What You Need to Know About Your Annual Escrow Account Disclosure Statement

Annual Escrow Account Disclosure Statement – History: This section contains the disbursement history for your account. Transactions listed reflect actual amounts paid into your escrow account and actual amounts disbursed from your escrow account for items such as real property tax and insurance premiums.

Annual Escrow Account Disclosure Statement – Projection: This section details the calculation of your monthly escrow payment. Refer to "New Total Payment" in the “Anticipated Escrow Payments” section for your adjusted monthly mortgage payment beginning November 1, .

Increases in your monthly mortgage payment are most commonly due to increases in property taxes and/or homeowners insurance premiums.

  • If you have questions about an increase in your property taxes, please contact your local taxing authority; they are the best source for information to explain any changes to your tax bill. Keep in mind, the individual Counties in the State of Hawaii reassess property values every year. Hawaii State property tax for the new tax year are sent in August and if there is an increase, it will be reflected in the Annual Escrow Analysis statement.
  • If you have questions about an increase in your homeowner’s insurance premiums, please contact your insurance company or their local agent, they are the best source for information to explain any changes in your annual premium amount.

Be assured: there was NO change to your interest rate or how the principal and interest from your monthly mortgage payments are applied to your loan. Any changes to your payment are related to escrow costs.

Will my automatic loan payments be adjusted to the new payment amount?
If ASB setup the automatic payments for your mortgage loan, the payments will be adjusted. If you setup the automatic payments yourself from a third party bill payer or an online banking provider, you will need to manually update the payment amount for the new payment in November.

Business Financial Hardship Resources

Local businesses are the backbone of our community and we will be by your side to see you through this challenging time. Your business bankers are equipped and experienced to get you the assistance you require.

For those who were able to attend the SBA Webinar on August, 21st, we hope you found the information valuable. For those who were not able to attend, please find the recording below. We've also provided the webinar materials for you to download and reference.

 

 

SBA Maui Disaster Relief Webinar from American Savings Bank on Vimeo.

Download the Presentation

Business Financial Hardship Resources

Local businesses are the backbone of our community and we will be by your side to see you through this challenging time. Your business bankers are equipped and experienced to get you the assistance you require.

For those who were able to attend the SBA Webinar on August, 21st, we hope you found the information valuable. For those who were not able to attend, please find the recording below. We've also provided the webinar materials for you to download and reference.

 

 

SBA Maui Disaster Relief Webinar from American Savings Bank on Vimeo.

Download the Presentation

business physical
disaster loan

Businesses of any size and most private nonprofit organizations may apply for a loan to recover after a disaster.

LEARN MORE

ECONOMIC INJURY
DISASTER LOAN (EIDL)

A loan based on your actual economic injury and your company's financial needs, regardless of whether the business suffered any property damage.

LEARN MORE

 

FINANCIAL HARDSHIP ASSISTANCE

Qualifying customers may receive up to 3 months in the form of either:

  • Loan forbearance
  • Loan deferment

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Card Processing Assistance

We are waiving merchant services fees for any ASB business customer whose Clover POS system was affected by the Maui wildfires, and we'll also help to get your business back online when you are ready.

Please call Card Processing Support at (808) 625-5600 for assistance.

If you have any questions, please reach out to our Business Banking team through the form below.

Financial Hardship Assistance Form

We are committed and dedicated to our community and the businesses that help run Hawaii’s economy. As we navigate through these challenging times, we are offering assistance to our business customers facing financial hardships.

We’re here for you, and we have solutions to help our business customers who are facing financial hardships.

Please complete our Business Financial Hardship form to the right and one of our Business Bankers will reach out to you on how we can help.

Qualifying customers may receive assistance for up to 3 months in the form of one of the following:

  • Loan forbearance
  • Loan deferment

For credit cards, please call (800) 558-3424.

 
 
 
 
*Required Field

Financial Hardship Resources

American Savings Bank (ASB) is committed to assisting, supporting and providing solutions for our customers during challenging times. Please see the available resources we provide below to assist you during times of financial hardship.

Financial assistance options via the hardship form

Loan Forbearance

 

A pause in payments, requiring the repayment of the missed amount when the forbearance period ends. Interest still accrues during the period and your credit may be impacted.

