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    <div style="text-align: right; font-weight: bold;">Registration No. 333-</div>
    <div style="text-align: center;"><font style="font-weight: bold;">As filed with the Securities and Exchange Commission on March 9, 2020</font><font style="font-size: 12pt; font-weight: bold;"></font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">UNITED STATE</font><font style="font-size: 12pt; font-weight: bold;">S</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">Washington, D.C.&#160; 20549</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;"></font><font style="font-size: 12pt;">___________________</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt;"> <br>
      </font></div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">FORM S-8</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">REGISTRATION STATEMENT</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNDER</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Territorial Bancorp Inc.</div>
    <div style="text-align: center; font-size: 8pt;">(Exact Name of Registrant as Specified in its Charter)</div>
    <div style="text-align: center; font-size: 8pt;"> <br>
    </div>
    <div style="text-align: center; font-size: 8pt;">
      <div><br>
      </div>
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              <div style="text-align: center; font-size: 12pt; font-weight: bold;">Maryland</div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center; font-size: 12pt; font-weight: bold;"><font style="font-weight: bold;">26-4674701</font></div>
            </td>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center; font-size: 8pt;">(State or Other Jurisdiction of</div>
              <div style="text-align: center; font-size: 8pt;">Incorporation or Organization)</div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center; font-size: 8pt;">(I.R.S. Employer Identification No.)</div>
            </td>
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      <div><br>
      </div>
    </div>
    <br>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">1132 Bishop Street, Suite 2200</div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">Honolulu, Hawaii 96813</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;"></font><font style="font-size: 8pt;">(Address of Principal Executive Offices)</font><font style="font-size: 12pt; font-weight: bold;"></font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">Territorial Bancorp Inc. 2019 Equity Incentive Plan</font><font style="font-size: 8pt;"></font></div>
    <div style="text-align: center;"><font style="font-size: 8pt;">(Full Title of the Plan)</font></div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;">Copies to:</div>
    <br>
    <div style="text-align: center;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z850a44fd630c435f83211f00e5814621">

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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;"><font style="font-size:10.0pt;mso-bidi-font-size:12.0pt; font-family:'Times New Roman',serif;mso-fareast-font-family:'Times New Roman'; mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA">Mr. Allan S. Kitagawa</font></div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">Lawrence M.F. Spaccasi, Esquire</div>
              </div>
            </td>
          </tr>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">Chairman of the Board, President and Chief Executive Officer</div>
              </div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">Luse Gorman, PC.</div>
              </div>
            </td>
          </tr>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">Territorial Bancorp Inc.</div>
              </div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;">5335 Wisconsin Ave., N.W., Suite 780</div>
            </td>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">1132 Bishop Street, Suite 2200</div>
              </div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;">Washington, DC 20015-2035</div>
            </td>
          </tr>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">Honolulu, Hawaii 96813</div>
              </div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;">(202) 274-2000</div>
            </td>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif;">(808) 946-1400</div>
              </div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">
              <div style="text-align: center;"><br>
              </div>
            </td>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">(Name, Address and Telephone</div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">&#160;</td>
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            <td style="width: 47.35%; vertical-align: top;">
              <div style="text-align: center;">Number of Agent for Service)</div>
            </td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 47.35%; vertical-align: top;">&#160;</td>
            <td style="width: 5.34%; vertical-align: top;">&#160;</td>
            <td style="width: 47.32%; vertical-align: top;">&#160;</td>
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    </div>
    <div style="text-indent: 39.7pt;"><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &#8220;large
      accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;):</div>
    <div><br>
    </div>
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          <td style="width: 66.66%; vertical-align: top;">
            <div>Large accelerated filer &#9723;</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div>Accelerated filer &#8999;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 66.66%; vertical-align: top;">
            <div>Non-accelerated filer &#9723;&#160; (Do not check if a smaller reporting company)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div>Smaller reporting company &#8999;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 66.66%; vertical-align: top;">
            <div>Emerging growth company &#9723;</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">&#160;</td>
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    <div><br>
    </div>
    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 7(a)(2)(B) of the Securities Act. &#9723;</div>
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    <div style="text-align: center; font-weight: bold;">CALCULATION OF REGISTRATION FEE</div>
    <div><br>
    </div>
