PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Thursday reported fourth-quarter net income of $293.1 million.
The Pasadena, California-based bank said it had earnings of $2.10 per share. Earnings, adjusted for non-recurring gains, came to $2.08 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The bank holding company posted revenue of $1.15 billion in the period. Its revenue net of interest expense was $675.8 million, which beat Street forecasts. Four analysts surveyed by Zacks expected $654.3 million.
For the year, the company reported profit of $1.17 billion, or $8.33 per share. Revenue was reported as $2.61 billion.
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