January 28, 2005 |
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.
January 13, 2003 |
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.
June 7, 2007 |
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.
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.
December 30, 2005 |
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.
April 16, 2005 |
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.
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.
March 23, 2000
* Brian Zientek has been named chief executive of Sirena Apparel Group Inc., a Los Angeles-based swimwear maker. In 1987, Zientek was part of a venture capital group that purchased the assets of Daffy Swimwear, which was later renamed Beach Patrol. Sirena has a license from Liz Claiborne Inc. to use the Liz Claiborne trademark. * East West Bancorp, the San Marino-based parent of East West Bank, has appointed Ed von Leffern as vice president, international banking officer.
January 29, 2008 |
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.