American Savings Bank Reports Third Quarter 2024 Financial Results
American Savings Bank (ASB) reported Q3 2024 net income of $18.8 million, compared to a net loss of $45.8 million in Q2 2024 and net income of $11.4 million in Q3 2023. Net interest margin expanded to 2.82%, up 3 basis points from the prior quarter. Q3 net interest income was $62.2 million, with total loans at $6.1 billion and total deposits at $8.0 billion. The bank maintained strong credit quality with an allowance for credit losses ratio of 1.07% and a Tier 1 leverage ratio of 8.6%. Core net income for the quarter was $19.4 million, reflecting stable performance despite market challenges.
American Savings Bank (ASB) ha riportato un reddito netto per il terzo trimestre 2024 di 18,8 milioni di dollari, rispetto a una perdita netta di 45,8 milioni di dollari nel secondo trimestre 2024 e un reddito netto di 11,4 milioni di dollari nel terzo trimestre 2023. Il margine di interesse netto è aumentato al 2,82%, in crescita di 3 punti base rispetto al trimestre precedente. Il reddito netto da interessi per il terzo trimestre è stato di 62,2 milioni di dollari, con prestiti totali pari a 6,1 miliardi di dollari e depositi totali di 8,0 miliardi di dollari. La banca ha mantenuto un'elevata qualità creditizia con un rapporto di accantonamento per perdite creditizie dell'1,07% e un rapporto di leva Tier 1 dell'8,6%. Il reddito netto core per il trimestre è stato di 19,4 milioni di dollari, riflettendo una performance stabile nonostante le sfide di mercato.
American Savings Bank (ASB) reportó un ingreso neto de 18,8 millones de dólares para el tercer trimestre de 2024, en comparación con una pérdida neta de 45,8 millones de dólares en el segundo trimestre de 2024 y un ingreso neto de 11,4 millones de dólares en el tercer trimestre de 2023. El margen de interés neto se amplió al 2,82%, un aumento de 3 puntos básicos respecto al trimestre anterior. El ingreso neto por intereses en el tercer trimestre fue de 62,2 millones de dólares, con préstamos totales de 6,1 mil millones de dólares y depósitos totales de 8,0 mil millones de dólares. El banco mantuvo una sólida calidad crediticia con un ratio de provisiones para pérdidas crediticias del 1,07% y un ratio de apalancamiento de capital de nivel 1 del 8,6%. El ingreso neto básico para el trimestre fue de 19,4 millones de dólares, reflejando un rendimiento estable a pesar de los desafíos del mercado.
아메리칸 세이빙스 은행 (ASB)는 2024년 3분기에 1,880만 달러의 순이익을 보고했으며, 이는 2024년 2분기에 4,580만 달러의 순손실과 2023년 3분기에 1,140만 달러의 순이익에 비해 나은 결과입니다. 순이자 마진은 2.82%로 증가했으며, 이전 분기 대비 3 베이시스 포인트 상승했습니다. 3분기 순이자 수익은 6,220만 달러였고, 총 대출은 61억 달러, 총 예금은 80억 달러에 달했습니다. 은행은 1.07%의 신용 손실 대비 비율과 8.6%의 Tier 1 레버리지 비율로 강력한 신용 품질을 유지했습니다. 분기의 핵심 순이익은 1,940만 달러로, 시장의 도전에도 불구하고 안정적인 성과를 반영했습니다.
American Savings Bank (ASB) a annoncé un revenu net de 18,8 millions de dollars pour le troisième trimestre 2024, contre une perte nette de 45,8 millions de dollars au deuxième trimestre 2024 et un revenu net de 11,4 millions de dollars au troisième trimestre 2023. La marge d'intérêt nette a augmenté à 2,82%, en hausse de 3 points de base par rapport au trimestre précédent. Le revenu net d'intérêts pour le troisième trimestre était de 62,2 millions de dollars, avec des prêts totaux s'élevant à 6,1 milliards de dollars et des dépôts totaux de 8,0 milliards de dollars. La banque a maintenu une forte qualité de crédit avec un ratio de provisions pour pertes sur crédits de 1,07% et un ratio de levier de niveau 1 de 8,6%. Le revenu net de base pour le trimestre a atteint 19,4 millions de dollars, reflétant une performance stable malgré les défis du marché.
