$EWBC

EAST WEST BANCORP INC

CIK:0001069157|SEC Filings

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST AND DIVIDEND INCOME
Loans receivable, including fees	$ 874,489	$ 865,695	$ 1,733,367	$ 1,706,107
Debt securities	170,329	153,788	330,507	301,572
Resale agreements	1,624	1,624	3,249	3,234
Restricted equity securities	3,165	2,957	8,143	5,816
Interest-bearing cash and deposits with banks	31,216	34,935	61,067	74,072
Total interest and dividend income	1,080,823	1,058,999	2,136,333	2,090,801
INTEREST EXPENSE
Deposits	359,422	400,588	714,834	792,569
Federal funds purchased and other short-term borrowings	5	1	9	7
FHLB advances	29,455	39,313	54,459	78,179
Repurchase agreements	6,680	1,352	9,970	1,429
Long-term debt and finance lease liabilities	610	671	1,217	1,342
Total interest expense	396,172	441,925	780,489	873,526
Net interest income before provision for credit losses	684,651	617,074	1,355,844	1,217,275
Provision for credit losses	33,000	45,000	69,000	94,000
Net interest income after provision for credit losses	651,651	572,074	1,286,844	1,123,275
NONINTEREST INCOME
Commercial and consumer deposit-related fees	31,621	26,865	62,240	53,940
Lending and loan servicing fees	27,961	25,586	54,031	51,816
Foreign exchange income	14,926	13,715	30,373	29,552
Wealth management fees	19,461	10,725	41,721	24,404
Customer derivative income and derivative mark-to-market adjustments	1,163	2,201	6,692	6,270
Net gains on AFS debt securities	2,931	746	3,547	877
Other investment (loss) income	(49)	678	2,907	2,940
Other income	8,478	5,662	7,537	8,481
Total noninterest income	106,492	86,178	209,048	178,280
NONINTEREST EXPENSE
Compensation and employee benefits	172,543	144,841	345,208	291,276
Occupancy and equipment expense	19,553	16,289	37,801	31,978
Computer and software related expenses	15,433	13,446	30,180	26,760
Deposit insurance premiums and regulatory assessments	10,268	9,133	19,127	19,518
Deposit account expense	8,906	9,348	16,439	18,390
Other real estate owned (“OREO”) expense (income)	2,254	(493)	1,990	3,673
Other operating expense	38,869	37,220	75,411	74,595
Amortization of tax credit and CRA investments	22,796	26,236	44,780	41,978
Total noninterest expense	290,622	256,020	570,936	508,168
INCOME BEFORE INCOME TAXES	467,521	402,232	924,956	793,387
Income tax expense	103,821	91,979	203,460	192,864
NET INCOME	$ 363,700	$ 310,253	$ 721,496	$ 600,523
Earnings per share (“EPS”)
Basic (in dollars per share)	$ 2.65	$ 2.25	$ 5.24	$ 4.35
Diluted (in dollars per share)	$ 2.63	$ 2.24	$ 5.21	$ 4.32
Weighted-average number of shares outstanding
Basic (in shares)	137,450	137,818	137,757	138,009
Diluted (in shares)	138,301	138,789	138,568	139,058

