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Territorial Bank of American Samoa

TBAS BUILDING
Pago Pago, AMERICAN SAMOA — The Territorial Bank of American Samoa (TBAS) has published its audited financial statements for fiscal year 2022, revealing a solid performance despite a delay that caused the Government's audit to be qualified. Although the bank's financial statements were not included...
AG Fainuulelei Falefatu Alailima-Utu and Sen Togiola Tulafono
Pago Pago, AMERICAN SAMOA — The Senate passed in third reading last week an administration bill which amends the government deposit requirements to meet the Federal Deposit Insurance Corporation (FDIC) regulatory rules for deposit of all government funds. The final vote was 13-1. The amendment...
Ruth Matagi during her confirmation hearing for TBAS board
Pago Pago, AMERICAN SAMOA — The governor’s nomination of Ruth Matagi as member of the Territorial Bank of American Samoa’s Board of Directors was approved by the Senate last Wednesday in a vote of 14-1. During her confirmation hearing, Senator Poumele Pete Poumele advised her that if she is...
TBAS BUILDING WITH LOGO
Pago Pago, AMERICAN SAMOA — A man while working as a teller for the Territorial Bank of American Samoa (TBAS) has been arrested and charged for allegedly stealing money from a business customer’s bank account by writing counter checks on the account and withdrawing more than $20,000. Counter checks...
Tuasivi John Marsh
Pago Pago, AMERICAN SAMOA — Commissioner of the Office of Financial Institutions, Tuasivi John Marsh, said he “sees no reason to sell the Territorial Bank of American Samoa” during a House hearing on October 4, 2023, when he testified on administrative bill 38.6, which seeks to amend the enabling...
Rep. Larry Sanitoa
Pago Pago, AMERICAN SAMOA — Further queries that were raised during a hearing on the Territorial Bank of American Samoa (TBAS) included long lines at the ATMs, the FDIC issue and the bank’s audited financials. They were among the issues discussed when Acting CEO of TBAS, Owen Peery and Director of...
TBAS BUILDING WITH LOGO
Pago Pago, AMERICAN SAMOA — Acting CEO of the Territorial Bank of American Samoa, Owen Peery and Director of the Office of Financial Institutions Tuasivi John Marsh were called to the House of Representatives on Monday, October 2, 2023 to provide an update on issues at TBAS.  Members of the...
TBAS BUILDING WITH LOGO
Pago Pago, AMERICAN SAMOA — Governor Lemanu P. S. Mauga is acknowledging that The Territorial Bank of American Samoa (TBAS) Board of Directors has voted against removing TBAS CEO David Buehler.  And while Lemanu is now turning his focus to the Office of Financial (OFI) Institutions to fully remedy...
Gov. Lemanu P.S. Mauga
Pago Pago, AMERICAN SAMOA — In a letter dated June 7, 2023, Governor Lemanu P. S. Mauga called on the Territorial Bank of American Samoa (TBAS) Board of Directors and the Office of Financial Institutions to take action to address the failure of leadership at TBAS that caused the bank to be unable...
 David Buehler and Tuasivi John Marsh
Pago Pago, AMERICAN SAMOA — With the governor lifting the temporary suspension of government directors, agency heads and all Administration employees on testifying at House hearings, faipule resumed committee hearings on Wednesday, April 12, and summoned the Territorial Bank of American Samoa (TBAS...

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