---
schema_version: "secwatch.filing_event.v1"
accession: "0000354707-24-000016"
form_type: "8-K"
ticker: "HE"
cik: "0000354707"
company_name: "HAWAIIAN ELECTRIC INDUSTRIES INC"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:55:51.359375+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# American Savings Bank Q1 2024 net income $20.9M, up 12.8% YoY; releases Maui wildfire reserves

## Summary
- Net income $20.9M vs $18.6M in Q1 2023 (+12.8%); core net income also $20.9M.
- Released $1.5M of Maui wildfire reserves and recovered $0.4M lost cash; wildfire expenses $1.8M.
- Net interest margin 2.75%, up from 2.63% linked quarter due to balance sheet repositioning.
- Negative provision for credit losses of $2.2M reflects improved Maui economic outlook; allowance/loans 1.16%.
- No dividend paid to HEI in Q1; Tier 1 leverage ratio 8.0% and strong liquidity.

## SEC filing metadata
- accession: 0000354707-24-000016
- form_type: 8-K
- ticker: HE
- cik: 0000354707
- company_name: HAWAIIAN ELECTRIC INDUSTRIES INC
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/354707/000035470724000016/0000354707-24-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/354707/000035470724000016/he-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000354707-24-000016
- JSON: https://secwatch.observer/filing/0000354707-24-000016.json
- Plain text: https://secwatch.observer/filing/0000354707-24-000016.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.