PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), announced today that Christopher Del Moral-Niles, Chief Financial Officer, will present at the Bank of America 2024 Financial Services Conference on Thursday, February 22nd, 2024, at 10:30 a.m. Eastern Time in Miami, Florida. He will also participate in a fireside chat at the UBS 2024 Financial Services Conference on Monday, February 26th, 2024, at 9:40 a.m. Eastern Time in Miami, Florida. Mr. Del Mora ...

East West Bancorp’s (EWBC) fourth-quarter 2023 adjusted earnings per share of $2.02 surpassed the Zacks Consensus Estimate of $1.89. However, the bottom line declined 14.8% from the prior-year quarter.Including FDIC special assessment-related expenses and gain on the sale of an available-for-sale debt security, earnings per share were $1.69.Results were primarily aided by an increase in non-interest income. Also, loan balances increased sequentially in the quarter, which was a positive. However, lower net i ...

Financial Data and Key Metrics Changes - The company reported an 18% year-over-year growth in tangible book value per share in 2023 [1] - Fourth quarter net income was $239 million, with an adjusted EPS of $2.02 excluding one-time charges [49] - The annual net charge-offs to average loans were just 9 basis points, and the non-performing assets to total asset ratio was 16 basis points at year-end [47][73] Business Line Data and Key Metrics Changes - Total average loans grew by 9% for the year, driven by strong residential mortgage and commercial real estate platforms [50] - Residential mortgage originations were $3.5 billion in 2023, with expectations for continued strength in this area [51] - Average commercial real estate (CRE) balances grew, particularly in multifamily and industrial property lending, while office loans declined [51] Market Data and Key Metrics Changes - The company added $1 billion in customer deposits in each of the last two quarters, totaling 40,000 new deposit accounts over the year [46] - The average cost of deposits for Q4 was 260 basis points, up 17 basis points from the previous quarter [68] - Non-interest-bearing demand accounts are expected to trend around 27% to 28% as a benchmark for future growth [33] Company Strategy and Development Direction - The company aims to focus on driving core deposit growth and maintaining strong capital levels, with a CET1 capital ratio of 13.3% [75] - A 15% increase in the quarterly common stock dividend to $0.55 per share was announced, reflecting confidence in earnings stability [48][76] - The company plans to continue diversifying its loan portfolio while managing credit risks proactively [72][114] Management's Comments on Operating Environment and Future Outlook - Management anticipates a softening economy in 2024, with loan growth expected to be in the range of 3% to 5% [88] - Net interest income is projected to decline by 4% to 6% due to expected rate cuts [88] - The company remains optimistic about its operational ability to reprice non-time deposits in a falling rate environment [68] Other Important Information - The company repurchased 1.5 million shares of common stock for $82 million during Q4 2023 [76] - The allowance for loan losses increased by $13 million quarter-over-quarter, reflecting net loan growth [74] Q&A Session Summary Question: What is the outlook for net interest income (NII) given the expected rate cuts? - Management indicated that NII would perform better if fewer rate cuts occur than projected, and proactive measures are being taken to manage rate sensitivity [110] Question: How does the company view the competitive landscape in 2024? - The company sees a marginally better competitive landscape due to disruptions in the banking sector and plans to continue recruiting talent selectively [112][113] Question: What is the expected loan-to-deposit ratio moving forward? - The company expects to operate in the lower 90% range for the loan-to-deposit ratio and plans to migrate towards a more high-quality liquid asset (HQLA) profile [102]

For the quarter ended December 2023, East West Bancorp (EWBC) reported revenue of $654.74 million, down 2.3% over the same period last year. EPS came in at $2.02, compared to $2.37 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $642.61 million, representing a surprise of +1.89%. The company delivered an EPS surprise of +6.88%, with the consensus EPS estimate being $1.89.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

East West Bancorp (EWBC) came out with quarterly earnings of $2.02 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $2.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.88%. A quarter ago, it was expected that this bank holding company would post earnings of $2.01 per share when it actually produced earnings of $2.02, delivering a surprise of 0.50%.Over the last four quarters, ...

PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported its financial results for the full year and fourth quarter of 2023. Full year 2023 net income was $1.2 billion, or $8.18 per diluted share. Excluding $70 million pre-tax of FDIC Special Assessment-related expense (the “FDIC charge”) and $7 million of net losses on an AFS debt security, adjusted diluted earnings per share1 for the year were $8.56. Fourth quar ...

The market expects East West Bancorp (EWBC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be re ...

PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), announced plans to host conference calls to review financial results on the following dates: Financial Period Earnings Release Date Conference Call Time Fourth Quarter and Full Year 2023 Tuesday, January 23, 2024 2 p.m. PT/5 p.m. ET First Quarter 2024 Tuesday, April 23, 2024 2 p.m. PT/5 p.m. ET The financial results are scheduled to be released after the market closes ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 95-4703316 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 EAST WEST BANCORP, INC. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to For the quarterly period ended June 30, 2023 Commission file number 000-24939 or Yes ☒ No ☐ 95-4703316 Securities registered pursuant to Section 12(b) of the Act: (Exact name of registrant as ...