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AI brief of an SEC Form 8-K · East West Bancorp (EWBC)

East West Bancorp Q1 net income rises 19% to $285 million; revenue slips 2%

Mixed Impact 3 of 5 earnings Written later

East West Bancorp reported first quarter 2024 net income of $285 million, or $2.03 per diluted share, up from $239 million and $1.69 in the fourth quarter of 2023, after a $10 million pre-tax FDIC special assessment charge. Revenue fell 2% to $644 million, and the criticized loans ratio rose to 2.30% from 1.87%, so shareholders see higher profit on lower revenue and weaker credit indicators.

Key points

  • Net income $285 million vs. $239 million in Q4 2023 (up 19%); diluted EPS $2.03 vs. $1.69
  • Adjusted diluted EPS $2.08, up 3% from Q4 2023, excluding a $10 million pre-tax FDIC charge
  • Revenue $644 million, down 2% from $655 million; net interest margin 3.34%, down 14 basis points
  • Repurchased 1.2 million shares for about $82 million; second quarter dividend of $0.55 per share payable May 17, 2024

The filing

CompanyEast West Bancorp (EWBC)
Form8-K, current report
Filed with the SECApr 23, 2024, 4:10 PM ET
Accession number0001069157-24-000041

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.