American Savings Bank (ASB) meldete für das dritte Quartal 2024 einen Nettogewinn von 18,8 Millionen Dollar, verglichen mit einem Nettoverlust von 45,8 Millionen Dollar im zweiten Quartal 2024 und einem Nettogewinn von 11,4 Millionen Dollar im dritten Quartal 2023. Die Nettomargen stiegen auf 2,82%, was einen Anstieg um 3 Basispunkte im Vergleich zum Vorquartal bedeutet. Der Nettozinsertrag für das dritte Quartal betrug 62,2 Millionen Dollar, bei Gesamtdarlehen von 6,1 Milliarden Dollar und Gesamteinlagen von 8,0 Milliarden Dollar. Die Bank behauptete eine starke Kreditqualität mit einem Verhältnis für Rückstellungen für Kreditverluste von 1,07% und einem Tier-1-Leverage-Verhältnis von 8,6%. Der Kernnettogewinn für das Quartal betrug 19,4 Millionen Dollar und spiegelt eine stabile Leistung trotz der Herausforderungen auf dem Markt wider.
- Net income improved significantly to $18.8 million from previous quarter's loss
- Net interest margin expanded to 2.82%, showing 3 basis points improvement
- Strong credit quality maintained with low net charge-off ratio of 0.15%
- 83% of deposits are FDIC insured or fully collateralized
- Healthy capital position with Tier 1 leverage ratio of 8.6%
- Total loans decreased 2.3% from December 2023
- Total deposits declined 1.8% from December 2023
- Higher cost of funds at 118 basis points, up from prior periods
- Nonaccrual loans increased to 0.42% compared to 0.16% in prior year
Insights
American Savings Bank's Q3 2024 results show meaningful improvement with
The bank maintains healthy fundamentals with
The results demonstrate resilience in Hawaii's banking sector despite broader market challenges. Core metrics remain solid with
The strategic review of ASB by parent company HEI adds uncertainty but also potential upside. The previous quarter's goodwill impairment of
3Q 2024 Net Income of
-
Net interest margin expanded to
2.82% , up 3 basis points from the prior quarter - Continued strong credit quality and capital position
“American Savings Bank continues to perform well, generating strong net income and profitability while continuing the net interest margin expansion we’ve seen throughout 2024. We remain well-positioned to support our customers and community for the long term, with a strong capital and liquidity position, strong credit quality, and ample lending capacity,” said Ann Teranishi, president and chief executive officer of ASB.
__________
1 See the “Explanation of ASB’s Use of Certain Unaudited Non-GAAP Measures” and the related GAAP reconciliation at the end of this release. |
Financial Highlights
Third quarter 2024 net interest income was
In the third quarter of 2024, ASB recorded a provision for credit losses of
The net charge-off ratio for the third quarter of 2024 was
Noninterest income was
Noninterest expense was
Total loans were
Total deposits were
Wholesale funding totaled
In the third quarter of 2024, ASB did not pay a dividend to HEI, supporting ASB’s healthy capital levels. ASB had a Tier 1 leverage ratio of
HEI EARNINGS RELEASE, HEI WEBCAST AND CONFERENCE CALL TO DISCUSS EARNINGS
Concurrent with ASB’s regulatory filing 30 days after the end of the quarter, ASB announced its third quarter 2024 financial results today. Please note that these reported results relate only to ASB and are not necessarily indicative of HEI’s consolidated financial results for the third quarter 2024.
HEI plans to announce its third quarter 2024 consolidated financial results on Friday, November 8, 2024 and will also conduct a webcast and conference call at 11:30 a.m.
To listen to the conference call, dial 1-888-660-6377 (
A replay will be available online and via phone. The online replay will be available on HEI’s website about two hours after the event. An audio replay will also be available about two hours after the event through November 22, 2024. To access the audio replay, dial 1-800-770-2030 (
HEI and Hawaiian Electric Company, Inc. (Hawaiian Electric) intend to continue to use HEI’s website, www.hei.com, as a means of disclosing additional information; such disclosures will be included in the Investor Relations section of the website. Accordingly, investors should routinely monitor the Investor Relations section of HEI’s website, in addition to following HEI’s, Hawaiian Electric’s and ASB’s press releases, HEI’s and Hawaiian Electric’s Securities and Exchange Commission (SEC) filings and HEI’s public conference calls and webcasts. Investors may sign up to receive e-mail alerts via the Investor Relations section of the website. The information on HEI’s website is not incorporated by reference into this document or into HEI’s and Hawaiian Electric’s SEC filings unless, and except to the extent, specifically incorporated by reference.
