ASB Q2 net loss $45.8M on $66.1M goodwill impairment; strategic review ongoing

HAWAIIAN ELECTRIC INDUSTRIES INC

Net loss $45.8M includes after-tax goodwill impairment of $66.1M related to HEI's strategic review of ASB.
Core net income (excl. impairment & wildfire costs) $20.7M, vs $20.2M in Q2 2023.
Net interest margin improved to 2.79% (up 4 bps linked quarter); negative provision for credit losses of $1.9M.
Goodwill impairment is non-cash, no impact on liquidity; ASB's Tier 1 leverage ratio 8.4%.
HEI continues to review strategic options for ASB; no set timetable for actions.

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