EAST WEST BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Changes in Stockholders’ Equity
($ in thousands, except shares and per share data)
| Common Stock and Additional Paid-in Capital | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Retained Earnings | Treasury Stock | AOCI, Net of Tax | Total Stockholders’ Equity | |
| BALANCE, DECEMBER 31, 2021 | 141,907,954 | $1,893,725 | $4,683,659 | $(649,785) | $(90,381) | $5,837,218 |
| Net income | — | — | 1,128,083 | — | — | 1,128,083 |
| Other comprehensive loss | — | — | — | — | (675,248) | (675,248) |
| Issuance of common stock pursuant to various stock compensation plans and agreements | 671,871 | 42,832 | — | — | — | 42,832 |
| Repurchase of common stock pursuant to various stock compensation plans and agreements | (246,462) | — | — | (19,087) | — | (19,087) |
| Repurchase of common stock pursuant to the stock repurchase program | (1,385,517) | — | — | (99,990) | — | (99,990) |
| Cash dividends on common stock ($1.60 per share) | — | — | (229,196) | — | — | (229,196) |
| BALANCE, DECEMBER 31, 2022 | 140,947,846 | $1,936,557 | $5,582,546 | $(768,862) | $(765,629) | $5,984,612 |
| Cumulative-effect of change in accounting principle (1) | — | — | (4,262) | — | — | (4,262) |
| Net income | — | — | 1,161,161 | — | — | 1,161,161 |
| Other comprehensive income | — | — | — | — | 145,033 | 145,033 |
| Issuance of common stock pursuant to various stock compensation plans and agreements | 913,185 | 44,430 | — | — | — | 44,430 |
| Repurchase of common stock pursuant to various stock compensation plans and agreements | (327,573) | — | — | (23,751) | — | (23,751) |
| Repurchase of common stock pursuant to the stock repurchase program | (1,506,091) | — | — | (82,174) | — | (82,174) |
| Cash dividends on common stock ($1.92 per share) | — | — | (274,215) | — | — | (274,215) |
| BALANCE, DECEMBER 31, 2023 | 140,027,367 | $1,980,987 | $6,465,230 | $(874,787) | $(620,596) | $6,950,834 |
| Cumulative-effect of change in accounting principle (2) | — | — | (9,482) | — | — | (9,482) |
| Net income | — | — | 1,165,586 | — | — | 1,165,586 |
| Other comprehensive income | — | — | — | — | 35,336 | 35,336 |
| Issuance of common stock pursuant to various stock compensation plans and agreements | 553,149 | 49,895 | — | — | — | 49,895 |
| Repurchase of common stock pursuant to various stock compensation plans and agreements | (199,871) | — | — | (14,877) | — | (14,877) |
| Repurchase of common stock pursuant to the stock repurchase program | (1,943,346) | — | — | (144,446) | — | (144,446) |
| Cash dividends on common stock ($2.20 per share) | — | — | (309,792) | — | — | (309,792) |
| BALANCE, DECEMBER 31, 2024 | 138,437,299 | $2,030,882 | $7,311,542 | $(1,034,110) | $(585,260) | $7,723,054 |
(1)Represents the change in the Company’s allowance for loan losses as a result of the adoption of Accounting Standards Update (“ASU”) 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and the Vintage Disclosures on January 1, 2023.
(2)Represents the impact of the adoption of ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method on January 1, 2024. Refer to Note 1 — Summary of Significant Accounting Policies to the Consolidated Financial Statements in this Annual Report on Form 10-K (“this Form 10-K”) for additional information.
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