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            <div style="text-align: center;">Title of</div>
            <div style="text-align: center;">Securities</div>
            <div style="text-align: center;">to be</div>
            <div style="text-align: center;">Registered</div>
          </td>
          <td style="width: 18.27%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Amount</div>
            <div style="text-align: center;">to be</div>
            <div style="text-align: center;">Registered<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 19.62%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Proposed</div>
            <div style="text-align: center;">Maximum</div>
            <div style="text-align: center;">Offering Price</div>
            <div style="text-align: center;">Per Share</div>
          </td>
          <td style="width: 21.43%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Proposed</div>
            <div style="text-align: center;">Maximum</div>
            <div style="text-align: center;">Aggregate</div>
            <div style="text-align: center;">Offering Price</div>
          </td>
          <td style="width: 18.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Amount of</div>
            <div style="text-align: center;">Registration</div>
            <div style="text-align: center;">Fee</div>
          </td>
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          <td style="width: 22.12%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div>Common stock, par value $0.01 per share</div>
          </td>
          <td style="width: 18.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">150,000</div>
          </td>
          <td style="width: 19.62%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$25.88</div>
          </td>
          <td style="width: 21.43%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$3,882,000</div>
          </td>
          <td style="width: 18.56%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">$504<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
          </td>
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    <div><br>
    </div>
    <div>_______________________</div>
    <div>
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              <div>(1)</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Represents the maximum number of shares of the registrant&#8217;s common stock, par value $0.01 (&#8220;Common Stock&#8221;) reserved for issuance under the Territorial Bancorp Inc. 2019 Equity Incentive Plan (the &#8220;Equity
                Plan&#8221;).&#160; Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) this registration statement also covers additional shares that may become issuable under the Equity Plan by reason of certain corporate
                transactions or events, including any stock split, stock dividend or similar adjustment of the outstanding common stock of Territorial Bancorp Inc. (the &#8220;Company&#8221;) pursuant to 17 C.F.R. Section&#160;230.416(a).</div>
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            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Determined pursuant to 17 C.F.R. Section 230.457(h) and based upon the high and low sales price of the Company&#8217;s Common Stock as reported on the Nasdaq Global Select Market.</div>
            </td>
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    <div><br>
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    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">This Registration Statement shall become effective upon filing in accordance with Section 8(a) of the Securities Act of 1933 and 17 C.F.R. &#167; 230.462.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">PART I.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Items 1 and 2.&#160; Plan Information and Registrant Information and Employee Plan Annual Information</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The documents containing the information specified in Part I of Form S-8 have been or will be sent or given to participants in the Stock Benefit Plan as specified by Rule
      428(b)(1) promulgated by the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Such documents are not being filed with the Commission, but constitute (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of
      Part II hereof) a prospectus that meets the requirements of Section 10(a) of the Securities Act.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">PART II.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 3.&#160; Incorporation of Documents by Reference</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The following documents previously or concurrently filed with the Commission are hereby incorporated by reference in this Registration Statement:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">a)&#160; The Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2018 (File No. 001-34403), filed with the Commission on March 15, 2019, pursuant to Section 13(a) of
      the Securities Exchange Act of 1934, as amended;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">b) All other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, since the end of the year covered by the Annual
      Report on Form 10-K referred to in (a) above; and</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">c) The description of the Company&#8217;s common stock contained in the Registration Statement on Form 8-A filed with the Commission&#160; on July 8, 2009 (File No. 001-34403).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Securities Exchange Act of 1934, as amended, after the
      date hereof, and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed incorporated by reference into this
      Registration Statement and to be a part thereof from the date of the filing of such documents.&#160; Any statement contained in the documents incorporated, or deemed to be incorporated, by reference herein or therein shall be deemed to be modified or
      superseded for purposes of this Registration Statement and the prospectus to the extent that a statement contained herein or therein or in any other subsequently filed document which also is, or is deemed to be, incorporated by reference herein or
      therein modifies or supersedes such statement.&#160; Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement and the prospectus.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">All information appearing in this Registration Statement and the prospectus is qualified in its entirety by the detailed information, including financial statements, appearing in
