ​ | ​ | (1,451)
Net increase (decrease) in other liabilities | ​ | ​ | 18 | ​ | ​ | 50 | ​ | ​ | (294)
Net cash provided by operating activities | ​ | ​ | 148,474 | ​ | ​ | 208,420 | ​ | ​ | 135,147
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends paid | ​ | ​ | (132,588) | ​ | ​ | (134,133) | ​ | ​ | (135,099)
Stock tendered for payment of withholding taxes | ​ | ​ | (3,555) | ​ | ​ | (3,108) | ​ | ​ | (1,749)
Proceeds from employee stock purchase plan | ​ | ​ | 379 | ​ | ​ | 547 | ​ | ​ | 312
Common stock repurchased | ​ | ​ | (9,478) | ​ | ​ | (75,000) | ​ | ​ | (5,000)
Net cash used in financing activities | ​ | ​ | (145,242) | ​ | ​ | (211,694) | ​ | ​ | (141,536)
Net increase (decrease) in cash and cash equivalents | ​ | ​ | 3,232 | ​ | ​ | (3,274) | ​ | ​ | (6,389)
Cash and cash equivalents at beginning of year | ​ | ​ | 14,792 | ​ | ​ | 18,066 | ​ | ​ | 24,455
Cash and cash equivalents at end of year | ​ | $ | 18,024 | ​ | $ | 14,792 | ​ | $ | 18,066
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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 https://asc.fasb.org/extlink&oid=126898705&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 https://asc.fasb.org/extlink&oid=126929396&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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