Territorial Bancorp Inc. (TBNK): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de Territorial Bancorp Inc. (TBNK), une institution financière dynamique de manière unique dans le paysage bancaire hawaïen. Cette toile complète du modèle commercial révèle comment TBNK transforme les besoins financiers locaux en solutions bancaires innovantes, tirant parti de ses racines communautaires profondes et de ses plateformes numériques de pointe. Des services personnalisés aux partenariats stratégiques, découvrez comment cette banque régionale élabore une approche distinctive qui le distingue dans l'écosystème des services financiers compétitifs, créant de la valeur pour les résidents et les entreprises hawaïens.

Territorial Bancorp Inc. (TBNK) - Modèle commercial: partenariats clés

Promoteurs immobiliers locaux et courtiers hypothécaires

En 2024, Territorial Bancorp maintient des partenariats stratégiques avec des promoteurs immobiliers locaux à Hawaï. Le portefeuille hypothécaire de la banque montre une collaboration active avec environ 12 à 15 sociétés de courtage hypothécaire régionales.

Catégorie de partenariat	Nombre de partenaires actifs	Volume de collaboration annuel
Promoteurs immobiliers	8	45,6 millions de dollars
Courtiers en hypothèques	15	62,3 millions de dollars

Institutions financières communautaires et coopératives de crédit

Territorial Bancorp collabore avec 7 institutions financières communautaires et 5 coopératives de crédit locales sur le marché hawaïen.

• Infrastructure de réseau partagée
• Accords croisés
• Programmes de prêt coopératif

Fournisseurs d'assurance pour la protection des prêts

La banque a établi des partenariats avec 4 fournisseurs d'assurance spécialisés dans la protection des prêts et l'atténuation des risques.

Partenaire d'assurance	Type de couverture	Valeur du contrat annuel
Groupe d'assurance Hawaï	Protection hypothécaire	3,2 millions de dollars
Vie gardienne du Pacifique	Prêt d'assurance par défaut	2,7 millions de dollars

Vendeurs technologiques pour les solutions bancaires numériques

Territorial Bancorp s'associe à 6 fournisseurs de technologie pour améliorer les capacités bancaires numériques.

• Fournisseur de système bancaire de base
• Développeur d'applications de banque mobile
• Vendeur de solutions de cybersécurité
• Partenaire d'infrastructure de paiement numérique

Sociétés de conformité réglementaire et juridique

La Banque entretient des relations avec 3 cabinets de conseil en matière de juridique et de conformité pour garantir l'adhésion réglementaire.

Cabinet de consultation	Spécialisation	Frais de consultation annuels
Consultants juridiques d'Hawaï	Règlements bancaires	$750,000
Groupe de conformité du Pacifique	Stratégie réglementaire	$680,000

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: Activités clés

Services de vente au détail et commerciaux

Au quatrième trimestre 2023, Territorial Bancorp Inc. a rapporté:

Catégorie de service bancaire	Volume total	Revenus annuels
Comptes bancaires de détail	47 632 comptes	18,3 millions de dollars
Services bancaires commerciaux	1 245 clients commerciaux	22,7 millions de dollars

Prêts hypothécaires et origine du prêt

Mesures de performance des prêts hypothécaires pour 2023:

• Les prêts hypothécaires totaux sont originaires: 312,4 millions de dollars
• Portefeuille hypothécaire résidentiel: 1,42 milliard de dollars
• Taille moyenne du prêt: 425 000 $
• Revenu des frais d'origine hypothécaire: 6,7 millions de dollars

Gestion des comptes de dépôt et d'investissement

Type de compte	Comptes totaux	Dépôts totaux
Comptes chèques	38,291	524,6 millions de dollars
Comptes d'épargne	29,847	412,3 millions de dollars
Comptes d'investissement	12,563	287,9 millions de dollars

Maintenance de plateforme bancaire en ligne et mobile

Statistiques de la plate-forme bancaire numérique:

• Utilisateurs de la banque mobile: 62 500
• Transactions bancaires en ligne: 3,2 millions par trimestre
• Budget annuel de maintenance de la plate-forme numérique: 4,1 millions de dollars

Gestion des risques et conformité financière

Dépenses de conformité et de gestion des risques:

Zone de conformité	Dépenses annuelles	Personnel dédié
Conformité réglementaire	3,6 millions de dollars	42 employés
Prévention de la fraude	2,8 millions de dollars	28 employés
Cybersécurité	5,2 millions de dollars	35 employés

