EAST WEST BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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— Stockholders’ Equity and Earnings Per Share
Note 14 —Stockholders’ Equity and Earnings Per Share
The following table presents the basic and diluted EPS calculations for the years ended December 31, 2024, 2023 and 2022. For more information on the calculation of EPS, see Note 1 —Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Shareto the Consolidated Financial Statements in this Form 10-K.
| Year Ended December 31, | |||
|---|---|---|---|
| ($ and shares in thousands, except per share data) | 2024 | 2023 | 2022 |
| Basic: | |||
| Net income | $1,165,586 | $1,161,161 | $1,128,083 |
| Weighted-average number of shares outstanding | 138,898 | 141,164 | 141,326 |
| Basic EPS | $8.39 | $8.23 | $7.98 |
| Diluted: | |||
| Net income | $1,165,586 | $1,161,161 | $1,128,083 |
| Weighted-average number of shares outstanding | 138,898 | 141,164 | 141,326 |
| Add: Diluted impact of unvested RSUs | 1,060 | 738 | 1,166 |
| Diluted weighted-average number of shares outstanding | 139,958 | 141,902 | 142,492 |
| Diluted EPS | $8.33 | $8.18 | $7.92 |
Approximatelysix thousand,283 thousand andthree thousand weighted-average shares of anti-dilutive RSUs were excluded from the diluted EPS computation for the years ended December 31, 2024, 2023 and 2022,respectively.
Stock Repurchase Program — In 2020, the Company’s Board of Directors authorized a stock repurchase program to buy back up to $500 million of the Company’s common stock. The following table presents the activity under the Company’s common share repurchase program for the periods indicated:
| Year Ended December 31, | |||
|---|---|---|---|
| ($ in thousands, except shares and per share data) | Shares Repurchased | Average Price per Share | Total Cost |
| 2024 | 1,943,346 | $74.33 | $144,446 |
| 2023 | 1,506,091 | $54.56 | $82,174 |
| 2022 | 1,385,517 | $72.17 | $99,990 |
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