      the documents incorporated herein or therein by reference.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 4.&#160; Description of Securities</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Not applicable.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 5.&#160; Interests of Named Experts and Counsel</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">None.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 6.&#160; Indemnification of Directors and Officers</div>
    <div style="text-indent: 48.95pt; margin-top: 2.6pt;">Articles 10 and 11 of the Articles of Incorporation of Territorial Bancorp Inc. (the &#8220;Corporation&#8221;) set forth circumstances under which directors, officers, employees and agents of the Corporation
      may be insured or indemnified against liability which they incur in their capacities as such:</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt; font-weight: bold;"><u>ARTICLE&#160;10. Indemnification, etc. of Directors and Officers.</u></div>
    <div style="text-indent: 24.5pt; margin-top: 2.6pt;"><font style="font-weight: bold;">A. Indemnification. </font>The Corporation shall indemnify (1)&#160;its current and former directors and officers, whether serving the Corporation or at its request any
      other entity, to the fullest extent required or permitted by the Maryland General Corporation Law (&#8220;MGCL&#8221;) now or hereafter in force, including the advancement of expenses under the procedures and to the fullest extent permitted by law, and (2)&#160;other
      employees and agents to such extent as shall be authorized by the Board of Directors and permitted by law; provided, however, that, except as provided in Section&#160;B of this Article 10 with respect to proceedings to enforce rights to indemnification,
      the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the Corporation.</div>
    <div><font style="font-weight: bold;">B. Procedure. </font>If a claim under Section&#160;A of this Article&#160;10 is not paid in full by the Corporation within sixty (60)&#160;days after a written claim has been received by the Corporation, except in the case of a
      claim for an advancement of expenses, in which case the applicable period shall be twenty (20)&#160;days, the indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful in whole or in
      part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall also be entitled to be reimbursed the expense of prosecuting or defending such suit. It
      shall be a defense to any action for advancement of expenses that the Corporation has not received both (i)&#160;an undertaking as required by law to repay such advances in the event it shall ultimately be determined that the standard of conduct has not
      been met and (ii)&#160;a written affirmation by the indemnitee of his good faith belief that the standard of conduct necessary for indemnification by the Corporation has been met. In (i)&#160;any suit brought by the indemnitee to enforce a right to
      indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and (ii)&#160;any suit by the Corporation to recover an advancement of expenses pursuant to the terms of
      an undertaking the Corporation shall be entitled to recover such expenses upon a final adjudication that, the indemnitee has not met the applicable standard for indemnification set forth in the MGCL. Neither the failure of the Corporation (including
      its Board of Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the
      applicable&#160; <font style="font-size: 8pt;"></font>standard of conduct set forth in the MGCL, nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel, or its stockholders) that the indemnitee has not
      met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the indemnitee, be a defense to such suit. In any suit brought by the
      indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not
      entitled to be indemnified, or to such advancement of expenses, under this Article&#160;10 or otherwise shall be on the Corporation.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;"><font style="font-weight: bold;">C. Non-Exclusivity. </font>The rights to indemnification and to the advancement of expenses conferred in this Article&#160;10 shall not be exclusive of any other right
      that any Person may have or hereafter acquire under any statute, these Articles, the Corporation&#8217;s Bylaws, any agreement, any vote of stockholders or the Board of Directors, or otherwise.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;"><font style="font-weight: bold;">D. Insurance. </font>The Corporation may maintain insurance, at its expense, to insure itself and any director, officer, employee or agent of the Corporation or
      another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such Person against such expense, liability or loss under the MGCL.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;"><font style="font-weight: bold;">E. Miscellaneous. </font>The Corporation shall not be liable for any payment under this Article&#160;10 in connection with a claim made by any indemnitee to the extent
      such indemnitee has otherwise actually received payment under any insurance policy, agreement, or otherwise, of the amounts otherwise indemnifiable hereunder. The rights to indemnification and to the advancement of expenses conferred in Sections&#160;A
      and B of this Article&#160;10 shall be contract rights and such rights shall continue as to an indemnitee who has ceased to be a director or officer and shall inure to the benefit of the indemnitee&#8217;s heirs, executors and administrators.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;"><font style="font-weight: bold;">F.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 11.5pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Limitations


        Imposed by Federal Law.</font>&#160; Notwithstanding any other provision set forth in this Article 10, in no event shall any payments made by the Corporation pursuant to this Article 10 exceed the amount permissible under applicable federal law,
      including, without limitation, Section 18(k) of the Federal Deposit Insurance Act and the regulations promulgated thereunder.</div>
    <div style="margin-top: 5.15pt;"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