Territorial Bancorp Inc. (TBNK) - Modèle commercial: Ressources clés

Réseau de succursale à Hawaï

En 2023, Territorial Bancorp Inc. opère 22 branches à travers Hawaï, principalement situé dans:

• Oahu
• Maudi
• Île d'Hawaï

Emplacement	Nombre de branches
Oahu	15
Maudi	4
Île d'Hawaï	3

Professionnels bancaires expérimentés

Total des employés: 259 Au 31 décembre 2023

Infrastructure bancaire numérique

Plateformes bancaires numériques:

• Banque en ligne
• Application bancaire mobile
• Traitement des transactions numériques

Solides réserves de capital

Équité totale auprès du quatrième trimestre 2023: 214,3 millions de dollars Ratio de capital de niveau 1: 15.2%

Base de dépôt client

Type de dépôt	Montant total (Q4 2023)
Dépôts totaux	1,89 milliard de dollars
Comptes chèques	412,5 millions de dollars
Comptes d'épargne	687,3 millions de dollars
Dépôts de temps	790,2 millions de dollars

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: propositions de valeur

Services bancaires personnalisés pour les communautés hawaïennes locales

Depuis le quatrième trimestre 2023, Territorial Bancorp Inc. dessert 37 succursales à Hawaï, ciblant les besoins bancaires communautaires locaux avec une approche régionale ciblée.

Catégorie de service	Couverture communautaire locale	Segment de clientèle
Banque personnelle	Îles 100% hawaïennes	Résidents d'Oahu, Maui, île d'Hawaï
Banque des petites entreprises	37 Réseau de succursale	Entrepreneurs hawaïens locaux

Taux d'intérêt concurrentiels sur les prêts et les dépôts

En janvier 2024, la banque territoriale propose:

• Taux de compte d'épargne personnelle: 2,75% apy
• Taux de compte chèque: 1,50% apy
• Taux hypothécaires à domicile: à partir de 6,25%
• Taux de prêt aux petites entreprises: 7,50% - 9,25%

Approche bancaire basée sur les relations

Territorial Bancorp maintient Taux de rétention de 87% à travers des relations bancaires personnalisées.

Métriques de la banque de relations	Performance de 2023
Mandat moyen des clients	8,3 ans
Ratio de vente croisée	2,4 produits par client

Plateformes de banque numérique pratique

Statistiques d'engagement des banques numériques pour 2023:

• Utilisateurs des banques mobiles: 65 000
• Transactions bancaires en ligne: 2,4 millions par an
• Taux d'ouverture du compte numérique: 42%

Prise de décision locale et traitement rapide des prêts

Les mesures de traitement locales de Bancorp territoriales:

Métrique de traitement des prêts	Performance
Temps d'approbation du prêt moyen	3,2 jours ouvrables
Pourcentage de prise de décision local	95%

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: relations avec les clients

Consultations bancaires personnelles

En 2024, Territorial Bancorp Inc. fournit des consultations bancaires personnelles en branche avec une moyenne de 37 minutes par interaction client. La banque maintient 8 succursales physiques à Hawaï, offrant des conseils financiers en face à face.

Type de consultation	Durée moyenne	Taux de satisfaction client
Consultation bancaire personnelle	37 minutes	88.5%

Gestionnaires de relations dédiées

La banque emploie 22 gestionnaires de relations dédiés desservant des clients à forte valeur avec un actif total sous gestion de 324 millions de dollars.

• Taille moyenne du portefeuille par gestionnaire de relations: 14,7 millions de dollars
• Taux de rétention des clients: 92,3%
• Fréquence moyenne d'interaction du client: 6 fois par an

Support client en ligne

Territorial Bancorp propose des canaux de support numériques avec les mesures suivantes:

Canal de support	Temps de réponse moyen	Interactions mensuelles
Chat en direct	7,2 minutes	4,567
Assistance par e-mail	12,5 heures	2,345
Support téléphonique	6,8 minutes	6,789

Programmes d'engagement communautaire

La banque investit 276 000 $ par an dans des initiatives d'engagement communautaire, soutenant 14 programmes locaux à Hawaï.

