American Savings Bank will Continue to be a Leading Financial Institution Serving and Investing in Hawaii
American Savings Bank will Remain Headquartered in Hawaii, Led by its Current Management Team
Wednesday, December 3, 2014 – Hawaiian Electric Industries, Inc. (NYSE:HE) today announced that its Board of Directors has unanimously approved a plan to spin off ASB Hawaii, Inc., the parent company for American Savings Bank, and establish it as an independent publicly traded company. The spinoff of ASB Hawaii is contingent upon the closure of the separately announced definitive agreement under which NextEra Energy, Inc. will combine with HEI and will occur immediately prior to the closing of the NextEra Energy-HEI transaction.
At American Savings Bank, We Always: