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The Honolulu Advertiser
Posted on: Tuesday, September 10, 2002

Bank moving after 34 years on Fort St.

By Frank Cho
Advertiser Staff Writer

American Savings Bank has signed a deal to move its corporate headquarters into the Pacific Tower in Bishop Square on the corner of King and Alakea streets, about a block from its current location.

The move, which starts in December, will allow the $6.2 billion company to raise its visibility and expand retail lending and other departments at its current headquarters at the Financial Plaza Building on Fort Street Mall.

"Our move to one of the busiest intersections in Honolulu is part of our overall growth strategy to position the bank for growth and increase awareness," said Constance Lau, president and chief executive officer of American Savings, a subsidiary of Hawaiian Electric Industries Inc.

Pacific Tower, which will be renamed American Savings Bank Tower, will house the 77-year-old bank's headquarters on its 25th floor and the bank's current branch in the lobby will be redesigned as the bank's flagship branch.

The architectural firm of Wimberly, Allison, Tong and Goo, a client of American Savings, will design the new corporate headquarters as well as the renovation of the branch in the lobby. J. Kadowaki Inc. will be the general contractor.

American Savings has been in the Financial Plaza since 1968 and plans to continue to occupy the building with other departments.

Reach Frank Cho at 525-8088, or at fcho@honoluluadvertiser.com.