East West Bancorp Q1 2024 Earnings Report

East West Bancorp reported a net income of $285 million for Q1 2024, with diluted earnings per share of $2.03.

Key Takeaways

East West Bancorp reported a strong first quarter in 2024, marked by record deposit growth and solid financial performance. The company's net income reached $285 million, with diluted earnings per share at $2.03. Adjusted diluted earnings per share increased by 3% from the previous quarter. Total deposits grew to a record $58.6 billion.

Net income for the first quarter of 2024 was $285 million, or $2.03 per diluted share.

Total deposits reached a record $58.6 billion as of March 31, 2024.

Adjusted diluted earnings per share for the quarter were $2.08, up 3% from the fourth quarter of 2023.

East West repurchased 1.2 million shares of common stock during the first quarter of 2024 for approximately $82 million.