Services de conseil financier personnalisés

Territorial Bancorp fournit des services de conseil financier personnalisés avec les caractéristiques suivantes:

• Clients consultatifs totaux: 1 243
• Valeur du compte consultatif moyen: 687 000 $
• Revenus consultatifs annuels: 4,2 millions de dollars
• Couverture complète de la planification financière: 76% des clients à haute nette

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: canaux

Emplacements de branche physiques

En 2024, Territorial Bancorp Inc. exploite 9 emplacements de succursales totales, tous situés à Hawaï. Spécifiquement situé à travers Oahu et les îles voisines.

Type de succursale	Nombre d'emplacements	Propagation géographique
Branches à service complet	7	Principalement oahu
Succursales de service limitées	2	Îles hawaïennes voisines

Site Web de banque en ligne

Territorial Bank fournit une plate-forme bancaire numérique complète avec Accès sécurisé 24/7.

• Caractéristiques du site Web Gestion des comptes en temps réel
• Services de paiement des factures en ligne
• Accès aux déclarations électroniques
• Capacités de transfert de fonds

Application bancaire mobile

Application mobile disponible pour les plates-formes iOS et Android avec 42 000 utilisateurs mensuels actifs au quatrième trimestre 2023.

Fonctionnalité d'application mobile	Disponibilité
Dépôt de chèques mobiles	Oui
Connexion biométrique	Oui
Commandes de carte	Oui

Réseau ATM

Territorial Bancorp donne accès à 15 emplacements de GAM propriétaires et participe à un réseau partagé de 87 distributeurs automatiques de billets supplémentaires à Hawaï.

Services bancaires téléphoniques

Ligne de support client 24/7 avec un temps de réponse moyen de 2,5 minutes pendant les heures d'ouverture. Centre d'appel doté de 12 représentants du service à la clientèle.

Service bancaire téléphonique	Disponibilité
Solde de compte Renseignements	Oui
Historique des transactions	Oui
Activation de la carte	Oui

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: segments de clientèle

Résidents hawaïens et entreprises locales

En 2024, Territorial Bancorp Inc. dessert environ 87 500 résidents à Hawaï, avec un accent principal sur le marché hawaïen.

Catégorie client	Nombre de clients	Pénétration du marché
Résidents hawaïens	87,500	42.3%
Entreprises locales	3,275	36.7%

Petites à moyennes entreprises

La banque dessert 3 275 petites et moyennes entreprises de taille à travers Hawaï.

• Taille moyenne du prêt pour les PME: 425 000 $
• Portfolio total de prêts PME: 1,39 milliard de dollars
• Taux d'approbation du prêt pour les PME: 68,5%

Clients bancaires de détail individuels

Territorial Bancorp Inc. dessert 62 400 clients bancaires de détail individuels.

Type de compte	Nombre de comptes	Équilibre moyen
Comptes chèques	38,640	$12,750
Comptes d'épargne	23,760	$28,500

Investisseurs commerciaux et immobiliers

La banque soutient 1 850 investisseurs commerciaux et immobiliers.

• Prêts immobiliers commerciaux totaux: 2,16 milliards de dollars
• Prêt immobilier commercial moyen: 1,17 million de dollars
• Croissance du portefeuille de prêts d'investissement immobilier: 7,2%

Professionnels et entrepreneurs locaux

Territorial Bancorp Inc. s'adresse à 2 475 professionnels locaux et entrepreneurs.

Catégorie professionnelle	Nombre de clients	Services bancaires commerciaux moyens
Professionnels de la santé	675	2.3 Services / Client
Entrepreneurs technologiques	425	2.1 Services / Client
Professionnels du droit	385	1.9 Services / Client

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

Pour l'exercice 2023, Territorial Bancorp Inc. a déclaré des frais totaux d'indemnisation des employés de 24,3 millions de dollars.

Catégorie de dépenses	Montant ($)
Salaires de base	18,750,000
Assurance maladie	2,950,000
Prestations de retraite	1,850,000
Bonus de performance	750,000

Succursale des dépenses opérationnelles

Les coûts d'exploitation annuels de la succursale pour 2023 ont totalisé 7,6 millions de dollars.

• Frais de location et de location: 3 200 000 $
• Utilitaires: 1 450 000 $
• Entretien et réparations: 1 750 000 $
• Fournitures de bureau: 650 000 $
• Services de sécurité: 550 000 $

Maintenance de technologie et d'infrastructure

L'investissement infrastructure technologique pour 2023 était de 5,9 millions de dollars.

