East West Bancorp Q1 Profit Rises

(RTTNews) - East West Bancorp Inc. (EWBC), parent company of East West Bank, Wednesday reported first-quarter net income of $76.7 million or $0.54 per share, up from $70.4 million or $0.50 per share last year.

On average, 12 analysts polled by Thomson Reuters estimated earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income for the quarter rose to $258.0 million from $209.3 million last year. Analysts expected revenues of $237.95 million for the quarter.

Looking forward, the company expects earnings of $2.27 to $2.31 per share for the full year 2014. Analysts currently expect earnings of $2.28 per share.

The company expects second-quarter earnings of $0.56 to $0.58 per share. Analysts currently estimate earnings of $0.57 per share last year.