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Private company

Territorial Bancorp Inc.

Territorial Bancorp Inc. is a savings institution company.1 It is headquartered in Honolulu, Hawaii.1

Last updated Oct 21, 2026.

Overview

  • IndustrySavings Institution, Federally Chartered1
  • HeadquartersHonolulu, Hawaii1
  • Business address1003 Bishop Street, Pauahi Tower Suite 500, Honolulu, Hi 968132
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Territorial Bancorp Inc. (the Company) is a Maryland corporation and owns 100% of the outstanding common stock of Territorial Savings Bank (the Bank). In 2009, we completed our initial public offering of common stock in connection with the mutual-to-stock conversion of Territorial Mutual Holding Company. Since the completion of our initial public offering, we have not engaged in any significant business activity other than owning the common stock of and having savings deposits in Territorial Savings Bank, paying dividends and repurchasing shares of our common stock. At December 31, 2024, we had consolidated assets of $2.2 billion, consolidated deposits of $1.7 billion and consolidated stockholders’ equity of $248.4 million.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-271.2%Net margin4
-1.3%Revenue growth, 20244
-1.7%Return on equity4
-$8.5MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Income tax100¢$2.4M

Out of $1.6M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$1.6M in 2024−27% since 2018
0$1.0M$2.0M$3.0M$4.0M2018: $2.2M$2.2M20182019: $2.5M$2.5M2019+17%2020: $3.1M$3.1M2020+20%2021: $3.2M$3.2M2021+5%2022: $3.4M$3.4M2022+7%2023: $1.6M$1.6M2023−53%2024: $1.6M$1.6M2024−1%
Net income567894-$4.3M in 2024
-$10.0M0$10.0M$20.0M$30.0M2018: $19.2M$19.2M20182019: $22.0M$22.0M2019+14%2020: $18.6M$18.6M2020−15%2021: $17.4M$17.4M2021−6%2022: $16.2M$16.2M2022−7%2023: $5.0M$5.0M2023−69%2024: -$4.3M-$4.3M2024
Fiscal year2018201920202021202220232024
Revenue$2.2M5$2.5M6$3.1M7$3.2M8$3.4M9$1.6M4$1.6M4
Interest$13.5M5$17.0M6$12.2M7$6.3M8$7.2M9$26.5M9
Income before tax$23.8M8$21.5M9$6.8M4-$6.7M4
Income tax$6.1M5$6.3M6$6.7M7$6.4M8$5.3M9$1.8M4-$2.4M4
Net income$19.2M5$22.0M6$18.6M7$17.4M8$16.2M9$5.0M4-$4.3M4
Earnings per share$2.075$2.386$2.037$1.928$1.819$0.584-$0.504
Earnings per share (diluted)$2.035$2.346$2.017$1.908$1.809$0.574-$0.504
Shares (weighted, basic)9.1M shares88.9M shares98.6M shares48.6M shares4
Shares (weighted, diluted)9.1M shares88.9M shares98.7M shares48.6M shares4

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Corporate structure

Territorial Bancorp Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Territorial Bancorp Inc.

  • Territorial Bancorp Inc. Honolulu, Hawaii

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Territorial Bancorp Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$221.0K9 Dec 31, 2023$263.0K9 Dec 31, 2022−16.0%
Property and equipment, before depreciation$26.7M9 Dec 31, 2023$26.8M9 Dec 31, 2022−0.3%
Accumulated depreciation$19.4M4 Dec 31, 2024$19.8M4 Dec 31, 2023−1.9%
Property and equipment, net$7.3M4 Dec 31, 2024$7.2M4 Dec 31, 2023+1.3%
Operating-lease assets (leased space)$12.5M4 Dec 31, 2024$12.4M4 Dec 31, 2023+1.2%

Real estate and locations

ItemLatestA year beforeChange
Stores284 Dec 31, 2024289 Dec 31, 20230%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$123.5M4 Dec 31, 2024$126.7M4 Dec 31, 2023−2.5%
Debt securities available for sale$18.5M4 Dec 31, 2024$20.2M4 Dec 31, 2023−8.3%
Debt securities held to maturity$645.7M4 Dec 31, 2024$685.7M4 Dec 31, 2023−5.8%
Deposits held (banks)$1.7B4 Dec 31, 2024$1.6B4 Dec 31, 2023+5.0%

Properties, in its own words

We operate from our corporate office in Honolulu, Hawaii, and from our 28 full-service branches located in the State of Hawaii. Of our 28 branches, 23 are located on the island of Oahu, and all but one of our branches are leased properties. The net book value of our premises, land and equipment was $7.2 million at December 31, 2023.

