April 25, 2007 |
East West Bancorp, a Chinese American bank expanding into Southern California's business mainstream, said Tuesday that it would purchase Victorville-based Desert Community Bank for $143 million, with 45% in cash and the rest in stock. Desert Community Chairman Ronald L. Wilson will stay on at the nine-branch bank, the largest in the high desert of San Bernardino County. The bank, focused on small businesses, will keep its name because the franchise is strong, executives said.
January 25, 2007 |
East West Bancorp Inc. of Pasadena reported 27% higher fourth-quarter profit, citing solid growth in loans. East West earned $39.1 million, or 63 cents a share, up from $30.8 million, or 54 cents, a year ago. Loans totaled $8.2 billion, up 22% from a year earlier. The bank's annual profit rose to $143.4 million, or $2.35 a share, from $108.4 million, or $1.97.
January 26, 2006
East West Bancorp's fourth-quarter profit rose from $22.6 million, or 42 cents a share, to $30.8 million, or 54 cents, on strong loan growth. For the year, the San Marino bank earned $108.4 million, or $1.97 a share, up 39% from $78 million, or $1.49.
July 16, 2004 |
San Marino's East West Bancorp reported 23% higher second-quarter earnings Thursday, reflecting strong growth in loans. Its Los Angeles-based rival, Cathay General Bancorp, reported a 67% jump in profit as an acquisition lifted its lending income. East West, which focuses on the Chinese American community and business loans, earned $18.03 million, or 35 cents a share, compared with $14.69 million, or 30 cents, during the same period in 2003.
January 22, 2004 |
UnionBanCal Corp., the parent of Union Bank of California, reported 5% higher fourth-quarter earnings Wednesday, citing improved loan quality and fee income, while East West Bancorp Inc. of San Marino recorded a 30% jump in fourth-quarter profit, capping a year of growth. San Francisco-based UnionBanCal, a major business lender, earned $151.9 million, or $1.02 a share, on revenue of $596 million. That's up from $144.
October 17, 2003 |
East West Bancorp, a San Marino-based bank that caters to Chinese American customers, Thursday reported net income of $16.1 million, or 64 cents a share, up 25% from $12.9 million, or 52 cents, in last year's third quarter. Lending income rose 19%, to $37.5 million, with loans up 25% and deposits up 29% year to date.