Hawaiian Electric Industries, Inc.
Hawaiian Electric Industries, Inc. is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the state of Hawaii. The company operates its business through two segments: Electric Utility and Bank. The Electric Utility segment is engaged in the production, purchase, transmission, distribution and sale of electricity on the islands of Oahu, Hawaii and Maui, Lanai and Molokai, respectively. It supplies power through Hawaiian Electric Co, Inc., Hawaii Electric Light Co, Inc. and Maui Electric Co. Ltd. is regulated electric public utilities. The Bank segment provides a wide array of banking and other financial services to consumers and businesses through its bank subsidiary, American Savings Bank, F.S.B. The bank is a full-service community bank serving both consumer and commercial customers and has been diversifying its loan portfolio from single-family home mortgages to higher-spread, shorter-duration consumer, commercial and commercial real estate loans. Hawaiian Electric Industries was founded by C. Dudley Pratt Jr. in 1981 and is headquartered in Honolulu, HI.