American Savings Bank (ASBH) of Hawaii upsized its IPO to about 8.06 million shares – up from about 7.5 million in the prospectus – and priced the deal at $16.00 – the mid-point of its $15.00 to $17.00 price range – to raise $128.92 million on Tuesday night, Sept. 15, 2026, the bank said in a statement. Shares of American Savings Bank (ASBH) of Hawaii are expected to start trading today – Wednesday, Sept. 16, 2026 – on the New York Stock Exchange.
In the prospectus, American Savings Bank of Hawaii said selling stockholders were offering all of the stock in the IPO. Under those terms, the bank would not receive any proceeds from the IPO.
Piper Sandler was the sole book-runner. Keefe, Bruyette & Woods (A Stifel Company) was the lead manager. D.A. Davidson & Co. and Stephens Inc. were the co-managers.
American Savings Bank, which opened in Hawaii in 1925, is the third-largest bank in the state when ranked by deposits. The bank had $8.2 billion in total deposits and $9.0 billion in total assets, including $6.2 billion in total loans, as of June 30, 2026, according to its prospectus filed with the U.S. Comptroller of the Currency. The bank converted to a national charter in January 2026.
Most of American Savings Bank’s loan portfolio is concentrated in Hawaii real estate, which represented $5.5 billion of its $6.2 billion in total loans, according to the prospectus.
American Savings Bank of Hawaii runs a network of 35 branches and over 120 ATMs on five islands in Hawaii.
For the first six months of 2026, American Savings Bank of Hawaii recorded a profit – a turnaround from a net loss for 2025 – according to financial statements in the prospectus.
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