Investors may also wish to refer to the Public Utilities Commission of the
The HEI family of companies provides the energy and financial services that empower much of the economic and community activity of
NON-GAAP MEASURES
Measures described as “core” are non-GAAP measures which exclude after-tax
FORWARD-LOOKING STATEMENTS
This release may contain “forward-looking statements,” which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates” or similar expressions. In addition, any statements concerning future financial performance, ongoing business strategies or prospects or possible future actions are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and the accuracy of assumptions concerning HEI and its subsidiaries, the performance of the industries in which they do business and economic, political and market factors, among other things. These forward-looking statements are not guarantees of future performance.
Forward-looking statements in this release should be read in conjunction with the “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” discussions (which are incorporated by reference herein) set forth in HEI’s Annual Report on Form 10-K for the year ended December 31, 2023 and HEI’s other periodic reports that discuss important factors that could cause HEI’s results to differ materially from those anticipated in such statements. These forward-looking statements speak only as of the date of the report, presentation or filing in which they are made. Except to the extent required by the federal securities laws, HEI, Hawaiian Electric, ASB and their subsidiaries undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
American Savings Bank, F.S.B. STATEMENTS OF INCOME DATA (Unaudited) |
||||||||||||||||||
|
|
Three months ended |
|
Nine months ended September 30 |
||||||||||||||
(in thousands) |
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
|
2024 |
|
|
|
2023 |
|||||
Interest and dividend income |
|
|
|
|
|
|
|
|
|
|
||||||||
Interest and fees on loans |
|
$ |
73,654 |
|
$ |
72,960 |
|
|
$ |
71,540 |
|
|
$ |
219,585 |
|
|
$ |
204,348 |
Interest and dividends on investment securities |
|
|
14,001 |
|
|
13,218 |
|
|
|
14,096 |
|
|
|
42,183 |
|
|
|
42,508 |
Total interest and dividend income |
|
|
87,655 |
|
|
86,178 |
|
|
|
85,636 |
|
|
|
261,768 |
|
|
|
246,856 |
Interest expense |
|
|
|
|
|
|
|
|
|
|
||||||||
Interest on deposit liabilities |
|
|
19,018 |
|
|
18,015 |
|
|
|
14,446 |
|
|
|
54,465 |
|
|
|
30,944 |
Interest on other borrowings |
|
|
6,403 |
|
|
6,479 |
|
|
|
8,598 |
|
|
|
21,036 |
|
|
|
25,171 |
Total interest expense |
|
|
25,421 |
|
|
24,494 |
|
|
|
23,044 |
|
|
|
75,501 |
|
|
|
56,115 |
Net interest income |
|
|
62,234 |
|
|
61,684 |
|
|
|
62,592 |
|
|
|
186,267 |
|
|
|
190,741 |
Provision for credit losses |
|
|
248 |
|
|
(1,910 |
) |
|
|
8,835 |
|
|
|
(3,821 |
) |
|
|
10,053 |
Net interest income after provision for credit losses |
|
|
61,986 |
|
|
63,594 |
|
|
|
53,757 |
|
|
|
190,088 |
|
|
|
180,688 |
Noninterest income |
|
|
|
|
|
|
|
|
|
|
||||||||
Fees from other financial services |
|
|
5,188 |
|
|
5,133 |
|
|
|
4,703 |
|
|
|
15,195 |
|
|
|
14,391 |
