East West Bancorp reports Q1 EPS $2.57, consensus $2.47

Reports Q4 revenue $774M, consensus $751.4M. “East West reported record loans, deposits, and fee income in the first quarter, generating a 17% return on average tangible common equity1,” said Dominic Ng, Chairman and Chief Executive Officer. “Our balance sheet growth reflects the strength of our customer relationships and the success of the clients we serve. This performance was complemented by 12% year-over-year growth in fee income, driven by notable strength in wealth management and deposit account fees. Credit performance remained resilient, with net charge-offs and nonperforming asset levels stable, while we bolstered our allowance for loan losses to 1.44% of loans. We continued to operate from a position of capital strength, which enabled us to support our customers with confidence while also returning capital to our shareholders. Looking ahead, we are well positioned to deliver top-tier shareholder returns through industry-leading profitability, strong balance sheet growth, and prudent risk management.”