Net interest income grew 11.0% year-over-year to $684.7 million in Q2 2026, demonstrating that loan and deposit volume growth is effectively compensating for a net interest margin that has remained flat at approximately 0.8% for ten consecutive quarters.
East West Bancorp, Inc. (EWBC) annual income statement — 28-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Net Interest Income | 2.69B | 2.55B | 2.28B | 2.31B | 2.05B | 1.53B | 1.38B | 1.47B | 1.39B | 1.19B | 1.03B | 950.44M | 1.04B | 956.19M | 918.93M | 903.03M | 894.71M | 483.35M | 349.99M | 407.99M | 367.48M | 280.12M | 199.17M | 143.31M | 118.31M | 99.35M | 89.49M | 71.9M | 55.7M |
| NII Growth % | 53.03% | 12.02% | -1.45% | 13.02% | 33.58% | 11.21% | -6.17% | 5.86% | 17% | 14.76% | 8.65% | -8.69% | 8.86% | 4.06% | 1.76% | 0.93% | 85.11% | 38.1% | -14.22% | 11.02% | 31.19% | 40.64% | 38.98% | 21.13% | 19.08% | 11.02% | 24.46% | 29.08% | - |
| Net Interest Margin % | 3.22% | 3.17% | 3% | 3.32% | 3.19% | 2.52% | 2.64% | 3.32% | 3.38% | 3.19% | 2.97% | 2.94% | 3.62% | 3.87% | 4.08% | 4.11% | 4.32% | 2.35% | 2.82% | 3.44% | 3.4% | 3.38% | 3.3% | 3.53% | 3.56% | 3.52% | 3.6% | 3.34% | 2.71% |
| Interest Income | 4.34B | 4.29B | 4.19B | 3.69B | 2.32B | 1.62B | 1.6B | 1.88B | 1.65B | 1.33B | 1.14B | 1.05B | 1.15B | 1.07B | 1.05B | 1.08B | 1.1B | 720.48M | 659.68M | 773.61M | 660.05M | 411.4M | 252.07M | 178.54M | 167.29M | 182.7M | 186.08M | 148.03M | 126.7M |
| Interest Expense | 1.65B | 1.74B | 1.91B | 1.38B | 275.35M | 87.16M | 217.85M | 414.49M | 265.19M | 140.05M | 104.84M | 103.38M | 112.82M | 112.49M | 132.17M | 177.42M | 201.12M | 237.13M | 309.69M | 365.61M | 292.57M | 131.28M | 52.9M | 35.23M | 48.98M | 83.35M | 96.59M | 76.13M | 71M |
| Loan Loss Provision | 105M | 130M | 174M | 125M | 73.5M | -35M | 210.65M | 98.69M | 64.25M | 46.27M | 27.48M | 14.22M | 49.16M | 22.36M | 65.18M | 95.01M | 200.16M | 528.67M | 226M | 12M | 6.17M | 15.87M | 16.75M | 8.8M | 10.2M | 6.22M | 4.4M | 5.4M | 5.4M |
| Non-Interest Income | 427.03M | 394.92M | 287.83M | 252.12M | 273.16M | 269.74M | 222.02M | 208.07M | 174.72M | 166.62M | 168.71M | 169.44M | -20.17M | -99M | -20.61M | -16.43M | -9.23M | 29.95M | 53.28M | 51.27M | 34.36M | 29.65M | 31.83M | 32.77M | 24.51M | 21.59M | 14.97M | 14.69M | 10M |
| Non-Interest Income % | 13.69% | 13.4% | 11.21% | 9.83% | 11.78% | 14.97% | 13.88% | 12.42% | 11.19% | 12.33% | 14.04% | 15.13% | -1.98% | -11.55% | -2.29% | -1.85% | -1.04% | 5.84% | 13.21% | 11.16% | 8.55% | 9.57% | 13.78% | 18.61% | 17.16% | 17.85% | 14.33% | 16.97% | 15.22% |