Fee income on deposit liabilities |
|
|
5,156 |
|
|
4,630 |
|
|
|
4,924 |
|
|
|
14,684 |
|
|
|
14,027 |
Fee income on other financial products |
|
|
3,131 |
|
|
2,960 |
|
|
|
2,440 |
|
|
|
8,834 |
|
|
|
7,952 |
Bank-owned life insurance |
|
|
2,993 |
|
|
2,255 |
|
|
|
2,303 |
|
|
|
8,832 |
|
|
|
5,683 |
Mortgage banking income |
|
|
363 |
|
|
364 |
|
|
|
341 |
|
|
|
1,151 |
|
|
|
701 |
Gain on sale of real estate |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
495 |
Other income, net |
|
|
658 |
|
|
423 |
|
|
|
627 |
|
|
|
1,767 |
|
|
|
2,106 |
Total noninterest income |
|
|
17,489 |
|
|
15,765 |
|
|
|
15,338 |
|
|
|
50,463 |
|
|
|
45,355 |
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
||||||||
Compensation and employee benefits |
|
|
31,485 |
|
|
29,802 |
|
|
|
29,902 |
|
|
|
93,746 |
|
|
|
89,500 |
Occupancy |
|
|
5,630 |
|
|
5,220 |
|
|
|
5,154 |
|
|
|
15,913 |
|
|
|
16,281 |
Data processing |
|
|
4,974 |
|
|
4,960 |
|
|
|
5,133 |
|
|
|
14,780 |
|
|
|
15,240 |
Services |
|
|
3,816 |
|
|
4,250 |
|
|
|
3,627 |
|
|
|
12,217 |
|
|
|
8,911 |
Equipment |
|
|
2,436 |
|
|
2,477 |
|
|
|
3,125 |
|
|
|
7,562 |
|
|
|
8,728 |
Office supplies, printing and postage |
|
|
1,014 |
|
|
1,006 |
|
|
|
1,022 |
|
|
|
3,038 |
|
|
|
3,296 |
Marketing |
|
|
885 |
|
|
747 |
|
|
|
984 |
|
|
|
2,408 |
|
|
|
2,834 |
Goodwill impairment |
|
|
— |
|
|
82,190 |
|
|
|
— |
|
|
|
82,190 |
|
|
|
— |
Other expense |
|
|
5,806 |
|
|
5,813 |
|
|
|
7,399 |
|
|
|
16,561 |
|
|
|
19,742 |
Total noninterest expense |
|
|
56,046 |
|
|
136,465 |
|
|
|
56,346 |
|
|
|
248,415 |
|
|
|
164,532 |
Income (loss) before income taxes |
|
|
23,429 |
|
|
(57,106 |
) |
|
|
12,749 |
|
|
|
(7,864 |
) |
|
|
61,511 |
Income tax expense (benefit) |
|
|
4,651 |
|
|
(11,319 |
) |
|
|
1,384 |
|
|
|
(1,789 |
) |
|
|
11,380 |
Net income (loss) |
|
$ |
18,778 |
|
$ |
(45,787 |
) |
|
$ |
11,365 |
|
|
$ |
(6,075 |
) |
|
$ |
50,131 |
Comprehensive income (loss) |
|
$ |
58,982 |
|
$ |
(44,154 |
) |
|
$ |
(22,866 |
) |
|
$ |
25,994 |
|
|
$ |
27,120 |
OTHER BANK INFORMATION (annualized %, except as of period end) |
|
|
|
|
|
|
|
|
||||||||||
Return on average assets |
|
|
0.81 |
|
|
(1.97 |
) |
|
|
0.47 |
|
|
|
(0.09 |
) |
|
|
0.70 |
Return on average equity |
|
|
14.28 |
|
|
(33.97 |
) |
|
|
9.19 |
|
|
|
(1.52 |
) |
|
|
13.62 |
Return on average tangible common equity |
|
|
14.28 |
|
|
(39.84 |
) |
|
|
11.02 |
|
|
|
(1.69 |
) |
|
|
16.36 |
Net interest margin |
|
|
2.82 |
|
|
2.79 |
|
|
|
2.70 |
|
|
|
2.78 |
|
|
|
2.77 |
Efficiency ratio |
|
|
70.30 |
|
|
176.20 |
|
|
|
72.30 |
|
|
|
104.94 |
|
|
|
69.69 |
Net charge-offs to average loans outstanding |
|
|
0.15 |
|
|
0.15 |
|
|
|
0.07 |
|
|
|
0.15 |
|
|
|
0.11 |
As of period end |
|
|
|
|
|
|
|
|
|
|
||||||||
Nonaccrual loans to loans receivable held for investment |
|
|
0.42 |
|
|
0.53 |
|
|
|
0.16 |
|
|
|
|
|
|||
Allowance for credit losses to loans outstanding |
|
|
1.07 |
|
|
1.11 |
|
|
|
1.23 |
|
|
|
|
|
|||
Tangible common equity to tangible assets |
|
|
6.0 |
|
|
5.4 |
|
|
|
3.9 |
|
|
|
|
|
|||
Tier-1 leverage ratio |
|
|
8.6 |
|
|
8.4 |
|
|
|
7.7 |
|
|
|
|
|
|||
Dividend paid to HEI (via ASB Hawaii, Inc.) ($ in millions) |
