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Parent Company

12 Months Ended

Dec. 31, 2024

Parent Company

Parent Company

23. Parent Company

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The following tables present Parent Company-only condensed financial statements:

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​	​	​	​	​	​	​	​	​	​
Condensed Statements of Comprehensive Income	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(dollars in thousands)		2024			2023		​	2022
Income	​	​	​	​	​	​	​	​	​
Dividends from FHB	​	$	181,800	​	$	139,500	​	$	157,000
Other income	​	​	2,147	​	​	2,492	​	​	—
Total income	​	​	183,947	​	​	141,992	​	​	157,000
Noninterest expense	​	​	​	​	​	​	​	​	​
Salaries and employee benefits	​	​	4,812	​	​	4,404	​	​	4,098
Contracted services and professional fees	​	​	3,590	​	​	3,554	​	​	6,200
Equipment	​	​	113	​	​	102	​	​	78
Other	​	​	5,240	​	​	1,474	​	​	1,447
Total noninterest expense	​	​	13,755	​	​	9,534	​	​	11,823
Income before benefit for income taxes and equity in undistributed income of FHB	​	​	170,192	​	​	132,458	​	​	145,177
(Benefit) provision for income taxes	​	​	(4,076)	​	​	145	​	​	(2,707)
Equity in undistributed income of FHB	​	​	55,861	​	​	102,670	​	​	117,801
Net income	​	$	230,129	​	$	234,983	​	$	265,685
Comprehensive income (loss)	​	$	296,345	​	$	344,027	​	$	(251,876)
​	​	​	​	​	​	​	​	​	​

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​	​	​	​	​	​	​
Condensed Statements of Condition	​	​	​	​	​	​
​	​	December 31,
(dollars in thousands)		2024			2023
Assets	​	​	​	​	​	​
Cash and cash equivalents	​	$	18,130	​	$	15,475
Investment in FHB	​	​	2,603,944	​	​	2,471,679
Other assets	​	​	28,526	​	​	30,131
Total assets	​	$	2,650,600	​	$	2,517,285
Liabilities and Stockholders' Equity	​	​	​	​	​	​
Retirement benefits payable	​	$	677	​	$	688
Other liabilities	​	​	32,437	​	​	30,531
Total liabilities	​	​	33,114	​	​	31,219
​	​	​	​	​	​	​
Total stockholders' equity	​	​	2,617,486	​	​	2,486,066
Total liabilities and stockholders' equity	​	$	2,650,600	​	$	2,517,285

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​	​	​	​	​	​	​	​	​	​
Condensed Statements of Cash Flows	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(dollars in thousands)		2024			2023			2022
Cash flows from operating activities	​	​	​	​	​	​	​	​	​
Net income	​	$	230,129	​	$	234,983	​	$	265,685
Adjustments to reconcile net income to net cash provided by operating activities:	​	​	​	​	​	​	​	​	​
Equity in undistributed income of FHB	​	​	(55,861)	​	​	(102,670)	​	​	(117,801)
Deferred income tax (benefit) provision	​	​	16	​	​	(96)	​	​	22
Stock-based compensation	​	​	575	​	​	584	​	​	554
Change in assets and liabilities:	​	​	​	​	​	​	​	​	​
Net decrease (increase) in other assets	​	​	3,161	​	​	164	​	​	(4)
Net (decrease) increase in other liabilities	​	​	(34)	​	​	39	​	​	18
Net cash provided by operating activities	​	​	177,986	​	​	133,004	​	​	148,474
​	​	​	​	​	​	​	​	​	​
Cash flows from financing activities	​	​	​	​	​	​	​	​	​
Dividends paid	​	​	(132,798)	​	​	(132,646)	​	​	(132,588)
Stock tendered for payment of withholding taxes	​	​	(2,778)	​	​	(3,215)	​	​	(3,555)
Proceeds from employee stock purchase plan	​	​	245	​	​	308	​	​	379
Common stock repurchased	​	​	(40,000)	​	​	—	​	​	(9,478)
Net cash used in financing activities	​	​	(175,331)	​	​	(135,553)	​	​	(145,242)
Net increase (decrease) in cash and cash equivalents	​	​	2,655	​	​	(2,549)	​	​	3,232
Cash and cash equivalents at beginning of year	​	​	15,475	​	​	18,024	​	​	14,792
Cash and cash equivalents at end of year	​	$	18,130	​	$	15,475	​	$	18,024

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X

- References

No definition available.

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X

- 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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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