American Savings Bank (ASBH) investor relations material

Executive summary

• Q3 net income was $29.0M, up 6.7% QoQ and 45.2% YoY, or $0.45 per diluted share; adjusted net income was $29.6M and adjusted diluted EPS was $0.46.

• Higher net interest income, lower provision expense and improved efficiency supported QoQ results; average loans rose while deposit costs declined.

Financial highlights

• Net interest income was $76.4M, up $1.2M QoQ and $4.7M YoY; total revenue was $97.4M.

• Noninterest income was $21.0M, down $2.8M QoQ; excluding BOLI fair-value changes, it increased $1.3M, supported by deposit service charges, investment services and other income.

• Noninterest expense was $59.0M, down $2.1M QoQ; excluding fair-value impacts, expense rose $2.0M QoQ, primarily from higher performance incentives.

• Total assets were $8.94B, loans $6.21B and deposits $8.05B at quarter-end; deposits declined 1.7% QoQ and rose 1.4% YoY.

• Adjusted efficiency ratio was 59.7%, versus 60.5% in Q2 and 61.7% in Q3 2025; reported efficiency ratio was 60.6%.

Outlook and guidance

• NIM is expected to climb gradually, subject to rates; deposit costs may rise a couple of basis points in Q4 as anticipated rate changes lift funding costs.

• Residential loans are expected to remain flat as production offsets runoff; CRE and C&I opportunities persist, with a steady but less robust pipeline and some Q4 payoffs expected.

• Q4 deposits are expected to pick up seasonally and typically hold through Q1 before flowing out; CD customers favor shorter terms and liquidity.

• Excluding deferred-compensation fair-value effects, Q3 expense was considered a reasonable Q4 run rate; inflationary pressure is expected thereafter.

• FY 2026 effective tax rate is expected near 22%; a mid-22% to 23% rate is considered appropriate longer term, potentially rising slightly with earnings.