Exhibit 12
Bank of Hawaii Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
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| Nine Months Ended |
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| September 30, |
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(dollars in thousands) |
| 2009 |
| 2008 |
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Earnings: |
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Income Before Provision for Income Taxes |
| $ | 153,216 |
| $ | 210,532 |
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Add: | Fixed Charges Including Interest on Deposits |
| 67,518 |
| 102,992 |
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| Interest on Uncertain Tax Positions |
| — |
| (5,700 | ) | |||
Total Earnings Including Fixed Charges and Interest on Deposits |
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| and Interest on Uncertain Tax Positions |
| 220,734 |
| 307,824 |
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Less: | Interest on Deposits |
| 43,741 |
| 65,439 |
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| Interest on Uncertain Tax Positions |
| — |
| (5,700 | ) | |||
Total Earnings Excluding Interest on Deposits |
| $ | 176,993 |
| $ | 248,085 |
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Fixed Charges: |
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Fixed Charges Including Interest on Deposits |
| $ | 67,518 |
| $ | 102,992 |
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Add: | Interest on Uncertain Tax Positions |
| — |
| (5,700 | ) | |||
Total Fixed Charges Including Interest on Deposits |
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|
|
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| and Interest on Uncertain Tax Positions |
| 67,518 |
| 97,292 |
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Less: | Interest on Deposits |
| 43,741 |
| 65,439 |
| |||
| Interest on Uncertain Tax Positions |
| — |
| (5,700 | ) | |||
Total Fixed Charges Excluding Interest on Deposits |
| $ | 23,777 |
| $ | 37,553 |
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Ratio of Earnings to Fixed Charges: |
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Including Interest on Deposits and Interest on Uncertain Tax Positions |
| 3.3 | x | 3.2 | x | ||||
Excluding Interest on Deposits and Interest on Uncertain Tax Positions |
| 7.4 | x | 6.6 | x | ||||