XML 65 R42.htm IDEA: XBRL DOCUMENT
v3.22.4

Bank segment (HEI only) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Bank Segment Disclosure [Abstract] |
Schedule of statements of income data | Consolidating statement of income Year ended December 31, 2022
(in thousands) | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  |  |  | Consolidating adjustments |  |  | Hawaiian Electric Consolidated
Revenues | $ | 2,452,969 |  |  | 485,590 |  |  | 470,355 |  |  |  |  | (327) |  | [1] |  | $ | 3,408,587 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil | 917,801 |  |  | 133,238 |  |  | 214,575 |  |  |  |  | — |  |  |  | 1,265,614 |
Purchased power | 601,235 |  |  | 143,636 |  |  | 48,713 |  |  |  |  | — |  |  |  | 793,584 |
Other operation and maintenance | 326,785 |  |  | 85,110 |  |  | 85,706 |  |  |  |  | — |  |  |  | 497,601 |
Depreciation | 158,725 |  |  | 41,404 |  |  | 35,295 |  |  |  |  | — |  |  |  | 235,424 |
Taxes, other than income taxes | 228,843 |  |  | 44,685 |  |  | 43,645 |  |  |  |  | — |  |  |  | 317,173 |
Total expenses | 2,233,389 |  |  | 448,073 |  |  | 427,934 |  |  |  |  | — |  |  |  | 3,109,396 |
Operating income | 219,580 |  |  | 37,517 |  |  | 42,421 |  |  |  |  | (327) |  |  |  | 299,191 |
Allowance for equity funds used during construction | 8,464 |  |  | 898 |  |  | 1,212 |  |  |  |  | — |  |  |  | 10,574 |
Equity in earnings of subsidiaries | 47,493 |  |  | — |  |  | — |  |  |  |  | (47,493) |  | [2] |  | — |
Retirement defined benefits credit (expense)—other than service costs | 3,296 |  |  | 666 |  |  | (127) |  |  |  |  | — |  |  |  | 3,835 |
Interest expense and other charges, net | (55,260) |  |  | (10,659) |  |  | (10,824) |  |  |  |  | 327 |  | [1] |  | (76,416) |
Allowance for borrowed funds used during construction | 2,769 |  |  | 277 |  |  | 370 |  |  |  |  | — |  |  |  | 3,416 |
Income before income taxes | 226,342 |  |  | 28,699 |  |  | 33,052 |  |  |  |  | (47,493) |  |  |  | 240,600 |
Income taxes | 36,333 |  |  | 6,349 |  |  | 6,994 |  |  |  |  | — |  |  |  | 49,676 |
Net income | 190,009 |  |  | 22,350 |  |  | 26,058 |  |  |  |  | (47,493) |  |  |  | 190,924 |
Preferred stock dividends of subsidiaries | — |  |  | 534 |  |  | 381 |  |  |  |  | — |  |  |  | 915 |
Net income attributable to Hawaiian Electric | 190,009 |  |  | 21,816 |  |  | 25,677 |  |  |  |  | (47,493) |  |  |  | 190,009 |
Preferred stock dividends of Hawaiian Electric | 1,080 |  |  | — |  |  | — |  |  |  |  | — |  |  |  | 1,080 |
Net income for common stock | $ | 188,929 |  |  | 21,816 |  |  | 25,677 |  |  |  |  | (47,493) |  |  |  | $ | 188,929 |
Consolidating statement of income Year ended December 31, 2021
(in thousands) | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  |  |  | Consolidating adjustments |  |  | Hawaiian Electric Consolidated
Revenues | $ | 1,793,372 |  |  | 381,033 |  |  | 365,256 |  |  |  |  | (25) |  | [1] |  | $ | 2,539,636 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil | 442,818 |  |  | 80,086 |  |  | 121,445 |  |  |  |  | — |  |  |  | 644,349 |
Purchased power | 508,642 |  |  | 108,997 |  |  | 52,855 |  |  |  |  | — |  |  |  | 670,494 |
Other operation and maintenance | 313,009 |  |  | 79,390 |  |  | 83,013 |  |  |  |  | — |  |  |  | 475,412 |
Depreciation | 155,607 |  |  | 40,201 |  |  | 33,661 |  |  |  |  | — |  |  |  | 229,469 |
Taxes, other than income taxes | 170,604 |  |  | 35,499 |  |  | 34,251 |  |  |  |  | — |  |  |  | 240,354 |
Total expenses | 1,590,680 |  |  | 344,173 |  |  | 325,225 |  |  |  |  | — |  |  |  | 2,260,078 |
Operating income | 202,692 |  |  | 36,860 |  |  | 40,031 |  |  |  |  | (25) |  |  |  | 279,558 |
Allowance for equity funds used during construction | 7,734 |  |  | 586 |  |  | 1,214 |  |  |  |  | — |  |  |  | 9,534 |
Equity in earnings of subsidiaries | 45,353 |  |  | — |  |  | — |  |  |  |  | (45,353) |  | [2] |  | — |
Retirement defined benefits credit (expense)—other than service costs | 3,348 |  |  | 670 |  |  | (128) |  |  |  |  | — |  |  |  | 3,890 |
Interest expense and other charges, net | (51,680) |  |  | (10,353) |  |  | (10,439) |  |  |  |  | 25 |  | [1] |  | (72,447) |
Allowance for borrowed funds used during construction | 2,617 |  |  | 197 |  |  | 436 |  |  |  |  | — |  |  |  | 3,250 |
Income before income taxes | 210,064 |  |  | 27,960 |  |  | 31,114 |  |  |  |  | (45,353) |  |  |  | 223,785 |
Income taxes | 31,342 |  |  | 6,246 |  |  | 6,560 |  |  |  |  | — |  |  |  | 44,148 |
Net income | 178,722 |  |  | 21,714 |  |  | 24,554 |  |  |  |  | (45,353) |  |  |  | 179,637 |
Preferred stock dividends of subsidiaries | — |  |  | 534 |  |  | 381 |  |  |  |  | — |  |  |  | 915 |
Net income attributable to Hawaiian Electric | 178,722 |  |  | 21,180 |  |  | 24,173 |  |  |  |  | (45,353) |  |  |  | 178,722 |
Preferred stock dividends of Hawaiian Electric | 1,080 |  |  | — |  |  | — |  |  |  |  | — |  |  |  | 1,080 |
Net income for common stock | $ | 177,642 |  |  | 21,180 |  |  | 24,173 |  |  |  |  | (45,353) |  |  |  | $ | 177,642 |
Consolidating statement of income Year ended December 31, 2020
(in thousands) | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  |  |  | Consolidating adjustments |  |  | Hawaiian Electric Consolidated
Revenues | $ | 1,608,305 |  |  | 334,221 |  |  | 323,430 |  |  |  |  | (636) |  | [1] |  | $ | 2,265,320 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil | 354,087 |  |  | 72,202 |  |  | 88,985 |  |  |  |  | — |  |  |  | 515,274 |
Purchased power | 446,672 |  |  | 73,120 |  |  | 48,957 |  |  |  |  | — |  |  |  | 568,749 |
Other operation and maintenance | 311,781 |  |  | 73,746 |  |  | 88,665 |  |  |  |  | — |  |  |  | 474,192 |
Depreciation | 151,387 |  |  | 39,041 |  |  | 32,305 |  |  |  |  | — |  |  |  | 222,733 |
Taxes, other than income taxes | 154,191 |  |  | 31,181 |  |  | 30,450 |  |  |  |  | — |  |  |  | 215,822 |
Total expenses | 1,418,118 |  |  | 289,290 |  |  | 289,362 |  |  |  |  | — |  |  |  | 1,996,770 |
Operating income | 190,187 |  |  | 44,931 |  |  | 34,068 |  |  |  |  | (636) |  |  |  | 268,550 |
Allowance for equity funds used during construction | 7,335 |  |  | 543 |  |  | 890 |  |  |  |  | — |  |  |  | 8,768 |
Equity in earnings of subsidiaries | 47,504 |  |  | — |  |  | — |  |  |  |  | (47,504) |  | [2] |  | — |
Retirement defined benefits credit (expense)—other than service costs | (1,294) |  |  | 672 |  |  | (141) |  |  |  |  | — |  |  |  | (763) |
Interest expense and other charges, net | (48,775) |  |  | (10,004) |  |  | (9,651) |  |  |  |  | 636 |  | [1] |  | (67,794) |
Allowance for borrowed funds used during construction | 2,540 |  |  | 160 |  |  | 292 |  |  |  |  | — |  |  |  | 2,992 |
Income before income taxes | 197,497 |  |  | 36,302 |  |  | 25,458 |  |  |  |  | (47,504) |  |  |  | 211,753 |
Income taxes | 27,077 |  |  | 8,275 |  |  | 5,066 |  |  |  |  | — |  |  |  | 40,418 |
Net income | 170,420 |  |  | 28,027 |  |  | 20,392 |  |  |  |  | (47,504) |  |  |  | 171,335 |
Preferred stock dividends of subsidiaries | — |  |  | 534 |  |  | 381 |  |  |  |  | — |  |  |  | 915 |
Net income attributable to Hawaiian Electric | 170,420 |  |  | 27,493 |  |  | 20,011 |  |  |  |  | (47,504) |  |  |  | 170,420 |
Preferred stock dividends of Hawaiian Electric | 1,080 |  |  | — |  |  | — |  |  |  |  | — |  |  |  | 1,080 |
Net income for common stock | $ | 169,340 |  |  | 27,493 |  |  | 20,011 |  |  |  |  | (47,504) |  |  |  | $ | 169,340 |
Statements of Income and Comprehensive Income Data
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Interest and dividend income |  |  |  |  |
Interest and fees on loans | $ | 207,830 |  |  | $ | 198,802 |  |  | $ | 214,134 |
Interest and dividends on investment securities | 58,044 |  |  | 43,464 |  |  | 30,529 |
Total interest and dividend income | 265,874 |  |  | 242,266 |  |  | 244,663 |
Interest expense |  |  |  |  |
Interest on deposit liabilities | 7,327 |  |  | 4,981 |  |  | 10,654 |
Interest on other borrowings | 5,974 |  |  | 59 |  |  | 460 |
Total interest expense | 13,301 |  |  | 5,040 |  |  | 11,114 |
Net interest income | 252,573 |  |  | 237,226 |  |  | 233,549 |
Provision for credit losses | 2,037 |  |  | (25,825) |  |  | 50,811 |
Net interest income after provision for credit losses | 250,536 |  |  | 263,051 |  |  | 182,738 |
Noninterest income |  |  |  |  |
Fees from other financial services | 19,830 |  |  | 21,225 |  |  | 16,447 |
Fee income on deposit liabilities | 18,762 |  |  | 16,663 |  |  | 16,059 |
Fee income on other financial products | 10,291 |  |  | 8,770 |  |  | 6,381 |
Bank-owned life insurance | 2,533 |  |  | 7,318 |  |  | 6,483 |
Mortgage banking income | 1,692 |  |  | 9,305 |  |  | 23,734 |
Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
Other income, net | 2,086 |  |  | 851 |  |  | (256) |
