East West Bancorp Q3 profit falls 3% to $288 million as revenue rises 3%
East West Bancorp reported third-quarter 2023 net income of $288 million, or $2.02 per diluted share, down 3% from a year earlier, while revenue rose 3% to $648 million. The company said it plans to restart share repurchases in the fourth quarter, with $254 million remaining under its authorization.
- Net income was $288 million, down from $295 million in the third quarter of 2022.
- Diluted EPS was $2.02, compared with $2.08 a year earlier; net income also fell from $312 million in the second quarter.
- Revenue was $648 million, up from $627 million a year earlier.
- Board declared a $0.48 per share dividend payable November 15, 2023; no shares were repurchased in Q3 2023, and $254 million remains under the authorization.