East West Bancorp Posts Higher Q2 Profit

(RTTNews) - East West Bancorp, Inc. (EWBC), parent company of East West Bank, reported net income for the second quarter of $98.7 million or $0.68 per share, compared to $84.31 million or $0.59 per share for the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.65 per share for the second quarter.

Net interest income for the second quarter fell to $227.5 million from $266.45 million a year earlier. Non-interest income for the second quarter of 2015 was $40.6 million, compared to a non-interest loss of $14.9 million for the second quarter of last year.

Looking forward, the company forecasts third quarter earnings of $0.63 to $0.65 per share.

The company now forecasts full year of 2015 earnings of $2.66 to $2.70 per share, compared to its prior guidance of $2.60 to $2.64 per share.

Analysts currently expect the company to earn $0.67 per share for the third quarter and $2.68 per share for the full year 2015.