 

Loan Deferment

 

A delay in payments where interest accrues during the deferment period. When repayment resumes, payment will go towards accrued interest first. You will also have a larger final payment. Your credit will not be impacted.

 

Loan Extension

 

Temporary extension of reduced or delayed payment for your mortgage loan, personal unsecured loans and/or lines of credit.

 

Financial Hardship Assistance Form

Please complete this form and we'll be in touch with you in 1-2 business days on how we can help.

Qualifying customers may receive assistance for up to 3 months in the form of one of the following:

  • Loan forbearance
  • Loan deferment
  • Loan extension

For more information, please email us at hardship@asbhawaii.com.

Please provide current proof of income (including unemployment) if you are requesting assistance. Examples of proof of income:

  • Pay Stubs
  • Bank statements showing direct deposits from employer
  • General Excise Tax (“GET”) statements
  • Transient Accommodation Tax (“TAT”) statements
  • Other documents evidencing employment
  • Business bank statements
  • Most recent tax returns

We may ask for additional documentation based on your situation.

Or, you may also contact:

 
 
 
 
*Required Field
ASB Banker
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Unsure where to start? Schedule an appointment with one of our expert bankers to help you with any of your financial needs. Our bankers are available by phone, in person or video call.
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Adrian Holmes

Assistant Vice President, Financial Planning Coordinator

 

American Savings Investment Services

Phone: (808) 952-7024
adrian.holmes@asbinvestments.com

Adrian Holmes is a dynamic individual with a diverse range of interests. He holds Series 6, 63, and 65 securities registrations in addition to life, health, and disabilities licenses. When he’s not playing or coaching basketball, he can be found enjoying a round of golf, hiking with friends, or at the beach. He has a passion for learning languages, traveling, and exploring different cultures.

Adrian’s commitment to his community shines through his volunteer activities. He dedicates his time to coaching, beach clean-ups, assisting the kupuna, and engaging in community outreach. In 2020, he fulfilled his dream by opening the Hale Hoop basketball academy, providing a nurturing environment for aspiring athletes.

Get a portfolio risk analysis by clicking below to visit the Riskalyze website.

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American Savings Bank Reaffirms Strong Capital Position, Excellent Credit Quality and Ample Liquidity in Aftermath of Maui Wildfires

ASB August 22, 2023 | 3 MIN read News Releases

American Savings Bank (ASB), is well positioned and stands ready to support the community as families heal and rebuild in the aftermath of the Maui wildfires.

“ASB has served the residents and businesses of Hawaii for nearly 100 years. We are heartbroken for our community but committed to use our strong liquidity and capital position to help Maui rebuild,” said Ann Teranishi, president and CEO of American Savings Bank. “We are here to support our community and work with borrowers through this challenging time and beyond.”

ASB is an independent company founded in 1925. ASB’s loyal and long-tenured deposit base demonstrates the value of its customer relationships: 79% of its deposits are FDIC-insured and 7% are fully collateralized. ASB has deep lending capacity, with 273% liquidity coverage for uninsured deposits. ASB customer deposits are safe. There is no risk to customer deposits as a result of legal claims related to the fires.

ASB has consistently been well capitalized above the regulatory minimums, with a leverage ratio of 7.79% and Common Equity Tier 1 Capital Ratio of 12.23%. ASB has over $3.1 billion of secured borrowing capacity at the Federal Home Loan Bank and Federal Reserve.

ASB remains focused on supporting its teammates, customers, community and partners during this challenging time. ASB recently announced a $100,000 commitment, including $50,000 to Hawaii Community Foundation’s (HCF) Maui Strong campaign, $25,000 to American Red Cross and $25,000 to Maui United Way. To date, ASB has collected more than $160,000, as part of the Hawaii Bankers Association’s Aloha for Maui Fund. All funds from this effort will be provided to HCF’s Maui Strong campaign.

Currently, all ASB’s Maui ATM fees and various other fees are being waived. ASB is also offering 90-day forbearance and deferment for commercial and consumer loans. Customers can also apply for an emergency personal line of credit up to $5,000.

