American Savings Bank
Corporate brand
UnclaimedAmerican Savings Bank is a Hawaii-based savings and retail banking institution headquartered in Honolulu.
Last updated August 24, 2026
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Overview
American Savings Bank, commonly abbreviated ASB, is a Hawaii-based financial institution headquartered at 300 North Beretania Street in Honolulu, near Chinatown and the city's downtown financial district. The bank developed from a Utah mutual savings-and-loan organization established in 1922 and subsequently built a statewide presence through branch openings, mergers, and acquisitions. Its historical business has centered on savings-and-loan and retail banking activities, including deposit-taking, consumer banking, residential lending, and services for business customers. The institution's roots date to September 7, 1922, when articles of incorporation were filed in Utah for a mutual savings and loan. A related organization, American Building and Loan Company, received approval to establish its first Honolulu branch in January 1925. In 1932, the two organizations combined as American Mutual Savings and Loan. The corporate name changed to American Savings and Loan Association in 1942. Expansion accelerated after the 1950s. The institution had five offices by 1958 and added four Oahu branches during the 1960s. Acquisitions then extended its reach beyond Oahu: Kauai Savings and Loan was acquired in 1971, Maui Savings & Loan was combined with the bank in 1974, and Pacific Savings and Loan Association of Hawaii was acquired in 1977. These transactions gave the institution a presence on five Hawaiian islands, while its assets reached $1 billion in 1978. In 1987, American Savings and Loan Association created a federally chartered savings-bank subsidiary called American Savings Bank, with Honolulu as its home-office location. Hawaiian Electric Industries acquired the bank from the Salt Lake City-based American Savings and Loan Association in 1988. ASB subsequently acquired First Nationwide Savings Bank's Hawaiian branches and deposits in 1990 and the assets of Bank of America Hawaii Division in 1997. The latter transaction brought the branch total to 68 and assets to $5.5 billion at that time, according to the referenced historical account. A major ownership transition occurred in December 2024, when HEI sold a 90.1% interest in the bank to a consortium of private investors in the aftermath of the Maui fires. The supplied reference does not identify the members of that consortium or provide updated financial information. It also states that ASB was scheduled to convert from a federal savings bank into a national bank, or national association, effective January 1, 2026. The institution therefore represents a Hawaii-focused banking franchise whose identity has been shaped by statewide consolidation, changing federal charters, and ownership transitions.
History
American Savings Bank traces its institutional history to Utah rather than to its later headquarters in Hawaii. On September 7, 1922, four incorporators filed articles for a mutual savings-and-loan organization in Utah. On April 24, 1923, another organization filed under the name American Building and Loan Company. The latter received permission on January 8, 1925, to establish its first Honolulu branch, providing the foundation for the institution's long-term Hawaiian presence. On February 4, 1932, Mutual Savings and Loan merged with American Building and Loan to form American Mutual Savings and Loan. The company adopted the name American Savings and Loan Association in 1942. Its early growth was based on the development of offices in Hawaii. By 1958 it operated five offices, and during the 1960s it added four branches on Oahu. The organization broadened its geographic coverage through a series of acquisitions and combinations. In 1971, it acquired Kauai Savings and Loan, adding four branches. In 1974, it merged with Maui Savings & Loan. The combined institution had locations on five islands. In 1977, the acquisition of Pacific Savings and Loan Association of Hawaii added six more Oahu locations. The following year, the organization reached $1 billion in assets, an important scale milestone in its history. A structural reorganization followed in 1987. On January 23 of that year, American Savings and Loan Association announced a separate subsidiary for its banking operations. Named American Savings Bank, the subsidiary was federally chartered and based in Honolulu. On May 26, 1988, Hawaiian Electric Industries, the parent of Hawaiian Electric Company, acquired American Savings Bank from the Salt Lake City-based American Savings and Loan Association. Under HEI ownership, ASB continued to expand through transactions involving existing Hawaiian banking operations. In 1990, it acquired First Nationwide Savings Bank's Hawaiian branches and deposits. On December 6, 1997, it acquired the assets of Bank of America Hawaii Division. That transaction brought the bank's branch total to 68 and its assets to $5.5 billion at the time reported by the reference history. The next major change came in December 2024. In the aftermath of the Maui fires, HEI sold a 90.1% stake in American Savings Bank to a consortium of private investors. The supplied reference does not identify the consortium's members or describe the terms beyond the ownership percentage. It further states that, effective January 1, 2026, ASB converted from a federal savings bank into a national bank, also known as a national association under federal banking law. These events mark a transition in both ownership and charter status while preserving the bank's Hawaii-centered identity.