Total noninterest income | 56,972 |  |  | 64,660 |  |  | 78,123 |
Noninterest expense |  |  |  |  |
Compensation and employee benefits | 113,839 |  |  | 113,970 |  |  | 104,443 |
Occupancy | 24,026 |  |  | 20,584 |  |  | 21,573 |
Data processing | 17,681 |  |  | 17,634 |  |  | 14,769 |
Services | 10,679 |  |  | 10,327 |  |  | 11,121 |
Equipment | 10,100 |  |  | 9,510 |  |  | 9,001 |
Office supplies, printing and postage | 4,398 |  |  | 4,239 |  |  | 4,623 |
Marketing | 3,968 |  |  | 3,870 |  |  | 3,435 |
FDIC insurance | 3,591 |  |  | 3,235 |  |  | 2,342 |
Other expense 1 | 16,985 |  |  | 13,783 |  |  | 20,283 |
Total noninterest expense | 205,267 |  |  | 197,152 |  |  | 191,590 |
Income before income taxes | 102,241 |  |  | 130,559 |  |  | 69,271 |
Income taxes | 22,252 |  |  | 29,325 |  |  | 11,688 |
Net income | 79,989 |  |  | 101,234 |  |  | 57,583 |
Other comprehensive income (loss), net of taxes | (298,833) |  |  | (52,728) |  |  | 23,608 |
Comprehensive income (loss) | $ | (218,844) |  |  | $ | 48,506 |  |  | $ | 81,191 |
1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Interest and dividend income | $ | 265,874 |  |  | $ | 242,266 |  |  | $ | 244,663 |
Noninterest income | 56,972 |  |  | 64,660 |  |  | 78,123 |
Less: Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
Less: Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
*Revenues-Bank | 321,068 |  |  | 306,398 |  |  | 313,511 |
Total interest expense | 13,301 |  |  | 5,040 |  |  | 11,114 |
Provision for credit losses | 2,037 |  |  | (25,825) |  |  | 50,811 |
Noninterest expense | 205,267 |  |  | 197,152 |  |  | 191,590 |
Less: Retirement defined benefits expense (credit)—other than service costs | (723) |  |  | (1,828) |  |  | 1,813 |
Add: Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
*Expenses-Bank | 219,550 |  |  | 178,195 |  |  | 251,702 |
*Operating income-Bank | 101,518 |  |  | 128,203 |  |  | 61,809 |
Add back: Retirement defined benefits expense (credit)—other than service costs | (723) |  |  | (1,828) |  |  | 1,813 |
Add back: Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
Income before income taxes | $ | 102,241 |  |  | $ | 130,559 |  |  | $ | 69,271 |
Schedule of statements of comprehensive income data | Statements of Income and Comprehensive Income Data
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Interest and dividend income |  |  |  |  |
Interest and fees on loans | $ | 207,830 |  |  | $ | 198,802 |  |  | $ | 214,134 |
Interest and dividends on investment securities | 58,044 |  |  | 43,464 |  |  | 30,529 |
Total interest and dividend income | 265,874 |  |  | 242,266 |  |  | 244,663 |
Interest expense |  |  |  |  |
Interest on deposit liabilities | 7,327 |  |  | 4,981 |  |  | 10,654 |
Interest on other borrowings | 5,974 |  |  | 59 |  |  | 460 |
Total interest expense | 13,301 |  |  | 5,040 |  |  | 11,114 |
Net interest income | 252,573 |  |  | 237,226 |  |  | 233,549 |
Provision for credit losses | 2,037 |  |  | (25,825) |  |  | 50,811 |
Net interest income after provision for credit losses | 250,536 |  |  | 263,051 |  |  | 182,738 |
Noninterest income |  |  |  |  |
Fees from other financial services | 19,830 |  |  | 21,225 |  |  | 16,447 |
Fee income on deposit liabilities | 18,762 |  |  | 16,663 |  |  | 16,059 |
Fee income on other financial products | 10,291 |  |  | 8,770 |  |  | 6,381 |
Bank-owned life insurance | 2,533 |  |  | 7,318 |  |  | 6,483 |
Mortgage banking income | 1,692 |  |  | 9,305 |  |  | 23,734 |
Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
Other income, net | 2,086 |  |  | 851 |  |  | (256) |
Total noninterest income | 56,972 |  |  | 64,660 |  |  | 78,123 |
Noninterest expense |  |  |  |  |
Compensation and employee benefits | 113,839 |  |  | 113,970 |  |  | 104,443 |
Occupancy | 24,026 |  |  | 20,584 |  |  | 21,573 |
Data processing | 17,681 |  |  | 17,634 |  |  | 14,769 |
Services | 10,679 |  |  | 10,327 |  |  | 11,121 |
Equipment | 10,100 |  |  | 9,510 |  |  | 9,001 |
Office supplies, printing and postage | 4,398 |  |  | 4,239 |  |  | 4,623 |
Marketing | 3,968 |  |  | 3,870 |  |  | 3,435 |
FDIC insurance | 3,591 |  |  | 3,235 |  |  | 2,342 |
Other expense 1 | 16,985 |  |  | 13,783 |  |  | 20,283 |
Total noninterest expense | 205,267 |  |  | 197,152 |  |  | 191,590 |
Income before income taxes | 102,241 |  |  | 130,559 |  |  | 69,271 |
Income taxes | 22,252 |  |  | 29,325 |  |  | 11,688 |
Net income | 79,989 |  |  | 101,234 |  |  | 57,583 |
Other comprehensive income (loss), net of taxes | (298,833) |  |  | (52,728) |  |  | 23,608 |
Comprehensive income (loss) | $ | (218,844) |  |  | $ | 48,506 |  |  | $ | 81,191 |
1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Interest and dividend income | $ | 265,874 |  |  | $ | 242,266 |  |  | $ | 244,663 |
Noninterest income | 56,972 |  |  | 64,660 |  |  | 78,123 |
Less: Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
Less: Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
*Revenues-Bank | 321,068 |  |  | 306,398 |  |  | 313,511 |
Total interest expense | 13,301 |  |  | 5,040 |  |  | 11,114 |
Provision for credit losses | 2,037 |  |  | (25,825) |  |  | 50,811 |
Noninterest expense | 205,267 |  |  | 197,152 |  |  | 191,590 |
Less: Retirement defined benefits expense (credit)—other than service costs | (723) |  |  | (1,828) |  |  | 1,813 |
Add: Gain on sale of real estate | 1,778 |  |  | — |  |  | — |
*Expenses-Bank | 219,550 |  |  | 178,195 |  |  | 251,702 |
*Operating income-Bank | 101,518 |  |  | 128,203 |  |  | 61,809 |
Add back: Retirement defined benefits expense (credit)—other than service costs | (723) |  |  | (1,828) |  |  | 1,813 |
Add back: Gain on sale of investment securities, net | — |  |  | 528 |  |  | 9,275 |
Income before income taxes | $ | 102,241 |  |  | $ | 130,559 |  |  | $ | 69,271 |
Schedule of balance sheets data | Consolidating balance sheet December 31, 2022
(in thousands) | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  |  | Hawaiian Electric Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |
Utility property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |
Land | $ | 42,860 |  |  | 5,606 |  |  | 3,594 |  |  | — |  |  | — |  |  |  | 52,060 |
Plant and equipment | 5,260,685 |  |  | 1,425,442 |  |  | 1,293,383 |  |  | — |  |  | — |  |  |  | 7,979,510 |
Finance lease right-of-use assets | 48,371 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 48,371 |
Less accumulated depreciation | (1,855,150) |  |  | (644,457) |  |  | (586,892) |  |  | — |  |  | — |  |  |  | (3,086,499) |
Construction in progress | 215,560 |  |  | 23,989 |  |  | 35,804 |  |  | — |  |  | — |  |  |  | 275,353 |
Utility property, plant and equipment, net | 3,712,326 |  |  | 810,580 |  |  | 745,889 |  |  | — |  |  | — |  |  |  | 5,268,795 |
Nonutility property, plant and equipment, less accumulated depreciation | 5,298 |  |  | 115 |  |  | 1,532 |  |  | — |  |  | — |  |  |  | 6,945 |
Total property, plant and equipment, net | 3,717,624 |  |  | 810,695 |  |  | 747,421 |  |  | — |  |  | — |  |  |  | 5,275,740 |
Investment in wholly-owned subsidiaries, at equity | 701,833 |  |  | — |  |  | — |  |  | — |  |  | (701,833) |  | [2] |  | — |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 27,579 |  |  | 5,092 |  |  | 6,494 |  |  | 77 |  |  | — |  |  |  | 39,242 |
Advances to affiliates | — |  |  | 4,500 |  |  | 21,700 |  |  | — |  |  | (26,200) |  | [1] |  | — |
Customer accounts receivable, net | 216,802 |  |  | 39,339 |  |  | 32,197 |  |  | — |  |  | — |  |  |  | 288,338 |
Accrued unbilled revenues, net | 136,508 |  |  | 23,839 |  |  | 22,933 |  |  | — |  |  | — |  |  |  | 183,280 |
Other accounts receivable, net | 23,746 |  |  | 5,519 |  |  | 6,686 |  |  | — |  |  | (22,384) |  | [1] |  | 13,567 |
Fuel oil stock, at average cost | 153,342 |  |  | 16,964 |  |  | 21,224 |  |  | — |  |  | — |  |  |  | 191,530 |
Materials and supplies, at average cost | 48,130 |  |  | 9,783 |  |  | 21,655 |  |  | — |  |  | — |  |  |  | 79,568 |
Prepayments and other | 24,040 |  |  | 6,346 |  |  | 4,137 |  |  | — |  |  | (1,041) |  | [1] |  | 33,482 |
Regulatory assets | 46,504 |  |  | 2,435 |  |  | 3,334 |  |  | — |  |  | — |  |  |  | 52,273 |
Total current assets | 676,651 |  |  | 113,817 |  |  | 140,360 |  |  | 77 |  |  | (49,625) |  |  |  | 881,280 |
Other long-term assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right-of-use assets | 42,752 |  |  | 34,283 |  |  | 12,283 |  |  | — |  |  | — |  |  |  | 89,318 |
Regulatory assets | 154,040 |  |  | 21,816 |  |  | 14,384 |  |  | — |  |  | — |  |  |  | 190,240 |
Other | 115,028 |  |  | 32,654 |  |  | 29,495 |  |  | — |  |  | (16,288) |  | [1] |  | 160,889 |
Total other long-term assets | 311,820 |  |  | 88,753 |  |  | 56,162 |  |  | — |  |  | (16,288) |  |  |  | 440,447 |