      </font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;">Any repeal or modification of this Article&#160;10 shall not in any way diminish any rights to indemnification or advancement of expenses of such director or officer or the obligations of the Corporation
      arising hereunder with respect to events occurring, or claims made, while this Article&#160;10 is in force.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;"><font style="font-weight: bold;">ARTICLE&#160;11. Limitation of Liability. </font>An officer or director of the Corporation, as such, shall not be liable to the Corporation or its stockholders for money
      damages, except (A)&#160;to the extent that it is proved that the Person actually received an improper benefit or profit in money, property or services, for the amount of the benefit or profit in money, property or services actually received; or (B)&#160;to
      the extent that a judgment or other final adjudication adverse to the Person is entered in a proceeding based on a finding in the proceeding that the Person&#8217;s action, or failure to act, was the result of active and deliberate dishonesty and was
      material to the cause of action adjudicated in the proceeding; or (C)&#160;to the extent otherwise provided by the MGCL. If the MGCL is amended to further eliminate or limit the personal liability of officers and directors, then the liability of officers
      and directors of the Corporation shall be eliminated or limited to the fullest extent permitted by the MGCL, as so amended.</div>
    <div style="text-indent: 24.5pt; margin-top: 5.15pt;">Any repeal or modification of the foregoing paragraph by the stockholders of the Corporation shall not adversely affect any right or protection of a director or officer of the Corporation existing
      at the time of such repeal or modification.</div>
    <div style="font-size: 8pt;">&#160;</div>
    <div style="text-align: justify; font-weight: bold;">Item 7.&#160; Exemption From Registration Claimed.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Not applicable.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 8.&#160; List of Exhibits.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za4e261202e73407cbcf1e9c554aa36bd">

        <tr>
          <td style="width: 16.42%; vertical-align: bottom; border-bottom: 2px solid black;">
            <div style="text-align: center;">Regulation S-K</div>
            <div style="text-align: center;">Exhibit Number</div>
          </td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: bottom; border-bottom: 2px solid black;">
            <div style="text-align: center;">Document</div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: bottom; border-bottom: 2px solid black;">
            <div style="text-align: center;">Reference to Prior Filing or</div>
            <div style="text-align: center;">Exhibit No. Attached Hereto</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="http://www.sec.gov/Archives/edgar/data/1447051/000119312508236986/dex4.htm">4</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="http://www.sec.gov/Archives/edgar/data/1447051/000119312508236986/dex4.htm">Form of Common Stock Certificate</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>*</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh5-s8_030920.htm">5</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh5-s8_030920.htm">Opinion of Luse Gorman, PC</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="http://www.sec.gov/Archives/edgar/data/1447051/000104746919002271/a2238132zdef14a.htm">10.1</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="http://www.sec.gov/Archives/edgar/data/1447051/000104746919002271/a2238132zdef14a.htm">Territorial Bancorp Inc. 2019 Equity Incentive Plan</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>**</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-2_s8030920.htm">10.2</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-2_s8030920.htm">Form of Incentive Stock Option Agreement</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-3_s8030920.htm">10.3</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-3_s8030920.htm">Form of Non-Qualified Stock Option Agreement</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-4_s8030920.htm">10.4</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-4_s8030920.htm">Form of Director Restricted Stock Award Agreement</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-5_s8030920.htm">10.5</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-5_s8030920.htm">Form of Employee Restricted Stock Award Agreement</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-6_s8030920.htm">10.6</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-6_s8030920.htm">Form of Restricted Stock Unit Agreement (time-based)</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.6</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh10-7_s8030920.htm">10.7</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh10-7_s8030920.htm">Form of Restricted Stock Unit Agreement (performance-based)</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 10.7</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh5-s8_030920.htm">23.1</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh5-s8_030920.htm">Consent of Luse Gorman, PC</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Contained in Exhibit 5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="exh23-2_s8030920.htm">23.2</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="exh23-2_s8030920.htm">Consent of Independent Registered Public Accounting Firm (Moss Adams LLP)</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Attached as Exhibit 23.2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">&#160;</td>
          <td style="width: 2.66%; vertical-align: top;">&#160;</td>
          <td style="width: 52.08%; vertical-align: top;">&#160;</td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.42%; vertical-align: top;">
            <div style="text-align: center;"><a href="#POWEROFATTORNEY">24</a></div>
          </td>
          <td style="width: 2.66%; vertical-align: top;"><br>
          </td>
          <td style="width: 52.08%; vertical-align: top;">
            <div><a href="#POWEROFATTORNEY">Power of Attorney</a></div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 26.52%; vertical-align: top;">
            <div>Contained on Signature Page</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 36pt; margin-bottom: 12pt;"><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 324pt" id="TRGRRTFtoHTMLTab">&#160;</font><br>
