First Hawaiian, Inc. (FHB) Earnings Call Transcript & Summary

Ladies and gentlemen, welcome to the First Hawaiian Annual Meeting 2020. I will now turn today's call over to your host, Robert Harrison, Chairman, President and Chief Executive Officer of First Hawaiian, Inc. Please go ahead.

Hello and good morning, everyone. I'm Bob Harrison, Chairman, President, CEO of First Hawaiian, Inc. It is my pleasure to welcome you, and thank you for attending our Annual Meeting of Stockholders. The meeting is now called to order. Each of you should have already received a copy of the proxy materials and/or a notice of availability of the proxy materials. Copies of the proxy materials are available online at http://proxy.fhb.com, and a link to our proxy materials is on our virtual annual meeting site. The agenda for today's meeting is available and can be viewed at our virtual meeting site. Should you have any questions that you would like to ask or comments that you would like to make or should you have any questions for our auditors, you may submit those questions or comments at any time by clicking on the icon to the right of the "i" center left of your screen, then type in your question or comment in the Ask a Question box in the lower left portion of your screen. The secretary informs me that there were outstanding on the voting record date and entitled to notice of -- and to vote at the Annual Meeting, 130,350,725 shares of common stock. I received an affidavit from the secretary that the proxy materials and our notice of availability of proxy materials were mailed on or about March 13, 2020, to each stockholder of record at the close of business on February 28, 2020. I, therefore, declare the annual meeting has been duly called. The Board of Directors previously appointed Oriel Robinson of American Stock Transfer & Trust Company to serve as inspector of election. Oriel has taken an oath to faithfully and impartially perform her duty. At least, a majority of outstanding shares of common stock entitled to vote represented in person or by proxy constitutes a quorum at a meeting of stockholders. The secretary informs me that at least a majority of the outstanding shares of common stock are represented at the meeting in person or by proxy. A quorum is, therefore, present, and the annual meeting may proceed to transact business. The polls for voting on all matters are now open. If you have not already voted and would like to vote at the annual meeting, you may click on the link entitled, Proxy Voting Site, in the upper left portion of your screen at any time. The first proposal we will consider is the election of 7 directors to serve until the 2021 Annual Meeting of Stockholders. The Board of Directors has nominated Matt Cox, Allen Doane, Faye Kurren, Allen Uyeda, Jenai Wall, Scott Wo and myself. Each of the nominees is presently a Director of First Hawaiian, Inc. and First Hawaiian Bank. No nominations may be made at this meeting. Information about the principal occupation of the nominees, our service with First Hawaiian, Inc. and First Hawaiian Bank, and other relevant information is contained in our proxy statement. It is now time for a discussion on the proposal for the election of Directors. I see no further questions or comments, so we move to the next item of business. The second proposal is the ratification of the appointment of Deloitte & Touché LLP to serve as our independent registered public accounting firm for the fiscal year ending December 21, 2020. Chris Monteilh, Joanna Oshiro, Dane Maehara representing Deloitte & Touché are here today to answer any questions. It is now time for a discussion on this proposal and questions for the Deloitte representatives. I see no further questions or comments, so we'll move to the next item of business. The third proposal is an advisory vote on the compensation of our named executive officers as disclosed in our proxy statement. It is now time for a discussion on the proposal to approve on an advisory basis the compensation of our named executive Officers. I see no further questions or comments. We will now vote on the proposals. Please remember that you do not need to vote at this meeting if you've already voted via the Internet, by telephone or by returning your proxy card, unless you want to change your vote. Until the polls close, you may revoke or change your vote on any matter. However, once the polls are closed, no proxies or votes nor any revocations or changes will be accepted. If you have not already voted and you would like to vote at the annual meeting, you should click now on the link entitled Proxy Voting Site in the upper left portion of your screen. The polls will close in 1 minute. Please submit your vote at this time, and we will continue with meeting in 1 minute. [Voting]

The polls are now closed. The secretary has provided a preliminary report that shows that Matt Cox, Allen Doane, Faye Kurren, Allen Uyeda, Jenai Wall, Scott Wo and I have been elected as Directors to serve until the 2021 Annual Meeting of Stockholders. In addition, the preliminary vote report shows that the proposal to ratify the appointment of Deloitte & Touché to serve as independent registered public accounting firm for the fiscal year ending December 21, 2020, has been approved. And the majority of stockholders have voted on an advisory basis in favor of the compensation of our named executive officers as disclosed in our proxy statement. I'd like to thank everyone for attending. The meeting is now adjourned.

This does conclude today's meeting. You may now disconnect.