First Hawaiian, Inc. (FHB) 10-Year Financial Performance & Capital Metrics

FHB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutFirst Hawaiian, Inc. operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and other deposit accounts. It also provides residential and commercial mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, and small business loans and leases, as well as commercial lease and auto dealer financing. In addition, the company offers personal installment, credit card, individual investment and financial planning, insurance protection, trust and estate, private banking, retirement planning, treasury, and merchant processing services. It operates a network of 54 branches, which include 49 in Hawaii, 3 in Guam, and 2 in Saipan. The company was formerly known as BancWest Corporation and changed its name to First Hawaiian, Inc. in April 2016. First Hawaiian, Inc. was founded in 1858 and is headquartered in Honolulu, Hawaii.Show more

Net Interest Income $623M -2.1%
Total Revenue $1.13B +3.6%
Net Income $230M -2.1%
Return on Equity 9.02% -8.8%
Net Interest Margin 2.61% +2.4%
Efficiency Ratio 41.29% -3.9%
ROA 0.94% -0.6%
Equity / Assets 10.98% +10.1%
Book Value per Share 20.40 +4.9%
Tangible BV/Share 12.60 +8.5%
Debt/Equity 0.10 -52.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 41.3% efficiency ratio
✓Well capitalized: 11.0% equity/assets
✓Healthy dividend yield of 4.0%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.57%

