EAST WEST BANCORP INC

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

EWBC$130.97+1.7%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statement of Income

($ and shares in thousands, except per share data)

	Year Ended December 31,
	2023	2022	2021
INTEREST AND DIVIDEND INCOME
Loans receivable, including fees	$3,172,746	$2,048,301	$1,424,900
Debt securities	276,190	198,906	143,983
Resale agreements	20,164	29,767	32,239
Restricted equity securities	4,062	3,144	2,081
Interest-bearing cash and deposits with banks	220,643	41,113	15,531
Total interest and dividend income	3,693,805	2,321,231	1,618,734
INTEREST EXPENSE
Deposits	1,205,550	251,838	69,159
Federal funds purchased and other short-term borrowings	157,002	1,801	42
Federal Home Loan Bank (“FHLB”) advances	6,430	1,754	6,881
Repurchase agreements	1,497	14,362	7,999
Long-term debt and finance lease liabilities	11,072	5,595	3,082
Total interest expense	1,381,551	275,350	87,163
Net interest income before provision for (reversal of) credit losses	2,312,254	2,045,881	1,531,571
Provision for (reversal of) credit losses	125,000	73,500	(35,000)
Net interest income after provision for (reversal of) credit losses	2,187,254	1,972,381	1,566,571
NONINTEREST INCOME
Lending fees	83,876	79,208	77,704
Deposit account fees	89,606	88,435	71,261
Customer derivative income	20,200	29,057	22,913
Foreign exchange income	52,481	48,158	48,977
Wealth management fees	26,805	27,565	25,751
Net gains on sales of loans	3,634	6,411	8,909
Net (losses) gains on AFS debt securities	(6,862)	1,306	1,568
Other investment income	9,348	7,037	16,852
Other income	16,176	11,489	11,960
Total noninterest income	295,264	298,666	285,895
NONINTEREST EXPENSE
Compensation and employee benefits	508,538	477,635	433,728
Occupancy and equipment expense	62,763	62,501	62,996
Deposit insurance premiums and regulatory assessments	103,308	19,449	17,563
Deposit account expense	43,143	25,508	16,152
Computer software and data processing expenses	44,475	42,776	46,863
Other operating expense	140,222	118,166	96,330
Amortization of tax credit and other investments	120,299	113,358	122,457
Total noninterest expense	1,022,748	859,393	796,089
INCOME BEFORE INCOME TAXES	1,459,770	1,411,654	1,056,377
INCOME TAX EXPENSE	298,609	283,571	183,396
NET INCOME	$1,161,161	$1,128,083	$872,981
EARNINGS PER SHARE (“EPS”)
BASIC	$8.23	$7.98	$6.16
DILUTED	$8.18	$7.92	$6.10
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING
BASIC	141,164	141,326	141,826
DILUTED	141,902	142,492	143,140

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