FIRST HAWAIIAN, INC.

Listed Company

FHBCIK 0000036377NasdaqLarge AcceleratedState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$276.27M

Total Assets

$23.96B

Equity

$2.77B

Shares Out

122.69M

Op. Cash Flow

$335.07M

Business

First Hawaiian, Inc. is a bank holding company that owns and operates First Hawaiian Bank and provides commercial and consumer banking services. It offers deposit products, commercial and consumer lending (including mortgage and auto financing), credit cards, merchant processing, wealth management, trust and private banking, and investment and insurance services. The company operates through three segments: Retail Banking, Commercial Banking and Treasury and Other. It serves customers across Hawaii, Guam and Saipan through a network of branches and through online and mobile distribution channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and lease financing	774	806	748	510	444
Available-for-sale investment securities	54	54	74	87	101
Held-to-maturity investment securities	65	69	73	55	—
Other	58	50	28	11	3
Total interest income	951	980	924	663	549
Deposits	279	336	258	49	14
Short-term and long-term borrowings	7	20	26	470,000	5
Other	850,000	2	3	—	—
Total interest expense	288	357	287	50	—
Net interest income	664	623	636	614	531
Provision for credit losses	27	15	27	1	−39
Net interest income after provision for credit losses	637	608	609	612	570
Service charges on deposit accounts	32	31	30	29	28
Credit and debit card fees	62	64	64	66	64
Other service charges and fees	53	46	37	37	39
Trust and investment services income	37	38	38	36	35
Bank-owned life insurance	21	18	15	1	13
Investment securities gains (losses), net	37,000	−26	792,000	—	102,000
Other	13	14	15	10	7
Total noninterest income	217	186	201	180	185
Salaries and employee benefits	246	236	226	199	182
Contracted services and professional fees	60	61	66	70	63
Occupancy	30	29	30	31	29
Equipment	56	54	45	35	25
Regulatory assessment and fees	12	19	32	10	8
Advertising and marketing	9	8	8	8	6
Card rewards program	33	34	32	31	25
Other	53	61	63	57	66
Total noninterest expense	499	501	501	440	405
Income before provision for income taxes	354	293	309	351	349
Provision for income taxes	78	62	74	86	83
Net income	276	230	235	266	266
Basic earnings per share	2.21	1.8	1.84	2.08	2.06
Diluted earnings per share	2.2	1.79	1.84	2.08	2.05
Basic weighted-average outstanding shares	125	128	128	127	129
Diluted weighted-average outstanding shares	126	128	128	128	130

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	229	258	185	298	247
Interest-bearing deposits in other banks	1,249	912	1,555	229	1,012
Available-for-sale, at fair value (amortized cost: $2,246,716 as of December 31, 2025 and $2,190,448 as of December 31, 2024)	2,076	1,927	2,255	3,151	8,428
Held-to-maturity, at amortized cost (fair value: $3,188,775 as of December 31, 2025 and $3,262,509 as of December 31, 2024)	3,533	3,791	4,041	4,321	—
Loans held for sale	1	—	190,000	—	538,000
Loans and leases	14,313	14,408	14,353	14,092	12,962
Less: allowance for credit losses	168	160	157	144	157
Net loans and leases	14,144	14,248	14,197	13,948	12,805
Premises and equipment, net	303	289	281	280	318
Accrued interest receivable	78	80	84	78	63
Bank-owned life insurance	513	492	480	473	472
Goodwill	995	995	995	995	995
Mortgage servicing rights	5	5	6	7	8
Other assets	828	832	846	797	643
Total assets	23,955	23,828	24,926	24,577	24,992
Interest-bearing	13,968	13,347	13,749	12,824	12,422
Noninterest-bearing	6,547	6,975	7,584	8,865	9,394
Total deposits	20,516	20,322	21,333	21,689	21,816
Short-term borrowings	0	250	500	75	—
Retirement benefits payable	99	97	103	103	134
Other liabilities	571	541	504	442	385
Total liabilities	21,186	21,211	22,440	22,308	22,335
Commitments and contingent liabilities (Note 17)	—	—	—	—	—
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,184,584 / 122,689,256 as of December 31, 2025; issued/outstanding: 141,748,847 / 126,422,898 as of December 31, 2024)	1	1	1	1	1
Additional paid-in capital	2,577	2,560	2,548	2,538	2,528
Retained earnings	1,079	934	838	737	605
Accumulated other comprehensive loss, net	−368	−464	−530	−639	−122
Treasury stock (19,495,328 shares as of December 31, 2025 and 15,325,949 shares as of December 31, 2024)	−519	−414	−371	−368	−355
Total stockholders' equity	2,769	2,617	2,486	2,269	2,657
Total liabilities and stockholders' equity	23,955	23,828	24,926	24,577	24,992

