Shares of Bank of Hawaii Corporation BOH lost 6.2% in response to lower-than-expected third-quarter 2022 results. Earnings per share of $1.28 missed the Zacks Consensus Estimate of $1.43. Also, the bottom line declined 15.8% from the year-ago quarter.The results were hurt by higher expenses and a decline in non-interest income. Also, the company’s capital and profitability ratios deteriorated. However, supported by higher interest rates and robust loan balance, BOH witnessed an increase in net interest income (NII).BOH’s net income was $52.8 million, down 13.5% from the prior-year quarter.Revenues & Expenses RiseThe company’s total revenues improved 2.4% year over year to $172.3 million. However, the top line lagged the Zacks Consensus Estimate of $183.6 million.NII was $141.7 million, up 11.7%. Net interest margin (NIM) rose 28 basis points (bps) to 2.60%.Non-interest income was $30.7 million, plunging 25.9%. This decline primarily resulted from the inclusion of a one-time pre-tax charge of $6.9 million related to the company’s agreement to sell assets that will terminate leveraged leases related to 31 locomotives.Non-interest expenses increased 9.6% year over year to $105.7 million. The upswing mainly reflects a rise in salaries and benefits and net occupancy.Efficiency ratio was 61.37% compared with 57.38% recorded in the year-ago period. A rise in the efficiency ratio reflects lower profitability.As of Sep 30, 2022, total loans and leases balance rose 2.9% from the end of the prior quarter to $13.23 billion, while total deposits declined marginally to $20.89 billion.Credit Quality SolidAs of Sep 30, 2022, non-performing assets decreased 32.7% year over year to $13.9 million. The allowance for credit losses declined 12.8% to $146.4 million.The company’s provision for credit losses in the third quarter was nil against a net benefit of $10.4 million in the prior-year quarter. In addition, net loans and lease charge-offs were $1.1 million, down from $1.2 million in the prior-year quarter.Capital & Profitability Ratios DeteriorateAs of Sep 30, 2022, Tier 1 capital ratio was 12.72%, down from 13.47% as of Sep 30, 2021. Total capital ratio was 13.82%, declining from 14.72%. In addition, the ratio of tangible common equity to risk-weighted assets was 7.97%, down from 11.46% in the year-ago quarter.Further, as of Sep 30, 2022, the common equity tier 1 capital ratio of 11.42% declined from 12.02% in the prior-year period.Return on average assets was 0.91%, down from 1.07% in the prior year period. Return on average shareholders' equity was 15.31% compared with 15.41% as of Sep 30, 2021.Share Repurchase UpdateDuring the reported quarter, BOH repurchased 187.5 million shares for $15 million.ConclusionBank of Hawaii’s strong balance-sheet position, higher interest rates and a rise in loan demand will continue to support financials. However, persistently increasing operating expenses is a near-term concern. Bank of Hawaii Corporation Price, Consensus and EPS Surprise Bank of Hawaii Corporation price-consensus-eps-surprise-chart | Bank of Hawaii Corporation QuoteCurrently, Bank of Hawaii carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other BanksSVB Financial Group’s SIVB third-quarter 2022 earnings per share of $7.21 surpassed the Zacks Consensus Estimate of $6.79. The bottom line reflects a rise of 15.5% from the prior-year quarter.SIVB’s results were primarily aided by an improvement in net interest income (NII), driven by higher rates and loan growth. However, a rise in expenses, lower non-interest income and higher provisions were the undermining factors.BankUnited, Inc.’s BKU third-quarter 2022 earnings per share of $1.12 outpaced the Zacks Consensus Estimate of $1.01. The bottom line also grew 19.1% from the prior-year quarter. We had projected earnings per share of $1.02.Results benefited from higher net interest income, a decent rise in loan balance and increasing rates. However, subdued fee income performance, a rise in expenses and an increase in credit costs acted as headwinds for BKU. Just Released: Zacks Unveils the Top 5 EV Stocks for 2022 For several months now, electric vehicles have been disrupting the $82 billion automotive industry. And that disruption is only getting bigger thanks to sky-high gas prices. Even titans in the financial industry including George Soros, Jeff Bezos, and Ray Dalio have invested in this unstoppable wave. You don't want to be sitting on your hands while EV stocks break out and climb to new highs. In a new free report, Zacks is revealing the top 5 EV stocks for investors. Next year, don't look back on today wishing you had taken advantage of this opportunity.>>Send me my free report revealing the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BankUnited, Inc. (BKU): Free Stock Analysis Report Bank of Hawaii Corporation (BOH): Free Stock Analysis Report SVB Financial Group (SIVB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research