Exhibit 12
Bank of Hawaii Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
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| Three Months Ended |
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(dollars in thousands) |
| 2008 |
| 2007 |
| |||
Earnings: |
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|
|
| |||
Income Before Provision for Income Taxes |
| $ | 80,446 |
| $ | 74,343 |
| |
Add: | Fixed Charges Including Interest on Deposits |
| 42,496 |
| 50,241 |
| ||
| Interest on FIN 48 Liabilities |
| — |
| 600 |
| ||
Total Earnings Including Fixed Charges and Interest on Deposits and Interest on FIN 48 Liabilities |
| 122,942 |
| 125,184 |
| |||
Less: | Interest on Deposits |
| 27,465 |
| 33,375 |
| ||
| Interest on FIN 48 Liabilities |
| — |
| 600 |
| ||
Total Earnings Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| $ | 95,477 |
| $ | 91,209 |
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Fixed Charges: |
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|
|
|
| |||
Fixed Charges Including Interest on Deposits |
| $ | 42,496 |
| $ | 50,241 |
| |
Add: | Interest on FIN 48 Liabilities |
| — |
| 600 |
| ||
Total Fixed Charges Including Interest on Deposits and Interest on FIN 48 Liabilities |
| 42,496 |
| 50,841 |
| |||
Less: | Interest on Deposits |
| 27,465 |
| 33,375 |
| ||
| Interest on FIN 48 Liabilities |
| — |
| 600 |
| ||
Total Fixed Charges Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| $ | 15,031 |
| $ | 16,866 |
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Ratio of Earnings to Fixed Charges: |
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|
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Including Interest on Deposits and Interest on FIN 48 Liabilities |
| 2.9 | x | 2.5 | x | |||
Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| 6.4 | x | 5.4 | x |