For more information on ASB’s Maui Relief & Assistance Programs, visit asbhawaii.com/maui

MEDIA CONTACT
Shara Aiu, American Savings Bank
syaiu@asbhawaii.com

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American Savings Bank Pledges $100,000 to Wildfire Relief Efforts

ASB August 09, 2023 | 1 MIN read News Releases

American Savings Bank (ASB) committed to donate $100,000 to nonprofits, including the American Red Cross, to provide assistance to local residents and businesses affected by the devastating wildfires on Maui and Hawaii Island.

“Our hearts go out to all those impacted by the fires,” said Ann Teranishi, president and CEO at American Savings Bank. “We are glad that our teammates are safe and we are committed to supporting our customers and communities through this challenging time.”

The funds will be dispersed to nonprofits working to support on-the-ground recovery efforts and assist in long-term rebuilding plans.

For updates on branch hours, please visit www.asbhawaii.com.

Media Contact

Karwin Sui
Communications Manager
(808) 539-7268
ksui@asbhawaii.com

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American Savings Bank Opens Registration for 2023 Bank for Education KeikiCo Contest

ASB August 04, 2023 | 2 MIN read News Releases

American Savings Bank (ASB) is excited to announce the return of its Bank for Education KeikiCo Contest, an annual business plan competition that empowers young entrepreneurs with financial education and offers student teams a chance to win up to $25,000 for their school. Following a successful 2022 competition, which drew participation from nearly 400 students in grades 3 to 12, the KeikiCo Contest returns for its sixth year.

St. Andrew School Students for KeikiCo Contest

“Our KeikiCo Contest never fails to amaze us with the incredible talent displayed by Hawaii’s young leaders,” said Ann Teranishi, president and CEO at ASB. “Their dedication, innovation, imagination and creativity fill us with hope for a brighter future. At ASB, we are committed to providing financial education resources and opportunities to empower young entrepreneurs in building a stronger and more diverse Hawaii. Together, we can drive positive impact for generations to come.”

About ASB’s KeikiCo Contest

The KeikiCo Contest, launched in 2015 and now held annually due to popular demand, inspires young innovators, dreamers and visionaries to think creatively and contribute positively to the community. Students in grades 3 to 12 are invited to form teams of two to five members and submit their business plan ideas to a distinguished panel of judges for a chance to win up to $25,000 for their school communities.

Teachers and advisors will receive a video curriculum, worksheets, mentorship and online resources to further empower students. Through this competition, ASB remains committed to providing valuable financial education resources and a platform for young leaders to flourish, cultivating a stronger and more diversified economy.

ASB presents 1st and 2nd place awards in three divisions – elementary, middle and high school – along with the coveted People’s Choice award for each division, determined through public voting on video entries, and special mentions to commend exceptional out-of-the-box ideas. As a bonus, students of first place teams receive a bonus cash prize of up to $500 to invest in their future education or business idea.

Beyond the competition, KeikiCo winners receive exclusive membership to ASB’s Bank for Education Ohana, granting access to invaluable perks, including opportunities to apply for grants, volunteer service support from ASB teammates, priority consideration for scholarships and internships and participation in special events with distinguished guests like NASA astronauts and Olympic athletes.

Student Teams Are Invited to Apply by Aug. 11

Teachers and school administrators are encouraged to rally their students and sign up for the KeikiCo Contest. The competition is open to the first 60 schools that submit a School Registration Form.

Important Contest Dates

  1. Aug. 11: Registration deadline
  2. Aug. 14: Contest begins
  3. Oct. 30, 5 p.m.: Deadline to submit business plans, video pitches and waivers
  4. Nov. 20 - Dec. 1: People’s Choice voting
  5. Dec. 4: Winners notified
  6. Dec. 7 - 21: Award ceremonies

In 2022, ASB awarded more than $140,000 to 21 teams from nine local schools. Since its inception in 2010, the Bank for Education program has contributed over $1.6 million to local schools, showcasing ASB’s commitment to enhancing education, bringing real impact to the community and uplifting Hawaii’s economic development.

