ASB sees Q1 decrease in net income, increase in total deposits

//ASB sees Q1 decrease in net income, increase in total deposits

ASB sees Q1 decrease in net income, increase in total deposits

American Savings Bank, a wholly-owned subsidiary of Hawaiian Electric Industries (NYSE:HE), reported its Q1 net income as $1 million below 2018's fourth quarter net income of $21.8 million. President and CEO of the third largest bank in Hawaii, Rich Wacker, said that part of the decrease in net income and non-interest income was due to double occupancy costs, depreciation, and the cost of four properties while branches exited and moved to the new headquarters building. "It's been a busy quarter…

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By | 2019-05-01T21:48:09+00:00 May 1st, 2019|Economics|

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