Friday, April 18, 2014         

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

American Savings' profits decline 15.2 percent

By Dave Segal

LAST UPDATED: 03:16 p.m. HST, Jan 30, 2014

<br />Craig T. kojima / ckojima@staradvertiser.com<br />@Caption1:American Savings Bank, the state's fourth-largest bank, said its non-interest income rose 7.2 percent to <br />$16.6 million from $15.4 million a year ago. This is American Savings branch is on Piikoi Street.<br />

American Savings Bank showed strong loan growth in the fourth quarter but net income fell 15.2 percent primarily due to lower gains on residential mortgage sales and less fee income the bank collected from debit card transactions.

The state's third-largest bank said today it had earnings of $12.2 million compared with $14.4 million in the year-earlier quarter.

For the year, American Savings' net income slipped 1.9 percent to $57.5 million from $58.6 million in 2012.

American Savings, a subsidiary of Hawaiian Electric Industies Inc,  announced its earnings after  the market closed today. HEI will release its full earnings report on Feb. 18.

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Breaking News