Total assets | $ | 5,407,928 |  |  | 1,013,265 |  |  | 943,943 |  |  | 77 |  |  | (767,746) |  |  |  | $ | 6,597,467 |
Capitalization and liabilities |  |  |  |  |  |  |  |  |  |  |  |
Capitalization |  |  |  |  |  |  |  |  |  |  |  |
Common stock equity | $ | 2,344,170 |  |  | 344,720 |  |  | 357,036 |  |  | 77 |  |  | (701,833) |  | [2] |  | $ | 2,344,170 |
Cumulative preferred stock–not subject to mandatory redemption | 22,293 |  |  | 7,000 |  |  | 5,000 |  |  | — |  |  | — |  |  |  | 34,293 |
Long-term debt, net | 1,126,915 |  |  | 224,439 |  |  | 233,500 |  |  | — |  |  | — |  |  |  | 1,584,854 |
Total capitalization | 3,493,378 |  |  | 576,159 |  |  | 595,536 |  |  | 77 |  |  | (701,833) |  |  |  | 3,963,317 |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion of operating lease liabilities | 9,775 |  |  | 6,690 |  |  | 2,630 |  |  | — |  |  | — |  |  |  | 19,095 |
Current portion of long-term debt, net | 49,981 |  |  | 19,992 |  |  | 29,989 |  |  | — |  |  | — |  |  |  | 99,962 |
Short-term borrowings-non-affiliate | 87,967 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 87,967 |
Short-term borrowings-affiliate | 26,200 |  |  | — |  |  | — |  |  | — |  |  | (26,200) |  | [1] |  | — |
Accounts payable | 143,253 |  |  | 32,113 |  |  | 27,126 |  |  | — |  |  | — |  |  |  | 202,492 |
Interest and preferred dividends payable | 12,398 |  |  | 2,576 |  |  | 2,282 |  |  | — |  |  | (80) |  | [1] |  | 17,176 |
Taxes accrued, including revenue taxes | 207,798 |  |  | 42,436 |  |  | 40,709 |  |  | — |  |  | (1,041) |  | [1] |  | 289,902 |
Regulatory liabilities | 13,145 |  |  | 8,553 |  |  | 9,777 |  |  | — |  |  | — |  |  |  | 31,475 |
Other | 64,659 |  |  | 20,856 |  |  | 22,385 |  |  | — |  |  | (22,304) |  | [1] |  | 85,596 |
Total current liabilities | 615,176 |  |  | 133,216 |  |  | 134,898 |  |  | — |  |  | (49,625) |  |  |  | 833,665 |
Deferred credits and other liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liabilities | 41,049 |  |  | 27,817 |  |  | 9,849 |  |  | — |  |  | — |  |  |  | 78,715 |
Finance lease liabilities | 46,048 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 46,048 |
Deferred income taxes | 271,234 |  |  | 50,615 |  |  | 62,581 |  |  | — |  |  | — |  |  |  | 384,430 |
Regulatory liabilities | 729,683 |  |  | 194,222 |  |  | 100,270 |  |  | — |  |  | — |  |  |  | 1,024,175 |
Unamortized tax credits | 69,614 |  |  | 13,150 |  |  | 12,536 |  |  | — |  |  | — |  |  |  | 95,300 |
Defined benefit pension and other postretirement benefit plans liability | 65,907 |  |  | 129 |  |  | — |  |  | — |  |  | (16,288) |  | [1] |  | 49,748 |
Other | 75,839 |  |  | 17,957 |  |  | 28,273 |  |  |  |  | — |  |  |  | 122,069 |
Total deferred credits and other liabilities | 1,299,374 |  |  | 303,890 |  |  | 213,509 |  |  | — |  |  | (16,288) |  |  |  | 1,800,485 |
Total capitalization and liabilities | $ | 5,407,928 |  |  | 1,013,265 |  |  | 943,943 |  |  | 77 |  |  | (767,746) |  |  |  | $ | 6,597,467 |
Consolidating balance sheet December 31, 2021
(in thousands) | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  |  | Hawaiian Electric Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |
Utility property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |
Land | $ | 42,737 |  |  | 5,606 |  |  | 3,594 |  |  | — |  |  | — |  |  |  | $ | 51,937 |
Plant and equipment | 5,097,033 |  |  | 1,390,361 |  |  | 1,248,589 |  |  | — |  |  | — |  |  |  | 7,735,983 |
Less accumulated depreciation | (1,757,096) |  |  | (619,991) |  |  | (563,430) |  |  | — |  |  | — |  |  |  | (2,940,517) |
Construction in progress | 159,854 |  |  | 17,129 |  |  | 27,586 |  |  | — |  |  | — |  |  |  | 204,569 |
Utility property, plant and equipment, net | 3,542,528 |  |  | 793,105 |  |  | 716,339 |  |  | — |  |  | — |  |  |  | 5,051,972 |
Nonutility property, plant and equipment, less accumulated depreciation | 5,302 |  |  | 115 |  |  | 1,532 |  |  | — |  |  | — |  |  |  | 6,949 |
Total property, plant and equipment, net | 3,547,830 |  |  | 793,220 |  |  | 717,871 |  |  | — |  |  | — |  |  |  | 5,058,921 |
Investment in wholly-owned subsidiaries, at equity | 676,237 |  |  | — |  |  | — |  |  | — |  |  | (676,237) |  | [2] |  | — |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 23,344 |  |  | 5,326 |  |  | 23,422 |  |  | 77 |  |  | — |  |  |  | 52,169 |
Restricted cash | 3,089 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 3,089 |
Advances to affiliates | 1,000 |  |  | — |  |  | — |  |  | — |  |  | (1,000) |  | [1] |  | — |
Customer accounts receivable, net | 135,949 |  |  | 28,469 |  |  | 22,441 |  |  | — |  |  | — |  |  |  | 186,859 |
Accrued unbilled revenues, net | 92,469 |  |  | 19,529 |  |  | 17,157 |  |  | — |  |  | — |  |  |  | 129,155 |
Other accounts receivable, net | 18,624 |  |  | 3,347 |  |  | 3,031 |  |  | — |  |  | (17,735) |  | [1] |  | 7,267 |
Fuel oil stock, at average cost | 71,184 |  |  | 12,814 |  |  | 20,080 |  |  | — |  |  | — |  |  |  | 104,078 |
Materials and supplies, at average cost | 42,006 |  |  | 9,727 |  |  | 20,144 |  |  | — |  |  | — |  |  |  | 71,877 |
Prepayments and other | 32,140 |  |  | 6,052 |  |  | 7,114 |  |  | — |  |  | 725 |  | [1] |  | 46,031 |
Regulatory assets | 58,695 |  |  | 3,051 |  |  | 4,918 |  |  | — |  |  | — |  |  |  | 66,664 |
Total current assets | 478,500 |  |  | 88,315 |  |  | 118,307 |  |  | 77 |  |  | (18,010) |  |  |  | 667,189 |
Other long-term assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right-of-use assets | 78,710 |  |  | 22,442 |  |  | 318 |  |  | — |  |  | — |  |  |  | 101,470 |
Regulatory assets | 337,903 |  |  | 81,645 |  |  | 79,331 |  |  | — |  |  | — |  |  |  | 498,879 |
Other | 130,546 |  |  | 17,124 |  |  | 18,510 |  |  | — |  |  | (1,014) |  | [1] |  | 165,166 |
Total other long-term assets | 547,159 |  |  | 121,211 |  |  | 98,159 |  |  | — |  |  | (1,014) |  |  |  | 765,515 |
Total assets | $ | 5,249,726 |  |  | 1,002,746 |  |  | 934,337 |  |  | 77 |  |  | (695,261) |  |  |  | $ | 6,491,625 |
Capitalization and liabilities |  |  |  |  |  |  |  |  |  |  |  |
Capitalization |  |  |  |  |  |  |  |  |  |  |  |
Common stock equity | $ | 2,261,899 |  |  | 332,900 |  |  | 343,260 |  |  | 77 |  |  | (676,237) |  | [2] |  | $ | 2,261,899 |
Cumulative preferred stock–not subject to mandatory redemption | 22,293 |  |  | 7,000 |  |  | 5,000 |  |  | — |  |  | — |  |  |  | 34,293 |
Long-term debt, net | 1,136,620 |  |  | 234,390 |  |  | 253,417 |  |  | — |  |  | — |  |  |  | 1,624,427 |
Total capitalization | 3,420,812 |  |  | 574,290 |  |  | 601,677 |  |  | 77 |  |  | (676,237) |  |  |  | 3,920,619 |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion of operating lease liabilities | 45,955 |  |  | 3,378 |  |  | 35 |  |  | — |  |  | — |  |  |  | 49,368 |
Current portion of long-term debt | 39,981 |  |  | 11,994 |  |  | — |  |  | — |  |  | — |  |  |  | 51,975 |
Short-term borrowings-affiliate | — |  |  | 1,000 |  |  | — |  |  | — |  |  | (1,000) |  | [1] |  | — |
Accounts payable | 111,024 |  |  | 26,139 |  |  | 22,844 |  |  | — |  |  | — |  |  |  | 160,007 |
Interest and preferred dividends payable | 12,442 |  |  | 2,617 |  |  | 2,269 |  |  | — |  |  | (3) |  | [1] |  | 17,325 |
Taxes accrued, including revenue taxes | 143,723 |  |  | 33,153 |  |  | 30,679 |  |  | — |  |  | 725 |  | [1] |  | 208,280 |
Regulatory liabilities | 22,240 |  |  | 3,247 |  |  | 4,273 |  |  | — |  |  | — |  |  |  | 29,760 |
Other | 56,752 |  |  | 14,158 |  |  | 18,540 |  |  | — |  |  | (17,881) |  | [1] |  | 71,569 |
Total current liabilities | 432,117 |  |  | 95,686 |  |  | 78,640 |  |  | — |  |  | (18,159) |  |  |  | 588,284 |
Deferred credits and other liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liabilities | 46,426 |  |  | 19,063 |  |  | 291 |  |  | — |  |  | — |  |  |  | 65,780 |
Deferred income taxes | 291,027 |  |  | 53,298 |  |  | 64,309 |  |  | — |  |  | — |  |  |  | 408,634 |
Regulatory liabilities | 695,152 |  |  | 179,267 |  |  | 92,589 |  |  | — |  |  | — |  |  |  | 967,008 |
Unamortized tax credits | 76,201 |  |  | 14,212 |  |  | 13,532 |  |  | — |  |  | — |  |  |  | 103,945 |
Defined benefit pension and other postretirement benefit plans liability | 220,480 |  |  | 48,900 |  |  | 53,257 |  |  | — |  |  | (857) |  | [1] |  | 321,780 |
Other | 67,511 |  |  | 18,030 |  |  | 30,042 |  |  | — |  |  | (8) |  |  |  | 115,575 |
Total deferred credits and other liabilities | 1,396,797 |  |  | 332,770 |  |  | 254,020 |  |  | — |  |  | (865) |  |  |  | 1,982,722 |
Total capitalization and liabilities | $ | 5,249,726 |  |  | 1,002,746 |  |  | 934,337 |  |  | 77 |  |  | (695,261) |  |  |  | $ | 6,491,625 |
Balance Sheets Data
December 31 |  | 2022 |  | 2021
(in thousands) |  |  |  |
Assets |  |  |  |
Cash and due from banks |  | $ | 153,042 |  |  | $ | 100,051 |
Interest-bearing deposits |  | 3,107 |  |  | 151,189 |
