East West Bancorp Q2 net income $312M, EPS $2.20, up 21% YoY; loans and deposits grow 7% linked quarter annualized

EAST WEST BANCORP INC

2023-Q2 EPS reported $4.47

Net income of $312.0M and diluted EPS of $2.20, both up 21% YoY from $258.3M and $1.81.
Total loans $49.8B (+7% YoY); deposits $55.7B (+2% YoY); net interest margin 3.55%.
Return on avg. assets 1.85%; return on avg. tangible common equity 21.01%; net charge-offs 0.06% annualized.
Tangible common equity ratio 8.80%; CET1 capital ratio 13.17% as of June 30, 2023.
CEO Dominic Ng cited strong balance sheet and growth opportunities for continued shareholder returns.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EAST WEST BANCORP INC reported the quarter ended June 30, 2023 results: revenue $645, net income 312, EPS $2.20.

Period: the quarter ended June 30, 2023
Revenue: $645
Net income: 312
EPS: $2.20
Result: reported results

Exact text from the filing

FINANCIAL HIGHLIGHTS Quarter Ended Quarter Ended Year-over-Year Change ($ in millions, except per share data) June 30, 2023 June 30, 2022 $ % Total Loans $49,831 $46,531 $3,301 7% Total Deposits 55,659 54,343 1,315 2 Total Revenue $645 $551 $94 17% Adj. Pre-tax, Pre-provision Income 2 440 370 70 19 Net Income 312 258 54 21 Diluted Earnings per Share $2.20 $1.81 $0.39 21%

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Source: SEC EDGAR

accession 0001069157-23-000090

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