HONOLULU (KHON2) -- Hundreds of American Savings Bank employees gathered in Downtown Honolulu on Wednesday, Jan. 8 to commemorate 100 years of serving the Hawaiian Islands. Get Hawaii's latest morning news delivered to your inbox, sign up for News 2 You In 1925, ASB started off as "American Building and Loan" and was granted permission by the territory of Hawaii to establish its first branch in Honolulu. Preliminary report released for fatal Kamaka Air crash Lt. Gov. Sylvia Luke and Honolulu Mayor Rick Blangiardi joined the celebration, presenting proclamations to honor ASB's service to the Hawaii community. "It's a huge milestone. There are not very many organizations in Hawaii that can claim 100 years of serving and really being of service to the Hawaii community so we're ecstatic. I think you saw your teammates out here earlier and so very proud to continue to be a strong community bank here for our community," said Ann Teranishi, ASB CEO. The milestone was celebrated at the ASB campus, where officials announced its new ASB Charitable Foundation and presented a $100,000 donation to local nonprofits, reaffirming its commitment to bringing a real impact to the community. Donations will be given to community impact areas including financial wellness, increasing access to affordable housing and supporting Aala Park and its neighboring communities. Check out more news from around Hawaii The public will have the opportunity to help select which 10 nonprofits will receive the $10,000 awards in February. More information and updates can be found on ASB's website.