XML 61 R50.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of the Company's Provision for Income Taxes

The components of the Company’s provision for income taxes for the years ended December 31, 2024, 2023 and 2022 were as follows:

(dollars in thousands)		2024				2023				2022
Current:
Federal		$	56,974			$	59,084			$	59,855
State			3,103				8,035				7,688
Total Current			60,077				67,119				67,543
Deferred:
Federal			(8,805	)			(8,800	)			(3,247	)
State			(3,415	)			(2,405	)			534
Total Deferred			(12,220	)			(11,205	)			(2,713	)
Provision for Income Taxes		$	47,857			$	55,914			$	64,830

Schedule of Significant Components of the Company's Deferred Tax Assets and Liabilities

As of December 31, 2024 and 2023, significant components of the Company’s deferred tax assets and liabilities were as follows:

		December 31,
(dollars in thousands)		2024				2023
Deferred Tax Assets:
Allowance for Credit Losses		$	39,907			$	40,370
Minimum Pension Liability			8,439				8,390
Accrued Expenses			22,361				20,020
Operating Lease Right-of-Use Assets			23,538				25,102
Net Unrealized Losses on Investments Securities			115,416				134,685
Low Income Housing Investments			8,512				4,569
Other			29,279				27,756
Gross Deferred Tax Assets Before Valuation Allowance			247,452				260,892
Valuation Allowance			(9,740	)			(6,728	)
Gross Deferred Tax Assets After Valuation Allowance			237,712				254,164
Deferred Tax Liabilities:
Accelerated Depreciation			(2,904	)			(8,513	)
Accrued Pension Cost			(11,270	)			(11,270	)
Lease Transactions			(20,234	)			(22,571	)
Operating Lease Liabilities			(21,251	)			(22,826	)
Other			(12,540	)			(14,368	)
Gross Deferred Tax Liabilities			(68,199	)			(79,548	)
Net Deferred Tax Assets		$	169,513			$	174,616

Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2024, 2023 and 2022:

		2024							2023							2022
(dollars in thousands)		Amount			Percent				Amount			Percent				Amount			Percent
Statutory Federal Income Tax Expense and Rate		$	41,549			21.00	%		$	47,694			21.00	%		$	61,033			21.00	%
State Taxes, Net of Federal Income Tax Benefit			343			0.17				5,005			2.20				6,041			2.08
Tax credits
Low-Income Housing Investments Amortization, Net of Tax Benefits			5,731			2.90				2,797			1.23				5,118			1.76
Investment Tax Credits			(1,041	)		(0.53	)			(845	)		(0.37	)			(822	)		(0.28	)
Changes in valuation allowances			2,237			1.13				263			0.12				(460	)		(0.16	)
Nontaxable or nondeductible items
Nondeductible Compensation			2,306			1.17				1,801			0.79				1,161			0.40
Bank-Owned Life Insurance			(2,852	)		(1.44	)			(2,419	)		(1.07	)			(2,091	)		(0.72	)
Tax-Exempt Income			(1,779	)		(0.90	)			(1,138	)		(0.50	)			(568	)		(0.20	)
Other reconciling items
Other			1,363			0.69				2,756			1.21				(4,582	)		(1.58	)
Income Tax Expense and Effective Tax Rate		$	47,857			24.19	%		$	55,914			24.62	%		$	64,830			22.31	%

Schedule of Reconciliation of the Company's Liability for Unrecognized Tax Benefits

The following presents a reconciliation of the Company’s liability for UTBs for the years ended December 31, 2024, 2023 and 2022:

(dollars in thousands)		2024				2023				2022
Unrecognized Tax Benefits at Beginning of Year		$	3,737			$	3,696			$	4,015
Gross Increases, Related to Tax Positions Taken in a Prior Period			1,276				54				1
Gross Decreases, Related to Tax Positions Taken in a Prior Period			—				—				(26	)
Gross Increases, Related to Current Period Tax Positions			540				27				226
Lapse of Statute of Limitations			(213	)			(40	)			(520	)
Unrecognized Tax Benefits at End of Year		$	5,340			$	3,737			$	3,696

Schedule of Cash Paid for Federal and State Income Taxes

The following table presents cash paid for federal and state income taxes for the years ended December 31, 2024, 2023 and 2022.

(dollars in thousands)		2024				2023				2022
Cash Paid for Federal Income Taxes		$	21,650			$	42,500			$	42,700
Cash Paid for State Income Taxes			9,590				9,746				10,325
Total Cash Paid for Income Taxes		$	31,240			$	52,246			$	53,025

X

- Definition

Schedule of cash paid for federal and state income taxes

+ References

No definition available.

+ Details

Name:	boh_ScheduleOfCashPaidForFederalAndStateIncomeTaxesTableTextBlock
Namespace Prefix:	boh_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration