East West Bancorp reported second quarter revenue of $791 million and diluted EPS of $2.63, an 18% increase year-over-year. The results represented a slight beat on both analyst revenue and EPS expectations.
Key Highlights
- Total loans and deposits both reached new records, growing to $59.0 billion and $70.1 billion, respectively, reflecting continued balance sheet expansion.
- Net Interest Margin (NIM) declined by 6 basis points sequentially to 3.43%, missing analyst expectations for stability or expansion in the high-rate environment.
- Credit quality remained stable with the nonperforming assets to total assets ratio at 0.29%, though annualized net charge-offs increased to 0.19% from 0.09% in the prior quarter.