- 2026
Conversion to national-bank charter
[1]The bank was scheduled to become a national bank, or national association, effective January 1, 2026.
- 2024
Majority stake sold to private-investor consortium
[1]HEI sold a 90.1% interest in the bank in December in the aftermath of the Maui fires.
- 1997
Bank of America Hawaii Division assets acquired
[1]The acquisition increased ASB's branch count to 68 and its assets to $5.5 billion at that time.
- 1990
First Nationwide Hawaiian branches and deposits acquired
[1]ASB acquired First Nationwide Savings Bank's Hawaiian branches and their deposits.
- 1988
Hawaiian Electric Industries acquires the bank
[1]HEI acquired American Savings Bank from American Savings and Loan Association on May 26.
- 1987
American Savings Bank subsidiary formed
[1]A separate federally chartered savings-bank subsidiary named American Savings Bank was announced, with its home office in Honolulu.
- 1978
Assets reach $1 billion
[1]American Savings and Loan reached the $1 billion asset milestone.
- 1977
Pacific Savings and Loan Association of Hawaii acquired
[1]The transaction added six Oahu locations.
- 1974
Maui Savings & Loan merger
[1]The merger extended the institution's branch presence to five Hawaiian islands.
- 1971
Kauai Savings and Loan acquired
[1]The acquisition added four branches and expanded the institution's presence in Hawaii.
Products and positioning
A Hawaii-focused community and retail banking institution with statewide branch heritage and savings-and-loan roots.
Deposit banking
Savings accounts
Savings accounts are consistent with the institution's savings-bank heritage and represent a core form of deposit banking. The supplied reference does not identify current account names, rates, fees, or eligibility requirements.
Retail banking
Checking accounts
Checking accounts support everyday payments and cash management for personal customers. Specific American Savings Bank account features and terms are not documented in the supplied material.
Consumer lending
Residential lending
Residential lending is part of the conventional product scope associated with a Hawaii savings-and-loan institution. The available reference does not verify particular mortgage products, rates, underwriting rules, or current availability.
Commercial banking
Business banking
Business banking may encompass commercial deposits, payments, and financing for business customers. The supplied source confirms the institution's banking identity but does not provide a current detailed business-product catalogue.
Brand decisions
2026
Convert from federal savings bank to national bankOtherBackground
The institution's federal charter structure was scheduled to change at the beginning of 2026.
Action taken
American Savings Bank was scheduled to convert to a national-bank charter, also known as a national association.
Aftermath
The supplied reference does not provide post-conversion operating or financial details.
2024
Sell a 90.1% ownership stakeM&ABackground
In the aftermath of the Maui fires, Hawaiian Electric Industries undertook a major ownership transition involving its banking subsidiary.
Action taken
HEI sold a 90.1% stake in American Savings Bank to a consortium of private investors.
Aftermath
The transaction shifted majority ownership away from HEI. The supplied material does not identify the investors or provide further transaction terms.
1987
Create a separate federally chartered savings-bank subsidiaryStrategyBackground
American Savings and Loan Association announced a structural separation for its banking operations.
Action taken
It formed American Savings Bank as a federally chartered savings bank headquartered in Honolulu.
Aftermath
The subsidiary became the operating identity subsequently associated with the Hawaii banking franchise.
Recent events
Sources8 sources
- 1American Savings Banken.wikipedia.org
- 2American Savings Bank发布2019年第三季度业绩prnewswire.com
- 3American Savings Bank Reports First Quarter 2020 Financial Resultsprnewswire.com
- 4American Savings Bank Reports First Quarter 2021 Financial Resultsprnewswire.com
- 5American Savings Bank Reports Fourth Quarter And Full Year 2019 Financial Resultsprnewswire.com
- 6American Savings Bank Reports Fourth Quarter And Full Year 2020 Financial Resultsprnewswire.com
- 7AMERICAN SAVINGS BANK REPORTS FOURTH QUARTER AND FULL YEAR 2021 FINANCIAL RESULTSprnewswire.com
- 8American Savings Bank Reports Second Quarter 2021 Financial Resultsprnewswire.com
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