First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Q3 2026 Earnings Presentation
22 slides from First Hawaiian's earnings presentation, Oct 23, 2026
Slide 1: 3rd Quarter 2026 Earnings Call
3 Quarter 2026 rd Earnings Call October 23, 2026
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Th
Slide 3: TriCo Transaction Update
TriCo Transaction Update Regulatory & Shareholder Approvals Integration Planning • FDIC application submitted August 9; Hawaii DFI application August 10 • Integration Management Offices established within both banks • Federal Reserve notice and California DFPI exemption request filed August 10 • Leg
Slide 4: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights1 Q3 2026 Q2 2026 Net Income ($mm) $63.7 $73.4 • Net income: $63.7 mm Diluted EPS $0.52 $0.60 • Cost of deposits: 1.17% Net Interest Margin 3.30% 3.25% • Net interest margin increased 5 bp to 3.30% Efficiency Ratio 69.2% 56.2% • Recorded $20.3 mm provision, primarily due
Slide 5: Q3 2026 Balance Sheet Highlights
1 Q3 2026 Balance Sheet Highlights $ in millions 9/30/26 6/30/26 Assets Cash and Cash $ 1,329.9 $ 1,012.5 Equivalents2 Investment Securities - • Total loans and leases decreased $115.1 mm 2,016.9 2,094.7 AFS Investment Securities - • Total deposits increased $50.4 mm 3,347.0 3,411.7 HTM Loans and Le
Slide 6: Loans Declined $115 mm
Loans Declined $115 mm Total Loans and Leases 9/30/26 vs 6/30/26 Net Changes ($ billions) ($ millions) 14.6 14.5 14.1 Leasing 0.5 0.5 Consumer 21 0.4 Home Equity 1.2 1.2 1.2 Consumer 1.0 1.1 Leases 11 1.0 C&I 2.0 2.3 2.3 Construction 8 (4) Home Equity Residential 4.1 4.0 4.0 (35) C&I (47) Residentia
Slide 7: Cost of Deposits Down 3 bp, Total Deposits Up $50 mm
Cost of Deposits Down 3 bp Total Deposits Up $50 mm Total Deposits Deposit Composition ($ billions) ($ billions) 0.6 20.7 20.2 20.2 Time 3.4 3.3 3.2 9.1 10.5 Money 3.9 Market 4.3 4.3 Savings 6.7 Retail Commercial Public 6.1 6.2 Q3 Highlights • 117 bp cost of deposits, down 3 bp • $50 mm increase in
Slide 8: $3.1 mm Increase in Net Interest Income, 5 bp Increase in NIM
$3.1 mm Increase in Net Interest Income 5 bp Increase in NIM 210.0 3.50% 205.0 Net Interest Income and Net Interest Margin Q2 ’26 – Q3 ‘26 NIM Walk 200.0 195.0 ($ millions) 0.03% 3.30% 190.0 185.0 0.02% 180.0 171.0 174.1 3.40% 3.25% 175.0 169.3 170.0 165.0 160.0 155.0 150.0 145.0 3.30% 140.0 3.30% 1
Slide 9: Noninterest Income and Expense
Noninterest Income and Expense Noninterest Income Noninterest Expense ($ millions) ($ millions) 160.0 $4.2 mm merger- Tax Settlement 60.3 Expense related costs 24.3 57.1 56.1 130.4 125.7 129.0 $6.7 mm merger- 126.2 related costs 69.2% 55.3% 56.2% Q3 25 Q2 26 Q3 26 Q3 25 Q2 26 Q3 26 Efficiency Ratio
Slide 10: Q3 Credit Highlights
Q3 Credit Highlights Comments • Driven by $12.5 mm partial charge-off of a participated loan on a Increase in Net Charge-offs downtown Seattle office building Increase in Criticized Loans • Increase due to downgrades of four CRE loans • Approximately $12.5 mm due to office loan charge-off and approx
Slide 11: Asset Quality Remains Strong
Asset Quality Remains Strong NPAs and 90+ Allowance for days past due credit losses to to total loans, total loans and including leases leases and OREO Commercial Annualized QTD criticized loans to NCOs to average total loans and total loans and leases leases 10
Slide 12: 2026 Outlook
2026 Outlook (Does not reflect adjustments that would occur if the business combination transaction with TriCo were to close during 2026) (As of 10/23/26) Outlook Prior Outlook Loans Full year loan growth at 1% - 2% Full year loan growth at 3% - 4% Q4 NIM expected to be 3.34% - 3.35% Net Interest Fu
Slide 13: Questions
a Ae\ First Hawaiian, Inc. Questions
Slide 14: Appendix
Appendix Ae First Hawaiian, Inc.
Slide 15: Allowance for Credit Losses
Allowance for Credit Losses • $20.3 million provision expense driven by $12.5 mm partial charge-off related to a single CRE loan and approximately $7 mm related to several commercial loans downgrades • Reserve levels continue to provide for uncertainty Rollforward of the On-Balance Sheet Allowance f
Slide 16: Commercial Real Estate
Commercial Real Estate (As of 9/30/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 678 14.4% 60.9% 2.0% Hotel 466 9.9% 54.2% 6.6% Retail 1,072 22.7% 61.7% 3.3% Multi-family 958 20.3% 56.8% 17.7% Industrial 739 15.7% 57.6% 7.2% Dealer Related 461 9.8% 65.9% 0.
Slide 17: Commercial & Industrial
Commercial & Industrial (As of 9/30/26) Balances Industry % of Balances % Criticized ($ mm) Auto Dealers 783 34.0% 0.5% Retail - 0.0% 0.0% Hospitality/Hotel 90 3.9% 0.9% Food Service 39 1.7% 0.4% Transportation 96 4.1% 0.0% Other 1,298 56.3% 2.9% Total 2,306 100.0% 1.9% • Industries deemed to exhibi
Slide 18: Construction
Construction (As of 9/30/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 23 3.1% 44.0% 100.0% Hotel 58 7.8% 46.2% 0.0% Retail 3 0.4% 67.6% 0.0% Multi-family 456 61.6% 52.0% 0.0% Industrial 91 12.3% 60.9% 0.0% Dealer Related 27 3.7% 60.0% 0.0% Other 82 11.1% 5
Slide 19: Summary Income Statement
Summary Income Statement Quarter ended ($ in millions except per share data) 9/30/26 6/30/26 9/30/25 Net interest income $ 174.1 $ 171.0 $ 169.3 Provision for credit losses 20.3 5.6 4.5 Noninterest income 56.1 60.3 57.1 Noninterest expense 160.0 130.4 125.7 Pre-tax income 49.9 95.2 96.1 Tax (benefit
Slide 20: Selected Balance Sheet Items
Selected Balance Sheet Items As of ($ in millions except per share data) 9/30/26 6/30/26 9/30/25 Selected Assets Investment securities – AFS $ 2,016.9 $ 2,094.7 $ 1,986.7 Investment securities – HTM 3,347.0 3,411.7 3,594.2 Loans and leases 14,462.2 14,577.3 14,129.4 Total assets 23,764.0 23,646.0 24
Slide 21: GAAP to non-GAAP reconciliations
GAAP to non-GAAP reconciliations Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We compute our return on average tangible assets as the ratio of ne
Slide 22: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, (dollars in thousands) 2026 2026 2025 2026 2025 Income Statement Data: Net income $ 63,730 $ 73,375 $ 73,840 $ 204,889 $ 206,335 Average total stockholders' equity