American Savings Bank’s earnings rise 1.5 percent
American Savings Bank said today its earnings rose 1.5 percent in the third quarter fueled by healthy loan growth, the sale of real estate, and fees related to deposit products.
The state’s third-largest bank, a subsidiary of Hawaiian Electric Industries Inc., posted net income of $13.5 million compared with $13.3 million in the year-earlier period.
Loans rose 4.6 percent to $4.54 billion from $4.34 billion while the sale of real estate and fees related to deposit products boosted American Savings’ noninterest income 21.2 pecent to $18.5 million from $15.2 million.
Corporate parent HEI is scheduled to report is full earnings on Thursday.