American Savings Bank Stock Begins Trading on NYSE

Letter: HECO bank divestiture was potentially ill-timed | Honolulu Star-Advertiser

The recent article about the American Savings Bank initial public stock sale missed one salient fact: The executive group that bought out 90% of the bank from Hawaiian Electric appears to have doubled their investment in less than two years (“Hawaii’s American Savings Bank completes initial public stock sale,” Star-Advertiser, Sept. 18). Their initial 90% purchase cost $405 million; the bank, after its IPO, is now valued at $1.1 billion.

American Savings Bank stock begins trading on NYSE

The company with 35 branches and $9 billion in assets sold about 8 million shares of stock, or about 12% of the company, for $129 million, in its initial public offering.

American Savings Bank Announces Closing of Upsized Initial Public Offering and Full Over-Allotment Option Exercise

HONOLULU--(BUSINESS WIRE)--Sep 21, 2026-