secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000354707-24-000016
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000016/0000354707-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000016/he-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000016

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