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Mar 31, 2021
East West Bancorp Q1 2021 Earnings Report
East West Bancorp had a strong first quarter in 2021, reporting a net income of $205 million and diluted earnings per share of $1.44.
Key Takeaways
East West Bancorp reported a strong start to 2021 with robust loan and deposit growth, expanded revenue and profitability, and stable credit quality. Net income for the first quarter of 2021 was $205.0 million, or $1.44 per diluted share. Total loans reached a record $39.6 billion, growing by 13% annualized, and total deposits reached a record $49.5 billion, growing by 42% annualized.
Net income for the first quarter of 2021 was $205.0 million, or $1.44 per diluted share.
Total loans reached a record $39.6 billion, growing by 13% annualized from December 31, 2020.
Total deposits reached a record $49.5 billion, growing by 42% annualized from December 31, 2020.
First quarter 2021 return on average assets was 1.50% and return on average equity was 15.6%.
East West Bancorp
East West Bancorp
Forward Guidance
Based on the loan production and deposit growth year-to-date, East West Bancorp is optimistic about its growth trajectory for the full year and sanguine about its asset quality outlook, supported by the strength and resilience of its customers and the continued economic recovery.