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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(dollars in thousands) |
| 2008 |
| 2007 |
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Earnings: |
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Income Before Provision for Income Taxes |
| $ | 157,119 |
| $ | 148,054 |
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Add: | Fixed Charges Including Interest on Deposits |
| 73,963 |
| 101,129 |
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| Interest on FIN 48 Liabilities |
| - |
| 600 |
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Total Earnings Including Fixed Charges and Interest on Deposits |
| 231,082 |
| 249,783 |
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Less: | Interest on Deposits |
| 47,703 |
| 67,076 |
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| Interest on FIN 48 Liabilities |
| - |
| 600 |
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Total Earnings Excluding Interest on Deposits |
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| and Interest on FIN 48 Liabilities |
| $ | 183,379 |
| $ | 182,107 |
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Fixed Charges: |
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Fixed Charges Including Interest on Deposits |
| $ | 73,963 |
| $ | 101,129 |
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Add: | Interest on FIN 48 Liabilities |
| - |
| 600 |
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Total Fixed Charges Including Interest on Deposits |
| 73,963 | �� | 101,729 |
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Less: | Interest on Deposits |
| 47,703 |
| 67,076 |
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| Interest on FIN 48 Liabilities |
| - |
| 600 |
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Total Fixed Charges Excluding Interest on Deposits |
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| and Interest on FIN 48 Liabilities |
| $ | 26,260 |
| $ | 34,053 |
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Ratio of Earnings to Fixed Charges: |
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Including Interest on Deposits and Interest on FIN 48 Liabilities |
| 3.1 | x | 2.5 | x | |||||
Excluding Interest on Deposits and Interest on FIN 48 Liabilities |
| 7.0 | x | 5.3 |
| x | ||||