Cash and cash equivalents |  | 156,149 |  |  | 251,240 |
Investment securities |  |  |  |
Available-for-sale, at fair value |  | 1,429,667 |  |  | 2,574,618 |
Held-to-maturity, at amortized cost (fair value of $1,150,971 and $510,474 at December 31, 2022 and 2021, respectively) |  | 1,251,747 |  |  | 522,270 |
Stock in Federal Home Loan Bank, at cost |  | 26,560 |  |  | 10,000 |
Loans held for investment |  | 5,978,906 |  |  | 5,211,114 |
Allowance for credit losses |  | (72,216) |  |  | (71,130) |
Net loans |  | 5,906,690 |  |  | 5,139,984 |
Loans held for sale, at lower of cost or fair value |  | 824 |  |  | 10,404 |
Other |  | 692,143 |  |  | 590,897 |
Goodwill |  | 82,190 |  |  | 82,190 |
Total assets |  | $ | 9,545,970 |  |  | $ | 9,181,603 |
Liabilities and shareholder’s equity |  |  |  |
Deposit liabilities–noninterest-bearing |  | $ | 2,811,077 |  |  | $ | 2,976,632 |
Deposit liabilities–interest-bearing |  | 5,358,619 |  |  | 5,195,580 |
Other borrowings |  | 695,120 |  |  | 88,305 |
Other |  | 212,269 |  |  | 193,268 |
Total liabilities |  | 9,077,085 |  |  | 8,453,785 |
Commitments and contingencies |  |  |  |
Common stock |  | 1 |  |  | 1 |
Additional paid in capital |  | 355,806 |  |  | 353,895 |
Retained earnings |  | 449,693 |  |  | 411,704 |
Accumulated other comprehensive loss, net of tax benefits |  |  |  |
Net unrealized losses on securities | $ | (328,904) |  |  | $ | (32,037) |  |
Retirement benefit plans | (7,711) |  | (336,615) |  | (5,745) |  | (37,782) |
Total shareholder’s equity |  | 468,885 |  |  | 727,818 |
Total liabilities and shareholder’s equity |  | $ | 9,545,970 |  |  | $ | 9,181,603 |
December 31 |  | 2022 |  | 2021
(in thousands) |  |  |  |
Other assets |  |  |  |
Bank-owned life insurance |  | $ | 182,986 |  |  | $ | 177,566 |
Premises and equipment, net |  | 195,324 |  |  | 202,299 |
Accrued interest receivable |  | 25,077 |  |  | 20,854 |
Mortgage servicing rights |  | 9,047 |  |  | 9,950 |
Low-income housing investments |  | 106,978 |  |  | 110,989 |
Deferred tax asset |  | 116,441 |  |  | 7,699 |
Real estate acquired in settlement of loans, net |  | 115 |  |  | — |
Other |  | 56,175 |  |  | 61,540 |
|  | $ | 692,143 |  |  | $ | 590,897 |
Other liabilities |  |  |  |
Accrued expenses |  | $ | 97,295 |  |  | $ | 87,905 |
Federal income taxes payable |  | 863 |  |  | — |
Cashier’s checks |  | 36,401 |  |  | 33,675 |
Advance payments by borrowers |  | 9,637 |  |  | 9,994 |
Other |  | 68,073 |  |  | 61,694 |
|  | $ | 212,269 |  |  | $ | 193,268 |
Schedule of the book value and aggregate fair value by major security type | The major components of investment securities were as follows:
|  |  |  |  |  |  |  |  | Gross unrealized losses
|  |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value |  | Less than 12 months |  | 12 months or longer
(dollars in thousands) | Amortized cost |  |  |  |  | Number of issues |  | Fair value |  | Amount |  | Number of issues |  | Fair value |  | Amount
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agency obligations | $ | 88,344 |  |  | $ | — |  |  | $ | (7,281) |  |  | $ | 81,063 |  |  | 12 |  | $ | 41,201 |  |  | $ | (2,120) |  |  | 4 |  | $ | 39,862 |  |  | $ | (5,161) |
Mortgage-backed securities* | 1,530,582 |  |  | — |  |  | (237,614) |  |  | 1,292,968 |  |  | 113 |  | 455,836 |  |  | (56,999) |  |  | 70 |  | 837,132 |  |  | (180,615) |
Corporate bonds | 44,377 |  |  | — |  |  | (3,643) |  |  | 40,734 |  |  | 4 |  | 29,644 |  |  | (2,028) |  |  | 1 |  | 11,090 |  |  | (1,615) |
Mortgage revenue bonds | 14,902 |  |  | — |  |  | — |  |  | 14,902 |  |  | — |  | — |  |  | — |  |  | — |  | — |  |  | — |
| $ | 1,678,205 |  |  | $ | — |  |  | $ | (248,538) |  |  | $ | 1,429,667 |  |  | 129 |  | $ | 526,681 |  |  | $ | (61,147) |  |  | 75 |  | $ | 888,084 |  |  | $ | (187,391) |
Held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agency obligations | $ | 59,894 |  |  | $ | — |  |  | $ | (8,478) |  |  | $ | 51,416 |  |  | 1 |  | $ | 16,874 |  |  | $ | (3,222) |  |  | 2 |  | $ | 34,542 |  |  | $ | (5,256) |
Mortgage-backed securities* | 1,191,853 |  |  | 2,670 |  |  | (94,968) |  |  | 1,099,555 |  |  | 22 |  | 183,629 |  |  | (10,593) |  |  | 51 |  | 567,250 |  |  | (84,375) |
| $ | 1,251,747 |  |  | $ | 2,670 |  |  | $ | (103,446) |  |  | $ | 1,150,971 |  |  | 23 |  | $ | 200,503 |  |  | $ | (13,815) |  |  | 53 |  | $ | 601,792 |  |  | $ | (89,631) |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agency obligations | $ | 89,714 |  |  | $ | 803 |  |  | $ | (427) |  |  | $ | 90,090 |  |  | 4 |  | $ | 44,827 |  |  | $ | (427) |  |  | — |  | $ | — |  |  | $ | — |
Mortgage-backed securities* | 2,482,618 |  |  | 6,511 |  |  | (51,206) |  |  | 2,437,923 |  |  | 120 |  | 1,845,243 |  |  | (38,321) |  |  | 18 |  | 271,012 |  |  | (12,885) |
Corporate bonds | 30,625 |  |  | 655 |  |  | (102) |  |  | 31,178 |  |  | 1 |  | 12,780 |  |  | (102) |  |  | — |  | — |  |  | — |
Mortgage revenue bonds | 15,427 |  |  | — |  |  | — |  |  | 15,427 |  |  | — |  | — |  |  | — |  |  | — |  | — |  |  | — |
| $ | 2,618,384 |  |  | $ | 7,969 |  |  | $ | (51,735) |  |  | $ | 2,574,618 |  |  | 125 |  | $ | 1,902,850 |  |  | $ | (38,850) |  |  | 18 |  | $ | 271,012 |  |  | $ | (12,885) |
Held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agency obligations | $ | 59,871 |  |  | $ | 168 |  |  | $ | (170) |  |  | $ | 59,869 |  |  | 2 |  | $ | 39,594 |  |  | $ | (170) |  |  | — |  | $ | — |  |  | $ | — |
Mortgage-backed securities* | 462,399 |  |  | 1,480 |  |  | (13,274) |  |  | 450,605 |  |  | 22 |  | 290,883 |  |  | (7,665) |  |  | 7 |  | 106,483 |  |  | (5,609) |
| $ | 522,270 |  |  | $ | 1,648 |  |  | $ | (13,444) |  |  | $ | 510,474 |  |  | 24 |  | $ | 330,477 |  |  | $ | (7,835) |  |  | 7 |  | $ | 106,483 |  |  | $ | (5,609) |
* Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of contractual maturities of available-for-sale securities | The contractual maturities of investment securities were as follows:
| Amortized |  | Fair
December 31, 2022 | Cost |  | value
(in thousands) |  |  |
Available-for-sale |  |  |
Due in one year or less | $ | 1,193 |  |  | $ | 1,171 |
Due after one year through five years | 106,628 |  |  | 98,871 |
Due after five years through ten years | 39,802 |  |  | 36,657 |
Due after ten years | — |  |  | — |
| 147,623 |  |  | 136,699 |
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | 1,530,582 |  |  | 1,292,968 |
Total available-for-sale securities | $ | 1,678,205 |  |  | $ | 1,429,667 |
Held-to-maturity |  |  |
Due in one year or less | $ | — |  |  | $ | — |
Due after one year through five years | — |  |  | — |
Due after five years through ten years | 59,894 |  |  | 51,416 |
Due after ten years | — |  |  | — |
| 59,894 |  |  | 51,416 |
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | 1,191,853 |  |  | 1,099,555 |
Total held-to-maturity securities | $ | 1,251,747 |  |  | $ | 1,150,971 |
Schedule of proceeds, gains and losses from sales of available for sale investment securities | The proceeds, gross gains and losses from sales of available-for-sale securities were as follows:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Proceeds | $ | — |  |  | $ | 197,354 |  |  | $ | 169,157 |
Gross gains | — |  |  | 975 |  |  | 9,275 |
Gross losses | — |  |  | (447) |  |  | — |
Tax expense on realized gains | — |  |  | 142 |  |  | 2,486 |
Schedule of interest income from available for sale investment securities | Interest income from taxable and non-taxable investment securities were as follows:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Taxable | $ | 56,731 |  |  | $ | 42,534 |  |  | $ | 29,760 |
Non-taxable | 1,313 |  |  | 930 |  |  | 769 |
| $ | 58,044 |  |  | $ | 43,464 |  |  | $ | 30,529 |
Schedule of loans receivable | The components of loans were summarized as follows:
December 31 | 2022 |  | 2021
(in thousands) |  |  |
Real estate: |  |  |
Residential 1-4 family | $ | 2,479,637 |  |  | $ | 2,299,212 |
Commercial real estate | 1,358,123 |  |  | 1,056,982 |
Home equity line of credit | 1,002,905 |  |  | 835,663 |
Residential land | 20,679 |  |  | 19,859 |
Commercial construction | 88,489 |  |  | 91,080 |
Residential construction | 20,788 |  |  | 11,138 |
Total real estate | 4,970,621 |  |  | 4,313,934 |
Commercial | 779,691 |  |  | 793,304 |
Consumer | 254,709 |  |  | 113,966 |
Total loans | 6,005,021 |  |  | 5,221,204 |
Less: Deferred fees and discounts | (26,115) |  |  | (10,090) |
Allowance for credit losses | (72,216) |  |  | (71,130) |
Total loans, net | $ | 5,906,690 |  |  | $ | 5,139,984 |
Schedule of allowance for loan losses | The allowance for credit losses (balances and changes) and financing receivables by portfolio segment were as follows:
