East-West Bancorp Inc - EWBC STOCK NEWS

Hope Bancorp, Inc. has appointed Julianna Balicka as the new Executive Vice President and Chief Financial Officer, effective immediately. She succeeds David P. Malone, who served as the Interim CFO since January 6, 2023 and will assist in the transition until April 30, 2023. Balicka brings extensive experience from her previous role as Senior Vice President at East West Bank, overseeing investor relations and corporate finance. Her background includes significant involvement with ethnic banking, making her a valuable addition to Hope Bancorp as it navigates current market challenges. The company, the only super regional Korean American bank in the U.S., has total assets of $19.2 billion as of December 31, 2022, and operates 53 branches across multiple states.

East West Bancorp, Inc. (NASDAQ: EWBC) will release its first quarter 2023 financial results on April 20, 2023, before market opening. An accompanying conference call will be held at 8:30 A.M. PT on the same day, where management will discuss the financial results and operating developments. Investors can access the call through various dial-in numbers provided for the U.S., Canada, and international participants. Replay details will also be available after the call until May 20, 2023. East West Bancorp has total assets of $64.1 billion and operates over 120 locations in the U.S. and Asia.

East West Bancorp, Inc. (NASDAQ: EWBC) has been recognized as the best performing public bank in the U.S. for 2022 by S&P Global Market Intelligence. The ranking assesses public banks with over $10 billion in assets based on key metrics such as returns, growth, and efficiency. East West's strong capital and liquidity have contributed to its leading profitability. As the bank marks its 50th anniversary in 2023, Chairman and CEO Dominic Ng expressed gratitude to over 500,000 customers for their trust. The Company's assets total approximately $64.1 billion and it operates over 120 locations nationally and in Asia.

East West Bancorp (Nasdaq: EWBC) has announced its NIL sponsorship of top-ranked amateur golfer Rose Zhang, emphasizing its commitment to supporting Asian American athletes. Zhang, a standout from Stanford University, boasts several impressive accolades, including winning the 2022 NCAA Championship and the 2020 U.S. Women’s Amateur. This partnership aims to inspire the next generation of athletes. The bank, established in 1973, operates over 120 locations across the U.S. and Asia, acting as a cultural and financial bridge.

East West Bancorp, Inc. (EWBC) has released an unaudited financial update, emphasizing its diversified business model, conservative balance sheet management, and strong liquidity. As of March 10, 2023, total deposits stood at $55.3 billion, with consumer deposits up 3% year-to-date. The company reported robust capital ratios, including a tangible common equity ratio of 8.7%, significantly higher than industry medians. Additionally, its availability of unused borrowing capacity was $28 billion as of March 13, 2023, constituting over 50% of total deposits. Asset quality remains stable with non-performing assets at 16 basis points of total assets.

East West Bancorp (Nasdaq: EWBC) reported a record net income of $1.1 billion for the full year 2022, marking a 30% increase year-over-year. The fourth quarter also showed robust growth, with net income rising 56% to $336.8 million. Total loans hit a record $48.2 billion, up 16% year-over-year, while total deposits grew to $56.0 billion, a 5% increase. The company announced a 20% dividend increase, bringing the quarterly dividend to $0.48 per share. Strong financial metrics include a 2.1% return on average assets and a 25.0% return on average tangible equity. The balance sheet remains solid with total assets of $64.1 billion.

East West Bancorp, Inc. (NASDAQ: EWBC) will release its financial results for Q4 and FY 2022 on January 26, 2023. Management will host a conference call at 8:30 A.M. PT to discuss these results. The call can be accessed by dialing (877) 506-6399 for U.S. participants. Additionally, the company updated its fourth quarter tax credit amortization to $65 million and an effective tax rate of 13%, with a full-year rate of 20%. The firm operates over 120 locations in the U.S. and China, boasting total assets of $62.6 billion.

East West Bancorp (EWBC) reported robust third quarter 2022 results, achieving net income of $295.3 million, or $2.08 per diluted share, reflecting a 58% increase linked quarter annualized and 32% year-over-year. Net interest income reached a record $552 million, up 66% linked quarter annualized, with a net interest margin of 3.68%. Total loans grew to $47.5 billion, rising 8% linked quarter annualized. The Company maintained strong capital levels, with a common equity tier 1 ratio of 12.3% and solid asset quality metrics. A fourth quarter dividend of $0.40 per share was also declared.

East West Bancorp, Inc. (EWBC) is set to release its third quarter 2022 financial results on October 20, 2022, before the market opens. A conference call for discussing these results will occur at 8:30 A.M. PT the same day, inviting both public and investors to participate. The company, with $62.4 billion in total assets, is the largest independent bank in Southern California, operating over 120 locations across the U.S. and Greater China. Further details can be found on their Investor Relations page.