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East West Bancorp

BUSINESS
July 2, 2005 | Josh Friedman
Shares of East West Bancorp Inc. rose 7% on Friday after the San Marino company said it would buy cross-town rival United National Bank for an estimated $165 million. Under terms of the deal announced late Thursday, 60% to 70% of the purchase price would be paid in stock and the rest in cash, at the seller's discretion. The deal would "further solidify" East West Bank's position in the Chinese American market, its parent company said.
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BUSINESS
January 28, 2005 | E. Scott Reckard
IndyMac Bancorp Inc., a Pasadena thrift that specializes in home loans over the Internet, reported 30% higher fourth-quarter profit Thursday. Net income also rose at two Asian American banks, East West Bancorp in San Marino and Los Angeles-based Hanmi Financial Corp. IndyMac earned $55.9 million, or 87 cents a share, up from $43.3 million, or 75 cents, in the fourth quarter of 2003, as its mortgage volume rose 79%. Full-year net income fell from $171.3 million, or $3.01 a share, to $170.
BUSINESS
January 13, 2003 | E. Scott Reckard
East West Bancorp Inc., the San Marino-based banking company whose clients mainly are ethnic Chinese, will announce today that it has opened a representative office in Beijing. Since East West specializes in trade finance, the Beijing facility will be "a great service for their customers, like a business office with access to all your finances," said Mark Agah, a banking analyst with RBC Capital Markets in San Francisco.
BUSINESS
June 7, 2007 | E. Scott Reckard, Times Staff Writer
An advocacy group Wednesday chastised Pasadena's East West Bancorp, saying the company gave too little to charity and made too few small loans to non-Chinese minority businesses. The criticism opened an unusual rift between the Greenlining Institute and East West Chairman Dominic Ng, who is known for his personal philanthropy. Ng accused Greenlining, a onetime ally, of trying to strong-arm him into committing funds to groups without first carefully checking their credentials.
BUSINESS
August 23, 2000
* Jordan Sollitto has been promoted to chief marketing officer for Warner Bros. Online and Entertaindom. Hired to head marketing for both original online entertainment sites, Sollitto will be responsible for Entertaindom's and Warner Bros. Online's overall branding, advertising, strategic partnering and creative execution of the site campaigns.
BUSINESS
January 24, 2013 | By Andrew Tangel
As Apple's luster dims on Wall Street, the tech giant's stock is becoming cheaper and cheaper. By at least one measure, Apple's stock is becoming a bargain. Its price-to-earnings ratio, a shorthand measure of value for stocks, has fallen well below the average of the broad Standard & Poor's 500 index. “The P/E is extremely low,” said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. As Apple's stock falls 10%, to $461.46, in early trading following Wednesday's disappointing earnings report, its P/E ratio -- based on the previous 12 months of earnings -- is down to 10.5.
BUSINESS
April 16, 2005 | E. Scott Reckard, Times Staff Writer
East West Bancorp Inc. reported 39% higher first-quarter earnings Friday, but its stock tumbled as investors fretted that competition was forcing the San Marino bank to pay depositors higher interest. The Chinese American bank, which has been expanding into mainstream banking, earned $23.5 million, or 44 cents a share, up from $16.9 million, or 33 cents, in the first quarter of 2004. But its stock fell $2.62 a share, or 7.6%, to $31.87 on Nasdaq.
BUSINESS
July 16, 2004 | E. Scott Reckard, Times Staff Writer
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.
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