Bank of Hawaii Corporation (NYSE:BOH) Q4 2022 Earnings Conference Call January 23, 2023 1:00 PM ET

Company Participants

Jennifer Lam - Senior Executive Vice President, Treasurer and Director of Investor Relations

Peter Ho - Chairman, President and CEO

Dean Shigemura - CFO

Mary Sellers - Chief Risk Officer

Conference Call Participants

Kelly Motta - KBW

Andrew Liesch - Piper Sandler

Jeff Rulis - D.A. Davidson

Laurie Hunsicker - Compass Point

Operator

Good day, and thank you for standing by. Welcome to the Bank of Hawaii Corporation Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Jennifer Lam, Senior Executive Vice President, Treasurer and Director of Investor Relations. Please go ahead.

Jennifer Lam

Thank you. Good morning, good afternoon, everyone. Thank you for joining us today.

On the call with me this morning is our Chairman, President and CEO, Peter Ho; our Chief Financial Officer, Dean Shigemura; and our Chief Risk Officer, Mary Sellers.

Before we get started, let me remind you that today's conference call will contain some forward-looking statements. And while we believe our assumptions are reasonable, there are a variety of reasons the actual results may differ materially from those projected.

During the call, we'll be referencing a slide presentation as well as the earnings release. A copy of the presentation and release are available on our website, boh.com, under Investor Relations.

And now, I'd like to turn the call over to Peter Ho.

Peter Ho

Thank you, Jennifer. Good morning or good afternoon, everyone. We appreciate your interest in Bank of Hawaii.

The bank achieved another solid quarter of performance to end the year. Loans grew 2.4% on a linked basis and 11.3% year-on-year, reflecting balanced growth across our corporate, commercial and consumer businesses.

Deposits were down 1.3% from the prior quarter, but up 1.3% from a year ago. At quarter-end, our total deposit beta was 11.5% cycle-to-date, reflecting the diversified granular and seasoned nature of our deposit base.

By segment, our deposits are 50% consumer, 42% commercial and 8% public. The only half or 47% of our consumer and commercial deposits come from accounts under $0.5 million in account size, and 73% of our deposits have a tenure of 10-plus years or more with Bank of Hawaii.