American Savings Bank prices IPO at $16 per share on NYSE

American Savings Bank, N.A. announced the pricing of its initial public offering of 8,057,240 shares of common stock at $16.00 per share, according to a press release from the Hawaii-based bank.

The shares are being sold by existing stockholders, and the bank will not receive any proceeds from the offering. The selling stockholders also granted underwriters a 30-day option to purchase up to an additional 1,208,586 shares to cover over-allotments.

The shares are expected to begin trading on the New York Stock Exchange on September 16, 2026, under the ticker symbol NYSE: ASBH. The offering is expected to close on September 17, 2026, subject to customary closing conditions.

Piper Sandler & Co. is acting as the sole book-running manager for the offering. Keefe, Bruyette & Woods, a Stifel Company, is serving as lead manager, while D.A. Davidson & Co. and Stephens Inc. are acting as co-managers.

The Registration Statement on Form S-1 was filed with the Office of the Comptroller of the Currency and declared effective on September 15, 2026. American Savings Bank operates 35 branches and more than 120 ATMs across Hawaii and has served the state since 1925.

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