American Savings Bank closes upsized IPO at $16 per share

American Savings Bank, N.A. (NYSE: ASBH) announced the closing of its upsized initial public offering of 8,057,240 shares of common stock at $16.00 per share, with underwriters subsequently exercising their full over-allotment option to purchase an additional 1,208,586 shares.

The shares were sold by existing stockholders, and the Hawaii-based bank said it did not receive any proceeds from the offering. The IPO closed on September 17, 2026, with the over-allotment option exercise closing shortly after.

Piper Sandler & Co. served as sole book-running manager for the offering. Keefe, Bruyette & Woods, a Stifel company, acted as lead manager, while D.A. Davidson & Co. and Stephens Inc. served 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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