    </div>
    <div style="text-indent: -36pt; margin-left: 36pt; margin-bottom: 12pt;"><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 324pt" id="TRGRRTFtoHTMLTab"> <br>
      </font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3042289afc4f4704951c1314041f7bf6">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">*</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Incorporated by reference to Exhibit 4 to the Registration Statement on Form S-1 (File No. 333-155388) originally filed by the Company under the Securities Act of 1933 with the Commission on November 14, 2008, and all amendments or
                  reports filed for the purpose of updating such description.</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0ceeb02fa57042d0b82e39cddf888be3">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">**</td>
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                <div>Incorporated by reference to Appendix A to the proxy statement for the Annual Meeting of Stockholders of Territorial Bancorp Inc. (File No. 001-34403), filed by Territorial Bancorp Inc. under the Securities Exchange Act of 1934 on
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              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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    <div style="text-align: justify; text-indent: -27.35pt; margin-left: 27.35pt; font-weight: bold;">Item 9.&#160; Undertakings</div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The undersigned Registrant hereby undertakes:</div>
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    <div style="text-align: justify; margin-left: 72pt; margin-bottom: 12pt;">(i)<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>to include any prospectus required by Section 10(a)(3) of the
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    <div style="text-align: justify; margin-left: 72pt; margin-bottom: 12pt;">(ii)<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>to reflect in the prospectus any facts or events arising
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      Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (section 230.424(b)) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-weight: bold;">The Registrant.</font>&#160; Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to
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    <div>
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          <tr>
            <td style="width: 44.94%; vertical-align: top;">&#160;</td>
            <td style="width: 10.14%; vertical-align: top;">&#160;</td>
            <td style="width: 44.92%; vertical-align: top;">
              <div style="text-align: justify; font-weight: bold;">TERRITORIAL BANCORP INC.<br>
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              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
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            <td style="width: 44.92%; vertical-align: top;">&#160;<u>/s/ Allan S. Kitagawa</u></td>
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            <td style="width: 44.94%; vertical-align: top;">&#160;</td>
            <td style="width: 10.14%; vertical-align: top;">&#160;</td>
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            <td style="width: 44.94%; vertical-align: top;">&#160;</td>
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    <div style="text-align: center; font-weight: bold;"><a name="POWEROFATTORNEY"><!--Anchor--></a>POWER OF ATTORNEY</div>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We, the undersigned directors and officers of Territorial Bancorp Inc. (the &#8220;Company&#8221;) hereby severally constitute and appoint Allan S. Kitagawa, as our true and lawful attorney
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the date
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3.94%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3.94%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
          <td style="width: 5.48%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.12%; vertical-align: top;">&#160;March 9, 2020</td>
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          <td style="width: 5.46%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
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          <td rowspan="1" style="width: 29.14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;/s/ Francis E. Tanaka<br>
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          <td rowspan="1" style="width: 30.8%; vertical-align: top; padding-bottom: 2px;">&#160;Director</td>
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          <td rowspan="1" style="width: 29.12%; vertical-align: top; padding-bottom: 2px;">&#160;March 9, 2020</td>
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          <td rowspan="1" style="width: 29.14%; vertical-align: top;">&#160;Francis E. Tanaka<br>
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          <td rowspan="1" style="width: 30.8%; vertical-align: top;">&#160;</td>
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          <td style="width: 5.46%; vertical-align: top;">&#160;</td>
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{"company-data": {"conformed-name": "Territorial Bancorp Inc.", "cik": "0001447051", "assigned-sic": "6035", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-237039", "film-number": "20698806"}, "business-address": {"street1": "1132 BISHOP STREET", "street2": "SUITE 2200", "city": "HONOLULU", "state": "HI", "zip": "96813", "phone": "(808) 946-1400"}, "mail-address": {"street1": "P.O. BOX 1481", "city": "HONOLULU", "state": "HI", "zip": "96806"}}
Registration No. 333-
As filed with the Securities and Exchange Commission on March 9, 2020
UNITED STATE
S
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
___________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Territorial Bancorp Inc.
(Exact Name of Registrant as Specified in its Charter)
Maryland
26-4674701
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer Identification No.)
1132 Bishop Street, Suite 2200
Honolulu, Hawaii 96813
(Address of Principal Executive Offices)
Territorial Bancorp Inc. 2019 Equity Incentive Plan
(Full Title of the Plan)
Copies to:
Mr. Allan S. Kitagawa
Lawrence M.F. Spaccasi, Esquire
Chairman of the Board, President and Chief Executive Officer
Luse Gorman, PC.