| Total Net Revenue | 3.12B | 2.95B | 2.57B | 2.56B | 2.32B | 1.8B | 1.6B | 1.68B | 1.56B | 1.35B | 1.2B | 1.12B | 1.02B | 857.19M | 898.32M | 886.6M | 885.48M | 513.3M | 403.27M | 459.26M | 401.84M | 309.76M | 231M | 176.08M | 142.82M | 120.94M | 104.45M | 86.59M | 65.7M |
| Revenue Growth % | 15.69% | 14.85% | 0.08% | 10.58% | 28.74% | 12.64% | -4.58% | 7.34% | 15.5% | 12.51% | 7.27% | 9.72% | 19.08% | -4.58% | 1.32% | 0.13% | 72.51% | 27.29% | -12.19% | 14.29% | 29.72% | 34.1% | 31.19% | 23.29% | 18.09% | 15.78% | 20.63% | 31.8% | - |
| Non-Interest Expense | 1.13B | 1.06B | 910.68M | 979.61M | 833.88M | 779.94M | 702.79M | 733.28M | 678.28M | 570.32M | 601.68M | 526.94M | 524.53M | 387.68M | 407.55M | 408.26M | 429.41M | -120.08M | 274.44M | 185M | 161.89M | 123.53M | 92.92M | 77.62M | 63.8M | 62.12M | 49.96M | 39.59M | 32.6M |
| Efficiency Ratio | 36.12% | 36.03% | 35.48% | 38.2% | 35.96% | 43.3% | 43.95% | 43.75% | 43.45% | 42.19% | 50.08% | 47.05% | 51.39% | 45.23% | 45.37% | 46.05% | 48.49% | -23.39% | 68.05% | 40.28% | 40.29% | 39.88% | 40.22% | 44.08% | 44.67% | 51.37% | 47.83% | 45.72% | 49.62% |
| Operating Income | 1.89B | 1.76B | 1.48B | 1.46B | 1.41B | 1.06B | 685.76M | 843.92M | 818.7M | 735.1M | 572.19M | 578.72M | 447.02M | 447.15M | 425.59M | 383.33M | 255.91M | 104.72M | -97.17M | 262.26M | 233.78M | 170.36M | 121.33M | 89.66M | 68.82M | 52.6M | 50.09M | 41.6M | 27.7M |
| Operating Margin % | 60.52% | 59.56% | 57.74% | 56.92% | 60.87% | 58.64% | 42.88% | 50.36% | 52.44% | 54.38% | 47.63% | 51.68% | 43.8% | 52.16% | 47.38% | 43.24% | 28.9% | 20.4% | -24.1% | 57.1% | 58.18% | 55% | 52.53% | 50.92% | 48.18% | 43.49% | 47.96% | 48.04% | 42.16% |
| Operating Income Growth % | - | 18.46% | 1.51% | 3.41% | 33.63% | 54.04% | -18.74% | 3.08% | 11.37% | 28.47% | -1.13% | 29.46% | -0.03% | 5.06% | 11.02% | 49.79% | 144.37% | 207.77% | -137.05% | 12.18% | 37.23% | 40.41% | 35.33% | 30.29% | 30.83% | 5% | 20.42% | 50.18% | - |
| Pretax Income | 1.86B | 1.73B | 1.48B | 1.46B | 1.41B | 1.06B | 685.76M | 843.92M | 818.7M | 735.1M | 572.19M | 578.72M | 447.02M | 447.15M | 425.59M | 383.33M | 255.91M | 104.72M | -97.17M | 262.26M | 233.78M | 170.36M | 121.33M | 89.66M | 68.82M | 52.6M | 50.09M | 41.6M | 27.7M |
