12:06 PM EDT, 04/25/2024 (MT Newswires) -- (Updates with additional details in second, third, and fourth paragraphs.)

Hawaiian Electric Industries ( HE ) is weighing a potential sale of American Savings Bank FSB, among other options, Bloomberg reported Thursday, citing people familiar with the matter.

The company is working with advisers for partial or full sale of the bank but no final decision has been made yet, the report added.

"Our objective is to ensure we remain strong and financially healthy throughout our companies," a Hawaiian Electric representative was quoted as saying. "We continue to take prudent and measured actions to ensure our companies are well positioned to serve our customers and community for the long term."

Hawaiian Electric Industries ( HE ) came under scrutiny following last year's Lahaina wildfire in Hawaii and has lost about 73% of its market value since then, the report added.

Hawaiian Electric Industries ( HE ) and American Savings Bank FSB did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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