Territorial Bancorp Inc.
5335 Wisconsin Ave., N.W., Suite 780
1132 Bishop Street, Suite 2200
Washington, DC 20015-2035
Honolulu, Hawaii 96813
(202) 274-2000
(808) 946-1400
(Name, Address and Telephone
Number of Agent for Service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large
      accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"):
Large accelerated filer ◻
Accelerated filer ⌧
Non-accelerated filer ◻  (Do not check if a smaller reporting company)
Smaller reporting company ⌧
Emerging growth company ◻
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 7(a)(2)(B) of the Securities Act. ◻
CALCULATION OF REGISTRATION FEE
Title of
Securities
to be
Registered
Amount
to be
Registered
(1)
Proposed
Maximum
Offering Price
Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common stock, par value $0.01 per share
150,000
$25.88
$3,882,000
$504
(2)
_______________________
(1)
Represents the maximum number of shares of the registrant's common stock, par value $0.01 ("Common Stock") reserved for issuance under the Territorial Bancorp Inc. 2019 Equity Incentive Plan (the "Equity
                Plan").  Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act") this registration statement also covers additional shares that may become issuable under the Equity Plan by reason of certain corporate
                transactions or events, including any stock split, stock dividend or similar adjustment of the outstanding common stock of Territorial Bancorp Inc. (the "Company") pursuant to 17 C.F.R. Section 230.416(a).
(2)
Determined pursuant to 17 C.F.R. Section 230.457(h) and based upon the high and low sales price of the Company's Common Stock as reported on the Nasdaq Global Select Market.
This Registration Statement shall become effective upon filing in accordance with Section 8(a) of the Securities Act of 1933 and 17 C.F.R. § 230.462.
2
PART I.
Items 1 and 2.  Plan Information and Registrant Information and Employee Plan Annual Information
The documents containing the information specified in Part I of Form S-8 have been or will be sent or given to participants in the Stock Benefit Plan as specified by Rule
      428(b)(1) promulgated by the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act").
Such documents are not being filed with the Commission, but constitute (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of
      Part II hereof) a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II.
Item 3.  Incorporation of Documents by Reference
The following documents previously or concurrently filed with the Commission are hereby incorporated by reference in this Registration Statement:
a)  The Company's Annual Report on Form 10-K for the year ended December 31, 2018 (File No. 001-34403), filed with the Commission on March 15, 2019, pursuant to Section 13(a) of
      the Securities Exchange Act of 1934, as amended;
b) All other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, since the end of the year covered by the Annual
      Report on Form 10-K referred to in (a) above; and
c) The description of the Company's common stock contained in the Registration Statement on Form 8-A filed with the Commission  on July 8, 2009 (File No. 001-34403).
All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Securities Exchange Act of 1934, as amended, after the
      date hereof, and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed incorporated by reference into this
      Registration Statement and to be a part thereof from the date of the filing of such documents.  Any statement contained in the documents incorporated, or deemed to be incorporated, by reference herein or therein shall be deemed to be modified or
      superseded for purposes of this Registration Statement and the prospectus to the extent that a statement contained herein or therein or in any other subsequently filed document which also is, or is deemed to be, incorporated by reference herein or
      therein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement and the prospectus.
All information appearing in this Registration Statement and the prospectus is qualified in its entirety by the detailed information, including financial statements, appearing in
      the documents incorporated herein or therein by reference.
Item 4.  Description of Securities
Not applicable.
Item 5.  Interests of Named Experts and Counsel
None.
3
Item 6.  Indemnification of Directors and Officers
Articles 10 and 11 of the Articles of Incorporation of Territorial Bancorp Inc. (the "Corporation") set forth circumstances under which directors, officers, employees and agents of the Corporation
      may be insured or indemnified against liability which they incur in their capacities as such:
ARTICLE 10. Indemnification, etc. of Directors and Officers.
A. Indemnification.
The Corporation shall indemnify (1) its current and former directors and officers, whether serving the Corporation or at its request any
      other entity, to the fullest extent required or permitted by the Maryland General Corporation Law ("MGCL") now or hereafter in force, including the advancement of expenses under the procedures and to the fullest extent permitted by law, and (2) other
      employees and agents to such extent as shall be authorized by the Board of Directors and permitted by law; provided, however, that, except as provided in Section B of this Article 10 with respect to proceedings to enforce rights to indemnification,
      the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the Corporation.
