Bank of Hawaii (BOH)

Deposits

Total deposits were $8.3 billion as of December 31, 2008, a $349.7 million or 4% increase from December 31, 2007. We experienced strong deposit growth particularly during the fourth quarter of 2008. This increase was primarily due to a $491.8 million increase in our new Bonus Rate Savings Plus product as well as a $213.5 million increase in our new interest-bearing personal money management product in 2008. This was partially offset by a $228.1 million decrease in our non-interest bearing personal checking account product. We also experienced a $163.7 million decrease in time deposits as some customers moved their deposits to more liquid savings and interest-bearing demand products, in light of current economic conditions.

Average time deposits of $100,000 or more was $946.0 million in 2008 and $976.7 million in 2007. See Note 7 to the Consolidated Financial Statements for more information.

Table 14 presents the components of our savings deposits as of December 31, 2008 and 2007.

Deposits

Total deposits were $8.3 billion as of December 31, 2008, a $349.7 million or 4% increase from December 31, 2007. We
experienced strong deposit growth particularly during the fourth quarter of 2008. This increase was primarily due to a $491.8 million increase in our new Bonus Rate Savings Plus product as well
as a $213.5 million increase in our new interest-bearing personal money management product in 2008.
This was partially offset by a $228.1 million decrease in our non-interest bearing personal checking account product. We also experienced a $163.7 million decrease in time
deposits as some customers moved their deposits to more liquid savings and interest-bearing demand products, in light of current economic conditions.

Average
time deposits of $100,000 or more was $946.0 million in 2008 and $976.7 million in 2007. See Note 7 to the Consolidated Financial Statements for more information.

Table 14
presents the components of our savings deposits as of December 31, 2008 and 2007.

Note 7.        Deposits

Time Deposits

As of December 31, 2008 and 2007, the Company's total time deposits were $1.6 billion and $1.7 billion, respectively. As of December 31, 2008, the contractual maturities of these time deposits were as follows:

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Table of Contents

The amount of time deposits with balances of $100,000 or more was $922.2 million and $997.7 million as of December 31, 2008 and 2007, respectively. As of December 31, 2008, the contractual maturities of these time deposits were as follows:

Public Deposits

As of December 31, 2008 and 2007, deposits of governmental entities of $8.5 million and $0.7 million, respectively, required collateralization by acceptable investment securities of the Company.

Note 7.        Deposits

Time Deposits

As of December 31, 2008 and 2007, the Company's total time deposits were $1.6 billion and $1.7 billion, respectively. As of
December 31, 2008, the contractual maturities of these time deposits were as follows:

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HREF="#bg73601a_main_toc">Table of Contents

The amount of time deposits with balances of $100,000 or more was $922.2 million and $997.7 million as of December 31, 2008 and 2007,
respectively. As of December 31, 2008, the contractual maturities of these time deposits were as follows:

Public Deposits

As of December 31, 2008 and 2007, deposits of governmental entities of $8.5 million and $0.7 million, respectively, required
collateralization by acceptable investment securities of the Company.

Note 7.        Deposits

Time Deposits

As of December 31, 2007 and 2006, the Company's total time deposits were $1.7 billion. As of December 31, 2007, the contractual maturities of these time deposits as of were as follows:

The amount of time deposits with balances of $100,000 or more was $997.7 million and $961.6 million as of December 31, 2007 and 2006, respectively. As of December 31, 2007, the contractual maturities of these time deposits were as follows:

Public Deposits

As of December 31, 2007 and 2006, deposits of governmental entities of $0.7 million and $4.4 million, respectively, required collateralization by acceptable investment securities of the Company.

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Note 7.        Deposits

Time Deposits

As of December 31, 2007 and 2006, the Company's total time deposits were $1.7 billion. As of December 31, 2007, the contractual maturities of these time
deposits as of were as follows:

The amount of time deposits with balances of $100,000 or more was $997.7 million and $961.6 million as of December 31, 2007 and 2006,
respectively. As of December 31, 2007, the contractual maturities of these time deposits were as follows:

Public Deposits

As of December 31, 2007 and 2006, deposits of governmental entities of $0.7 million and $4.4 million, respectively, required collateralization by
acceptable investment securities of the Company.

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Deposits

As of June 30, 2007, total deposits were $8.3 billion, an increase of $291.0 million or 4% and by $548.4 million or 7% from December 31, 2006 and June 30, 2006, respectively.  Although the number of noninterest-bearing demand deposit accounts increased, balances decreased by $97.5 million and $79.7 million from December 31, 2006 and June 30, 2006, respectively, primarily due to customers moving their balances to higher yielding products.  Interest-bearing demand and savings balances collectively increased by $345.6 million and $384.9 million from December 31, 2006 and June 30, 2006, respectively, as rates paid on these interest-bearing products have increased.  Time deposits also increased by $42.9 million and $243.2 million from December 31, 2006 and June 30, 2006, respectively, largely due to a migration of retail deposits to higher yielding time deposits.

Table 10 presents the Company’s average balance of time deposits of $100,000 or more. 

1  Certain prior period information has been reclassified to conform to current presentation.

Deposits

As of March 31, 2007, total deposits were $8.0 billion, a decrease of $70.5 million and $194.2 million from December 31, 2006 and March 31, 2006, respectively.  Although the number of noninterest-bearing demand deposit accounts increased, balances decreased by $20.2 million and $403.7 million from December 31, 2006 and March 31, 2006, respectively, primarily due to customers moving their balances to higher yielding products.  Interest-bearing demand and savings balances collectively decreased by $66.1 million and $123.8 million from December 31, 2006 and March 31, 2006, respectively.  The decrease is largely due to a migration of retail deposits to higher yielding time deposits, which increased by $15.8 million and $333.3 million from December 31, 2006 and March 31, 2006, respectively.

Table 10 presents the Company’s average balance of time deposits of $100,000 or more as of March 31, 2007, December 31, 2006, and March 31, 2006.

Note 7.   Deposits

Time deposits with balances of $100,000 or more were $961.6 million and $695.7 million as of December 31, 2006 and 2005, respectively.

Maturities of time deposits of $100,000 or more as of December 31, 2006 were as follows:

As of December 31, 2006 and 2005, deposits of governmental entities of $4.4 million and $2.6 million, respectively, required collateralization by acceptable investment securities of the Company.

Deposits

As of September 30, 2006, total deposits were $7.7 billion, a decrease of $220.3 million and $69.5 million from December 31, 2005 and September 30, 2005, respectively.  Although the number of noninterest-bearing demand deposit accounts increased, balances decreased $255.3 million from December 31, 2005 primarily due to customers moving their balances to higher yielding products.  Interest-bearing demand and savings balances decreased by $69.7 million and $222.3 million, respectively, from December 31, 2005.  The decrease is largely due to migration of retail deposits to higher yielding time deposits, which increased by $326.9 million from December 31, 2005.

Average time deposits of $100,000 or more are presented in Table 11.

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Deposits

At June 30, 2006, deposits totaled $7.8 billion, a decrease of $141.4 million from December 31, 2005 and an increase of $39.3 million from June 30, 2005.  Although the number of non-interest-bearing demand deposit accounts increased, balances decreased $158.9 million from December 31, 2005 primarily due to lower analyzed business demand and correspondent bank balances. Analyzed business demand decreased as a result of lower target balances due to increases in the earnings credit rate.  Interest-bearing demand and savings balances decreased $75.5 million and $128.2 million, respectively, from December 31, 2005.  The decrease is largely due to migration of retail deposits to higher yielding time deposits, which increased $221.2 million from December 31, 2005.

Average time deposits of $100,000 or more are presented in Table 11.

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