5Y6.12%

3Y16.88%

TTM-

Profit (Net Income) CAGR

10Y0.6%

5Y-4.15%

3Y-4.68%

TTM14.97%

EPS CAGR

10Y1.45%

5Y-3.42%

3Y-4.42%

TTM17.14%

ROCE

10Y Avg11.24%

5Y Avg10.07%

3Y Avg10.65%

Latest9.36%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	593.12M	18.35	83.41	45.45%	2.94%	11.23%	8.39%	0.17
CWBCCommunity West Bancshares	429.58M	22.42	49.82	51.89%	4.67%	6.95%	4%	0.56
GBCIGlacier Bancorp, Inc.	5.98B	45.99	27.38	11.64%	15.27%	6.57%	3.51%	1.18
GBFHGBank Financial Holdings Inc.	465.35M	32.37	23.29	2%	30.99%	11.8%	5.65%	0.22
BOHBank of Hawaii Corporation	2.76B	69.39	20.05	6.6%	14.57%	10.28%	6.11%	0.45
HFWAHeritage Financial Corporation	809.87M	23.85	19.23	4.64%	13.64%	6.33%	7.54%	0.47
HTBKHeritage Commerce Corp	758.07M	12.36	18.73	3.35%	16.12%	6.19%	4.93%	0.06
NRIMNorthrim BanCorp, Inc.	612.57M	27.73	16.70	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	461.32M	491.67M	528.8M	566.32M	573.4M	535.73M	530.56M	613.55M	636.13M	622.74M
NII Growth %	0.04%	0.07%	0.08%	0.07%	0.01%	-0.07%	-0.01%	0.16%	0.04%	-0.02%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	483.85M	518.52M	570.77M	646.05M	678.69M	582.76M	549.31M	663.22M	923.58M	980.04M
Interest Expense	22.52M	26.85M	41.96M	79.73M	105.29M	47.02M	18.75M	49.67M	287.45M	357.31M
Loan Loss Provision	9.9M	8.6M	18.5M	22.18M	13.8M	121.72M	-39M	1.39M	26.63M	14.75M
Non-Interest Income+	195.14M	203.58M	182.24M	154.13M	162.57M	175.27M	159.67M	148.53M	169.19M	151.97M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	678.99M	722.1M	753.01M	800.18M	841.26M	758.02M	708.98M	811.75M	1.09B	1.13B
Revenue Growth %	0.03%	0.06%	0.04%	0.06%	0.05%	-0.1%	-0.06%	0.14%	0.35%	0.04%
Non-Interest Expense	303.34M	314.82M	324.19M	340.09M	340.48M	345.56M	380.24M	409.48M	469.51M	467.36M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	343.23M	371.83M	368.36M	358.18M	381.7M	243.72M	349M	351.21M	309.17M	292.6M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0%	0.08%	-0.01%	-0.03%	0.07%	-0.36%	0.43%	0.01%	-0.12%	-0.05%
Pretax Income+	343.23M	371.83M	368.36M	358.18M	381.7M	243.72M	349M	351.21M	309.17M	292.6M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	129.45M	141.65M	184.67M	93.78M	97.31M	57.97M	83.26M	85.53M	74.19M	62.47M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	213.78M	230.18M	183.68M	264.39M	284.39M	185.75M	265.74M	265.69M	234.98M	230.13M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	0.08%	-0.2%	0.44%	0.08%	-0.35%	0.43%	-0%	-0.12%	-0.02%
Net Income (Continuing)	213.78M	230.18M	183.68M	264.39M	284.39M	185.75M	265.74M	265.69M	234.98M	230.13M
EPS (Diluted)+	1.53	1.65	1.32	1.93	2.13	1.43	2.05	2.08	1.84	1.79
EPS Growth %	-0.01%	0.08%	-0.2%	0.46%	0.1%	-0.33%	0.43%	0.01%	-0.12%	-0.03%
EPS (Basic)	1.53	1.65	1.32	1.93	2.14	1.43	2.06	2.08	1.84	1.80
Diluted Shares Outstanding	139.46M	139.49M	139.66M	137.11M	133.39M	130.22M	129.54M	127.98M	127.92M	128.33M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.65B	1.05B	1.03B	1B	694.02M	1.04B	1.26B	526.62M	1.74B	1.17B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Total Investments+	14.61B	16.46B	17.38B	17.43B	17.16B	18.91B	21B	21.12B	20.12B	19.53B
Investments Growth %	-0.02%	0.13%	0.06%	0%	-0.02%	0.1%	0.11%	0.01%	-0.05%	-0.03%
Long-Term Investments	10.59B	11.38B	12.14B	12.93B	13.08B	18.91B	12.57B	17.97B	17.86B	19.52B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	995.49M	995.49M	995.49M	995.49M	995.49M	995.49M	995.49M	995.49M	995.49M	995.49M
Intangible Assets	21.43M	16.81M	13.2M	16.16M	12.67M	10.73M	8.3M	6.56M	5.7M	5.08M
PP&E (Net)	305.1M	300.79M	289.21M	305M	316.88M	322.4M	318.45M	280.36M	281.46M	288.53M
Other Assets	732.43M	792.31M	793.6M	893.23M	944.76M	1.07B	1.12B	1.27B	1.33B	1.32B
Total Current Assets	6.71B	6.17B	6.32B	5.55B	4.81B	1.36B	9.98B	4.05B	4.46B	1.69B
Total Non-Current Assets	12.64B	13.49B	14.23B	15.14B	15.35B	21.31B	15.01B	20.52B	20.47B	22.14B
Total Assets+	19.35B	19.66B	20.55B	20.7B	20.17B	22.66B	24.99B	24.58B	24.93B	23.83B
Asset Growth %	0.07%	0.02%	0.05%	0.01%	-0.03%	0.12%	0.1%	-0.02%	0.01%	-0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	216.2M	9.19M	34K	600.03M	1B	200.01M	0	75M	500M	250M