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 721,496	$ 600,523
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	69,000	94,000
Depreciation, amortization and accretion, net	126,918	130,778
Stock compensation costs	36,855	26,480
Deferred income tax expense (benefit)	7,787	(24,288)
Net gains on AFS debt securities	(3,547)	(877)
Net (gains) losses on OREO write-downs and sales	(369)	2,925
Loans held-for-sale:
Originations	(2,357)	(628)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale	2,347	406
Net change in accrued interest receivable and other assets	60,955	(125,159)
Net change in accrued expenses and other liabilities	13,482	(144,368)
Other operating activities, net	(2,537)	(3,238)
Total adjustments	308,534	(43,969)
Net cash provided by operating activities	1,030,030	556,554
Net (increase) decrease in:
Affordable housing partnership, tax credit and CRA investments	(132,756)	(152,801)
Interest-bearing deposits with banks	4,943	(56,040)
AFS debt securities:
Proceeds from sales	1,206,685	318,294
Proceeds from repayments, maturities and redemptions	1,240,280	1,703,393
Purchases	(3,882,854)	(3,567,424)
Loans held-for-investment:
Proceeds from sales of loans originally classified as held-for-investment	219,639	126,548
Purchases	(426,122)	(530,041)
Other changes in loans held-for-investment, net	(1,880,980)	(867,055)
Purchases of premises and equipment, net	(112,528)	(4,614)
Proceeds from sales of OREO	16,380	24,424
Proceeds from repayments and redemptions of HTM debt securities	32,129	32,213
Purchases of FHLB stock, net	(5,119)	0
Other investing activities, net	5,715	3,420
Net cash used in investing activities	(3,714,588)	(2,969,683)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	2,959,274	1,843,902
FHLB advances:
Proceeds	1,800,000	2,000,000
Repayments	(1,300,000)	(2,000,000)
Net change in short-term FHLB advances	(500,000)	0
Net change in repurchase agreements	956,894	0
Repayment of lease liabilities	(421)	(419)
Common stock:
Proceeds from issuance pursuant to various stock compensation plans and agreements	1,593	1,721
Stock tendered for payment of withholding taxes	(26,431)	(18,058)
Repurchase of common stock pursuant to the stock repurchase program	(97,841)	(89,135)
Cash dividends paid	(223,640)	(168,643)
Net cash provided by financing activities	3,569,428	1,569,368
Effect of exchange rate changes on cash and cash equivalents	15,914	2,960
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	900,784	(840,801)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	4,188,139	5,250,742
CASH AND CASH EQUIVALENTS, END OF PERIOD	5,088,923	4,409,941
Cash paid during the period for:
Interest	792,598	874,296
Income taxes, net	149,833	227,110
Noncash investing and financing activities:
Loans transferred from held-for-investment to held-for-sale	224,687	138,408
Loans transferred from held-for-sale to held-for-investment	3,497	0
Loans transferred to OREO	$ 19,645	$ 25,506

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 564,840	$ 656,125
Interest-bearing cash with banks	4,524,083	3,532,014
Cash and cash equivalents	5,088,923	4,188,139
Interest-bearing deposits with banks	12,426	16,189
Securities purchased under resale agreements (“resale agreements”)	425,000	425,000
Debt securities:
Available-for-sale (“AFS”), at fair value (amortized cost of $15,055,558 and $13,619,781)	14,581,546	13,212,220
Held-to-maturity (“HTM”), at amortized cost (fair value of $2,443,494 and $2,479,746)	2,845,364	2,870,058
Loans held-for-sale	17,425	20,976
Loans held-for-investment (net of allowance for loan and lease losses (“ALLL”) of $842,056 and $809,773)	58,121,884	56,068,399
Affordable housing partnership, tax credit and Community Reinvestment Act (“CRA”) investments, net	919,230	969,492
Premises and equipment (net of accumulated depreciation of $183,822 and $175,297)	186,166	82,310
Operating lease right-of-use assets	149,110	125,407
Goodwill	465,697	465,697
Other assets	1,950,701	1,991,110
TOTAL	84,763,472	80,434,997
Deposits:
Noninterest-bearing	18,355,698	16,697,099
Interest-bearing	51,736,995	50,385,602
Total deposits	70,092,693	67,082,701
Federal Home Loan Bank (“FHLB”) advances	3,000,000	3,000,000
Securities sold under repurchase agreements (“repurchase agreements”)	956,894	0
Long-term debt and finance lease liabilities	35,451	35,645
Operating lease liabilities	164,973	138,206
Accrued expenses and other liabilities	1,267,532	1,279,243
Total liabilities	75,517,543	71,535,795
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS’ EQUITY
Common stock, $0.001 par value, 200,000,000 shares authorized; 171,093,154 and 170,487,574 shares issued	171	170
Additional paid-in capital	2,151,229	2,111,316
Retained earnings	8,800,428	8,301,522
Treasury stock, at cost 34,082,542 and 32,908,712 shares	(1,292,113)	(1,168,196)
Accumulated other comprehensive loss (“AOCI”), net of tax	(413,786)	(345,610)
Total stockholders’ equity	9,245,929	8,899,202
TOTAL	$ 84,763,472	$ 80,434,997