(in thousands) | Residential 1-4 family |  | Commercial real estate |  | Home equity line of credit |  | Residential land |  | Commercial construction |  | Residential construction |  | Commercial |  | Consumer |  |  |  | Total
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 6,545 |  |  | $ | 24,696 |  |  | $ | 5,657 |  |  | $ | 646 |  |  | $ | 2,186 |  |  | $ | 18 |  |  | $ | 15,798 |  |  | $ | 15,584 |  |  |  |  | $ | 71,130 |
Charge-offs | (13) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (563) |  |  | (6,254) |  |  |  |  | (6,830) |
Recoveries | 79 |  |  | — |  |  | 71 |  |  | 104 |  |  | — |  |  | — |  |  | 1,288 |  |  | 3,837 |  |  |  |  | 5,379 |
Net (charge-offs) recoveries | 66 |  |  | — |  |  | 71 |  |  | 104 |  |  | — |  |  | — |  |  | 725 |  |  | (2,417) |  |  |  |  | (1,451) |
Provision | (341) |  |  | (2,798) |  |  | 397 |  |  | (33) |  |  | (991) |  |  | 28 |  |  | (4,097) |  |  | 10,372 |  |  |  |  | 2,537 |
Ending balance | $ | 6,270 |  |  | $ | 21,898 |  |  | $ | 6,125 |  |  | $ | 717 |  |  | $ | 1,195 |  |  | $ | 46 |  |  | $ | 12,426 |  |  | $ | 23,539 |  |  |  |  | $ | 72,216 |
Average loans outstanding | $ | 2,331,473 |  |  | $ | 1,204,756 |  |  | $ | 918,563 |  |  | $ | 21,442 |  |  | $ | 90,021 |  |  | $ | 18,317 |  |  | $ | 710,658 |  |  | $ | 161,722 |  |  |  |  | $ | 5,456,952 |
Net charge-offs (recoveries) to average loans | — | % |  | — | % |  | (0.01 | %) |  | (0.49 | %) |  | — | % |  | — | % |  | (0.10 | %) |  | 1.49 | % |  |  |  | 0.03 | %
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 4,600 |  |  | $ | 35,607 |  |  | $ | 6,813 |  |  | $ | 609 |  |  | $ | 4,149 |  |  | $ | 11 |  |  | $ | 25,462 |  |  | $ | 23,950 |  |  |  |  | $ | 101,201 |
Charge-offs | (67) |  |  | — |  |  | (45) |  |  | — |  |  | — |  |  | — |  |  | (1,561) |  |  | (8,027) |  |  |  |  | (9,700) |
Recoveries | 92 |  |  | — |  |  | 113 |  |  | 61 |  |  | — |  |  | — |  |  | 1,468 |  |  | 4,320 |  |  |  |  | 6,054 |
Net (charge-offs) recoveries | 25 |  |  | — |  |  | 68 |  |  | 61 |  |  | — |  |  | — |  |  | (93) |  |  | (3,707) |  |  |  |  | (3,646) |
Provision | 1,920 |  |  | (10,911) |  |  | (1,224) |  |  | (24) |  |  | (1,963) |  |  | 7 |  |  | (9,571) |  |  | (4,659) |  |  |  |  | (26,425) |
Ending balance | $ | 6,545 |  |  | $ | 24,696 |  |  | $ | 5,657 |  |  | $ | 646 |  |  | $ | 2,186 |  |  | $ | 18 |  |  | $ | 15,798 |  |  | $ | 15,584 |  |  |  |  | $ | 71,130 |
Average loans outstanding | $ | 2,155,322 |  |  | $ | 1,046,276 |  |  | $ | 885,759 |  |  | $ | 18,227 |  |  | $ | 111,711 |  |  | $ | 11,361 |  |  | $ | 856,226 |  |  | $ | 135,609 |  |  |  |  | $ | 5,220,491 |
Net charge-offs (recoveries) to average loans | — | % |  | — | % |  | (0.01 | %) |  | (0.33 | %) |  | — | % |  | — | % |  | 0.01 | % |  | 2.73 | % |  |  |  | 0.07 | %
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASU No. 2016-13 | $ | 2,380 |  |  | $ | 15,053 |  |  | $ | 6,922 |  |  | $ | 449 |  |  | $ | 2,097 |  |  | $ | 3 |  |  | $ | 10,245 |  |  | $ | 16,206 |  |  |  |  | $ | 53,355 |
Impact of adopting ASU No. 2016-13 | 2,150 |  |  | 208 |  |  | (541) |  |  | (64) |  |  | 289 |  |  | 14 |  |  | 922 |  |  | 16,463 |  |  |  |  | 19,441 |
Charge-offs | (7) |  |  | — |  |  | (77) |  |  | (351) |  |  | — |  |  | — |  |  | (5,819) |  |  | (19,900) |  |  |  |  | (26,154) |
Recoveries | 394 |  |  | — |  |  | 63 |  |  | 38 |  |  | — |  |  | — |  |  | 872 |  |  | 3,381 |  |  |  |  | 4,748 |
Net (charge-offs) recoveries | 387 |  |  | — |  |  | (14) |  |  | (313) |  |  | — |  |  | — |  |  | (4,947) |  |  | (16,519) |  |  |  |  | (21,406) |
Provision | (317) |  |  | 20,346 |  |  | 446 |  |  | 537 |  |  | 1,763 |  |  | (6) |  |  | 19,242 |  |  | 7,800 |  |  |  |  | 49,811 |
Ending balance | $ | 4,600 |  |  | $ | 35,607 |  |  | $ | 6,813 |  |  | $ | 609 |  |  | $ | 4,149 |  |  | $ | 11 |  |  | $ | 25,462 |  |  | $ | 23,950 |  |  |  |  | $ | 101,201 |
Average loans outstanding | $ | 2,148,848 |  |  | $ | 861,096 |  |  | $ | 1,060,444 |  |  | $ | 13,799 |  |  | $ | 93,740 |  |  | $ | 10,703 |  |  | $ | 935,663 |  |  | $ | 215,994 |  |  |  |  | $ | 5,340,287 |
Net charge-offs (recoveries) to average loans | (0.02) | % |  | — | % |  | — | % |  | 2.27 | % |  | — | % |  | — | % |  | 0.53 | % |  | 7.65 | % |  |  |  | 0.40 | %
Loans considered collateral-dependent were as follows:
|  | December 31, 2022 |  | December 31, 2021
|  | Amortized cost |  | Collateral type |  | Amortized cost |  | Collateral type
(in thousands) |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |
Residential 1-4 family |  | $ | 3,959 |  |  | Residential real estate property |  | $ | 3,493 |  |  | Residential real estate property
Commercial real estate |  | — |  |  |  |  | 1,221 |  |  | Commercial real estate property
Home equity line of credit |  | 1,425 |  |  | Residential real estate property |  | 1,294 |  |  | Residential real estate property
Residential land |  | — |  |  |  |  | 300 |  |  | Residential real estate property
Total real estate |  | 5,384 |  |  |  |  | 6,308 |  |  |
Commercial |  | — |  |  |  |  | 692 |  |  | Business assets
Total |  | $ | 5,384 |  |  |  |  | $ | 7,000 |  |  |
Schedule of allowance for loan commitments | The allowance for loan commitments by portfolio segment were as follows:
(in thousands) |  | Home equity line of credit |  | Commercial construction |  | Commercial loans |  | Total
Year ended December 31, 2022 |  |  |  |  |  |  |  |
Allowance for loan commitments: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 400 |  |  | $ | 3,700 |  |  | $ | 800 |  |  | $ | 4,900 |
Provision |  | — |  |  | (1,100) |  |  | 600 |  |  | (500) |
Ending balance |  | $ | 400 |  |  | $ | 2,600 |  |  | $ | 1,400 |  |  | $ | 4,400 |
Year ended December 31, 2021 |  |  |  |  |  |  |  |
Allowance for loan commitments: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 300 |  |  | $ | 3,000 |  |  | $ | 1,000 |  |  | $ | 4,300 |
Provision |  | 100 |  |  | 700 |  |  | (200) |  |  | 600 |
Ending balance |  | $ | 400 |  |  | $ | 3,700 |  |  | $ | 800 |  |  | $ | 4,900 |
Year ended December 31, 2020 |  |  |  |  |  |  |  |
Allowance for loan commitments: |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASU No. 2016-13 |  | $ | 392 |  |  | $ | 931 |  |  | $ | 418 |  |  | $ | 1,741 |
Impact of adopting ASU No. 2016-13 |  | (92) |  |  | 1,745 |  |  | (94) |  |  | 1,559 |
Provision |  | — |  |  | 324 |  |  | 676 |  |  | 1,000 |
Ending balance |  | $ | 300 |  |  | $ | 3,000 |  |  | $ | 1,000 |  |  | $ | 4,300 |
Schedule of credit risk profile by internally assigned grade for loans | The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows:
|  | Term loans by origination year |  | Revolving loans |  |
(in thousands) |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving loans |  | Converted to term loans |  | Total
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 432,707 |  |  | $ | 755,056 |  |  | $ | 423,455 |  |  | $ | 113,096 |  |  | $ | 51,860 |  |  | $ | 698,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,474,528 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | 448 |  |  | 1,098 |  |  | — |  |  | — |  |  | 1,546 |
60-89 days past due |  | — |  |  | — |  |  | 268 |  |  | — |  |  | — |  |  | 90 |  |  | — |  |  | — |  |  | 358 |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | 809 |  |  | 2,396 |  |  | — |  |  | — |  |  | 3,205 |
|  | 432,707 |  |  | 755,056 |  |  | 423,723 |  |  | 113,096 |  |  | 53,117 |  |  | 701,938 |  |  | — |  |  | — |  |  | 2,479,637 |
Home equity line of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 959,131 |  |  | 40,814 |  |  | 999,945 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,103 |  |  | 209 |  |  | 1,312 |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 209 |  |  | 226 |  |  | 435 |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 587 |  |  | 626 |  |  | 1,213 |
|  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 961,030 |  |  | 41,875 |  |  | 1,002,905 |
Residential land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 5,245 |  |  | 9,010 |  |  | 5,222 |  |  | 203 |  |  | 522 |  |  | 477 |  |  | — |  |  | — |  |  | 20,679 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 5,245 |  |  | 9,010 |  |  | 5,222 |  |  | 203 |  |  | 522 |  |  | 477 |  |  | — |  |  | — |  |  | 20,679 |
Residential construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 7,986 |  |  | 11,624 |  |  | 1,178 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,788 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 7,986 |  |  | 11,624 |  |  | 1,178 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,788 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 199,574 |  |  | 21,330 |  |  | 5,543 |  |  | 7,580 |  |  | 527 |  |  | 140 |  |  | 10,810 |  |  | 4,782 |  |  | 250,286 |
30-59 days past due |  | 1,110 |  |  | 287 |  |  | 65 |  |  | 239 |  |  | 30 |  |  | — |  |  | 81 |  |  | 167 |  |  | 1,979 |
