Amerika Samoa Bank (ASB) was a financial institution established in 1979 in

American Samoa American Samoa is an Territories of the United States, unincorporated and unorganized territory of the United States located in the Polynesia region of the Pacific Ocean, South Pacific Ocean. Centered on , it is southeast of the island count ...

and the second-largest bank in the territory with a 44 percent

market share Market share is the percentage of the total revenue or sales in a Market (economics), market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those ...

. At one point, it had one overseas branch in

Honolulu Honolulu ( ; ) is the List of capitals in the United States, capital and most populous city of the U.S. state of Hawaii, located in the Pacific Ocean. It is the county seat of the Consolidated city-county, consolidated City and County of Honol ...

that it opened in 1997 to serve

Samoans Samoans or Samoan people () are the Indigenous Polynesian people of the Samoan Islands, an archipelago in Polynesia, who speak the Samoan language. The group's home islands are politically and geographically divided between the Independent S ...

Hawaii Hawaii ( ; ) is an island U.S. state, state of the United States, in the Pacific Ocean about southwest of the U.S. mainland. One of the two Non-contiguous United States, non-contiguous U.S. states (along with Alaska), it is the only sta ...

. In 1999,

Australia and New Zealand Banking Group The Australia and New Zealand Banking Group Limited, commonly known as ANZ Bank, is a multinational corporation, multinational banking and financial services company headquartered in Melbourne, Victoria (state), Victoria, Australia. It is Austr ...

(ANZ) acquired ASB and renamed it ANZ Amerika Samoa Bank (ANZ ASB). The process was completed by 2001. ANZ ASB had two branches in Samoa and 10 ATMs. In 2007 the bank acquired Citizens Security Bank for $25 million. In 2010, it launched an internet banking service. On 31 March 2022 ANZ announced it would exit US community banking in Samoa. This resulted in the closure of all bank accounts in October 2022 and loans were transferred to MWW Financial Services LLC. Before closure, the

Governor of American Samoa This is a list of Governor (United States), governors, etc. of the part of the Samoan Islands (now comprising American Samoa) under United States administration since 1900. From 1900 to 1978 governors were appointed by the Federal government o ...

criticised the bank for failing to make loans or invest in the community for a "very long time".

References

Sources

* Tschoegl, A.E. 2005. Foreign Banks in the Pacific: A Note. ''Journal of Pacific History''. Defunct banks of the United States Australia and New Zealand Banking Group Banks established in 1979 Banks of American Samoa {{Bank-stub