XML 66 R55.htm IDEA: XBRL DOCUMENT v3.25.0.1

Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023:

(dollars in thousands)		Quoted Prices In Active Markets for Identical Assets or Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
December 31, 2024
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies		$	150,389			$	98,683			$	—			$	249,072
Debt Securities Issued by States and Political Subdivisions			—				63,859				—				63,859
Debt Securities Issued by U.S. Government-Sponsored Enterprises			—				1,464				—				1,464
Debt Securities Issued by Corporations			—				671,675				—				671,675
Collateralized Mortgage Obligations Issued by
Residential - Government Agencies or Sponsored Enterprises			—				935,220				—				935,220
Commercial - Government Agencies or Sponsored Enterprises			—				283,474				—				283,474
Total Collateralized Mortgage Obligations			—				1,218,694				—				1,218,694
Mortgage-Backed Securities:
Residential - Government Agencies or Sponsored Enterprises			—				484,764				—				484,764
Total Investment Securities Available-for-Sale			150,389				2,539,139				—				2,689,528
Loans Held for Sale			—				2,150				—				2,150
Mortgage Servicing Rights			—				—				647				647
Other Assets			18,155				—				—				18,155
Derivatives 1			—				161,439				34				161,473
Total Assets Measured at Fair Value on a    Recurring Basis as of December 31, 2024		$	168,544			$	2,702,728			$	681			$	2,871,953
Liabilities:
Derivatives 1		$	—			$	154,060			$	—			$	154,060
Total Liabilities Measured at Fair Value on a    Recurring Basis as of December 31, 2024		$	—			$	154,060			$	—			$	154,060
December 31, 2023
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies		$	146,214			$	66,359			$	—			$	212,573
Debt Securities Issued by States and Political Subdivisions			—				63,806				—				63,806
Debt Securities Issued by U.S. Government-Sponsored Enterprises			—				1,476				—				1,476
Debt Securities Issued by Corporations			—				657,701				—				657,701
Collateralized Mortgage Obligations Issued by
Residential - Government Agencies or Sponsored Enterprises			—				774,363				—				774,363
Commercial - Government Agencies or Sponsored Enterprises			—				134,923				—				134,923
Total Collateralized Mortgage Obligations			—				909,286				—				909,286
Mortgage-Backed Securities Issued by:
Residential - Government Agencies or Sponsored Enterprises			—				564,091				—				564,091
Total Investment Securities Available-for-Sale			146,214				2,262,719				—				2,408,933
Loans Held for Sale			—				3,124				—				3,124
Mortgage Servicing Rights			—				—				678				678
Other Assets			13,448				—				—				13,448
Derivatives 1			—				94,921				148				95,069
Total Assets Measured at Fair Value on a    Recurring Basis as of December 31, 2023		$	159,662			$	2,360,764			$	826			$	2,521,252
Liabilities:
Derivatives 1		$	—			$	143,857			$	—			$	143,857
Total Liabilities Measured at Fair Value on a    Recurring Basis as of December 31, 2023		$	—			$	143,857			$	—			$	143,857

1.The fair value of each class of derivatives is shown in Note 17 Derivative Financial Instruments.

Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis

For the years ended December 31, 2024 and 2023, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:

(dollars in thousands)		Mortgage Servicing Rights 1				Net Derivative Assets and Liabilities 2
Year Ended December 31, 2024
Balance as of January 1, 2024		$	678			$	148
Realized and Unrealized Net Gains (Losses):
Included in Net Income			(31	)			805
Transfers to Loans Held for Sale			—				(919	)
Balance as of December 31, 2024		$	647			$	34
Total Unrealized Net Gains Included in Net Income    Related to Assets Still Held as of December 31, 2024		$	—			$	805
Year Ended December 31, 2023
Balance as of January 1, 2023		$	717			$	(122,072	)
Transfer to Level 2 3			—				122,130
Realized and Unrealized Net Gains (Losses):
Included in Net Income			(39	)			828
Transfers to Loans Held for Sale			—				(738	)
Balance as of December 31, 2023		$	678			$	148
Total Unrealized Net Gains Included in Net Income    Related to Assets Still Held as of December 31, 2023		$	—			$	828

1.Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of Mortgage Banking in the Company’s consolidated statements of income.

