Bank of Hawaii (BOH) 10-Q 2003 Q3 Quarterly report

EXHIBIT 12

Bank of Hawaii Corporation and Subsidiaries

Exhibit 12—Statement Regarding Computation of Ratios

Nine Months Ended September 30, 2003 and 2002

(dollars in millions)	2003			2002
Earnings:
1.      Income Before Income Taxes	$	147.4		$	143.8
2.      Plus: Fixed Charges Including Interest on Deposits		63.0			118.8
3.      Earnings Including Fixed Charges		210.4			262.6
4.      Less: Interest on Deposits		38.0			66.7
5.      Earnings Excluding Interest on Deposits	$	172.4		$	195.9
Fixed Charges:
6.      Fixed Charges Including Interest on Deposits	$	63.0		$	118.8
7.      Less: Interest on Deposits		38.0			66.7
8.      Fixed Charges Excluding Interest on Deposits	$	25.0		$	52.1
Ratio of Earnings to Fixed Charges:
Including Interest on Deposits (Line 3 divided by Line 6)		3.3	x		2.2	x
Excluding Interest on Deposits (Line 5 divided by Line 8)		6.9	x		3.8	x