earnings
confidence high
sentiment positive
materiality 0.70
East West Bancorp Q2 net income $288M, EPS $2.06; loans, deposits up 2% QoQ
EAST WEST BANCORP INC
2024-Q2 EPS reported
$4.09
- Net income $288M, diluted EPS $2.06; ROAA 1.63%, ROATCE 17.5%.
- Revenue $638M (-1% QoQ); record fee income up 8% QoQ; pre-tax pre-provision income $401M (+1% QoQ).
- Loans and deposits each grew 2% QoQ; net charge-offs stable at 0.18%; criticized loans down 10%.
- Book value per share $52.06 (+3% QoQ, +14% YoY); tangible book value per share $48.65.
- CEO highlights diversified model and Bank Director recognition as best-performing bank >$50B assets.