AMERICAN SAVINGS BANK
PPP Lender · 6,344 loans · $547.7M total · 14 states served
AMERICAN SAVINGS BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 6,344 PPP loans totaling $547.7M, representing approximately 0.06% of all loans nationwide.
AMERICAN SAVINGS BANK served borrowers across 14 states. The largest concentration of activity was in Hawaii, where the lender originated 6,302 loans totaling $525.1M. Other states with significant activity included California, Colorado, Utah.
The average loan size for this lender was $86,339. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through AMERICAN SAVINGS BANK were: KONA COMMUNITY HOSPITAL (HI) — $6,595,000; Y. HATA & COMPANY, LIMITED (HI) — $5,324,200; KAUAI VETERANS MEMORIAL HOSPITAL (HI) — $4,455,800; and WATG HOLDINGS, INC (CA) — $4,289,800.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Hawaii | 6,302 | $525.1M | 98.4% |
| California | 25 | $16.8M | 100.0% |
| Colorado | 4 | $4.4M | 100.0% |
| Utah | 2 | $44,500 | 100.0% |
| Arizona | 2 | $103,100 | 100.0% |
| Washington | 1 | $182,904 | 100.0% |
| Texas | 1 | $584,900 | 100.0% |
| Tennessee | 1 | $92,200 | 100.0% |
| Oregon | 1 | $9,648 | 100.0% |
| New York | 1 | $137,728 | 100.0% |
| Nevada | 1 | $75,000 | 100.0% |
| Massachusetts | 1 | $4,100 | 0.0% |
| Georgia | 1 | $6,875 | 100.0% |
| Florida | 1 | $185,278 | 100.0% |