American Savings Bank will celebrate the opening of its Maui flagship campus May 18 at 150 Hookele St. in the Maui Business Park in Kahului.

The state’s third-largest bank said the campus will feature a training facility for employees and a new branch. The grand-opening event, which begins at 7:45 am., is free and open to the public. It will include a traditional Hawaiian blessing by Kahu Laki Ka‘ahumanu, a donation to a local charitable beneficiary, prize giveaways and refreshments.

American Savings President and CEO Rich Wacker will be on hand and will be joined by Dani Aiu, executive vice president, consumer banking, American Savings; Lynn Araki- Regan, chief of staff, Office of the Mayor, Maui County; state Rep. Justin Woodsen (D, Kahului-Wailuki-Puunene) and state Sen. Gilbert Keith-Agaran (D, Waihee-Wailuku-Kahului).

Dropbox sales rise in first post-IPO report

Dropbox Inc.’s sales topped estimates in its first quarter as a public company, lifted by growing corporate demand for paid versions of its cloud-based file-sharing software.

First-quarter profit, excluding some costs, was 8 cents a share, compared with the 4-cent average prediction of analysts polled by Bloomberg. Sales rose 28 percent to $316.3 million, Dropbox said Thursday. Analysts were projecting revenue of $309.3 million. The company also gave an upbeat forecast for second-quarter sales. Still, shares slipped about 4 percent in extended trading, after surging more than 50 percent since the company’s initial public offering in March.

Dropbox, based in San Francisco, is the leading maker of programs that let users share and synchronize digital files. To maintain revenue growth, Dropbox, which has more than 500 million registered users, must woo customers to pay for its premium products, which offer more storage and business management features. Paying users in the recent period rose 24 percent to 11.5 million.

Including a one-time expense related to restricted stock, the company’s net loss widened to $465.5 million from $33.1 million a year ago.

ON THE MOVE

DTRIC Insurance has announced the following:

>> Maureen Duffy is the company’s new commercial lines underwriting manager. She was previously an insurance trainer at Atlas Insurance and held various positions with United Property & Casualty Insurance, International Catastrophe Insurance Co. and Zephyr Insurance Co. Duffy also is an adjunct faculty member in the Business Department of Argosy University.

>> Nathan Nakanishi is the new technology services manager. He was previously the information technology operations manager at Pacific Guardian Life. Nakanishi also held IT positions at Central Pacific Bank, Datahouse, Xerox Corp. and Aston Hotels & Resorts.