American Savings Bank, a Hawaii-based financial institution, completed its initial public offering (IPO) on September 17, selling 8,057,240 shares at $16 per share. The underwriters exercised their option to purchase an additional 1,208,586 shares at the same price, bringing the total offering size to 9,265,826 shares.
The bank did not receive any proceeds from the share sales by the selling stockholders. The IPO was managed by Piper Sandler & Co. as the sole book-running manager, with Keefe, Bruyette & Woods, A Stifel Company as the lead manager, and D.A. Davidson & Co. and Stephens Inc. as co-managers.
American Savings Bank was established in 1925 and operates 35 branches and over 120 ATMs in Hawaii, providing banking services to consumers, businesses, and communities. 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.