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	276	230	235	266	266
Depreciation, amortization and accretion, net	34	38	43	57	52
Deferred income tax provision (benefit)	−337,000	−11	−14	22	14
Stock-based compensation	16	12	10	10	13
Gain on property insurance proceeds	—	−3	—	—	—
Other (gains)	65,000	−164,000	−6	3	−4
Originations of loans held for sale	−17	−38	−21	−16	−87
Proceeds from sales of loans held for sale	15	38	22	15	100
Net losses (gains) on investment securities	−37,000	26	−792,000	—	−102,000
Premium paid on cash flow hedge	−3	—	—	—	—
Amortization of premium on cash flow hedge	443,000	—	—	—	—
Net decrease (increase) in other assets	22	18	−40	18	−8
Net (decrease) increase in other liabilities	−35	−7	559,000	54	111
Net cash provided by operating activities	335	318	255	431	417
Proceeds from maturities and principal repayments	278	293	432	874	1,815
Proceeds from calls and sales	85	336	511	1	11
Purchases	−419	−292	—	−938	−4,429
Proceeds from maturities and principal repayments	288	287	311	351	—
Proceeds from calls	5	2	8	585,000	—
Proceeds from sales	16	15	131	8	28
Purchases	−46	−42	−133	−31	−80
Net increase in loans and leases resulting from originations and principal repayments	207	−62,000	−178	−914	595
Proceeds from sales of loans originated for investment	—	28	—	288,000	2
Purchases of loans	−116	−59	−58	−236	−310
Proceeds from bank-owned life insurance	1	6	8	—	8
Purchases of bank-owned life insurance	−2	—	—	—	—
Proceeds from property insurance	—	3	—	—	—
Purchases of premises, equipment and software	−32	−29	−16	−13	−20
Proceeds from sales of premises and equipment	—	—	9	17	4
Other	—	104,000	34,000	−4	141,000
Net cash provided by investing activities	264	549	1,025	−965	−2,376
Net increase (decrease) in deposits	193	−1,010	−356	−127	2,588
Proceeds from short-term borrowings	—	250	—	—	—
Repayment of short-term borrowings	−250	−500	—	—	—
Net (decrease) increase in other short-term borrowings	—	—	−75	−75	—
Proceeds from long-term borrowings	—	—	500	—	—
Dividends paid	−131	−133	−133	−133	−134
Stock tendered for payment of withholding taxes	−4	−3	−3	−4	−3
Proceeds from employee stock purchase plan	275,000	245,000	308,000	379,000	547,000
Common stock repurchased	−100	−40	—	−9	−75
Stock repurchase excise tax paid in current year	−341,000	—	—	—	—
Net cash used in financing activities	−292	−1,436	−67	−197	2,177
Net increase (decrease) in cash and cash equivalents	308	−570	1,213	−732	218
Interest paid	293	363	262	44	23
Operating lease right-of-use assets obtained in exchange for new lease obligations	4	5	5	5	32
Transfers to loans held for sale from loans and leases	—	27	1	−546,000	2
Obligation to fund low-income housing partnerships	95	57	63	8	36
Stock repurchase excise tax settled in subsequent year	922,000	341,000	—	—	—

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