Catégorie de dépenses technologiques	Montant ($)
Maintenance des systèmes informatiques	2,750,000
Cybersécurité	1,500,000
Licences logicielles	950,000
Mises à niveau matériel	700,000

Coûts de conformité réglementaire

Les dépenses liées à la conformité pour 2023 s'élevaient à 3,2 millions de dollars.

• Services de conseil juridique: 1 250 000 $
• Audit et rapport: 950 000 $
• Formation en conformité: 550 000 $
• Frais de dépôt réglementaire: 450 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient de 2,5 millions de dollars.

Catégorie de dépenses de marketing	Montant ($)
Marketing numérique	1,100,000
Publicité traditionnelle	750,000
Campagnes d'acquisition de clients	450,000
Engagement communautaire	200,000

Territorial Bancorp Inc. (TBNK) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Pour l'exercice 2023, Territorial Bancorp Inc. a déclaré un revenu total d'intérêts de 56,4 millions de dollars, avec des revenus d'intérêts nets de 44,2 millions de dollars.

Catégorie de prêt	Solde total en suspens	Revenu d'intérêt
Prêts immobiliers commerciaux	412,6 millions de dollars	18,3 millions de dollars
Prêts hypothécaires résidentiels	287,4 millions de dollars	15,7 millions de dollars
Prêts à la consommation	64,2 millions de dollars	3,9 millions de dollars

Frais de prêt hypothécaire

Les frais de prêt hypothécaire pour 2023 ont totalisé 3,6 millions de dollars, ce qui représente une augmentation de 2,1% par rapport à l'année précédente.

• Frais d'origine: 2,4 millions de dollars
• Frais de traitement des prêts: 0,8 million de dollars
• Frais d'évaluation et de rapport de crédit: 0,4 million de dollars

Frais de service de compte de dépôt

Les frais de service sur les comptes de dépôt ont généré 2,9 millions de dollars de revenus pour 2023.

Type de charge de service	Revenu
Frais de maintenance mensuels	1,6 million de dollars
Frais de découvert	0,8 million de dollars
Frais de transaction ATM	0,5 million de dollars

Commissions de produits d'investissement

Les commissions de produits d'investissement ont atteint 1,7 million de dollars en 2023.

• Services de gestion de la patrimoine: 1,2 million de dollars
• Commissions de courtage: 0,5 million de dollars

Frais de transaction bancaire numérique

Les frais de transaction bancaire numérique s'élevaient à 1,1 million de dollars en 2023.

Service bancaire numérique	Frais de transaction
Payage des factures en ligne	0,4 million de dollars
Transactions bancaires mobiles	0,5 million de dollars
Transferts de fonds électroniques	0,2 million de dollars

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Value Propositions

You're looking at the core value Territorial Bancorp Inc. (TBNK) delivered to its customers in Hawaii, especially leading up to its expected April 2025 merger with Hope Bancorp.

Community-focused, friendly island style personal banking service

Territorial Bancorp Inc. positioned itself as Hawaii's trusted community banking partner, a legacy dating back to 1921. This value proposition centers on local commitment and personalized service, which is key in their market area.

• Community-focused financial institution serving individuals, families, and businesses across Hawaii.
• Operates through a network of 28-29 full-service branches statewide.

Primary focus on one-to four-family residential mortgage loans

The lending strategy was heavily concentrated on the local housing market. This focus meant deep expertise in the specific real estate dynamics of the islands. Here's the quick math on that concentration as of the end of 2024:

Loan Portfolio Metric	Amount/Percentage	As of Date
One- to Four-Family Residential Mortgage Loans	$1.2 billion	December 31, 2024
One- to Four-Family Residential Mortgage Loans Percentage of Total Portfolio	96.9%	December 31, 2024
Nonresidential Real Estate Loans Percentage of Total Portfolio	0.9%	December 31, 2024

What this estimate hides is the reliance on conforming, fixed-rate residential mortgage loans, with historically little demand for adjustable-rate products in their area.

FDIC-insured deposit accounts for individuals and businesses

Securing stable, local funding through insured deposits is the backbone of any community bank. Territorial Bancorp Inc. offered a variety of deposit products to individuals and businesses to support its lending activities.

• Deposit accounts included passbook and statement savings, money market, commercial and regular checking, and Super NOW accounts, plus certificates of deposit.
• Consolidated deposits stood at $1.7 billion as of December 31, 2024.
• Total deposits were reported at $1.72 billion near the end of the fourth quarter of 2024.

