Empowering Progress: Stakeholders Shape the Future of Bank of Hawaii Through Decisive Votes

Shareholder Mandates: Unanimous Consent on Key Governance and Audit Proposals

At the recent virtual gathering, the Bank of Hawaii's shareholders demonstrated strong confidence in the institution's leadership and strategic direction by overwhelmingly endorsing all presented proposals. This included the re-election of all twelve directors to serve for another year, a clear vote of approval for the continuity of the existing board. Executive compensation received advisory support, with approximately 59% of votes cast in favor, indicating general satisfaction with the remuneration strategy. Furthermore, Ernst & Young's appointment as the independent auditor for the fiscal year 2026 was decisively ratified, garnering roughly 96% of the votes. This robust participation, with 84% of outstanding shares represented, underscores the active engagement of the shareholder base in the bank's governance.

Voter Turnout and Preliminary Outcomes: A Testament to Investor Engagement

The virtual assembly saw a substantial turnout, with over 33.4 million shares actively participating, accounting for 84% of the total shares eligible to vote as of the record date, February 27, 2026. This high level of engagement reflects the significant interest and investment of shareholders in the bank's future. Preliminary results quickly confirmed the successful election of all director nominees, each securing more than 95% of the votes. The advisory measure on executive pay passed with a 59% approval rate, while the crucial decision to retain Ernst & Young as auditors was backed by an impressive 96% majority. These outcomes, as announced by Board Chair Raymond Vara, solidify the strategic path forward, with official documentation to follow via an 8-K filing with the Securities and Exchange Commission.

Board Composition and Leadership Evolution: Fresh Faces and Veteran Expertise

The re-elected board comprises a diverse group of seasoned professionals, including John Erickson, Joshua Feldman, Michelle Hulst, Kent Lucien, Elliot Mills, Alicia Moy, Victor Nichols, James Polk, Dana Tokioka, Raymond Vara, Suzanne Vares-Lum, and Robert Wo. Their collective expertise is expected to guide the bank through its next phase of development. A significant leadership transition was also highlighted, with the departure of long-serving Chairman and CEO Peter Ho, who retired after 16 years of distinguished service. James Polk, expressing deep gratitude and a sense of responsibility, assumed the CEO role, signaling a new chapter for the bank. Concurrently, Bradley Satenberg was elevated to Vice Chair and Chief Financial Officer in July 2025, succeeding the retiring Dean Shigemura. Satenberg's seamless transition, having served as Shigemura's deputy, ensures continuity in financial stewardship.

Robust Financial Performance in 2025: A Year of Growth and Stability

The bank's financial health in 2025 was robust, as detailed by CEO James Polk. The institution reported diluted earnings per common share of $4.63 and a net income of $206 million. Total assets reached $24.2 billion by year-end, driven by consistent growth in net interest income and margin throughout all quarters. Deposits and loans also saw favorable increases, closing the year at $21.2 billion and $14.1 billion respectively. Polk underscored the bank's strong asset quality and liquidity, further supported by the maintenance of a 70-cent quarterly dividend per share and the repurchase of five million shares in the fourth quarter, reflecting a solid financial foundation and shareholder-friendly policies.

Strategic Expansion and Technological Advancement: Enhancing Reach and Efficiency

Demonstrating its commitment to both physical presence and technological innovation, Bank of Hawaii made significant investments in its infrastructure during 2025. This included the construction or renovation of five branches, notably a new facility in Lahaina to replace one lost in the 2023 Maui wildfires, symbolizing resilience and commitment to affected communities. The bank also expanded its international footprint by establishing a new West Pacific regional headquarters in Tamuning, Guam. On the technological front, the introduction of generative artificial intelligence tools marked a forward-looking step, designed to optimize operational efficiency, elevate customer service standards, and enrich the employee experience.

Dedicated Community Engagement and Charitable Initiatives: Fostering Local Impact

Beyond its financial and operational successes, Bank of Hawaii remains deeply embedded in community welfare. CEO Polk highlighted various initiatives, such as providing financial literacy education to schoolchildren, offering mentorship to small business owners, and organizing environmental volunteer activities through the "Bankoh Blue Crew." The employee-driven Live Kōkua giving campaign raised an impressive $623,000 in 2025, complementing the Bank of Hawaii Foundation's support for over 47 local non-profit organizations. These efforts underscore the bank's dedication to making a tangible, positive impact on the communities it serves, reflecting its enduring values and optimistic outlook for continued success in 2026.

Bank of Hawaii: A Legacy of Financial Stewardship and Community Dedication

Bank of Hawaii, operating under the ticker NYSE: BOH, stands as a prominent regional commercial bank. Established in Honolulu, Hawaii, in 1897 by founders Charles Montague Cooke and Peter Cushman Jones, it holds the distinction of being one of the oldest financial institutions in the U.S. West Coast region. Known for its stability and unwavering community focus, the bank functions as the primary subsidiary of the publicly traded Bank of Hawaii Corporation, offering a comprehensive array of banking services for both personal and business clients.