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) |
| 2009 1 |
| 2008 1 |
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Earnings: |
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Income Before Provision for Income Taxes |
| $ | 99,016 |
| $ | 157,119 |
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Add: Fixed Charges Including Interest on Deposits |
| 47,677 |
| 73,963 |
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Total Earnings Including Fixed Charges and Interest on Deposits |
| 146,693 |
| 231,082 |
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Less: Interest on Deposits |
| 31,506 |
| 47,703 |
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Total Earnings Excluding Interest on Deposits |
| $ | 115,187 |
| $ | 183,379 |
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Fixed Charges: |
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|
|
|
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Fixed Charges Including Interest on Deposits |
| $ | 47,677 |
| $ | 73,963 |
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Less: Interest on Deposits |
| 31,506 |
| 47,703 |
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Total Fixed Charges Excluding Interest on Deposits |
| $ | 16,171 |
| $ | 26,260 |
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1 | The Company recorded no interest expense on its liabilities established in accordance with FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statement No. 109.” |
Ratio of Earnings to Fixed Charges: |
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Including Interest on Deposits |
| 3.1 | x | 3.1 | x |
Excluding Interest on Deposits |
| 7.1 | x | 7.0 | x |