|
$ |
— |
|
$ |
— |
|
|
$ |
14.0 |
|
|
$ |
— |
|
|
$ |
39.0 |
This information should be read in conjunction with the consolidated financial statements and the notes thereto in HEI filings with the SEC. Results of operations for interim periods are not necessarily indicative of results to be expected for future interim periods or the full year. |
American Savings Bank, F.S.B. BALANCE SHEETS DATA (Unaudited) |
||||||||||||
(in thousands) |
September 30, 2024 |
December 31, 2023 |
||||||||||
Assets |
|
|
|
|
||||||||
Cash and due from banks |
|
$ |
155,869 |
|
|
$ |
184,383 |
|
||||
Interest-bearing deposits |
|
|
176,784 |
|
|
|
251,072 |
|
||||
Cash and cash equivalents |
|
|
332,653 |
|
|
|
435,455 |
|
||||
Investment securities |
|
|
|
|
||||||||
Available-for-sale, at fair value |
|
|
1,084,083 |
|
|
|
1,136,439 |
|
||||
Held-to-maturity, at amortized cost |
|
|
1,159,229 |
|
|
|
1,201,314 |
|
||||
Stock in Federal Home Loan Bank, at cost |
|
|
29,204 |
|
|
|
14,728 |
|
||||
Loans held for investment |
|
|
6,037,410 |
|
|
|
6,180,810 |
|
||||
Allowance for credit losses |
|
|
(64,796 |
) |
|
|
(74,372 |
) |
||||
Net loans |
|
|
5,972,614 |
|
|
|
6,106,438 |
|
||||
Loans held for sale, at lower of cost or fair value |
|
|
2,704 |
|
|
|
15,168 |
|
||||
Other |
|
|
687,359 |
|
|
|
681,460 |
|
||||
Goodwill |
|
|
— |
|
|
|
82,190 |
|
||||
Total assets |
|
$ |
9,267,846 |
|
|
$ |
9,673,192 |
|
||||
Liabilities and shareholder’s equity |
|
|
|
|
||||||||
Deposit liabilities–noninterest-bearing |
|
$ |
2,486,717 |
|
|
$ |
2,599,762 |
|
||||
Deposit liabilities–interest-bearing |
|
|
5,512,493 |
|
|
|
5,546,016 |
|
||||
Other borrowings |
|
|
520,000 |
|
|
|
750,000 |
|
||||
Other |
|
|
191,512 |
|
|
|
247,563 |
|
||||
Total liabilities |
|
|
8,710,722 |
|
|
|
9,143,341 |
|
||||
Common stock |
|
|
1 |
|
|
|
1 |
|
||||
Additional paid-in capital |
|
|
359,346 |
|
|
|
358,067 |
|
||||
Retained earnings |
|
|
457,980 |
|
|
|
464,055 |
|
||||
Accumulated other comprehensive loss, net of tax benefits |
|
|
|
|
||||||||
Net unrealized losses on securities |
$ |
(251,703 |
) |
|
$ |
(282,963 |
) |
|
||||
Retirement benefit plans |
|
(8,500 |
) |
|
(260,203 |
) |
|
(9,309 |
) |
|
(292,272 |
) |
Total shareholder’s equity |
|
|
557,124 |
|
|
|
529,851 |
|
||||
Total liabilities and shareholder’s equity |
|
$ |
9,267,846 |
|
|
$ |
9,673,192 |
|
||||
This information should be read in conjunction with the consolidated financial statements and the notes thereto in HEI filings with the SEC. |
Explanation of ASB’s Use of Certain Unaudited Non-GAAP Measures
HEI and ASB management use certain non-GAAP measures to evaluate the performance of HEI and the bank.
Management believes these non-GAAP measures provide useful information and are a better indicator of the companies’ core operating activities. Core earnings and other financial measures as presented here may not be comparable to similarly titled measures used by other companies. The accompanying tables provide a reconciliation of reported GAAP1 earnings to non-GAAP core earnings and returns on average equity and average assets for the bank.