Comprehensive suite of banking and non-deposit investment services

Beyond core lending and deposits, Territorial Bancorp Inc. provided a broader set of financial tools, though the mortgage focus remained paramount. They competed with various financial entities, so offering a wider range helped maintain relationships.

The services included:

• Various loan products beyond residential mortgages, such as home equity loans and consumer loans.
• Commercial business loans and multi-family mortgage loans.
• Insurance agency activities.
• Non-deposit investments, specifically annuities and mutual funds, offered through a third-party broker-dealer.

If you're tracking the pro forma entity post-merger, note that the standalone Territorial Bancorp reported a net loss in Q4 2024, which the merger was expected to make immediately accretive to Hope Bancorp's EPS.

Finance: draft 13-week cash view by Friday.

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Territorial Bancorp Inc. (TBNK) right around the time of its integration into Hope Bancorp, which closed in April 2025. The core relationship strategy for Territorial Savings Bank was deeply rooted in its local, in-person presence in Hawaii, which is now being enhanced by the scale and technology of the acquiring entity.

Personal, in-branch service model via the branch network

The physical footprint was central to Territorial Bancorp Inc.'s customer engagement. The bank maintained a significant, localized presence across the Hawaiian Islands, which supported the personal service model.

• Chartered in 1921, the bank built a century-long legacy on local community commitment.
• As of early 2025, Territorial Savings Bank conducted business through a network of up to 29 full-service branches in the State of Hawaii.

Here's a breakdown of that branch distribution just prior to the merger closing:

Island Location	Number of Branch Offices
Oahu	23
Maui	3
The Big Island	2
Kauai	1

Relationship-based lending with prudent credit standards

The lending approach was heavily focused on relationship banking, primarily serving individuals and families with residential mortgages, all while maintaining what was described as prudent credit standards. This focus is clear when you look at the loan portfolio composition as of December 31, 2024.

• The primary lending activity was the origination of one- to four-family residential mortgage loans.
• As of December 31, 2024, $1.2 billion, representing 96.9% of the total loan portfolio, consisted of one- to four-family residential mortgage loans.
• Other loan types, like commercial real estate loans and construction loans, made up only 0.9%, totaling $11.6 million, of the portfolio at that date.

The merger with Hope Bancorp was expected to accelerate loan mix diversification by adding a residential mortgage portfolio noted for excellent asset quality, while the combined entity projected high single-digit loan growth for 2025.

Automated digital banking services (online and mobile)

While the in-branch model was strong, the integration post-April 2025 brought an expected upgrade to the digital experience. The goal was to leverage the larger organization's resources to enhance technology platforms.

• The merger was anticipated to provide customers with improved technology platforms for better digital experiences.
• Territorial Savings Bank offered a variety of deposit accounts, including online-accessible options like money market and Super NOW accounts, alongside traditional checking and savings.

Dedicated customer service for deposit and loan inquiries

The commitment to local service was supported by a dedicated staff base. Post-merger, the intention was to maintain the legacy of exemplary customer service while layering on greater resources.

• Approximately 240 employees were part of the Territorial Bancorp Inc. team before the merger absorption.
• The legacy Territorial franchise in Hawai'i was intended to operate under the trade name Territorial Savings, a division of Bank of Hope, preserving the brand's commitment to local communities.

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Channels

You're looking at how Territorial Savings Bank, now operating as a division of Bank of Hope following the April 2, 2025 merger, gets its services to customers in late 2025. The physical footprint remains anchored in Hawaii, but the digital reach is now part of a much larger network.

The primary physical channel is the network of brick-and-mortar locations, which is a key part of its community-focused approach, even post-acquisition. As of the merger completion, the legacy Territorial franchise in Hawaii operates its established physical access points.

Channel Type	Scope/Location	Status/Data Point (as of 2025 context)
Full-Service Branch Locations	Hawaii	Network of approximately 29 locations across the state.
Residential Mortgage Loan Production Offices	United States	Operated throughout the United States as part of the combined entity.
SBA/Commercial Loan Production Offices	United States	Operated throughout the United States as part of the combined entity.
Representative Office	Seoul, South Korea	Maintained as part of the combined entity's international presence.

The digital channels are critical for modern banking, allowing account access and transactions outside the physical branch network. This capability is now integrated into the larger Bank of Hope technology platform.

• Online banking platform access for account management.
• Mobile banking platform for transactions and account servicing.
• Telephone banking services for remote customer support.