Item 2 of the 10-K filed Mar 31, 2025.3

Leadership

Who has led Territorial Bancorp Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Allan S. Kitagawa2009–2025

Chair

  1. Allan S. Kitagawa2009–2025

President

  1. Allan S. Kitagawa2009–2025

Chief operating officer

  1. Ralph Y. Nakatsuka2009–2025
  2. Vernon Hirata2023–2025
2010201520202025
Board members and other officers (15)

Timeline

  1. Apr 2, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights29
  2. Mar 6, 20258-K Other events30
  3. Jan 31, 20258-K Results of operations31
  4. Nov 7, 20248-K Shareholder vote32
  5. Oct 28, 20248-K Results of operations33
  6. Jul 26, 20248-K Results of operations34
  7. May 20, 20248-K Shareholder vote; Other events35
  8. May 13, 20248-K Other events36
  9. May 3, 20248-K Results of operations37
  10. May 1, 20248-K Entered a material agreement38
  11. Apr 29, 20248-K Other events39
  12. Mar 7, 20248-K Executive or director change; Other events40
  13. Jul 8, 2009New chief executive Allan S. Kitagawa becomes CEO13

Calendar

When it reported results

  1. Jan 31, 2025Reported quarterly or annual results31
  2. Oct 28, 2024Reported quarterly or annual results33
  3. Jul 26, 2024Reported quarterly or annual results34
  4. May 3, 2024Reported quarterly or annual results37
  5. Jan 26, 2024Reported quarterly or annual results41
  6. Oct 27, 2023Reported quarterly or annual results42
  7. Jul 28, 2023Reported quarterly or annual results43
  8. Apr 27, 2023Reported quarterly or annual results44

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

172 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 42 major events, 57 insider forms, 18 large holders, 41 other. The latest 20:

  1. Aug 12, 2025SCHEDULE 13G/A EDGAR
  2. Aug 12, 2025SCHEDULE 13G/A EDGAR
  3. Jul 15, 2025SCHEDULE 13G/A EDGAR
  4. Apr 14, 202515-12G EDGAR
  5. Apr 2, 20254 EDGAR
  6. Apr 2, 20254 EDGAR
  7. Apr 2, 20254 EDGAR
  8. Apr 2, 20254 EDGAR
  9. Apr 2, 20254 EDGAR
  10. Apr 2, 20254 EDGAR
  11. Apr 2, 20254 EDGAR
  12. Apr 2, 20254 EDGAR
  13. Apr 2, 20254 EDGAR
  14. Apr 2, 20254 EDGAR
  15. Apr 2, 20254 EDGAR
  16. Apr 2, 20254/A EDGAR
  17. Apr 2, 20254/A EDGAR
  18. Apr 2, 20254/A EDGAR
  19. Apr 2, 20258-K EDGAR
  20. Apr 2, 2025S-8 POS EDGAR

The 172 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 8, 2022Hirata VernonVice Chairman & Co-COOSale2,454$23.19$56.9KForm 4
Apr 7, 2022Hirata VernonVice Chairman & Co-COOSale3,546$23.45$83.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Territorial Bancorp Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTerritorial Bancorp Inc.1
  • CIK0001447051
  • Employer ID (EIN)26-46747013
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inMaryland3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6035 Savings Institution, Federally Chartered1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address1003 Bishop Street, Pauahi Tower Suite 500, Honolulu, HI 968131
  • Mailing addressP.O. Box 1481, Honolulu, HI 968061
  • Phone808-946-14001
  • Shares outstanding8,834,453 shares as of Feb 28, 20253
  • Public float$66.1M as of Jun 28, 20243
  • AuditorMoss Adams LLP, Portland, Oregon PCAOB ID 659; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceNov 14, 20081
  • Filings820 in all: 4 (347), 8-K (204), 10-Q (48), SC 13G/A (39), DEFA14A (30), 10-K (16), 3 (16), SC 13G (16)1
    All 35 form types

    11-K (15), DEF 14A (15), 4/A (7), 5 (6), ARS (6), CORRESP (6), SCHEDULE 13G/A (5), UPLOAD (5), 10-K/A (4), NT 11-K (4), S-1/A (4), S-8 (4), S-8 POS (4), 425 (3), SE (3), 424B3 (2), 11-K/A (1), 15-12G (1), 25-NSE (1), 8-A12B (1), 8-K/A (1), CERTNAS (1), DFAN14A (1), EFFECT (1), NT 10-K (1), S-1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2025
    Quarterly report (10-Q) Nov 13, 2024
    Proxy statement (DEF 14A) Apr 16, 2024
    Latest 8-K (8-K) Apr 2, 2025

Securities registered for trading

ClassSymbolExchange
Common stockTBNKNasdaq

From the cover page of the 10-K filed Mar 31, 2025 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

Legal proceedings

From time to time, we are involved as plaintiff or defendant in various legal proceedings arising in the ordinary course of business. At December 31, 2024, we were not involved in any legal proceedings, the outcome of which we believe would be material to our financial condition or results of operations.

The opening of Item 3, Legal Proceedings.3

Sources

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