03:34 AM EDT, 06/20/2024 (MT Newswires) -- Bank of Hawai'i (BOH) said Tuesday that it priced a public offering of 6.6 million depositary shares, each representing 1/40th ownership interest in a share of its 8% fixed rate non-cumulative perpetual preferred stock series B, for gross proceeds of $165 million.

The company said it plans to use the expected net proceeds of about $162 million for general corporate purposes, which may include supporting asset growth. The offering is expected to close on Friday.

Bank of Hawai'i will apply to list the depositary shares on the New York Stock Exchange under the symbol "BOHPrB."