EAST WEST BANCORP INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 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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Consolidated Statement of Cash Flows (Unaudited)
CONSOLIDATED STATEMENT OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $872,471 | $922,208 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 104,000 | 88,000 |
| Depreciation and amortization | 139,736 | 174,856 |
| Amortization of premiums (accretion of discount), net | 10,732 | (15,740) |
| Stock compensation costs | 34,371 | 29,934 |
| Deferred income tax (benefit) expense | (12,780) | 1,083 |
| Net (gains) losses on sales of loans | (36) | 41 |
| Net (gains) losses on AFS debt securities | (1,979) | 10,000 |
| Impairment on other real estate owned (“OREO”) and other foreclosed assets | 2,576 | — |
| Net gains on sales of OREO and other foreclosed assets | (326) | (3,071) |
| Loans held-for-sale: | ||
| Originations and purchases | (2,491) | — |
| Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale | 2,629 | — |
| Distributions received from equity method investees | 4,617 | 3,727 |
| Net change in accrued interest receivable and other assets | 58,797 | (361,324) |
| Net change in accrued expenses and other liabilities | (295,554) | 11,641 |
| Other operating activities, net | (5,229) | 1,867 |
| Total adjustments | 39,063 | (58,986) |
| Net cash provided by operating activities | 911,534 | 863,222 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Net (increase) decrease in: | ||
| Affordable housing partnership, tax credit and CRA investments | (224,828) | (154,309) |
| Interest-bearing deposits with banks | (105,275) | 121,730 |
| Assets purchased under resale agreements: | ||
| Proceeds from paydowns and maturities | 360,000 | 219,917 |
| Purchases | — | (212,725) |
| AFS debt securities: | ||
| Proceeds from sales | 1,361,386 | — |
| Proceeds from repayments, maturities and redemptions | 1,073,539 | 877,377 |
| Purchases | (6,158,520) | (1,011,326) |
| HTM debt securities: | ||
| Proceeds from repayments, maturities and redemptions | 39,401 | 49,649 |
| Loans held-for-investment: | ||
| Proceeds from sales of loans originally classified as held-for-investment | 702,564 | 528,056 |
| Purchases | (741,188) | (433,228) |
| Other changes in loans held-for-investment, net | (1,038,818) | (2,794,119) |
| Redemption of trust preferred securities | 3,558 | — |
| Proceeds from sales of OREO and other foreclosed assets | 24,550 | 3,341 |
| Distributions received from equity method investees | 20,054 | 16,614 |
| Purchases of FHLB stock, net | (84,050) | — |
| Other investing activities, net | (11,925) | (108,599) |
| Net cash used in investing activities | (4,779,552) | (2,897,622) |
CONSOLIDATED STATEMENT OF CASH FLOWS
(Continued)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Net change in deposits | 5,591,371 | (840,367) |
| Net change in short-term borrowings | (4,500,000) | 4,500,017 |
| FHLB advances: | ||
| Proceeds | 4,000,000 | 6,000,000 |
| Repayment | (500,000) | (6,000,000) |
| Repurchase agreements: | ||
| Repayment | — | (300,000) |
| Extinguishment cost | — | (3,872) |
| Long-term debt and lease liabilities: | ||
| Repayment of junior subordinated debt and lease liabilities | (117,226) | (637) |
| Common stock: | ||
| Proceeds from issuance pursuant to various stock compensation plans and agreements | 1,580 | 1,563 |
| Stock tendered for payment of withholding taxes | (14,011) | (23,214) |
| Repurchase of common stocks pursuant to the stock repurchase program | (123,221) | — |
| Cash dividends paid | (232,132) | (206,848) |
| Net cash provided by financing activities | 4,106,361 | 3,126,642 |
| Effect of exchange rate changes on cash and cash equivalents | 6,746 | (12,848) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 245,089 | 1,079,394 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 4,614,984 | 3,481,784 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $4,860,073 | $4,561,178 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest | $1,584,127 | $852,315 |
| Income taxes, net | $241,491 | $284,347 |
| Noncash investing and financing activities: | ||
| Loans transferred from held-for-investment to held-for-sale | $646,797 | $507,215 |
| Loans transferred to OREO or other foreclosed assets | $67,379 | $— |
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