Bank of Hawaii Corporation (NYSE:BOH) Q3 2023 Earnings Call Transcript

Kelly Motta: Got it. That’s helpful.

Dean Shigemura: And keep in mind that we did add another $500 million in early October.

Kelly Motta: Right. Got it. Got it. And then I know this is a bit of a ways off, but how should we be thinking about your margin when if and when the Fed cuts rates, the KBW baseline, I think, we do have a rate cut or two at the end of the year. Just wondering if with those received floating now put into place if in the implementation of a rate cut, if there could be a near-term drag on margin from that when that — if and when that happens? Thanks.

Dean Shigemura: We don’t expect, in fact, we continue to expect that we’ll benefit from lower rates on the short end from that rate cuts.

Kelly Motta: Got it. Thanks for entertaining the question. I’ll step back. Appreciate it.

Peter Ho: Great. Thanks, Kelly.

Operator: Thank you. That concludes the question-and-answer session. At this time, I would like to turn it back to Cindy Wyrick for closing remarks.

Cindy Wyrick: Well, thank you, everyone, for joining us today and for your continued interest in Bank of Hawaii. As always, please feel free to reach out to either Chang or to me if you have any additional questions or need any further clarification on the topics discussed today. Thanks again, everyone, and have a great day.

Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.