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American Savings Bank, FSB, Honolulu HI Jun 11
Standard & Poors, June 2011
Abstract
Good core deposit funding base Solid capital ratios Relatively low-credit-risk balance sheet Weakening asset quality with rising nonperforming assets Lack of geographic and loan diversity High exposure to interest-rate risk Standard & Poor's Ratings Services' ratings on American Savings Bank FSB, Honolulu HI (ASB) are based on the company's solid capital ratios and ample funding from its core deposit base. The ratings are somewhat constrained by the bank's relatively small size ($4.86 billion of total assets as of March 31, 2011), geographic concentration in the sometimes volatile Hawaiian market, and over-reliance on the residential mortgage market. Also, the bank has inherently high exposure to interest-rate risk, which it has generally managed well to-date, and aggressive levels of loan-loss reserves. Because...
Companies mentioned in this report are: American Savings Bank FSB Honolulu HI,Hawaiian Electric Co. Inc.,Hawaiian Electric Industries Inc.,Maui Electric Co. Ltd.,Hawaii Electric Light Co. Inc.,ASB Realty Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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