EAST WEST BANCORP INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
EWBC$130.74-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $1,161,161 | $1,128,083 | $872,981 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for (reversal of) credit losses | 125,000 | 73,500 | (35,000) |
| Depreciation and amortization | 163,460 | 159,851 | 156,792 |
| Accretion of discount and (amortization of premiums), net | 10,723 | 56,703 | 67,415 |
| Stock compensation costs | 39,867 | 37,601 | 32,567 |
| Deferred income tax (benefit) expense | (49,139) | (43,988) | 4,762 |
| 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) |
| Net gains on sales of other real estate owned ("OREO") and other foreclosed assets | (3,451) | (3,042) | (1,977) |
| Impairment on OREO and other foreclosed assets | — | 6,861 | 5,151 |
| Loans held-for-sale: | |||
| Originations and purchases | (116) | (447) | (11,155) |
| Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale | — | 461 | 12,552 |
| Proceeds from distributions received from equity method investees | 11,282 | 7,586 | 13,117 |
| Net change in accrued interest receivable and other assets | (146,270) | 187,512 | 124,496 |
| Net change in accrued expenses and other liabilities | 105,304 | 461,385 | (63,360) |
| Other operating activities, net | 3,860 | 1,673 | 558 |
| Total adjustments | 263,748 | 937,939 | 295,441 |
| Net cash provided by operating activities | 1,424,909 | 2,066,022 | 1,168,422 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Net (increase) decrease in: | |||
| Investments in qualified affordable housing partnerships, tax credit and other investments | (228,550) | (167,303) | (189,836) |
| Interest-bearing deposits with banks | 128,523 | 596,994 | 73,263 |
| Resale agreements: | |||
| Proceeds from paydowns and maturities | 219,917 | 1,951,388 | 982,694 |
| Purchases | (212,725) | (390,077) | (1,876,197) |
| AFS debt securities: | |||
| Proceeds from sales | 3,138 | 129,181 | 308,812 |
| Proceeds from repayments, maturities and redemptions | 1,470,819 | 896,726 | 1,766,184 |
| Purchases | (1,549,846) | (1,070,608) | (6,779,655) |
| HTM debt securities: | |||
| Proceeds from repayments, maturities and redemptions | 61,744 | 75,635 | — |
| Purchases | — | (50,000) | — |
| Loans held-for-investment: | |||
| Proceeds from sales of loans originally classified as held-for-investment | 711,862 | 602,725 | 606,410 |
| Purchases | (600,930) | (657,620) | (1,045,456) |
| Other changes in loans held-for-investment, net | (4,166,572) | (6,516,182) | (2,877,438) |
| Proceeds from sales of OREO and other foreclosed assets | 3,721 | 6,482 | 54,338 |
| Purchase of bank-owned life insurance | — | (734) | (150,000) |
| Distributions received from equity method investees | 23,774 | 18,221 | 14,440 |
| Other investing activities, net | (112,036) | (7,720) | (4,763) |
| Net cash used in investing activities | (4,247,161) | (4,582,892) | (9,117,204) |
CONSOLIDATED STATEMENT OF CASH FLOWS
(Continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Net increase in deposits | 144,468 | 2,709,427 | 8,464,285 |
| Net increase (decrease) in short-term borrowings | 4,500,000 | 6 | (21,143) |
| FHLB advances: | |||
| Proceeds | 6,000,000 | 4,950,200 | 400 |
| Repayments | (6,000,000) | (5,200,200) | (405,400) |
| Repurchase agreements: | |||
| Repayment | (300,000) | — | — |
| Extinguishment cost | (3,872) | — | — |
| Long-term debt and lease liabilities: | |||
| Repayments of long-term debt and lease liabilities | (871) | (943) | (1,206) |
| Common stock: | |||
| Proceeds from issuance pursuant to various stock compensation plans and agreements | 3,208 | 3,178 | 2,573 |
| Stock tendered for payment of withholding taxes | (23,751) | (19,087) | (15,702) |
| Repurchase of common stock pursuant to the stock repurchase program | (82,174) | (99,990) | — |
| Cash dividends paid | (274,554) | (228,381) | (188,762) |
| Net cash provided by financing activities | 3,962,454 | 2,114,210 | 7,835,045 |
| Effect of exchange rate changes on cash and cash equivalents | (7,002) | (28,491) | 8,701 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1,133,200 | (431,151) | (105,036) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 3,481,784 | 3,912,935 | 4,017,971 |
| CASH AND CASH EQUIVALENTS, END OF YEAR | $4,614,984 | $3,481,784 | $3,912,935 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid during the year for: | |||
| Interest | $1,213,319 | $249,587 | $87,684 |
| Income taxes, net | $291,685 | $281,269 | $139,460 |
| Noncash investing and financing activities: | |||
| Loans transferred from held-for-investment to held-for-sale | $739,379 | $623,777 | $599,610 |
| Securities transferred from AFS to HTM debt securities | $— | $3,010,003 | $— |
| Loans transferred to OREO | $11,141 | $270 | $49,485 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.