60-89 days past due |  | 756 |  |  | 163 |  |  | 88 |  |  | 137 |  |  | 19 |  |  | — |  |  | 45 |  |  | 107 |  |  | 1,315 |
Greater than 89 days past due |  | 621 |  |  | 105 |  |  | 37 |  |  | 176 |  |  | 28 |  |  | — |  |  | 20 |  |  | 142 |  |  | 1,129 |
|  | 202,061 |  |  | 21,885 |  |  | 5,733 |  |  | 8,132 |  |  | 604 |  |  | 140 |  |  | 10,956 |  |  | 5,198 |  |  | 254,709 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 390,206 |  |  | 177,130 |  |  | 283,321 |  |  | 51,542 |  |  | 63,084 |  |  | 278,280 |  |  | 8,235 |  |  | — |  |  | 1,251,798 |
Special Mention |  | — |  |  | 11,250 |  |  | 3,446 |  |  | 40,423 |  |  | — |  |  | 24,466 |  |  | — |  |  | — |  |  | 79,585 |
Substandard |  | — |  |  | — |  |  | 665 |  |  | 11,357 |  |  | — |  |  | 14,718 |  |  | — |  |  | — |  |  | 26,740 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 390,206 |  |  | 188,380 |  |  | 287,432 |  |  | 103,322 |  |  | 63,084 |  |  | 317,464 |  |  | 8,235 |  |  | — |  |  | 1,358,123 |
Commercial construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 15,094 |  |  | 47,478 |  |  | 44 |  |  | — |  |  | — |  |  | — |  |  | 25,873 |  |  | — |  |  | 88,489 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 15,094 |  |  | 47,478 |  |  | 44 |  |  | — |  |  | — |  |  | — |  |  | 25,873 |  |  | — |  |  | 88,489 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 239,852 |  |  | 185,013 |  |  | 85,220 |  |  | 68,161 |  |  | 46,142 |  |  | 53,192 |  |  | 60,871 |  |  | 13,964 |  |  | 752,415 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 2,374 |  |  | — |  |  | 645 |  |  | 9,005 |  |  | 8 |  |  | 12,032 |
Substandard |  | 3,322 |  |  | 2,305 |  |  | 401 |  |  | 1,304 |  |  | 1,346 |  |  | 3,849 |  |  | 1,664 |  |  | 1,053 |  |  | 15,244 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 243,174 |  |  | 187,318 |  |  | 85,621 |  |  | 71,839 |  |  | 47,488 |  |  | 57,686 |  |  | 71,540 |  |  | 15,025 |  |  | 779,691 |
Total loans |  | $ | 1,296,473 |  |  | $ | 1,220,751 |  |  | $ | 808,953 |  |  | $ | 296,592 |  |  | $ | 164,815 |  |  | $ | 1,077,705 |  |  | $ | 1,077,634 |  |  | $ | 62,098 |  |  | $ | 6,005,021 |
|  | Term loans by origination year |  | Revolving loans |  |
(in thousands) |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving loans |  | Converted to term loans |  | Total
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 791,758 |  |  | $ | 461,683 |  |  | $ | 133,345 |  |  | $ | 64,421 |  |  | $ | 124,994 |  |  | $ | 712,452 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,288,653 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | 809 |  |  | — |  |  | 2,210 |  |  | — |  |  | — |  |  | 3,019 |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,468 |  |  | — |  |  | — |  |  | 1,468 |
Greater than 89 days past due |  | — |  |  | — |  |  | 2,987 |  |  | — |  |  | — |  |  | 3,085 |  |  | — |  |  | — |  |  | 6,072 |
|  | 791,758 |  |  | 461,683 |  |  | 136,332 |  |  | 65,230 |  |  | 124,994 |  |  | 719,215 |  |  | — |  |  | — |  |  | 2,299,212 |
Home equity line of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 794,518 |  |  | 39,116 |  |  | 833,634 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 296 |  |  | 313 |  |  | 609 |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | 70 |  |  | 86 |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 838 |  |  | 496 |  |  | 1,334 |
|  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 795,668 |  |  | 39,995 |  |  | 835,663 |
Residential land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 10,572 |  |  | 6,794 |  |  | 1,116 |  |  | 532 |  |  | 267 |  |  | 181 |  |  | — |  |  | — |  |  | 19,462 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 397 |  |  | — |  |  | — |  |  | 397 |
|  | 10,572 |  |  | 6,794 |  |  | 1,116 |  |  | 532 |  |  | 267 |  |  | 578 |  |  | — |  |  | — |  |  | 19,859 |
Residential construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 7,856 |  |  | 3,019 |  |  | — |  |  | — |  |  | 263 |  |  | — |  |  | — |  |  | — |  |  | 11,138 |
30-59 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Greater than 89 days past due |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 7,856 |  |  | 3,019 |  |  | — |  |  | — |  |  | 263 |  |  | — |  |  | — |  |  | — |  |  | 11,138 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 37,563 |  |  | 15,488 |  |  | 29,383 |  |  | 10,897 |  |  | 302 |  |  | 238 |  |  | 12,740 |  |  | 4,157 |  |  | 110,768 |
30-59 days past due |  | 202 |  |  | 181 |  |  | 517 |  |  | 234 |  |  | 15 |  |  | — |  |  | 156 |  |  | 70 |  |  | 1,375 |
60-89 days past due |  | 59 |  |  | 127 |  |  | 392 |  |  | 183 |  |  | 8 |  |  | — |  |  | 7 |  |  | 106 |  |  | 882 |
Greater than 89 days past due |  | 14 |  |  | 93 |  |  | 387 |  |  | 192 |  |  | 27 |  |  | — |  |  | 141 |  |  | 87 |  |  | 941 |
|  | 37,838 |  |  | 15,889 |  |  | 30,679 |  |  | 11,506 |  |  | 352 |  |  | 238 |  |  | 13,044 |  |  | 4,420 |  |  | 113,966 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 173,794 |  |  | 275,242 |  |  | 49,317 |  |  | 56,490 |  |  | 33,581 |  |  | 259,583 |  |  | 11,602 |  |  | — |  |  | 859,609 |
Special Mention |  | 19,600 |  |  | 3,529 |  |  | 42,935 |  |  | 30,870 |  |  | 20,788 |  |  | 32,824 |  |  | — |  |  | — |  |  | 150,546 |
Substandard |  | — |  |  | 684 |  |  | 13,936 |  |  | 1,859 |  |  | 1,805 |  |  | 28,543 |  |  | — |  |  | — |  |  | 46,827 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 193,394 |  |  | 279,455 |  |  | 106,188 |  |  | 89,219 |  |  | 56,174 |  |  | 320,950 |  |  | 11,602 |  |  | — |  |  | 1,056,982 |
Commercial construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 17,140 |  |  | 43,261 |  |  | — |  |  | 11,342 |  |  | — |  |  | — |  |  | 19,337 |  |  | — |  |  | 91,080 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 17,140 |  |  | 43,261 |  |  | — |  |  | 11,342 |  |  | — |  |  | — |  |  | 19,337 |  |  | — |  |  | 91,080 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 266,087 |  |  | 96,963 |  |  | 79,329 |  |  | 56,497 |  |  | 31,019 |  |  | 66,570 |  |  | 96,673 |  |  | 15,510 |  |  | 708,648 |
Special Mention |  | 40 |  |  | 27,336 |  |  | 10,071 |  |  | 202 |  |  | 439 |  |  | 8,966 |  |  | 15,303 |  |  | 18 |  |  | 62,375 |
Substandard |  | 427 |  |  | 184 |  |  | 3,737 |  |  | 1,777 |  |  | 4,457 |  |  | 2,961 |  |  | 7,083 |  |  | 1,655 |  |  | 22,281 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 266,554 |  |  | 124,483 |  |  | 93,137 |  |  | 58,476 |  |  | 35,915 |  |  | 78,497 |  |  | 119,059 |  |  | 17,183 |  |  | 793,304 |
Total loans |  | $ | 1,325,112 |  |  | $ | 934,584 |  |  | $ | 367,452 |  |  | $ | 236,305 |  |  | $ | 217,965 |  |  | $ | 1,119,478 |  |  | $ | 958,710 |  |  | $ | 61,598 |  |  | $ | 5,221,204 |
Schedule of credit risk profile based on payment activity for loans | The credit risk profile based on payment activity for loans was as follows:
(in thousands) | 30-59 days past due |  | 60-89 days past due |  | Greater than 90 days |  | Total past due |  | Current |  | Total financing receivables |  | Recorded investment> 90 days and accruing
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family | $ | 1,546 |  |  | $ | 358 |  |  | $ | 3,205 |  |  | $ | 5,109 |  |  | $ | 2,474,528 |  |  | $ | 2,479,637 |  |  | $ | — |
Commercial real estate | 508 |  |  | 217 |  |  | — |  |  | 725 |  |  | 1,357,398 |  |  | 1,358,123 |  |  | — |
Home equity line of credit | 1,312 |  |  | 435 |  |  | 1,213 |  |  | 2,960 |  |  | 999,945 |  |  | 1,002,905 |  |  | — |
Residential land | — |  |  | — |  |  | — |  |  | — |  |  | 20,679 |  |  | 20,679 |  |  | — |
Commercial construction | — |  |  | — |  |  | — |  |  | — |  |  | 88,489 |  |  | 88,489 |  |  | — |
Residential construction | — |  |  | — |  |  | — |  |  | — |  |  | 20,788 |  |  | 20,788 |  |  | — |
Commercial | 614 |  |  | 18 |  |  | 77 |  |  | 709 |  |  | 778,982 |  |  | 779,691 |  |  | — |
Consumer | 1,979 |  |  | 1,315 |  |  | 1,129 |  |  | 4,423 |  |  | 250,286 |  |  | 254,709 |  |  | — |
Total loans | $ | 5,959 |  |  | $ | 2,343 |  |  | $ | 5,624 |  |  | $ | 13,926 |  |  | $ | 5,991,095 |  |  | $ | 6,005,021 |  |  | $ | — |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family | $ | 3,019 |  |  | $ | 1,468 |  |  | $ | 6,072 |  |  | $ | 10,559 |  |  | $ | 2,288,653 |  |  | $ | 2,299,212 |  |  | $ | — |
Commercial real estate | — |  |  | — |  |  | — |  |  | — |  |  | 1,056,982 |  |  | 1,056,982 |  |  | — |
Home equity line of credit | 609 |  |  | 86 |  |  | 1,334 |  |  | 2,029 |  |  | 833,634 |  |  | 835,663 |  |  | — |
Residential land | — |  |  | — |  |  | 397 |  |  | 397 |  |  | 19,462 |  |  | 19,859 |  |  | — |
Commercial construction | — |  |  | — |  |  | — |  |  | — |  |  | 91,080 |  |  | 91,080 |  |  | — |