2.Realized and unrealized gains and losses related to IRLCs are reported as a component of Mortgage Banking in the Company’s consolidated statements of income.

3.In 2023, the Company concluded that the impact of the credit factor adjustment, while still unobservable, is not significant to the fair value measurement of these instruments. As a result, the fair values of interest rate swaps were classified as a Level 2 measurement.

Summary of the Significant Unobservable Inputs

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2024 and 2023, the significant unobservable inputs used in the fair value measurements were as follows:

						December 31, 2024														December 31, 2023
(dollars in thousands)		Valuation Technique		Description		Range						Weighted Average1				Fair Value				Range						Weighted Average1				Fair Value
Mortgage Servicing Rights		Discounted Cash Flow		Constant Prepayment Rate			2.98	%	-	17.63%			4.00	%		$	25,636				2.98	%	-	21.18%			4.06	%		$	26,851
				Discount Rate			9.17	%	-	10.03%			9.92	%							7.65	%	-	10.79%			9.48	%
Net Derivative Assets and Liabilities:
Interest Rate Lock Commitments		Pricing Model		Closing Ratio			93.10	%	-	99.00%			94.17	%		$	34				83.50	%	-	99.00%			85.53	%		$	148

1.Unobservable inputs for mortgage servicing rights and interest rate lock commitments were weighted by the unpaid principal balance.

Schedule of Difference between Aggregate Fair Value and Aggregate Unpaid Principal Balance

The following table reflects the difference between the aggregate fair value and the aggregate unpaid principal balance of the Company’s residential mortgage loans held for sale as of December 31, 2024 and 2023.

(dollars in thousands)		Aggregate Fair Value				Aggregate Unpaid Principal				Aggregate Fair Value Less Aggregate Unpaid Principal
December 31, 2024
Loans Held for Sale		$	2,150			$	2,109			$	41
December 31, 2023
Loans Held for Sale		$	3,124			$	3,051			$	73

Schedule of Carrying Amount, Fair Value, and Fair Value Hierarchy of Financial Instruments

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of December 31, 2024 and 2023. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For non-marketable equity securities such as Federal Home Loan Bank of Des Moines and Federal Reserve Bank stock, the carrying amount is a reasonable estimate of fair value as these securities can only be redeemed or sold at their par value and only to the respective issuing government-supported institution or to another member institution. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

										Fair Value Measurements
(dollars in thousands)		Carrying Amount				Fair Value				Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
December 31, 2024
Financial Instruments – Assets
Investment Securities Held-to-Maturity		$	4,618,543			$	3,820,882			$	116,941			$	3,703,941			$	—
Loans			13,777,756				12,908,626				—				—				12,908,626
Financial Instruments – Liabilities
Time Deposits			3,059,575				3,050,583				—				3,050,583				—
Securities Sold Under Agreements to Repurchase			100,000				101,478				—				101,478				—
Other Debt 1			550,000				538,808				—				538,808				—
December 31, 2023
Financial Instruments – Assets
Investment Securities Held-to-Maturity		$	4,997,335			$	4,253,637			$	116,531			$	4,137,106			$	—
Loans			13,698,701				12,872,260				—				—				12,872,260
Financial Instruments – Liabilities
Time Deposits			3,057,302				3,043,258				—				3,043,258				—
Securities Sold Under Agreements to Repurchase			150,490				155,461				—				155,461				—
Other Debt 1			550,000				541,466				—				541,466				—

1.Excludes finance lease obligations.

X

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset and liability.

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

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

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of information about asset and liability measured at fair value under fair value option.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-30

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-31

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-32

+ Details

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

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

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