Net Debt	-2.43B	-1.04B	-1.03B	-403.61M	306M	-840.93M	-1.26B	-451.62M	-1.24B	-920.19M
Long-Term Debt	0	0	0	600M	200M	200M	0	0	0	0
Short-Term Debt	216.15M	9.15M	0	0	800M	0	0	75M	500M	250M
Other Liabilities	203.71M	248.72M	270.54M	292.84M	-56.76M	490.99M	519.35M	441.61M	607.75M	541.35M
Total Current Liabilities	16.41B	16.94B	17.75B	17.28B	17.38B	19.23B	21.82B	21.87B	21.83B	20.67B
Total Non-Current Liabilities	203.75M	248.76M	270.57M	892.86M	143.26M	691M	519.35M	441.61M	607.75M	541.35M
Total Liabilities	16.62B	17.19B	18.02B	18.17B	17.53B	19.92B	22.34B	22.31B	22.44B	21.21B
Total Equity+	2.74B	2.48B	2.53B	2.52B	2.64B	2.74B	2.66B	2.27B	2.49B	2.62B
Equity Growth %	0.02%	-0.1%	0.02%	-0%	0.05%	0.04%	-0.03%	-0.15%	0.1%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.08%	0.09%	0.07%	0.1%	0.11%	0.07%	0.1%	0.11%	0.1%	0.09%
Book Value per Share	19.63	17.75	18.13	18.41	19.79	21.07	20.51	17.73	19.44	20.40
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	1.4M	1.4M	1.4M	1.4M	1.4M	1.41M	1.41M	1.41M	1.42M
Additional Paid-in Capital	0	2.48B	2.49B	2.5B	2.5B	2.51B	2.53B	2.54B	2.55B	2.56B
Retained Earnings	0	78.85M	139.18M	291.92M	437.07M	473.97M	604.53M	736.54M	837.86M	934.05M
Accumulated OCI	-51.26M	-88.01M	-96.38M	-132.19M	-31.75M	31.6M	-121.69M	-639.25M	-530.21M	-463.99M
Treasury Stock	0	0	-282K	-132.13M	-270.14M	-276.89M	-355M	-368.03M	-371.25M	-414.37M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	142.6M	220.09M	269.77M	351.41M	296.5M	209.51M	417.13M	430.61M	255.03M	317.51M
Operating CF Growth %	-0.42%	0.54%	0.23%	0.3%	-0.16%	-0.29%	0.99%	0.03%	-0.41%	0.25%
Net Income	213.78M	230.18M	183.68M	264.39M	284.39M	185.75M	265.74M	265.69M	234.98M	230.13M
Depreciation & Amortization	25.68M	52.18M	62.02M	54.9M	67.82M	63.07M	51.84M	56.75M	42.77M	38.01M
Deferred Taxes	-15.59M	3.32M	58.92M	-3.6M	17.06M	-19.4M	14.12M	22.14M	-13.66M	-11.29M
Other Non-Cash Items	-1.85M	-18.73M	11.35M	44.76M	16.63M	102.54M	-30.08M	3.75M	20.92M	37.89M
Working Capital Changes	-79.41M	-51.36M	-51.49M	-15.23M	-97.23M	-132.49M	102.4M	71.99M	-39.6M	10.88M
Cash from Investing+	243.83M	-1.9B	-971.08M	-257.81M	375.21M	-2.1B	-2.38B	-965.1M	1.03B	548.55M
Purchase of Investments	-2.95B	-3.14B	-1.11B	-195.49M	-1.33B	-4.12B	-4.51B	-1.05B	-133.21M	-333.83M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-693.3M	-790.13M	-756.33M	-849.54M	-116.3M	-100.97M	299.15M	-1.14B	-218.77M	-22.62M
Cash from Financing+	1B	78.45M	683.89M	-124.61M	-981.34M	2.24B	2.18B	-197.36M	-66.92M	-1.44B
Dividends Paid	-164.23M	-447M	-124.93M	-131.04M	-138.25M	-135.1M	-134.13M	-132.59M	-132.65M	-132.8M
Share Repurchases	0	0	0	-131.8M	-136.24M	-5M	-75M	-9.48M	0	-40M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	1000K	-10K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	1.34B	732.46M	817.98M	-461.76M	-706.84M	2.78B	2.59B	-130.29M	-359.28M	-1.01B
Net Change in Cash+	1.39B	-1.6B	-17.41M	-31.01M	-309.62M	346.93M	217.53M	-731.85M	1.21B	-569.71M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	1.26B	2.65B	1.05B	1.03B	1B	694.02M	1.04B	1.26B	526.62M	1.74B
Cash at End	2.65B	1.05B	1.03B	1B	694.02M	1.04B	1.26B	526.62M	1.74B	1.17B
Interest Paid	22.09M	25.87M	36.63M	80.38M	102.46M	52.87M	23M	44.33M	262.19M	362.52M
Income Taxes Paid	187.1M	190.39M	145.07M	43M	70.51M	53.27M	55.35M	24.69M	54.02M	36.27M
Free Cash Flow+	123.48M	204.55M	259.71M	309.09M	267.15M	176.12M	396.67M	417.32M	239.04M	288.74M
FCF Growth %	-0.42%	0.66%	0.27%	0.19%	-0.14%	-0.34%	1.25%	0.05%	-0.43%	0.21%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.9%	8.83%	7.33%	10.46%	11.01%	6.9%	9.84%	10.79%	9.88%	9.02%
Return on Assets (ROA)	1.14%	1.18%	0.91%	1.28%	1.39%	0.87%	1.12%	1.07%	0.95%	0.94%
Net Interest Margin	2.38%	2.5%	2.57%	2.74%	2.84%	2.36%	2.12%	2.5%	2.55%	2.61%
Efficiency Ratio	44.68%	43.6%	43.05%	42.5%	40.47%	45.59%	53.63%	50.44%	42.97%	41.29%
Equity / Assets	14.14%	12.6%	12.32%	12.2%	13.09%	12.11%	10.63%	9.23%	9.97%	10.98%
Book Value / Share	19.63	17.75	18.13	18.41	19.79	21.07	20.51	17.73	19.44	20.4
NII Growth	3.95%	6.58%	7.55%	7.09%	1.25%	-6.57%	-0.97%	15.64%	3.68%	-2.1%
Dividend Payout	76.82%	194.2%	68.01%	49.56%	48.61%	72.73%	50.48%	49.9%	56.45%	57.71%