To sign up for the competition and learn more about ASB’s commitment to fostering entrepreneurship and financial education, visit www.asbhawaii.com/keikico.

Media Contact

Karwin Sui
Communications Manager
(808) 539-7268
ksui@asbhawaii.com

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ASB’s Buy Local Program Highlighted by ThinkTech Hawaii and Hawaii Restaurant Association

ASB July 25, 2023 | 1 MIN read Personal

At American Savings Bank (ASB), community is at the heart of everything we do. We are committed to building a stronger, healthier Hawaii by supporting local businesses and providing exclusive ways for customers to save money through our Buy Local, Save Local, Enjoy Local program.

ThinkTech Hawaii and Hawaii Restaurant Association recently invited Clinton Ng, owner of Aloha Donut Co., Noa Aoki, marketing director for Aoki Group and Katrina Sabido, SVP and Director of Consumer and Business Products at ASB to share more about the program.

Watch the video below to hear more about the program and how it has helped our Buy Local partners connect with their customers, boost their sales and more.

For a limited time, customers can use their ASB personal Visa® Debit card to receive exclusive discounts when making a purchase at more than 40 merchants across four islands, including at Aloha Donut Co. and Aoki Group locations. Check out their offers below:

  • 1938 Indochine: Get $20 off your order when you spend $100 or more
  • Aloha Donut Co.: Get $5 off your order when you spend $15 or more
  • Aoki Teppanyaki: Get $20 off your order when you spend $100 or more
  • Blue Tree Cafe: Get $10 off your order when you spend $40 or more
  • Doraku: Get $20 off your order when you spend $100 or more
  • Herringbone: Get $20 off your order when you spend $100 or more

Being a part of the Buy Local program is easy and convenient, and best of all – it’s FREE! Buy Local partners receive a wide range of complimentary marketing opportunities, including promotions at ASB-sponsored events, through ASB’s channels reaching hundreds of thousands of people collectively and more. For details, please visit Buy Local, Save Local, Enjoy Local program.

BE A BUY LOCAL PARTNER TODAY

Mobile Banking App Upgrade

We will be updating our ASB Hawaii Mobile App on Wednesday, August 23, 2023. Beginning August 23, all customers will need to update the ASB Hawaii app to the latest version in order to continue with mobile banking. For iOS, please update to version 4.0.588 in the App Store. For Android, please update to version 5.8.9 in GooglePlay. No updates or actions are required to access Online Banking via an internet browser.

Important: For iOS Users, you will be prompted to manually enter your Login ID and Password when you log in for the first time after the update is complete. There are a few items you may need to review to ensure an easy update experience.

iOS Users: Preparing for Your App Update

If you currently use Passcode or FaceID to access mobile banking, but do not recall your login credentials (Login ID and/or password), please take the time to verify or update this information.

Forgot Password Screenshot

Click to Enlarge

How to Reset Your Password

If you do not remember your password, you will be asked to reset it and taken through a multi-factor authentication process and sent a one-time use, secure access code. Remember: Do not share your secure access code with anyone. We will never ask for this code.

  1. Click or tap on Forgot Your Password? from the ASB Mobile app or browser
  2. Enter your Login ID
  3. You will be asked how you want to receive your secure-access code; select your preferred method
  4. Confirm your secure access code in the app or browser
  5. Click or tap on Change Password
  6. Log off and log back on by typing in your Login ID and new password
Reset password screenshot

Click to Enlarge

How to Change Your Password

  1. Login to Online Banking with the ASB Mobile app or browser
  2. Click or tap on Settings and then select Security Preferences
  3. Click or tap on Change Password
  4. Follow the password requirements
  5. Log off and log back on by typing in your Login ID and new password
Login ID Screenshot

Click to Enlarge

How to Change Your Login ID

  1. Login to Online Banking with the ASB Mobile app or browser
  2. Click or tap on Settings and then select Security Preferences
  3. Click or tap on Change Login ID
  4. Follow the Login ID requirements
  5. Log off and log back on by typing in your new Login ID and password
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  • Customer Banking Center Hours

    Monday - Friday: 8 a.m. to 7 p.m.

    Saturday - Sunday: 9 a.m. to 3 p.m.

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