Bank of Hawaii Corp. said it sold some of its shares in Visa Inc., whose $18 billion initial public offering last month was the largest ever.

In a filing with the Securities & Exchange Commission yesterday, the bank said it expects to increase its allowance for loan and lease losses but did not disclose the size of the allowance.

The bank said the events will contribute to a $7 million to $9 million increase in the company's first quarter earnings.