American Savings Bank, a Hawaii community bank with 35 branches across the state, filed on Monday with the Office of the Comptroller of the Currency (OCC) for an initial public offering. No deal size was disclosed; we estimate it could raise $50 million.
American Savings Bank provides a full suite of financial products and services, including deposits, loans, insurance, cash management, merchant services, and investment services to personal, small business, and commercial customers across Hawaii. The bank operates a statewide network of 35 branches and over 120 automated teller machines, complemented by a digital banking platform. As a national bank regulated by the OCC and operating without a holding company, which means the Federal Reserve is not one of its primary regulators. As of June 30, 2026, the bank served nearly 400,000 customers and had total assets of $9.0 billion, total loans of $6.2 billion, total deposits of $8.2 billion, and total stockholders' equity of $692 million.
The Honolulu, HI-based company was founded in 1925 and booked $364 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol ASBH. Piper Sandler and Keefe Bruyette Woods are the joint bookrunners on the deal. No pricing terms were disclosed.
