East West Bancorp(US:EWBC)2025-01-24 00:41Financial Performance Highlights - The company reported net income available to common equity of $1.166 billion in 2024, with diluted earnings per share of $8.33[8] - In the fourth quarter of 2024, net income available to common equity was $293 million, with diluted earnings per share of $2.10[8] - Record full-year fee income reached $310 million[8] Deposit and Loan Growth - Average deposits grew by 9% year-over-year, with end-of-period deposit growth at 13%[8] - Average loans increased by 6% year-over-year, while end-of-period loan growth was 3%[8] - Noninterest-bearing demand deposits are growing again[10] Asset Quality - The full-year net charge-offs were 26 basis points[8] - Nonperforming asset levels remained stable at 26 basis points[8] - Criticized loans increased by 10 basis points to 2.18%[8] - Allowance for loan losses (ALLL) was steady at 1.31%[8] Net Interest Income and Margin - Net interest income (NII) decreased by 1% year-over-year but increased by 3% quarter-over-quarter[8] - The net interest margin (NIM) was resilient at 3.27% for the full year and 3.24% for the fourth quarter[8] - The company saw a 49 basis point decrease in the second half of the year in interest-bearing deposit costs[23] Capital and Shareholder Value - Book value per share increased by 12% year-over-year, with a full-year return on average common equity (ROACE) of 16% and a return on average tangible common equity (ROTCE) of 17%[9] - Approximately 200,000 shares were repurchased at an average price under $98 per share[9] - The quarterly dividend was raised by 9%[9] 2025 Outlook - The company anticipates loan growth in the range of 4% to 6% year-over-year[48] - Net interest income is expected to grow in the range of 4% to 6% year-over-year[48] - Total revenue is projected to increase by 5% to 7% year-over-year[48] - Total operating noninterest expense is expected to grow by 7% to 9% year-over-year[48] - Net charge-offs are projected to be in the range of 25 to 35 basis points[48]