comscore American Savings Bank’s earnings climb 23.4 percent | Honolulu Star-Advertiser
Business Breaking | Top News

American Savings Bank’s earnings climb 23.4 percent


    The American Savings Bank branch at 1209 Piikoi Street is seen in this photo.

American Savings Bank’s earnings jumped 23.4 percent in the fourth quarter as it continued to produce solid loan and deposit growth while waiting to find out whether parent Hawaiian Electric Industries will be acquired by a Florida utility.

The state’s third-largest bank reported today that it had net income of $15 million compared with $12.1 million in the year-earlier quarter. Loans rose 4 percent to $4.57 billion while deposits grew 8.7 percent to $5.03 billion.

For the year, American Savings’ earnings rose 6.7 percent to $54.7 million from $51.3 million in 2014.

HEI, whose proposed $4.3 billion sale to NextEra Energy is being examined by the state Public Utilities Commission, is scheduled to report its earnings on Feb. 11. American Savings would become a stand-alone bank if the PUC approves the deal.

Comments (3)

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. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Leave a Reply

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up