XML 60 R47.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Employee Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract] |
Schedule of Reconciliation of Changes in Benefit Obligation and Fair value of Plan Assets As Well As the Funded Status Recognized in the Consolidated Statements | The following table provides a reconciliation of changes in benefit obligation and fair value of plan assets, as well as the funded status recognized in the Company’s consolidated statements of condition for the Pension Plans and postretirement benefit plan for the years ended December 31, 2021, and December 31, 2020.
|  | Pension Benefits |  |  | Postretirement Benefits |
(dollars in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Benefit Obligation at Beginning of Year |  | $ | 117,647 |  |  | $ | 110,637 |  |  | $ | 31,507 |  |  | $ | 27,571 |
Service Cost |  |  | — |  |  |  | — |  |  |  | 678 |  |  |  | 578 |
Interest Cost |  |  | 2,924 |  |  |  | 3,627 |  |  |  | 816 |  |  |  | 945 |
Actuarial Losses (Gains) |  |  | (2,817 | ) |  |  | 10,364 |  |  |  | (2,514 | ) |  |  | 3,559 |
Employer Benefits Paid 1 |  |  | (7,169 | ) |  |  | (6,981 | ) |  |  | (1,217 | ) |  |  | (1,146 | )
Benefit Obligation at End of Year |  | $ | 110,585 |  |  | $ | 117,647 |  |  | $ | 29,270 |  |  | $ | 31,507 |
Fair Value of Plan Assets at Beginning of Year |  | $ | 97,890 |  |  | $ | 93,638 |  |  | $ | — |  |  | $ | — |
Actual Return on Plan Assets |  |  | 10,103 |  |  |  | 10,764 |  |  |  | — |  |  |  | — |
Employer Contributions |  |  | 470 |  |  |  | 469 |  |  |  | 1,217 |  |  |  | 1,146 |
Employer Benefits Paid 1 |  |  | (7,169 | ) |  |  | (6,981 | ) |  |  | (1,217 | ) |  |  | (1,146 | )
Fair Value of Plan Assets at End of Year |  | $ | 101,294 |  |  | $ | 97,890 |  |  | $ | — |  |  | $ | — |
Funded Status at End of Year 2 |  | $ | (9,291 | ) |  | $ | (19,757 | ) |  | $ | (29,270 | ) |  | $ | (31,507 | )
1 | Participants' contributions relative to the postretirement benefit plan were offset against employer benefits paid in the table above. Participants' contributions for postretirement benefits were $0.8 million for the years ended December 31, 2021, and December 31, 2020.
2 | Amounts are recognized in Retirement Benefits Payable in the consolidated statements of condition.
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | The following presents the amounts recognized in the Company’s accumulated other comprehensive income for the Pension Plans and postretirement benefit plan as of December 31, 2021, and December 31, 2020.
|  | Pension Benefits |  |  | Postretirement Benefits |
(dollars in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Actuarial Gains (Losses) |  | $ | (35,014 | ) |  | $ | (43,101 | ) |  | $ | 235 |  |  | $ | (1,613 | )
Net Prior Service Credit |  |  | — |  |  |  | — |  |  |  | 1,283 |  |  |  | 1,464 |
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax |  | $ | (35,014 | ) |  | $ | (43,101 | ) |  | $ | 1,518 |  |  | $ | (149 | )
Schedule of Components of Net Periodic Benefit Cost | Components of net periodic benefit cost for the Company’s Pension Plans and the postretirement benefit plan are presented in the following table for the years ended December 31, 2021, December 31, 2020, and December 31, 2019.
|  | Pension Benefits |  |  | Postretirement Benefits |
(dollars in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2021 |  |  | 2020 |  |  | 2019 |
Service Cost |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 678 |  |  | $ | 578 |  |  | $ | 455 |
Interest Cost |  |  | 2,924 |  |  |  | 3,627 |  |  |  | 4,401 |  |  |  | 816 |  |  |  | 945 |  |  |  | 1,025 |
Expected Return on Plan Assets |  |  | (4,592 | ) |  |  | (5,028 | ) |  |  | (4,993 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior Service Credit 1 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (246 | ) |  |  | (246 | ) |  |  | (288 | )
Net Actuarial Losses (Gains) 1 |  |  | 2,676 |  |  |  | 2,318 |  |  |  | 1,937 |  |  |  | — |  |  |  | — |  |  |  | (339 | )
Net Periodic Benefit Cost |  | $ | 1,008 |  |  | $ | 917 |  |  | $ | 1,345 |  |  | $ | 1,248 |  |  | $ | 1,277 |  |  | $ | 853 |
1 | Represents reclassification adjustments from accumulated other comprehensive income during the period.
