Exhibit 12
Bank of Hawaii Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
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| Six Months Ended |
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| June 30, |
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(dollars in thousands) |
| 2007 |
| 2006 |
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Earnings: |
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Income Before Provision for Income Taxes |
| $ | 148,054 |
| $ | 143,441 |
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Add: | Fixed Charges Including Interest on Deposits |
| 101,129 |
| 74,114 |
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| Interest on FIN 48 Liabilities |
| 600 |
| - |
| ||
Total Earnings Including Fixed Charges and Interest on Deposits and Interest on FIN 48 Liabilities |
| 249,783 |
| 217,555 |
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Less: | Interest on Deposits |
| 67,076 |
| 44,289 |
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| Interest on FIN 48 Liabilities |
| 600 |
| - |
| ||
Total Earnings Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| $ | 182,107 |
| $ | 173,266 |
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Fixed Charges: |
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|
|
|
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Fixed Charges Including Interest on Deposits |
| $ | 101,129 |
| $ | 74,114 |
| |
Add: | Interest on FIN 48 Liabilities |
| 600 |
| - |
| ||
Total Fixed Charges Including Interest on Deposits and Interest on FIN 48 Liabilities |
| 101,729 |
| 74,114 |
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Less: | Interest on Deposits |
| 67,076 |
| 44,289 |
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| Interest on FIN 48 Liabilities |
| 600 |
| - |
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Total Fixed Charges Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| $ | 34,053 |
| $ | 29,825 |
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Ratio of Earnings to Fixed Charges: |
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Including Interest on Deposits and Interest on FIN 48 Liabilities |
| 2.5x |
| 2.9x |
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Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| 5.3x |
| 5.8x |
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