American Savings Bank, A Wholly Owned Subsidiary Of Hawaiian Electric Industries Reports Q3 2023 Net Income Of $11.4M; Reports $8.6M Of Maui Wildfire-Related Expenses, Including $5.9M Of Additional Provision
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American Savings Bank, a subsidiary of Hawaiian Electric Industries, reported a Q3 2023 net income of $11.4M. The bank also reported $8.6M of expenses related to the Maui wildfire, including an additional provision of $5.9M.
October 30, 2023 | 9:18 pm
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Hawaiian Electric Industries' subsidiary, American Savings Bank, reported a Q3 2023 net income of $11.4M and $8.6M of Maui wildfire-related expenses.
The reported net income of $11.4M for Q3 2023 by American Savings Bank, a subsidiary of Hawaiian Electric Industries, is likely to have a negative impact on the parent company's stock due to the significant wildfire-related expenses of $8.6M. These expenses could potentially affect the company's overall profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100