(Reuters) — Hawaiian Electric Industries (HEI) said on Tuesday it had closed the deal to sell a 90.1% stake in its unit American Savings Bank (ASB), helping the company raise funds for the deadly 2023 Maui wildfire settlement. The deal values the bank at $450 million, with the investors purchasing 90.1% of ASB common stock…

In a major development in Hawaii’s financial and energy sectors, Hawaiian Electric Industries (HEI) has finalized the sale of a substantial majority stake in American Savings Bank (ASB). This move, completed on December 31, 2024, marks a significant shift in the ownership structure of one of Hawaii’s largest financial institutions. Details of the Sale HEI…

As tax season officially kicks off, the saver’s credit is something that everyone who put away money for retirement last year should know about. Tax credits are one of the biggest ways in which federal and state governments are able to ease the financial strains put on taxpayers. One of the most well-known of these…

Hawaiian Electric Industries Inc. has sold over 90% of its subsidiary American Savings Bank to independent investors in a transaction that will provide HEI with much-needed funds to help pay its share of the $4 billion Maui wildfire lawsuit settlement while also keeping Hawaii’s third-largest bank under local leadership. The deal, which closed Tuesday, values…

Bridget Dandrow-Seritt The Colorado Prescription Drug Affordability Board (PDAB) launched — allegedly — to save patients money on their medications, is creating rules and procedures that not only are unlikely to create real savings but will put Colorado patients through increased bureaucratic hurdles. This issue is literally a life and death one for me. As a…

American Savings Bank’s flagship Maui location includes a new branch and training facilities for island teammates. PC: American Savings Bank. Independent investors have acquired non-controlling interests in American Savings Bank in separate transactions from Hawaiian Electric Industries Inc., the bank announced today. Among other things, HEI said the sale will give it flexibility in making…

HONOLULU (HawaiiNewsNow) – Hawaiian Electric Industries has sold its control of American Savings Bank in a $400 million deal. The transaction is a direct result of wildfires that will cost the company billions in damages to victims. Life of the Land president Henry Curtis, a close observer of Hawaiian Electric, said it’s extremely unusual for…

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1/2 Swipe or click to see more STAR-ADVERTISER / APRIL 5, 2019 American Savings Bank’s headquarters at 300 Beretania St. 2/2 Swipe or click to see more COURTESY HEI Scott Seu, president and CEO of Hawaiian Electric Industries Inc. Hawaiian Electric Industries Inc. said today it has closed the deal to sell a 90.1% stake…

The sale to investors allows the company to focus on its core utility business and legislative agenda in response to the Maui wildfires. Hawaiian Electric Industries, Inc., on Tuesday announced the sale of a 90% stake in its American Savings Bank subsidiary to independent investors, through a series of separate agreements, for $405 million in…