The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

American Savings in Hawaii posts $45M loss that reflected goodwill impairment

The parent company of American Savings Bank is considering strategic options for the Honolulu bank.

The $9.3 billion-asset bank lost $45.8 million in the second quarter, which included a $66.1 million goodwill impairment charge. The bank said the charge is tied to its market valuation and acquisitions that took place in the 1980s and 1990s.

The noncash impairment has no impact on the bank’s liquidity.

Hawaiian Electric Industries said there is no set timetable for its comprehensive review of strategic options for bank, adding that “there can be no assurances that any actions regarding ASB will result from this evaluation.”

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