American Savings Bank, a Hawaii community bank with 35 branches across the state, raised $129 million by offering 8.1 million shares (100% secondary) at $16, the midpoint of the proposed range. At pricing, the company commands a fully diluted market value of $1.0 billion. The offering contained 0.6 million more shares than anticipated. Existing stockholder CDI American had indicated on $34 million worth of shares in the offering (26% of the deal).
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. It is a national bank regulated by the OCC and operates 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 will trade on the NYSE under the symbol ASBH. Piper Sandler and Keefe Bruyette Woods acted as joint bookrunners on the deal.