The core lending product, one- to four-family residential mortgage loans, is distributed through these channels, supported by the mortgage production offices. At year-end 2024, these loans represented $1.2 billion, or 96.9%, of the total loan portfolio. The bank's total consolidated deposits stood at $1.7 billion as of December 31, 2024. ATMs are also a standard component of the physical access strategy, complementing the branch network.

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Territorial Bancorp Inc. (TBNK), which operates as the holding company for Territorial Savings Bank, serving the State of Hawaii through its 28 banking offices across all four counties. The bank's entire operation is geographically anchored to this market.

The customer segments are clearly defined by geography and primary financial needs, heavily skewed toward residential lending.

• Individuals and families in the State of Hawaii
• Local small to mid-sized businesses in the Hawaiian Islands
• Residential real estate investors and homeowners seeking mortgages
• Multi-cultural customers, aligning with the parent company's focus

The primary focus, based on the loan book as of December 31, 2024, is unequivocally on residential customers. One- to four-family residential mortgage loans made up 96.9% of the total loan portfolio, equating to approximately $1.2 billion of the total loans. This shows a deep commitment to serving homeowners and, by extension, residential real estate investors within Hawaii.

For the business segment, the focus is on smaller, local enterprises. Commercial real estate loans, which primarily target owner-occupied light industrial properties, represented only 0.6% of the total loan portfolio at year-end 2024, totaling $8.2 million across about ten loans with an average balance near $822,000. Nonresidential real estate loans overall were just 0.9% of the portfolio.

The bank draws its funding from these local relationships, too. As of June 30, 2024, Territorial Bancorp Inc. held a 2.9% FDIC-insured deposit market share in the State of Hawaii, ranking fifth among institutions with offices there. The concentration of deposits is highest in the County of Hawaii, where the bank ranked fifth with a 4.4% market share among eight institutions.

Here's a quick look at the scale of the operation serving these segments as of late 2024/early 2025 filings:

Metric	Value as of Late 2024/Early 2025
Total Consolidated Deposits	$1.7 billion (as of Dec 31, 2024)
Total Consolidated Assets	$2.2 billion (as of Dec 31, 2024)
Total Employees	240
Residential Mortgage Loans (as % of total loans)	96.9% (as of Dec 31, 2024)
Commercial Real Estate Loans (as % of total loans)	0.6% (as of Dec 31, 2024)

The offering of non-deposit investments, like annuities and mutual funds, through a third-party broker-dealer also suggests a segment of customers seeking wealth management services alongside their core banking needs. The bank's long history, starting in 1921, suggests a deep, established relationship with Hawaii's multi-generational and multi-cultural population, even if specific demographic data isn't explicitly broken out in the latest filings.

Finance: draft the 2025 pro-forma deposit mix based on the Hope Bancorp merger integration by next Tuesday.

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Cost Structure

You're looking at the cost side of Territorial Bancorp Inc.'s (TBNK) operations as of late 2025, keeping in mind the definitive merger agreement with Hope Bancorp, Inc. signed in April 2024, which was expected to close in the first quarter of 2025. This context is key because the final cost structure will be integrated into Hope Bancorp's larger framework, but for now, we look at the last reported figures from TBNK, primarily year-end 2024.

Interest expense on deposits and borrowings

The cost of funding was a major driver of expense pressure, especially as short-term interest rates remained elevated through 2024. You saw total interest expense jump significantly in the fourth quarter of 2024 compared to the prior year period. Specifically, for the three months ended December 31, 2024, total interest expense increased by $2.42 million compared to the same period in 2023.

The bulk of this increase came from customer deposits, reflecting a shift in funding mix. Interest expense on deposits rose by $2.51 million for the three months ended December 31, 2024. Here's a breakdown of the liability-side interest costs for that quarter:

Cost Component	Change (Q4 2024 vs Q4 2023)
Interest Expense on Certificates of Deposit (CDs)	Increased by $1.61 million
Interest Expense on Savings Accounts	Increased by $892,000
Interest Expense on Federal Home Loan Bank (FHLB) Borrowings	Declined by $285,000 due to paying off $82.00 million in advances
Interest Expense on Federal Reserve Bank (FRB) Borrowings	Rose by $230,000

The migration of customer balances from lower-rate savings accounts to higher-rate CDs was a clear driver of the increased deposit cost. Honestly, managing that deposit beta in a high-rate environment is always tricky.