Residential construction | — |  |  | — |  |  | — |  |  | — |  |  | 11,138 |  |  | 11,138 |  |  | — |
Commercial | 700 |  |  | 313 |  |  | 48 |  |  | 1,061 |  |  | 792,243 |  |  | 793,304 |  |  | — |
Consumer | 1,375 |  |  | 882 |  |  | 941 |  |  | 3,198 |  |  | 110,768 |  |  | 113,966 |  |  | — |
Total loans | $ | 5,703 |  |  | $ | 2,749 |  |  | $ | 8,792 |  |  | $ | 17,244 |  |  | $ | 5,203,960 |  |  | $ | 5,221,204 |  |  | $ | — |
Schedule of credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due | The credit risk profile based on nonaccrual loans were as follows:
| December 31, 2022 |  | December 31, 2021
(in thousands) | With a related ACL |  | Without a related ACL |  | Total |  | With a related ACL |  | Without a related ACL |  | Total
Real estate: |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family | $ | 4,198 |  |  | $ | 2,981 |  |  | $ | 7,179 |  |  | $ | 16,045 |  |  | $ | 3,703 |  |  | $ | 19,748 |
Commercial real estate | — |  |  | — |  |  | — |  |  | 14,104 |  |  | 1,221 |  |  | 15,325 |
Home equity line of credit | 3,654 |  |  | 1,442 |  |  | 5,096 |  |  | 4,227 |  |  | 1,294 |  |  | 5,521 |
Residential land | 420 |  |  | — |  |  | 420 |  |  | 97 |  |  | 300 |  |  | 397 |
Commercial construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial | 2,183 |  |  | — |  |  | 2,183 |  |  | 1,446 |  |  | 692 |  |  | 2,138 |
Consumer | 1,588 |  |  | — |  |  | 1,588 |  |  | 1,845 |  |  | — |  |  | 1,845 |
Total | $ | 12,043 |  |  | $ | 4,423 |  |  | $ | 16,466 |  |  | $ | 37,764 |  |  | $ | 7,210 |  |  | $ | 44,974 |
The credit risk profile based on loans whose terms have been modified and accruing interest were as follows:
(in thousands) | December 31, 2022 |  | December 31, 2021
Real estate: |  |  |
Residential 1-4 family | $ | 8,821 |  |  | $ | 6,949 |
Commercial real estate | 9,477 |  |  | 3,055 |
Home equity line of credit | 4,404 |  |  | 6,021 |
Residential land | 782 |  |  | 980 |
Commercial construction | — |  |  | — |
Residential construction | — |  |  | — |
Commercial | 6,596 |  |  | 7,860 |
Consumer | 50 |  |  | 52 |
Total troubled debt restructured loans accruing interest | $ | 30,130 |  |  | $ | 24,917 |
Schedule of loan modifications | Loan modifications that occurred during 2022, 2021, and 2020 were as follows:
(dollars in thousands) | Number of contracts |  | Outstanding recorded investment (as of period end)1 |  | Related allowance (as of period end)
Year ended December 31, 2022 |  |  |  |  |
Real estate: |  |  |  |  |
Residential 1-4 family | 5 |  |  | $ | 1,475 |  |  | $ | 164 |
Commercial real estate | — |  |  | — |  |  | — |
Home equity line of credit | — |  |  | — |  |  | — |
Residential land | 1 |  |  | 203 |  |  | 42 |
Commercial construction | — |  |  | — |  |  | — |
Residential construction | — |  |  | — |  |  | — |
Commercial | 3 |  |  | 2,634 |  |  | 497 |
Consumer | — |  |  | — |  |  | — |
| 9 |  |  | $ | 4,312 |  |  | $ | 703 |
Year ended December 31, 2021 |  |  |  |  |
Real estate: |  |  |  |  |
Residential 1-4 family | 14 |  |  | $ | 8,379 |  |  | $ | 442 |
Commercial real estate | — |  |  | — |  |  | — |
Home equity line of credit | — |  |  | — |  |  | — |
Residential land | 3 |  |  | 799 |  |  | 38 |
Commercial construction | — |  |  | — |  |  | — |
Residential construction | — |  |  | — |  |  | — |
Commercial | 7 |  |  | 2,931 |  |  | 205 |
Consumer | — |  |  | — |  |  | — |
| 24 |  |  | $ | 12,109 |  |  | $ | 685 |
Year ended December 31, 2020 |  |  |  |  |
Real estate: |  |  |  |  |
Residential 1-4 family | 1 |  |  | $ | 144 |  |  | $ | 6 |
Commercial real estate | 6 |  |  | 20,714 |  |  | 4,439 |
Home equity line of credit | 3 |  |  | 85 |  |  | 11 |
Residential land | 4 |  |  | 668 |  |  | 54 |
Commercial construction | — |  |  | — |  |  | — |
Residential construction | — |  |  | — |  |  | — |
Commercial | 54 |  |  | 5,380 |  |  | 869 |
Consumer | — |  |  | — |  |  | — |
| 68 |  |  | $ | 26,991 |  |  | $ | 5,379 |
1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included.
Schedule of loans modified in TDRS that experienced a payment default of 90 days or more, and for which payment default occurred within one year of the modification | Loans modified in TDRs that experienced a payment default of 90 days or more in 2022, 2021, and 2020 and for which the payment default occurred within one year of the modification, were as follows:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(dollars in thousands) | Number of contracts |  | Recorded investment |  | Number of contracts |  | Recorded investment |  | Number of contracts |  | Recorded investment
Troubled debt restructurings that subsequently defaulted |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |
Residential 1-4 family | — |  |  | $ | — |  |  | 1 |  |  | $ | 474 |  |  | — |  |  | $ | — |
Commercial real estate | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Home equity line of credit | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial | — |  |  | — |  |  | 1 |  |  | 9 |  |  | — |  |  | — |
Consumer | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| — |  |  | $ | — |  |  | 2 |  |  | $ | 483 |  |  | — |  |  | $ | — |
Schedule of amortized intangible assets | Changes in the carrying value of MSRs were as follows:
(in thousands) | Gross carrying amount |  | Accumulated amortization |  | Valuation allowance |  | Net carrying amount
December 31, 2022 | $ | 19,544 |  |  | $ | (10,497) |  |  | $ | — |  |  | $ | 9,047 |
December 31, 2021 | $ | 18,674 |  |  | $ | (8,724) |  |  | $ | — |  |  | $ | 9,950 |
Changes related to MSRs were as follows:
(in thousands) | 2022 |  | 2021 |  | 2020
Mortgage servicing rights |  |  |  |  |
Balance, January 1 | $ | 9,950 |  |  | $ | 10,280 |  |  | $ | 9,101 |
Amount capitalized | 1,130 |  |  | 3,404 |  |  | 5,096 |
Amortization | (2,033) |  |  | (3,734) |  |  | (3,917) |
Sale of mortgage servicing rights | — |  |  | — |  |  | — |
Other-than-temporary impairment | — |  |  | — |  |  | — |
Carrying amount before valuation allowance, December 31 | 9,047 |  |  | 9,950 |  |  | 10,280 |
Valuation allowance for mortgage servicing rights |  |  |  |  |
Balance, January 1 | — |  |  | 260 |  |  | — |
Provision | — |  |  | (260) |  |  | 260 |
Other-than-temporary impairment | — |  |  | — |  |  | — |
Balance, December 31 | — |  |  | — |  |  | 260 |
Net carrying value of mortgage servicing rights | $ | 9,047 |  |  | $ | 9,950 |  |  | $ | 10,020 |
Schedule of key assumptions used in estimating fair value | Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows:
December 31 | 2022 |  | 2021
(dollars in thousands) |  |  |
Unpaid principal balance | $ | 1,451,322 |  |  | $ | 1,481,899 |
Weighted average note rate | 3.38 | % |  | 3.38 | %
Weighted average discount rate | 10.00 | % |  | 9.25 | %
Weighted average prepayment speed | 6.56 | % |  | 9.77 | %
Schedule of sensitivity analysis of fair value of MSR to hypothetical adverse changes | The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows:
December 31 | 2022 |  | 2021
(in thousands) |  |  |
Prepayment rate: |  |  |
25 basis points adverse rate change | $ | (92) |  |  | $ | (714) |
50 basis points adverse rate change | (214) |  |  | (1,608) |
Discount rate: |  |  |
25 basis points adverse rate change | (182) |  |  | (129) |
50 basis points adverse rate change | (361) |  |  | (256) |
Schedule of deposit liabilities | The summarized components of deposit liabilities were as follows:
December 31 | 2022 |  | 2021
(dollars in thousands) | Weighted-average stated rate |  | Amount |  | Weighted-average stated rate |  | Amount
Savings | 0.03 | % |  | $ | 3,198,329 |  |  | 0.03 | % |  | $ | 3,234,646 |
Checking |  |  |  |  |  |  |
Interest-bearing | 0.17 |  |  | 1,359,519 |  |  | 0.02 |  |  | 1,344,049 |
Noninterest-bearing | — |  |  | 1,453,937 |  |  | — |  |  | 1,472,727 |
Commercial checking | — |  |  | 1,357,140 |  |  | — |  |  | 1,503,905 |
Money market | 0.82 |  |  | 189,053 |  |  | 0.06 |  |  | 192,909 |
Time certificates | 2.39 |  |  | 611,718 |  |  | 0.67 |  |  | 423,976 |
| 0.24 | % |  | $ | 8,169,696 |  |  | 0.05 | % |  | $ | 8,172,212 |
Schedule of maturities of term certificates | The approximate scheduled maturities of time certificates outstanding at December 31, 2022 were as follows:
(in thousands) |
2023 | $ | 495,577 |
2024 | 59,493 |
2025 | 34,360 |
2026 | 11,224 |
2027 | 8,327 |
Thereafter | 2,737 |
| $ | 611,718 |
Schedule of interest expense on deposit liabilities by type | Interest expense on deposit liabilities by type of deposit was as follows:
Years ended December 31 | 2022 |  | 2021 |  | 2020
(in thousands) |  |  |  |  |
Time certificates | $ | 5,372 |  |  | $ | 3,805 |  |  | $ | 7,944 |
Savings | 860 |  |  | 802 |  |  | 1,774 |
Money market | 330 |  |  | 132 |  |  | 465 |
Interest-bearing checking | 765 |  |  | 242 |  |  | 471 |
