First Hawaiian (FHB) investor relations material

Executive summary

• Q3 net income was $63.7 million, or $0.52 per diluted share; results included a $24.3 million tax-settlement expense and a $31.0 million tax benefit.

• Net interest margin rose 5 bps to 3.30%, while loans and leases fell $115.1 million; FY loan-growth guidance was lowered to 1%-2%.

• TriCo closing remained targeted by year-end 2026, subject to approvals, with integration planning underway.

Financial highlights

• Net interest income was $174.1 million, up $3.1 million QoQ; noninterest income was $56.1 million, down $4.2 million QoQ.

• Noninterest expense rose $29.6 million QoQ to $160.0 million, including $24.3 million in tax-settlement expense and $6.7 million in merger costs; efficiency ratio was 69.2%.

• Deposits increased $50.4 million QoQ to $20.20 billion; total assets were $23.76 billion at Sept. 30.

• Nine-month net income was $204.9 million versus $206.3 million YoY; diluted EPS was $1.67 versus $1.64.

Outlook and guidance

• FY loan-growth guidance fell to 1%-2% from 3%-4%; guidance excludes any adjustments from a TriCo combination closing in 2026.

• Q4 NIM guidance is 3.34%-3.35%; FY NIM outlook increased to 3.26%-3.27% from 3.24%-3.25%.

• FY noninterest income outlook remains ~$220 million; FY expenses are $510-$515 million, excluding merger costs and Q3 tax-settlement expense.

• Effective tax-rate outlook is unchanged at -22.5%; Q4 merger-related costs are expected to be ~$25 million.

• Fixed-rate asset cash flows are expected at ~$400 million per quarter, with 160-170 bps spreads on repricing and potential further margin accretion if rates remain flat.