First Hawaiian Inc 2025年度报告

Table of Contents 0206Where Community Commitment Begins with “YES”072025 by the Numbers08Senior Management10Senior OfficersBoard of Directors (Inside Back Cover)Shareholder Information (Outside Back Cover)CEO’s Message About This Year’s Theme “It All Starts with Yes” reflects howFirst Hawaiian Bank turns commitmentinto action through its people. This year’s cover features employees volunteering ata Community Care event in support of the Kuilei Cliffsnonprofit, helping restore, preserve, and beautify theDiamond Head area on O‘ahu, Hawai‘i. It is a visualreminder that progress begins when employees stepforward to serve. From hands-on volunteer efforts tolong-term investments in our communities, saying “yes”to partnership and service creates lasting impact andstrengthens the islands we call home. First Hawaiian, Inc. (NASDAQ: FHB) is a bank holding company, incorporatedin the State of Delaware and headquartered in Honolulu, Hawai'i. Its whollyownedbank subsidiary,First Hawaiian Bank(www.fhb.com),foundedin 1858, is Hawai'i's oldest financial institution. As of December 31, 2025,FHB was the largest bank in Hawai'i in terms of loans and leases and netincome. The Bank has branches located throughout the State of Hawai'i,Guam and Saipan, and offers a comprehensive suite of banking servicesto consumer and commercial customers including loans, deposit products,wealth management, insurance, trust, retirement planning, credit card andmerchant processing services. For more information about First Hawaiian, Inc., visitfhb.com. GROWTHFuture of DEAR FELLOW STOCKHOLDERS, As we close 2025, I am proud to reflect on a year of exceptional performance at First HawaiianBank: a year in which we not only navigated a complex economic environment, but clearly out-performed our peers, strengthened our organization, and advanced our position as Hawai‘i’spremier relationship bank. Throughout the year, we remained focused on disciplined execution of our strategy, deliveringstrong financial results while continuing to invest thoughtfully in our people, our customers, andthe communities we serve. The result was a year defined by strong performance, momentum,and meaningful progress. costs. Public sector projects, including major transportationinvestments such as Honolulu’s Skyline rail system, continuedto support multi-year construction activity and relatedemployment. Together, these investments helped sustainjob stability and ongoing development across the islands,even as the pace of new projects moderated. Hawai‘i’s Economic Environment Hawai‘i’s economy in 2025 continued to demonstrateresilience amid a dynamic and often uncertain macro-economic backdrop. While shifting economic policy, elevatedinterest rates, and inflationary pressures influenced bothconsumer and business sentiment, the state’s economyremained fundamentally stable, supported by diversifiedeconomic activity and sustained demand across key sectors. Housing affordability remained a significant challenge.Elevated interest rates, higher insurance and constructioncosts, and limited housing supply continued to weigh onaffordability, reinforcing the importance of thoughtfullending, financial guidance, and long-term solutionstailored to Hawai‘i’s unique market dynamics. Tourism continued to normalize following post-pandemicadjustments, with visitor activity fluctuating from prior-yearlevels while remaining a critical driver of employment andeconomic activity statewide. While total visitor arrivals weremixed and slightly lower in parts of the year, visitor spendingremained relatively resilient, supported by higher per-visitorexpenditures. Shifts in travel patterns and increased pricesensitivity persisted, but the industry continued to serve asa reliable pillar of Hawai‘i’s economy. The labor market remained relatively tight throughout theyear, with Hawai‘i’s unemployment rate generally in thelow-3% range, well below the national rate, which at timesreached the mid-4% range. Inflation continued to impactthe economy, with consumer prices in the Honolulu arearising at an annual rate of approximately 2.3% to 2.8%,generally in line with or slightly above national trends.Together, these dynamics underscored the importanceof local financial institutions with deep market knowledge,strong balance sheets, and a commitment to thecommunities they serve, qualities that continue todefine First Hawaiian Bank. At the same time, construction and infrastructureinvestment provided meaningful economic support acrossthe state, supported by both private development andpublic investment. Residential permitting increased duringthe year, reflecting continued efforts to address long-termhousing needs despite higher interest rates and construction At the same time, we reached an important milestonewith the launch of our new mobile banking app. Thisplatform represents a significant step forward in deliveringa modern, intuitive, and secure digital experience. The newapp enhances performance,