B. Procedure.
If a claim under Section A of this Article 10 is not paid in full by the Corporation within sixty (60) days after a written claim has been received by the Corporation, except in the case of a
      claim for an advancement of expenses, in which case the applicable period shall be twenty (20) days, the indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful in whole or in
      part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall also be entitled to be reimbursed the expense of prosecuting or defending such suit. It
      shall be a defense to any action for advancement of expenses that the Corporation has not received both (i) an undertaking as required by law to repay such advances in the event it shall ultimately be determined that the standard of conduct has not
      been met and (ii) a written affirmation by the indemnitee of his good faith belief that the standard of conduct necessary for indemnification by the Corporation has been met. In (i) any suit brought by the indemnitee to enforce a right to
      indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and (ii) any suit by the Corporation to recover an advancement of expenses pursuant to the terms of
      an undertaking the Corporation shall be entitled to recover such expenses upon a final adjudication that, the indemnitee has not met the applicable standard for indemnification set forth in the MGCL. Neither the failure of the Corporation (including
      its Board of Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the
      applicable
standard of conduct set forth in the MGCL, nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel, or its stockholders) that the indemnitee has not
      met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the indemnitee, be a defense to such suit. In any suit brought by the
      indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not
      entitled to be indemnified, or to such advancement of expenses, under this Article 10 or otherwise shall be on the Corporation.
C. Non-Exclusivity.
The rights to indemnification and to the advancement of expenses conferred in this Article 10 shall not be exclusive of any other right
      that any Person may have or hereafter acquire under any statute, these Articles, the Corporation's Bylaws, any agreement, any vote of stockholders or the Board of Directors, or otherwise.
D. Insurance.
The Corporation may maintain insurance, at its expense, to insure itself and any director, officer, employee or agent of the Corporation or
      another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such Person against such expense, liability or loss under the MGCL.
E. Miscellaneous.
The Corporation shall not be liable for any payment under this Article 10 in connection with a claim made by any indemnitee to the extent
      such indemnitee has otherwise actually received payment under any insurance policy, agreement, or otherwise, of the amounts otherwise indemnifiable hereunder. The rights to indemnification and to the advancement of expenses conferred in Sections A
      and B of this Article 10 shall be contract rights and such rights shall continue as to an indemnitee who has ceased to be a director or officer and shall inure to the benefit of the indemnitee's heirs, executors and administrators.
F.
Limitations

        Imposed by Federal Law.
Notwithstanding any other provision set forth in this Article 10, in no event shall any payments made by the Corporation pursuant to this Article 10 exceed the amount permissible under applicable federal law,
      including, without limitation, Section 18(k) of the Federal Deposit Insurance Act and the regulations promulgated thereunder.
4
Any repeal or modification of this Article 10 shall not in any way diminish any rights to indemnification or advancement of expenses of such director or officer or the obligations of the Corporation
      arising hereunder with respect to events occurring, or claims made, while this Article 10 is in force.
ARTICLE 11. Limitation of Liability.
An officer or director of the Corporation, as such, shall not be liable to the Corporation or its stockholders for money
      damages, except (A) to the extent that it is proved that the Person actually received an improper benefit or profit in money, property or services, for the amount of the benefit or profit in money, property or services actually received; or (B) to
      the extent that a judgment or other final adjudication adverse to the Person is entered in a proceeding based on a finding in the proceeding that the Person's action, or failure to act, was the result of active and deliberate dishonesty and was
      material to the cause of action adjudicated in the proceeding; or (C) to the extent otherwise provided by the MGCL. If the MGCL is amended to further eliminate or limit the personal liability of officers and directors, then the liability of officers
      and directors of the Corporation shall be eliminated or limited to the fullest extent permitted by the MGCL, as so amended.
Any repeal or modification of the foregoing paragraph by the stockholders of the Corporation shall not adversely affect any right or protection of a director or officer of the Corporation existing
      at the time of such repeal or modification.
Item 7.  Exemption From Registration Claimed.
Not applicable.
Item 8.  List of Exhibits.
