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17. Subsequent Event

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On July 12, 2026, First Hawaiian, Inc. and TriCo Bancshares (“TriCo”) entered into a definitive agreement (the “Merger Agreement”) under which, on the terms and conditions set forth therein, the Company will acquire TriCo in an all-stock transaction. Under the terms of the agreement, common shareholders of TriCo will receive 2.095 shares of First Hawaiian, Inc. common stock for each share of TriCo common stock, resulting in a transaction value of approximately $2 billion.

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TriCo is headquartered in Chico, California with reported assets of approximately $10 billion as of March 31, 2026 and is the holding company of Tri Counties Bank. In conjunction with the closing of the Merger Agreement, four members of TriCo’s Board of Directors are expected to join the First Hawaiian, Inc. and First Hawaiian Bank Boards of Directors.

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The Merger Agreement remains subject to regulatory approval, approval by First Hawaiian, Inc. and TriCo shareholders and the satisfaction of other customary closing conditions. The Merger Agreement is expected to close at the end of 2026.

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