Revenue by Segment

	2018	2019	2020	2021	2022	2024
Credit and Debit Card	-	-	-	-	-	62.1M
Credit and Debit Card Growth	-	-	-	-	-	-
Fiduciary and Trust	-	-	-	-	-	38.31M
Fiduciary and Trust Growth	-	-	-	-	-	-
Financial Service, Other	-	-	-	-	-	37.01M
Financial Service, Other Growth	-	-	-	-	-	-
Deposit Account	-	-	-	-	-	31.09M
Deposit Account Growth	-	-	-	-	-	-
Retail Banking	-	-	-	477.33M	530.31M	-
Retail Banking Growth	-	-	-	-	11.10%	-
Commercial Banking	-	-	-	235.78M	234.67M	-
Commercial Banking Growth	-	-	-	-	-0.47%	-
Treasury and Other	-	-	-	2.37M	28.09M	-
Treasury and Other Growth	-	-	-	-	1085.90%	-
Retail Banking Business	537.82M	508.44M	491.49M	-	-	-
Retail Banking Business Growth	-	-5.46%	-3.33%	-	-	-
Commercial Banking Business	193.25M	214.86M	211.5M	-	-	-
Commercial Banking Business Growth	-	11.18%	-1.56%	-	-	-
Treasury And Other Business	14.24M	42.63M	30.12M	-	-	-
Treasury And Other Business Growth	-	199.38%	-29.35%	-	-	-

Frequently Asked Questions

Valuation & Price

First Hawaiian, Inc. (FHB) has a price-to-earnings (P/E) ratio of 14.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

First Hawaiian, Inc. (FHB) grew revenue by 3.6% over the past year. Growth has been modest.

Yes, First Hawaiian, Inc. (FHB) is profitable, generating $258.8M in net income for fiscal year 2024 (20.3% net margin).

Dividend & Returns

Yes, First Hawaiian, Inc. (FHB) pays a dividend with a yield of 3.96%. This makes it attractive for income-focused investors.

First Hawaiian, Inc. (FHB) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.

Industry Metrics

First Hawaiian, Inc. (FHB) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

First Hawaiian, Inc. (FHB) has an efficiency ratio of 41.3%. This is excellent, indicating strong cost control.

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