Regulation S-K
Exhibit Number
Document
Reference to Prior Filing or
Exhibit No. Attached Hereto
4
Form of Common Stock Certificate
*
5
Opinion of Luse Gorman, PC
Attached as Exhibit 5
10.1
Territorial Bancorp Inc. 2019 Equity Incentive Plan
**
10.2
Form of Incentive Stock Option Agreement
Attached as Exhibit 10.2
10.3
Form of Non-Qualified Stock Option Agreement
Attached as Exhibit 10.3
10.4
Form of Director Restricted Stock Award Agreement
Attached as Exhibit 10.4
10.5
Form of Employee Restricted Stock Award Agreement
Attached as Exhibit 10.5
10.6
Form of Restricted Stock Unit Agreement (time-based)
Attached as Exhibit 10.6
10.7
Form of Restricted Stock Unit Agreement (performance-based)
Attached as Exhibit 10.7
23.1
Consent of Luse Gorman, PC
Contained in Exhibit 5
23.2
Consent of Independent Registered Public Accounting Firm (Moss Adams LLP)
Attached as Exhibit 23.2
24
Power of Attorney
Contained on Signature Page
5
*
Incorporated by reference to Exhibit 4 to the Registration Statement on Form S-1 (File No. 333-155388) originally filed by the Company under the Securities Act of 1933 with the Commission on November 14, 2008, and all amendments or
                  reports filed for the purpose of updating such description.
**
Incorporated by reference to Appendix A to the proxy statement for the Annual Meeting of Stockholders of Territorial Bancorp Inc. (File No. 001-34403), filed by Territorial Bancorp Inc. under the Securities Exchange Act of 1934 on
                  April 16, 2019.
6
Item 9.  Undertakings
The undersigned Registrant hereby undertakes:
1.
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement;
(i)
to include any prospectus required by Section 10(a)(3) of the
      Securities Act of 1933;
(ii)
to reflect in the prospectus any facts or events arising
      after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. 
      Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (section 230.424(b)) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
      price set forth in the "Calculation of Registration Fees" table in the effective registration statement;
(iii)
to include any material information with respect to the plan
      of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
provided, however
, that paragraphs 1(i) and 1(ii) above do not apply if the information required to be included in a post-effective amendment by these
      paragraphs is contained in reports filed with or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
2.
That, for the purpose of determining any liability under the
      Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof;
3.
To remove from registration by means of a post-effective
      amendment any of the securities being registered which remain unsold at the termination of the Plan;
4.
That, for purposes of determining any liability under the
      Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating
      to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof; and
5.
Insofar as indemnification for liabilities arising under the
      Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission
      such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by
      a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
      will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will
      be governed by the final adjudication of such issue.
7
SIGNATURES
The Registrant.
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to
      believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Honolulu, State of Hawaii, on
      this 9th day of March, 2020.
TERRITORIAL BANCORP INC.
By:
/s/ Allan S. Kitagawa
Allan S. Kitagawa
Chairman of the Board, President and Chief Executive Officer
(Duly Authorized Representative)
POWER OF ATTORNEY
We, the undersigned directors and officers of Territorial Bancorp Inc. (the "Company") hereby severally constitute and appoint Allan S. Kitagawa, as our true and lawful attorney
      and agent, to do any and all things in our names in the capacities indicated below which said Allan S. Kitagawa may deem necessary or advisable to enable the Company to comply with the Securities Act of 1933, and any rules, regulations and
      requirements of the Securities and Exchange Commission, in connection with the registration of shares of common stock to be granted and shares of common stock to be issued upon the exercise of stock options to be granted under the Territorial Bancorp
      Inc. 2019 Equity Incentive Plan, including specifically, but not limited to, power and authority to sign for us in our names in the capacities indicated below the registration statement and any and all amendments (including post-effective amendments)
      thereto; and we hereby approve, ratify and confirm all that said Allan S. Kitagawa shall do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the date
      indicated.
Signatures
Title
Date
/s/ Allan S. Kitagawa
Chairman of the Board, President and
March 9, 2020
Allan S. Kitagawa
Chief Executive Officer
(Principal Executive Officer)
/s/ Melvin M. Miyamoto
Senior Vice President
March 9, 2020
Melvin M. Miyamoto
and Chief Financial Officer
(Principal Financial and Accounting Officer)
/s/ Kirk W. Caldwell
Director
March 9, 2020
Kirk W. Caldwell
/s/ Howard Y. Ikeda
Director
March 9, 2020
Howard Y. Ikeda
Signatures
Title
Date
/s/ Jennifer Isobe
Director
March 9, 2020
Jennifer Isobe
/s/ David S. Murakami
Director
March 9, 2020
David S. Murakami
/s/ John M. Ohama
Director
March 9, 2020
John M. Ohama
/s/ Francis E. Tanaka
Director
March 9, 2020
Francis E. Tanaka