The reconciling adjustments from GAAP earnings to core earnings are limited to the costs related to the
Reconciliation of GAAP to non-GAAP Measures American Savings Bank F.S.B. Unaudited |
||||||||||||||||
|
|
Three months ended September 30 |
|
Nine months ended September 30 |
||||||||||||
(in thousands) |
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
||||||||
Pretax expenses: |
|
|
|
|
|
|
|
|
||||||||
Provision for credit losses |
|
$ |
(200 |
) |
|
$ |
5,900 |
|
|
$ |
(2,500 |
) |
|
$ |
5,900 |
|
Professional services expense |
|
|
1,134 |
|
|
|
1,300 |
|
|
|
4,043 |
|
|
|
1,300 |
|
Other expenses, net |
|
|
(42 |
) |
|
|
1,357 |
|
|
|
(308 |
) |
|
|
1,357 |
|
Pretax Maui wildfire related costs, net |
|
|
892 |
|
|
|
8,557 |
|
|
|
1,235 |
|
|
|
8,557 |
|
Pretax goodwill impairment |
|
|
— |
|
|
|
— |
|
|
|
82,190 |
|
|
|
— |
|
Income tax benefit |
|
|
(239 |
) |
|
|
(2,293 |
) |
|
|
(16,391 |
) |
|
|
(2,293 |
) |
After-tax expenses |
|
$ |
653 |
|
|
$ |
6,264 |
|
|
$ |
67,034 |
|
|
$ |
6,264 |
|
|
|
|
|
|
|
|
|
|
||||||||
ASB net income (loss) |
|
|
|
|
|
|
|
|
||||||||
GAAP (as reported) |
|
$ |
18,778 |
|
|
$ |
11,365 |
|
|
$ |
(6,075 |
) |
|
$ |
50,131 |
|
Excluding expense relating to |
|
|
|
|
|
|
|
|
||||||||
Provision for credit losses |
|
|
(146 |
) |
|
|
4,319 |
|
|
|
(1,830 |
) |
|
|
4,319 |
|
Professional services expense |
|
|
830 |
|
|
|
952 |
|
|
|
2,960 |
|
|
|
952 |
|
Other expenses, net |
|
|
(31 |
) |
|
|
993 |
|
|
|
(226 |
) |
|
|
993 |
|
Goodwill impairment |
|
|
— |
|
|
|
— |
|
|
|
66,130 |
|
|
|
— |
|
|
|
|
653 |
|
|
|
6,264 |
|
|
|
67,034 |
|
|
|
6,264 |
|
Non-GAAP (core) net income |
|
$ |
19,431 |
|
|
$ |
17,629 |
|
|
$ |
60,959 |
|
|
$ |
56,395 |
|
1 Accounting principles generally accepted in |
|
|
Three months ended September 30 |
|
Nine months ended September 30 |
|||||
|
|
2024 |
|
2023 |
|
2024 |
|
|
2023 |
Ratios (annualized %) |
|
|
|
|
|
|
|
|
|
Based on GAAP |
|
|
|
|
|
|
|
|
|
Return on average assets |
|
0.81 |
|
0.47 |
|
(0.09 |
) |
|
0.70 |
Return on average equity |
|
14.28 |
|
9.19 |
|
(1.52 |
) |
|
13.62 |
Return on average tangible common equity |
|
14.28 |
|
11.02 |
|
(1.69 |
) |
|
16.36 |
Efficiency ratio |
|
70.30 |
|
72.30 |
|
104.94 |
|
|
69.69 |
Based on Non-GAAP (core) |
|
|
|
|
|
|
|
|
|
Return on average assets |
|
0.84 |
|
0.73 |
|
0.87 |
|
|
0.78 |
Return on average equity |
|
14.78 |
|
14.25 |
|
15.24 |
|
|
15.32 |
Return on average tangible common equity |
|
14.78 |
|
17.09 |
|
16.94 |
|
|
18.40 |
Efficiency ratio |
|
68.93 |
|
68.89 |
|
68.64 |
|
|
68.56 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030464231/en/
Mateo Garcia
Director, Investor Relations
Telephone: (808) 543-7300
E-mail: ir@hei.com
Source: American Savings Bank
FAQ
What was American Savings Bank's (HE) net income in Q3 2024?
What was ASB's (HE) net interest margin in Q3 2024?
How much were ASB's (HE) total deposits as of September 30, 2024?
What was ASB's (HE) loan portfolio size in Q3 2024?
