Hawaii Community Bank American Savings Bank (ASBH.US) applied for an IPO: it plans to raise 120 million US dollars, and the transfer of old shares accounts for 100%

The Zhitong Finance App learned that the Hawaiian Community Bank American Savings Bank (American Savings Bank) announced the terms of its IPO on Tuesday. The bank has 35 branches in the state.

The company plans to issue 7.5 million shares (all in secondary sales) at a price of $15 to $17 per share to raise $120 million. CDI American, an existing shareholder, has intended to subscribe for $34 million worth of shares in this sale (28% of the deal). Based on the median price in the proposed price range, the market value of the American Savings Bank will reach $1 billion.

The American Savings Bank provides a full range of financial products and services, including deposits, loans, insurance, cash management, billing services, and investment services to individuals, small and micro enterprises, and commercial customers throughout Hawaii. The bank operates a network of 35 branches and more than 120 ATMs throughout the state, complemented by a digital banking platform. It is a national bank regulated by the US Monetary Commission (OCC) and operates without a holding company, which means the US Federal Reserve is not one of its main regulators.

As of June 30, 2026, the bank has served nearly 400,000 customers, with total assets of $9 billion, total loans of $6.2 billion, total deposits of $8.2 billion, and total shareholders' equity of $692 million. Approximately 95% of its loans are issued using Hawaiian real estate as collateral or to borrowers located in Hawaii; its loan portfolio is mainly residential mortgages and home equity lines of credit (HELOC, 59% as of June 30, 2026), followed by commercial real estate loans (25%).

Established in 1925, the American Savings Bank achieved revenue of $364 million over the 12 months ending June 30, 2026. The company plans to list on the New York Stock Exchange under the symbol ASBH. Piper Sandler and Keefe Bruyette Woods acted as joint bookkeepers for the deal. Pricing is expected on Tuesday, September 15, 2026.