First Hawaiian restructures $293M AFS portfolio; projects $8.6M NII boost in 2025

FIRST HAWAIIAN, INC.

Sold $293M lower-yielding AFS debt securities with 1.92% avg yield; realized $19.7M after-tax loss.
Reinvested proceeds in securities yielding 5.01% (309 bps higher); avg duration 4.1 years vs 3.2 sold.
One-time pre-tax loss of $26.2M recognized in Q4 2024; breakeven estimated at 3 years.
Projected to increase net interest income by ~$8.6M and NIM by ~4 bps in 2025; $0.5M in Q4 2024.
No impact on tangible equity; company remains well-capitalized under regulatory guidelines.

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