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The transaction, which is valued at approximately $4.3 billion, includes the assumption of $1.7 billion in HEI debt and excludes HEI’s banking subsidiary. In connection with the agreement, HEI separately today announced a plan to spin off ASB Hawaii, the parent company of American Savings Bank.

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MEDIA RELEASE Kona Hospital Foundation has received a grant of $20,000 from American Savings Bank and another $20,000 grant from Hawaii Electric Light Company. The grants will fund the purchase of two baby warmers to enhance newborn care at Kona Community Hospital. On May 28, representatives from Hawaii Electric Light Company presented Kona Hospital Foundation […]

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MEDIA RELEASE A new bank is under construction. A new road has recently been completed. A new Starbucks has opened. These and more provide positive economic signals within Kailua Village Business Improvement District going into 2013. Construction of the new American Savings Bank by Maryl Development at the vacant corner of Kuakini Highway and Palani […]

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MEDIA RELEASE Hiilei Aloha LLC was named the top, $10,000 prize winner at Wednesday’s Hogan/American Savings Bank Nonprofit Business Plan Competition. Hiilei Aloha plans to create a mobile certified kitchen and poi mill to assist farmers in converting taro into poi. The plan would allow farmers to get a higher price for their poi and, […]

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American Savings Bank today kicked off its Bank for Education program, which helps the community raise funds for Hawaii’s schools with every new qualified personal checking account that is opened. The campaign, which runs through December 15, 2011, is committed to awarding more than $250,000 to local schools. Last year Waiakea High School was awarded […]

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MEDIA RELEASE For the second year in a row, American Savings Bank (ASB) has been named a “Best Place to Work in Hawaii” by Hawaii Business magazine. The bank was recognized in the “Large Companies” category for its employee friendly policies and programs including LifeBalance, ASB’s personal wellness program, which provides employees with free annual […]

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MEDIA RELEASE American Savings Bank (ASB) has announced a $25,000 grant to the ARC of Hilo to support a new Job Creation and Community Support Services Center in Hilo. “American Savings Bank is happy to be in a position to contribute to the ARC of Hilo’s campaign to construct a new facility to help those […]

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The Bank for Education program by American Savings Bank awarded Waiakea High by being the school of choice by its customers.

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MEDIA RELEASE American Savings Bank has announced it is awarding $220,725 to public and private schools across the state, including a $100,000 award to Waianae Intermediate, as part of its Bank for Education program’s second campaign which ran from Sept. 18 through Nov. 26. The program was created by the bank to help the community […]

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MEDIA RELEASE American Savings Bank has announced Richard Wacker will join the company as President and Chief Executive Officer, effective Nov. 15. Wacker will also serve as a director of the bank. “We are pleased to have found someone of Rich’s caliber and credentials to lead American Savings Bank,” said Constance H. Lau, chairman of […]

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