secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K/A
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000354707-24-000042
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000042/0000354707-24-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000042/he-20240730.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000042

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