Schedule of Assumptions Used to Determine the Benefit Obligations/net Periodic Cost | Assumptions used to determine the benefit obligations as of December 31, 2021, and December 31, 2020, for the Company’s Pension Plans and postretirement benefit plan were as follows:
|  | Pension Benefits |  |  | Postretirement Benefits |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted Average Assumptions as of December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Rate |  |  | 2.89 | % |  |  | 2.55 | % |  |  | 3.00 | % |  |  | 2.66 | %
Health Care Cost Trend Rate Assumed For Next Year |  |  | — |  |  |  | — |  |  |  | 5.70 | % |  |  | 5.50 | %
Schedule of Assumptions Used in Calculation Net Periodic Benefit Cost | Assumptions used to determine the net periodic benefit cost for the Company’s Pension Plans and postretirement benefit plan for the years ended December 31, 2021, December 31, 2020, and December 31, 2019, were as follows:
|  | Pension Benefits |  |  | Postretirement Benefits |
|  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2021 |  |  | 2020 |  |  | 2019 |
Weighted Average Assumptions as of December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Rate |  |  | 2.55 | % |  |  | 3.36 | % |  |  | 4.41 | % |  |  | 2.66 | % |  |  | 3.42 | % |  |  | 4.48 | %
Expected Long-Term Rate of Return on Plan Assets |  |  | 5.25 | % |  |  | 5.75 | % |  |  | 5.75 | % |  |  | — |  |  |  | — |  |  |  | — |
Health Care Cost Trend Rate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5.50 | % |  |  | 5.70 | % |  |  | 6.00 | %
Schedule of Expected Benefits to be Paid in Each of the Next Five Years and in the Aggregate for the Five Years Thereafter | As of December 31, 2021, expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter were as follows:
(dollars in thousands) |  | Pension Benefits |  |  | Postretirement Benefits |
2022 |  | $ | 7,387 |  |  | $ | 1,375 |
2023 |  |  | 7,417 |  |  |  | 1,423 |
2024 |  |  | 7,399 |  |  |  | 1,456 |
2025 |  |  | 7,367 |  |  |  | 1,512 |
2026 |  |  | 7,297 |  |  |  | 1,549 |
Years 2027-2031 |  |  | 34,473 |  |  |  | 8,362 |
Schedule of the Fair Values of the Retirement Plan Assets by Asset Category | The fair values of the Retirement Plan assets as of December 31, 2021, and December 31, 2020, by asset category were as follows:
|  | Fair Value Measurements |
Asset Category (dollars in thousands) |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Other Unobservable Inputs (Level 3) |  |  | Total as of Dec. 31, 2021 |  |  | Total as of Dec. 31, 2020 |
Cash |  | $ | 618 |  |  | $ | — |  |  | $ | — |  |  | $ | 618 |  |  | $ | 1,079 |
Equity Securities – Mutual Funds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Large-Cap |  |  | 511 |  |  |  | — |  |  |  | — |  |  |  | 511 |  |  |  | 1,849 |
Mixed-Cap |  |  | 33,108 |  |  |  | — |  |  |  | — |  |  |  | 33,108 |  |  |  | 29,802 |
International |  |  | 29,022 |  |  |  | — |  |  |  | — |  |  |  | 29,022 |  |  |  | 28,055 |
Emerging Market |  |  | 1,786 |  |  |  | — |  |  |  | — |  |  |  | 1,786 |  |  |  | 2,494 |
Fixed Income Securities – Mutual Funds |  |  | 36,249 |  |  |  | — |  |  |  | — |  |  |  | 36,249 |  |  |  | 34,611 |
Total |  | $ | 101,294 |  |  | $ | — |  |  | $ | — |  |  | $ | 101,294 |  |  | $ | 97,890 |

X
- Definition Tabular disclosure of the assumptions used to determine the benefit obligation for pension plans and/or postretirement benefit plans, including assumed discount rates, rate increase in compensation and expected long-term rates of return on plan assets. + References No definition available. + Details
Name: | boh_ScheduleOfDefinedBenefitPlanAssumptionsUsedInCalculatingBenefitObligationTableTextBlock
Namespace Prefix: | boh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine the net benefit cost for pension plans and/or other employee benefit plans, including assumed discount rates, rate increase in compensation and expected long-term rates of return on plan assets. + References No definition available. + Details
Name: | boh_ScheduleOfDefinedBenefitPlanAssumptionsUsedInCalculatingNetPeriodicBenefitCostTableTextBlock
Namespace Prefix: | boh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration