American Savings Bank F.S.B.

Constance H. Lau was named director, president and CEO of Hawaiian Electric Industries, Inc. (NYSE – HE), holding company for Hawaii’s electric utility and its third largest financial institution in May 2006. This appointment designates her as one of only 20 female chief executives at the helm of a Fortune 1,000 company, and one of fourteen women leading an electric utility in the country. Connie will also chair the board of HE’s electric utility, Hawaiian Electric Company, which provides electric service to 95% of the residents of the state of Hawaii. In addition to her new role at Hawaiian Electric Industries, Connie will add the title of chairman of the board to her present titles of president and CEO of American Savings Bank, Hawaii’s third largest bank with $6.9 billion in assets, which she has headed since June 2001. Connie is also president of the Hawaii Bankers Association and is ranked #11 in the country in U. S. Banker magazine’s ranking of the 25 Most Powerful Women in Banking in the U. S. Connie joined HE in 1984, and has been a valued executive with the Hawaiian Electric Industries companies since then. Before joining the bank, Connie was Treasurer of the parent company, and Assistant Corporate Counsel and Treasurer for Hawaiian Electric Company, as well as Chief Financial Officer of HEI Power Corp., HEI’s international power subsidiary. In late 1999 she became Senior Executive Vice President and Chief Operating Officer of American Savings Bank and became President and CEO in June 2001. She began her career as a corporate attorney in San Francisco and has been involved in finance, law, real estate development, investments and international business. In addition to being recognized nationally by U. S. Banker magazine as one of the top 25 most powerful women in banking, Connie was ranked for the second year in a row in the “Fast Lane” top five for transforming American Savings Bank from a sleepy thrift into a fast-growing player in Hawaii’s business community. She was also named “Business Leader of the Year” at the 2004 Pacific Business News Leadership Hawaii event, a prestigious award in Hawaii’s business community. Connie believes in actively supporting the community and is a trustee or director of several educational and non-profit organizations such as Punahou School, Kamehameha Schools (Hawaii’s largest private landowner), the Hawaii Business Roundtable, Charles Reed Bishop Trust, the Consuelo Zobel Alger Foundation and the Maunalani Foundation. She is also a board member of Alexander & Baldwin, Inc. (NASDAQ – ALEX). Connie earned her Bachelor of Science degree at Yale University, her juris doctor law degree from the University of California’s Hastings College of Law and received her Master’s in Business Administration from Stanford University’s Graduate School of Business. She is married to Russell Lau and they have three children.

Sherri Aoyama was named Executive Vice President of Workforce Excellence and Support in May 2003. Sherri oversees the functions of Human Resources, Technology, Marketing & Communications, Training & Development, CRA/Community Development, Bishop Insurance Agency and Operations. She joined American Savings Bank in 1976 and held a variety of positions including teller, senior teller, head teller, Assistant Branch Manager, Training Director, Training and Procedures Director, and Savings Operations Manager. She was responsible for directing the Bank's 1997 implementation of the Customer Information System and the 2000 Metavante full outsourcing conversion. She is President of PATCH (People Attentive to Children) and a member of the Metavante Strategic Planning and Advisory Council. Sherri is a graduate of the Hawaii Management Program at the University of Hawaii. She received her Bachelor of Arts in Education at the University of Hawaii at Manoa.

Patrick Yamada joined American Savings Bank in March 2001 as Senior Vice President of Commercial Real Estate Loans. Pat oversees the commercial real estate lending area and is responsible for its strategic planning activities. Prior to joining American, he managed the Commercial Real Estate Lending function at Bank of Hawaii. Pat has extensive experience in both income property and commercial construction lending. He was a former board member of the Housing and Community Development Corporation and was appointed by Governor Cayetano to serve on the Rental Housing Trust Fund Advisory Commission. He is a Certified Public Accountant, past President of the Mortgage Bankers Association of Hawaii, Past Chairman of the BIA Parade of Homes, former Director and Treasurer of the Building Industry Association of Hawaii, a Director of the National Association of Industrial and Office Properties Hawaii Chapter, and a member of the Hawaii Society of CPAs. Pat received his Bachelor of Science degree in Business Administration and his Master's in Business Administration from the University of Southern California.

Anna Marie Springer is Senior Vice President and Community Liaison for American Savings Bank. She is responsible for directing the activities and operations of the Community Development and CRA area, as well as the Bishop Insurance Agency. She has worked in the banking industry for more than 30 years. Anna Marie has worked at American Savings Bank for more than 25 years and has spent the past 15 years in senior management roles. Anna Marie has served as an officer or board member for organizations such as the Chaminade University, Women's Financial Resource Center, Hogan Entrepreneurs at Chaminade University, Easter Seals of Hawaii, Hawaii Community Reinvestment Act Association and Consumer Credit Counseling. In 2004, she was recognized as the Business Leader of the Year Private Sector by the Organization of Woman Leaders. Born in Wahiawa, Anna Marie attended the American Institute of Banking, University of Hawaii, and the University of Maryland in Seoul, Korea.

Ms. Plotts received a bachelor of science degree in accounting from San Jose State University. She is currently a trustee of the Kamehameha Schools. Ms. Plotts has 30 years of hotel development experience as a general partner of Hemmeter Investment Company.

Mr. Carroll holds a bachelor’s degree in psychology from San Jose State University and a master of business administration degree from Harvard University Graduate School of Business. Mr. Carroll serves on the boards of directors of the Boy Scouts Aloha Council, the American Red Cross (Hawaii Chapter) and The Hawaii Nature Center and is a member of Oceanic Time Warner Cable's advisory board. He is chairman of Broadband iTV and is also a director of Pacific Guardian Life Insurance Company and Island Insurance.

Mr. Watanabe graduated with a bachelor’s degree from the University of California at Berkeley and a juris doctor degree from the George Washington University Law Center. In addition to sitting on the boards of a number of for-profit corporations in Hawaii and the mainland U.S., he serves as a trustee on numerous nonprofit boards, including The Sesame Workshop, the Consuelo Foundation and The Nature Conservancy of Hawaii.