---
schema_version: "secwatch.filing_event.v1"
accession: "0000354707-25-000003"
form_type: "8-K"
ticker: "HE"
cik: "0000354707"
company_name: "HAWAIIAN ELECTRIC INDUSTRIES INC"
filed_at: "2025-01-03T23:59:59+00:00"
generated_at: "2026-05-28T16:18:03.816120+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# HEI sells 90.1% of American Savings Bank for ~$405M; closes Dec 31, 2024

## Summary
- Transaction valued at ~$450M; 90.1% stake sold for ~$405M to independent investors.
- Proceeds to reduce holding company debt, fund wildfire settlement contributions and utility initiatives.
- ASB retains local leadership, branches and brand; HEI exits banking to focus on utility business.
- Sale closed effective December 31, 2024; HEI expects greater financial flexibility and reduced equity needs.

## SEC filing metadata
- accession: 0000354707-25-000003
- form_type: 8-K
- ticker: HE
- cik: 0000354707
- company_name: HAWAIIAN ELECTRIC INDUSTRIES INC
- filed_at: 2025-01-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/354707/000035470725000003/0000354707-25-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/354707/000035470725000003/he-20250102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000354707-25-000003
- JSON: https://secwatch.observer/filing/0000354707-25-000003.json
- Plain text: https://secwatch.observer/filing/0000354707-25-000003.txt

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