American Savings Bank (ASB) is well positioned and stands ready to support our community as families heal and rebuild in the aftermath of the Maui wildfires.

“ASB has served the residents and businesses of Hawaii for nearly 100 years. We are heartbroken for our community but committed to use our strong liquidity and capital position to help Maui rebuild,” said Ann Teranishi, president and CEO of American Savings Bank. “We are here to support our community and work with borrowers through this challenging time and beyond.”

ASB is an independent company founded in 1925. ASB’s loyal and long-tenured deposit base demonstrates the value of its customer relationships: 79% of its deposits are FDIC-insured and 7% are fully collateralized. ASB has deep lending capacity, with 273% liquidity coverage for uninsured deposits. ASB customer deposits are safe. There is no risk to customer deposits as a result of legal claims related to the fires.

ASB has consistently been well capitalized above the regulatory minimums, with a leverage ratio of 7.79% and Common Equity Tier 1 Capital Ratio of 12.23%. ASB has over $3.1 billion of secured borrowing capacity at the Federal Home Loan Bank and Federal Reserve.

ASB remains focused on supporting its teammates, customers, community and partners during this challenging time. ASB recently announced a $100,000 commitment, including $50,000 to Hawaii Community Foundation’s (HCF) Maui Strong campaign, $25,000 to American Red Cross and $25,000 to Maui United Way. To date, ASB has collected more than $160,000, as part of the Hawaii Bankers Association’s Aloha for Maui Fund. All funds from this effort will be provided to HCF’s Maui Strong campaign.

Currently, all ASB’s Maui ATM fees and various other fees are being waived. ASB is also offering 90-day forbearance and deferment for commercial and consumer loans. Customers can also apply for an emergency personal line of credit up to $5,000.

For more information on ASB’s Maui Relief & Assistance Programs, visit www.asbhawaii.com/maui.

About American Savings Bank

American Savings Bank (ASB) has been serving Hawaii’s businesses and communities since 1925 and provides a full range of financial products and services, including business and consumer banking, home loans, insurance and investments. ASB is one of Hawaii’s leading financial institutions offering easy and convenient online banking services and branch locations throughout the state with evening, weekend and holiday hours. ASB provides Hawaii’s consumers and businesses with more extended weekday and weekend hours than other similarly sized local banks, as well as convenient in-store locations. ASB was voted Best Bank in Hawaii in a Forbes survey, where residents across the nation ranked ASB highly in the categories of customer service, quality of financial advice, transparent and reasonable fees, ease of website navigation, branch services and overall level of trust.

ASB matches its exceptional customer experience with an employee experience that has garnered local and national awards. ASB has been recognized as one of the “Best Places to Work” by Hawaii Business Magazine for 14 consecutive years and honored nationally as one of the “Best Banks to Work For” by American Banker Magazine. Fortune Magazine has recognized ASB as one of the 100 Best Workplaces for Women and 50 Best Workplaces for Diversity. For nearly a century, ASB has helped to build strong communities. Through its Seeds of Service program, ASB teammates have contributed more than 112,000 hours of volunteer service and ASB has donated millions of dollars to Hawaii’s nonprofits and community organizations. For more information, visit https://www.asbhawaii.com/ or follow American Savings Bank on Facebook, Instagram and LinkedIn.

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