EAST WEST BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
EWBC$130.97+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Income
($ and shares in thousands, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| INTEREST AND DIVIDEND INCOME | |||
| Loans receivable, including fees | $3,490,979 | $3,172,746 | $2,048,301 |
| Debt securities | 449,065 | 276,190 | 198,906 |
| Assets purchased under resale agreements | 11,254 | 20,164 | 29,767 |
| Restricted equity securities | 10,104 | 4,062 | 3,144 |
| Interest-bearing cash and deposits with banks | 231,794 | 220,643 | 41,113 |
| Total interest and dividend income | 4,193,196 | 3,693,805 | 2,321,231 |
| INTEREST EXPENSE | |||
| Deposits | 1,720,174 | 1,205,550 | 251,838 |
| Federal funds purchased and other short-term borrowings | 42,163 | 157,002 | 1,801 |
| FHLB advances | 147,269 | 6,430 | 1,754 |
| Securities sold under repurchase agreements (“repurchase agreements”) | 197 | 1,497 | 14,362 |
| Long-term debt and finance lease liabilities | 4,677 | 11,072 | 5,595 |
| Total interest expense | 1,914,480 | 1,381,551 | 275,350 |
| Net interest income before provision for credit losses | 2,278,716 | 2,312,254 | 2,045,881 |
| Provision for credit losses | 174,000 | 125,000 | 73,500 |
| Net interest income after provision for credit losses | 2,104,716 | 2,187,254 | 1,972,381 |
| NONINTEREST INCOME | |||
| Deposit account fees | 103,880 | 93,811 | 95,177 |
| Lending fees | 98,455 | 83,876 | 79,208 |
| Foreign exchange income | 54,605 | 48,276 | 41,416 |
| Wealth management fees | 38,627 | 26,994 | 27,738 |
| Customer derivative income | 16,401 | 20,200 | 29,057 |
| Net gains on sales of loans | 44 | 3,634 | 6,411 |
| Net gains (losses) on AFS debt securities | 2,069 | (6,862) | 1,306 |
| Other investment income | 5,611 | 9,348 | 7,037 |
| Other income | 15,526 | 15,987 | 11,316 |
| Total noninterest income | 335,218 | 295,264 | 298,666 |
| NONINTEREST EXPENSE | |||
| Compensation and employee benefits | 550,734 | 508,538 | 477,635 |
| Occupancy and equipment expense | 64,399 | 62,763 | 62,501 |
| Deposit account expense | 47,390 | 43,143 | 25,508 |
| Computer and software related expenses | 47,271 | 44,475 | 42,776 |
| Deposit insurance premiums and regulatory assessments | 45,736 | 103,308 | 19,449 |
| Other operating expense | 148,301 | 140,222 | 118,166 |
| Amortization of tax credit and CRA investments | 54,242 | 120,299 | 113,358 |
| Total noninterest expense | 958,073 | 1,022,748 | 859,393 |
| INCOME BEFORE INCOME TAXES | 1,481,861 | 1,459,770 | 1,411,654 |
| Income tax expense | 316,275 | 298,609 | 283,571 |
| NET INCOME | $1,165,586 | $1,161,161 | $1,128,083 |
| EARNINGS PER SHARE (“EPS”) | |||
| BASIC | $8.39 | $8.23 | $7.98 |
| DILUTED | $8.33 | $8.18 | $7.92 |
| WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING | |||
| BASIC | 138,898 | 141,164 | 141,326 |
| DILUTED | 139,958 | 141,902 | 142,492 |
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