| $ | 7,327 |  |  | $ | 4,981 |  |  | $ | 10,654 |
Schedule of securities sold under agreements to repurchase, which provided for repurchase of identical securities | Information concerning securities sold under agreements to repurchase, which provided for the repurchase of identical securities, was as follows:
(dollars in thousands) | 2022 |  | 2021 |  | 2020
Amount outstanding as of December 31 | $ | 281,120 |  |  | $ | 88,305 |  |  | $ | 89,670 |
Average amount outstanding during the year | 127,170 |  |  | 88,405 |  |  | 73,738 |
Maximum amount outstanding as of any month-end | 284,040 |  |  | 129,665 |  |  | 100,580 |
Weighted-average interest rate as of December 31 | 3.02 | % |  | 0.02 | % |  | 0.02 | %
Weighted-average interest rate during the year | 0.99 | % |  | 0.02 | % |  | 0.42 | %
Weighted-average remaining days to maturity as of December 31 | 1 |  | 1 |  | 1
Schedule of securities sold under agreements to repurchase | The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties:
(in millions) |  | Gross amount of recognized liabilities |  | Gross amount offset in the Balance Sheets |  | Net amount of liabilities presented in the Balance Sheets
Repurchase agreements |  |  |  |  |  |
December 31, 2022 |  | $ | 281 |  |  | $ | — |  |  | $ | 281 |
December 31, 2021 |  | 88 |  |  | — |  |  | 88 |
|  | Gross amount not offset in the Balance Sheets
(in millions) |  | Net amount of liabilities presented in the Balance Sheets |  | Financial instruments |  | Cash collateral pledged
Commercial account holders |  |  |  |  |  |
December 31, 2022 |  | $ | 281 |  |  | $ | 327 |  |  | $ | — |
December 31, 2021 |  | 88 |  |  | 161 |  |  | — |
Securities sold under agreements to repurchase were summarized as follows:
December 31 | 2022 |  | 2021
Maturity | Repurchase liability |  | Weighted-average interest rate |  | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest |  | Repurchase liability |  | Weighted-average interest rate |  | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
Overnight | $ | 281,120 |  |  | 3.02 | % |  | $ | 326,841 |  |  | $ | 88,305 |  |  | 0.02 | % |  | $ | 160,847 |
1 to 29 days | — |  |  | — | % |  | — |  |  | — |  |  | — | % |  | — |
30 to 90 days | — |  |  | — | % |  | — |  |  | — |  |  | — | % |  | — |
Over 90 days | — |  |  | — | % |  | — |  |  | — |  |  | — | % |  | — |
| $ | 281,120 |  |  | 3.02 | % |  | $ | 326,841 |  |  | $ | 88,305 |  |  | 0.02 | % |  | $ | 160,847 |
Schedule of actual and minimum required capital amounts and ratios | The tables below set forth actual and minimum required capital amounts and ratios:
| Actual |  | Minimum required |  | Required to be well capitalized
(dollars in thousands) | Capital |  | Ratio |  | Capital |  | Ratio |  | Capital |  | Ratio
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Tier 1 leverage | $ | 750,851 |  |  | 7.78 | % |  | $ | 386,265 |  |  | 4.00 | % |  | $ | 482,831 |  |  | 5.00 | %
Common equity tier 1 | 750,851 |  |  | 12.15 | % |  | 278,076 |  |  | 4.50 | % |  | 401,665 |  |  | 6.50 | %
Tier 1 capital | 750,851 |  |  | 12.15 | % |  | 370,767 |  |  | 6.00 | % |  | 494,356 |  |  | 8.00 | %
Total capital | 811,729 |  |  | 13.14 | % |  | 494,356 |  |  | 8.00 | % |  | 617,946 |  |  | 10.00 | %
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Tier 1 leverage | 714,789 |  |  | 7.86 | % |  | 363,630 |  |  | 4.00 | % |  | 454,538 |  |  | 5.00 | %
Common equity tier 1 | 714,789 |  |  | 13.29 | % |  | 242,072 |  |  | 4.50 | % |  | 349,659 |  |  | 6.50 | %
Tier 1 capital | 714,789 |  |  | 13.29 | % |  | 322,762 |  |  | 6.00 | % |  | 430,350 |  |  | 8.00 | %
Total capital | 769,836 |  |  | 14.31 | % |  | 430,350 |  |  | 8.00 | % |  | 537,937 |  |  | 10.00 | %
Schedule of notional amounts and fair value of derivatives | The notional amount and fair value of ASB’s derivative financial instruments were as follows:
December 31 | 2022 |  | 2021
(in thousands) | Notional amount |  | Fair value |  | Notional amount |  | Fair value
Interest rate lock commitments | $ | 1,720 |  |  | $ | 9 |  |  | $ | 39,377 |  |  | $ | 638 |
Forward commitments | 1,500 |  |  | 18 |  |  | 38,000 |  |  | (11) |
Schedule of derivative financial instruments, fair values, and balance sheet location | ASB’s derivative financial instruments, their fair values, and balance sheet location were as follows:
Derivative Financial Instruments Not Designated |  |  |  |  |  |  |
as Hedging Instruments 1 |  |  |  |  |  |  |
December 31 | 2022 |  | 2021
(in thousands) | Asset derivatives |  | Liability derivatives |  | Asset derivatives |  | Liability derivatives
Interest rate lock commitments | $ | 9 |  |  | $ | — |  |  | $ | 638 |  |  | $ | — |
Forward commitments | 18 |  |  | — |  |  | — |  |  | 11 |
| $ | 27 |  |  | $ | — |  |  | $ | 638 |  |  | $ | 11 |
1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of derivative financial instruments and amount and location of net gains or losses | The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income:
Derivative Financial Instruments Not Designated | Location of net gains |  |  |  |  |  |
as Hedging Instruments | (losses) recognized in |  | Years ended December 31
(in thousands) | the Statements of Income |  | 2022 |  | 2021 |  | 2020
Interest rate lock commitments | Mortgage banking income |  | $ | (629) |  |  | $ | (3,898) |  |  | $ | 4,239 |
Forward commitments | Mortgage banking income |  | 29 |  |  | 489 |  |  | (458) |
|  |  | $ | (600) |  |  | $ | (3,409) |  |  | $ | 3,781 |
Schedule of off balance sheet arrangements | The following is a summary of outstanding off-balance sheet arrangements:
December 31 | 2022 |  | 2021
(in thousands) |  |  |
Unfunded commitments to extend credit: |  |  |
Home equity line of credit | $ | 1,264,320 |  |  | $ | 1,181,496 |
Commercial and commercial real estate | 692,989 |  |  | 612,158 |
Consumer | 85,768 |  |  | 62,090 |
Residential 1-4 family | 20,546 |  |  | 44,262 |
Commercial and financial standby letters of credit | 15,521 |  |  | 11,723 |
Total | $ | 2,079,144 |  |  | $ | 1,911,729 |

X
- Definition Bank Segment Disclosure [Abstract] + References No definition available. + Details
Name: | he_BankSegmentDisclosureAbstract
Namespace Prefix: | he_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Off Balance Sheet Credit Loss Liability + References No definition available. + Details
Name: | he_OffBalanceSheetCreditLossLiabilityTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities or other assets sold under repurchase agreements when this amount exceeds 10 percent of total assets. Disclosure may include the following: the type of securities or assets sold under agreements to repurchase, the carrying amount, market value (including accrued interest plus any cash or other assets on deposit. The information is segregated into securities maturing (1) overnight; (2) term up to 30 days; (3) term of 30 to 90 days; (4) term over 90 days; (5) demand. + References No definition available. + Details
Name: | he_ScheduleOfAssetsSoldUnderAgreementsToRepurchaseOtherBorrowingsTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities sold under agreements to repurchase, which provided for the repurchase of identical securities. + References No definition available. + Details
Name: | he_ScheduleOfAssetsSoldUnderAgreementsToRepurchaseRepurchaseOfIdenticalSecuritiesTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of deposited liabilities. + References No definition available. + Details
Name: | he_ScheduleOfDepositLiabilitiesDisclosuresTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of deposited liabilities interest expense by type. + References No definition available. + Details
Name: | he_ScheduleOfDepositLiabilitiesInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Maturities of Term Certificates [Table Text Block] + References No definition available. + Details
Name: | he_ScheduleofMaturitiesofTermCertificatesTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables and troubled debt restructurings that experienced payment default of 90 days or more, and for which the payment default occurred within one year of the modification. + References No definition available. + Details
Name: | he_TroubledDebtRestructuringsOnFinancingReceivablesThatExperiencedPaymentDefaultTableTextBlock
Namespace Prefix: | he_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details
Name: | us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13433-108611 + Details
Name: | us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919258-210447 + Details
Name: | us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
Name: | us-gaap_ScheduleOfSensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524 + Details
Name: | us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration