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East West Bancorp

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.
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BUSINESS
August 13, 2011 | By E. Scott Reckard, Los Angeles Times
Jamie Dimon's getting-to-know-you bus tour of the West Coast, planned last spring, couldn't have come at a more awkward time for the JPMorgan Chase & Co. chief executive. With financial shares flopping around like penny stocks, the Fed keeping interest rates near zero and fears of a global recession, it's not exactly a comfortable time for bankers. But Dixon β€” dressed in jeans and polo shirt β€” took to the tour this week from Seattle to San Diego like a head cheerleader.
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
December 30, 2005 | From Reuters
East West Bancorp Inc. said it agreed to buy rival California community bank Standard Bank for about $204 million in a move to expand its Chinese American customer base. Shareholders of Monterey Park-based Standard Bank will receive $204 million -- about two times Standard Bank's book value -- mostly in East West stock. The transaction, expected to close in the first quarter of 2006, will add about 2 cents a share to San Marino-based East West's earnings, the company said Wednesday.
BUSINESS
August 5, 2012 | E. Scott Reckard
He's the ultimate insider at the ultimate insider's bank, the place Frank Sinatra turned to for ransom money when his son Frank Jr. was kidnapped. Michael Jackson partied in his vault. Bram Goldsmith, 89, has seen it all at City National Bank. The son-in-law of one of the founders, he took the reins of the "bank to the stars" in the mid-1970s and remains chairman of the parent company to this day. Launched in 1954, City National's 58-year run stands out in an industry where small banks tend to get gobbled by larger rivals.
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. β€œThe 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
January 29, 2008 | E. Scott Reckard, Times Staff Writer
Saying the sagging economy was taking a toll, East West Bancorp reported a rare decline in profit Monday and slashed its estimate of 2008 earnings by 20%. After a $9-million provision for loan losses, the Pasadena-based business lender earned $37.2 million, or 59 cents a share, in the fourth quarter, down 5% from $39.1 million, or 63 cents, a year earlier. Revenue rose 10% to $215.4 million.
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