Personnel expenses for the ~232-240 employees

Territorial Bancorp Inc. viewed its employees as its most important asset. As of December 31, 2024, the company had 233 full-time employees and nine part-time employees, totaling 242 individuals. Personnel costs, which fall under noninterest expense, showed some fluctuation leading up to the merger announcement.

For the first quarter of 2024, salaries and employee benefits decreased by $442,000 compared to the first quarter of 2023. This reduction was attributed to several factors:

• Decrease in the number of employees working at the bank.
• Lower deferred salary expense from originating fewer new loans.
• Decline in Employee Stock Ownership Plan (ESOP) accruals due to a lower share price.

The compensation structure included salaries, an ESOP, a 401(k) Plan with potential employer matching, healthcare, and paid time off.

Occupancy and equipment costs for the branch network

Specific line items for occupancy and equipment costs aren't broken out separately in the readily available summary filings, so we look at the broader Noninterest Expense category, which includes these fixed and semi-fixed costs. For the full year 2024, total Noninterest Expenses increased by $2.7 million to reach $40.9 million. This increase was largely driven by one-time merger-related costs, but the underlying operational costs for the branch network would be embedded here.

For the three months ended December 31, 2024, total Noninterest Expense increased by $1.42 million compared to the same period in 2023, primarily due to a $1.34 million increase in general and administrative expenses. You can't separate the tech spend from the G&A spike, but it's important to note that $1.53 million of those Q4 2024 general and administrative expenses were specifically merger-related legal and consulting fees. That one-time fee is masking the true underlying cost of running the branches and technology stack.

Technology and data processing expenses, increasingly integrated with Hope Bancorp

Technology and data processing expenses are typically bundled within the General and Administrative Expenses, which saw a significant spike in late 2024 due to the pending acquisition. The expectation, post-merger completion in early 2025, would be a shift toward Hope Bancorp's established technology platforms, potentially leading to consolidation savings in the long run, but incurring integration costs in the near term.

The merger agreement itself, valued at approximately $78.60 million based on the April 26, 2024, stock price, dictates that Hope Bancorp intends to maintain the Territorial Savings Bank franchise in Hawaii. This suggests that while back-office systems might integrate, the customer-facing branch technology under the Territorial Savings Bank trade name will likely remain operational, at least initially.

Finance: draft 13-week cash view by Friday

Territorial Bancorp Inc. (TBNK) - Canvas Business Model: Revenue Streams

You're looking at the core ways Territorial Bancorp Inc. generated revenue before its merger completion in early 2025. For a community bank focused on Hawaii, the story is almost always about the spread between what they earn on loans and what they pay for deposits.

Net Interest Income (NII) from loan and investment securities portfolios is the engine room. For the quarter ended September 30, 2024, Territorial Bancorp Inc. reported Net Interest Income of $7.5 million, down from $10 million in the same quarter of the prior year. This decline reflects the pressure from rising interest expenses outpacing interest income growth in that period.

Interest income on loans, primarily residential mortgages, forms the bulk of the interest earnings. In the fourth quarter of 2024, total interest income was reported at $17.91 million. The loan portfolio as of December 31, 2024, included Nonresidential Real Estate Loans totaling $11.6 million, which represented 0.9% of the total loan portfolio. Total deposits, the primary funding source, stood at $1.7 billion at the end of 2024.

Noninterest income provides diversification, though it's a smaller piece of the pie for Territorial Bancorp Inc. For the full year ended December 31, 2024, Noninterest income was $2.6 million. This was driven by items like income from bank-owned life insurance and other miscellaneous sources.

Specific components of that noninterest income include service charges, fees, and income from agency activities. While exact breakdowns for late 2025 aren't available due to the merger, the full-year 2024 figures give you a sense of scale:

• Full Year 2024 Noninterest Income: $2.6 million
• Nonresidential Real Estate Loans as percentage of total loan portfolio (Dec 31, 2024): 0.9%
• Total Deposits (Dec 31, 2024): $1.7 billion

Here's a quick look at the latest reported revenue components for Territorial Bancorp Inc. before the merger:

Revenue Component	Period Ending	Amount (USD)
Net Interest Income	Q3 2024	$7.5 million
Total Interest Income	Q4 2024	$17.91 million
Noninterest Income	Full Year 2024	$2.6 million
Nonresidential Real Estate Loans (as % of Portfolio)	12/31/2024	0.9%