10:35 AM EDT, 04/26/2024 (MT Newswires) -- (Updates with Hawaiian Electric's comment in fourth paragraph.)

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 the partial or full sale of the bank but no final decision has been made yet, the report added.

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 said.

"It's been our longstanding practice to not comment on rumors or speculation. Our objective is to ensure we remain strong and financially healthy throughout our companies - at HEI, American Savings Bank, and Hawaiian Electric," Hawaiian Electric Industries ( HE ) told MT Newswires. "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."

American Savings Bank FSB did not immediately respond to MT Newswires' request for comment.

(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.)

Price: 9.77, Change: -0.73, Percent Change: -7.00