Last $34.82 USD
Change Today +0.105 / 0.30%
Volume 560.1K
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As of 5:20 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

east west bancorp inc (EWBC) Key Developments

East West Bancorp, Inc. Presents at Barclays 2014 Global Financial Services Conference, Sep-10-2014 09:45 AM

East West Bancorp, Inc. Presents at Barclays 2014 Global Financial Services Conference, Sep-10-2014 09:45 AM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Irene H. Oh, Chief Financial Officer, Principal Accounting Officer, Executive Vice President, Chief Financial Officer of The Bank, Principal Accounting Officer of East West Bank and Executive Vice President of The Bank.

East West Bancorp, Inc. Appoints Molly Campbell to its Board of Directors

East West Bancorp, Inc. announced that board has appointed Molly Campbell to its board of directors. Campbell, who serves as deputy executive director of the port of Los Angeles, was also appointed to the board of directors of East West Bank. The appointment is effective immediately. She joined the port of Los Angeles in 2000 and was appointed to her current position in 2007. As a member of the executive team at the port of Los Angeles, Campbell has overall responsibility for finance, fiscal management, information technology, human resources, and facilities and assets. Prior to her appointment as deputy executive director, she held the position of CFO of the port of Los Angeles and also previously served as director of public finance for the city of Los Angeles.

East West Bancorp, Inc. and East West Bank Appoints Molly Campbell to Board of Directors

East West Bancorp, Inc. appointed Molly Campbell, Deputy Executive Director of the Port of Los Angeles, to its Board of Directors. Ms. Campbell was also appointed to the Board of Directors of East West Bank. The appointment is effective immediately. Campbell joined the Port of Los Angeles in 2000 and was appointed to her current position in 2007. As a member of the executive team at the Port of Los Angeles, she has overall responsibility for finance, fiscal management, information technology, human resources, and facilities and assets.

East West Bancorp, Inc. Declares Third Quarter Common Stock Dividend Payable on or About August 15, 2014

East West Bancorp, Inc.'s Board of Directors has declared third quarter dividends for the common stock. The common stock cash dividend of $0.18 is payable on or about August 15, 2014 to shareholders of record on August 1, 2014.

East West Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

East West Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net income available to common shareholders was $84.0 million or $0.58 per diluted share compared to $72.30 million or $0.52 per diluted share reported a year ago. The company increased second quarter net income by $10.0 million or 13% and earnings per diluted share by $0.06 or 12% from the prior year period. Return on assets was 1.24% compared to 1.29% reported a year ago. Return on equity was 12.56% compared to 12.59% reported a year ago. Tangible book value per common share was $15.28 compared to $14.72 as at March 31, 2014. The increase in earnings from both the prior quarter and prior year period is largely fueled by its strong loan growth. Net interest income, adjusted, was $218.35 million compared to $192.17 million reported a year ago. Interest and dividend income was $294.44 million compared to $255.35 million reported a year ago. Income before provision for income taxes was $115.60 million compared to $111.87 million reported a year ago. For the six months, the company's interest and dividend income was $580.62 million compared to $493.77 million reported a year ago. Income before provision for income taxes was $227.3 million compared to $218.4 million reported a year ago. Net income available to common stockholders was $160.73 million or $1.12 per diluted share compared to $142.68 million or $1.03 per diluted share reported a year ago. Net interest income after provision for loan losses was $509.48 million compared to $423.61 million reported a year ago. Return on assets was 1.21% compared to 1.29% reported a year ago. Return on equity was 12.31% compared to 12.52% reported a year ago. The company provided earnings guidance for the third quarter and full year of 2014. The company currently estimates that fully diluted earnings per share for the full year of 2014 will range from $2.29 to $2.33, an increase of $0.19 to $0.23 or 9% to 11% from $2.10 for the full year of 2013. This EPS guidance for the remainder of 2014 is based on an adjusted net interest margin ranging from 3.35% to 3.40%, total loan growth of approximately $400 million per quarter, provision for loan losses of approximately $5.0 million to $8.0 million per quarter, noninterest expense of approximately $120 million to $125 million per quarter, and an effective tax rate of 29%. The company currently estimates that fully diluted earnings per share for the third quarter of 2014 will range from $0.58 to $0.60.

 

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