First Hawaiian (FHB) investor relations material

Executive summary

• Net income for Q2 2026 was $73.4 million, or $0.60 per diluted share, up from $67.8 million in Q1 2026, with strong loan growth and stable credit quality.

• Announced partnership and acquisition with TriCo Bancshares/Tri Counties Bank to build a leading Pacific banking franchise and enhance long-term shareholder value.

• Local economic indicators remain positive, with low unemployment, increased tourism, and rising housing prices.

• Quarterly cash dividend of $0.26 per share declared, payable August 28, 2026.

• Asset quality remained strong, with allowance for credit losses at 1.15% of total loans and leases and low non-performing asset ratios.

Financial highlights

• Net interest income was $171 million, up $3.5 million from the prior quarter, with noninterest income at $60.3 million, driven by higher BOLI income, excise tax refund, and swap fees.

• Net interest margin improved to 3.25%, up six basis points sequentially.

• Noninterest expense was $130.4 million, including $4.2 million in TriCo transaction costs.

• Efficiency ratio improved to 56.2% from 57.8% in Q1 2026.

• Return on average tangible equity was 16.34%; return on average assets was 1.23%.

Outlook and guidance

• Full-year loan growth expected in the 3%-4% range, with NIM outlook revised to 3.24%-3.25% and Q3 NIM expected at 3.27%.

• Non-interest income guidance unchanged at $220 million for the year.

• Reported expenses projected between $515 million and $520 million, excluding TriCo transaction costs.

• Management highlighted disciplined execution and customer trust as drivers of performance.

• Forward-looking statements caution about risks from economic and capital market conditions and uncertainties related to the TriCo transaction.