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Jun 30, 2020
East West Bancorp Q2 2020 Earnings Report
Reported net income of $99.4 million and diluted earnings per share of $0.70.
Key Takeaways
East West Bancorp reported a net income of $99.4 million, or $0.70 per diluted share, for the second quarter of 2020. Total loans grew by $1.3 billion to a record $37.2 billion, and total deposits increased by $2.0 billion to a record $40.7 billion. The company's allowance for loan losses coverage was strengthened to 1.70% of the loan portfolio.
Net income was $99.4 million, with diluted earnings per share of $0.70.
Total loans reached a record $37.2 billion, growing by $1.3 billion, or 15% annualized.
Total deposits also reached a record $40.7 billion, increasing by $2.0 billion, or 21% annualized.
Allowance for loan losses was strengthened to 1.70% of loans held-for-investment.
Forward Guidance
No specific forward guidance was provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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