secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000354707-24-000039
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ASB posts Q2 net loss of $45.8M on $66.1M goodwill impairment; core net income $20.7M
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- Net loss of $45.8M includes $66.1M after-tax goodwill impairment tied to HEI strategic review of ASB.
- Core net income (ex-impairement & wildfire costs) was $20.7M vs. $20.9M in Q1 2024 and $20.2M in Q2 2023.
- Net interest margin expanded to 2.79%, up 4 bps from linked quarter; negative credit provision of $1.9M.
- Total loans $6.1B (down 2.5% from YE2023); deposits $8.0B (down 1.3%); no dividend paid to HEI in Q2.
- Tier 1 leverage ratio 8.4%; non-cash impairment has no impact on liquidity or regulatory capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000039/0000354707-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000039/he-20240730.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000039

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