Bank of Hawaii Corporation announced that Chairman and Chief Executive Officer Peter S. Ho will retire effective March 31 2026 after 16 years at the helm, and that President and Chief Banking Officer James C. Polk will assume the CEO role and join the Board of Directors on April 1 2026.
Ho’s 16‑year tenure as CEO followed a 33‑year career with the bank, during which he guided the institution through significant digital transformation and expansion of its deposit franchise. He will remain on the bank’s board as a consultant through the end of 2027, ensuring continuity and leveraging his institutional knowledge during the transition.
Polk, who has led the consumer, commercial, and wealth‑management businesses, will take the helm with an approved annual base salary of $825,000. His deep experience across all core segments positions him to sustain the bank’s growth trajectory and to focus the board on capital deployment and market expansion.
The board will also see a change in leadership, with Raymond P. Vara Jr. stepping into the role of Non‑Executive Chairman. The move underscores the bank’s commitment to strong governance and a clear succession plan.
Bank of Hawaii’s most recent quarterly results, released on January 26 2026, showed a 10.32% earnings per share beat and a 2.61% revenue beat, driven by a 63% year‑over‑year increase in diluted EPS and a net interest margin expansion to 2.61%. The bank also resumed its share‑repurchase program and projected its net interest margin to approach 2.90% by the end of 2026, reflecting confidence in continued loan growth and controlled expense increases.
The leadership transition is framed as a smooth, planned succession that preserves the bank’s dominant deposit franchise and strategic initiatives. By retaining Ho in a consulting capacity and promoting a seasoned internal candidate, the bank signals stability to stakeholders while positioning itself to capitalize on market opportunities and maintain its competitive edge in Hawaii and the broader Pacific region.
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