| Pretax Margin % | 59.55% | 58.54% | 57.74% | 56.92% | 60.87% | 58.64% | 42.88% | 50.36% | 52.44% | 54.38% | 47.63% | 51.68% | 43.8% | 52.16% | 47.38% | 43.24% | 28.9% | 20.4% | -24.1% | 57.1% | 58.18% | 55% | 52.53% | 50.92% | 48.18% | 43.49% | 47.96% | 48.04% | 42.16% |
| Income Tax | 410.87M | 400.27M | 316.27M | 298.61M | 283.57M | 183.4M | 117.97M | 169.88M | 115M | 229.48M | 140.51M | 194.04M | 101.14M | 153.82M | 143.94M | 138.1M | 91.34M | 22.71M | -47.48M | 101.09M | 90.41M | 61.98M | 43.31M | 30.67M | 20.11M | 13.73M | 14.63M | 13.6M | 9.7M |
| Effective Tax Rate % | 22.13% | 23.2% | 21.34% | 20.46% | 20.09% | 17.36% | 17.2% | 20.13% | 14.05% | 31.22% | 24.56% | 33.53% | 22.63% | 34.4% | 33.82% | 36.03% | 35.69% | 21.69% | 48.87% | 38.55% | 38.67% | 36.38% | 35.7% | 34.2% | 29.23% | 26.1% | 29.2% | 32.69% | 35.02% |
| Net Income | 1.45B | 1.33B | 1.17B | 1.16B | 1.13B | 872.98M | 567.8M | 674.03M | 703.7M | 505.62M | 431.68M | 384.68M | 345.88M | 293.32M | 281.65M | 245.23M | 164.56M | 76.64M | -49.68M | 161.17M | 143.37M | 108.38M | 78.02M | 58.99M | 49.49M | 38.78M | 35.47M | 28M | 18M |
| Net Margin % | 46.38% | 44.96% | 45.41% | 45.28% | 48.64% | 48.46% | 35.5% | 40.22% | 45.07% | 37.41% | 35.93% | 34.35% | 33.89% | 34.22% | 31.35% | 27.66% | 18.58% | 14.93% | -12.32% | 35.09% | 35.68% | 34.99% | 33.78% | 33.5% | 34.65% | 32.07% | 33.95% | 32.34% | 27.4% |
| Net Income Growth % | 21.24% | 13.69% | 0.38% | 2.93% | 29.22% | 53.75% | -15.76% | -4.22% | 39.17% | 17.13% | 12.22% | 11.22% | 17.92% | 4.14% | 14.85% | 49.02% | 114.72% | 254.26% | -130.83% | 12.41% | 32.28% | 38.91% | 32.26% | 19.2% | 27.6% | 9.35% | 26.67% | 55.56% | - |
| Net Income (Continuing) | 1.45B | 1.33B | 1.17B | 1.16B | 1.13B | 872.98M | 567.8M | 674.03M | 703.7M | 505.62M | 431.68M | 384.68M | 345.88M | 293.32M | 281.65M | 245.23M | 164.56M | 82.01M | -49.68M | 161.17M | 143.37M | 108.38M | 78.02M | 58.99M | 48.7M | 38.87M | 35.47M | 28M | 18M |
| EPS (Diluted) | 10.44 | 9.52 | 8.33 | 8.18 | 7.92 | 6.10 | 3.97 | 4.61 | 4.81 | 3.47 | 2.97 | 2.66 | 2.38 | 2.10 | 1.89 | 1.60 | 0.83 | 0.33 | -0.94 | 2.60 | 2.35 | 1.97 | 1.49 | 1.19 | 1.00 | 0.81 | 0.77 | 0.61 | 0.38 |
| EPS Growth % | 21.5% | 14.29% | 1.83% | 3.28% | 29.84% | 53.65% | -13.88% | -4.16% | 38.62% | 16.84% | 11.65% | 11.76% | 13.33% | 11.11% | 18.13% | 92.77% | 151.52% | 135.11% | -136.15% | 10.64% | 19.29% | 32.21% | 25.21% | 19% | 23.46% | 5.19% | 26.23% | 60.53% | - |
| EPS (Basic) | - | 9.61 | 8.39 | 8.23 | 7.98 | 6.16 | 3.99 | 4.63 | 4.86 | 3.50 | 3.00 | 2.67 | 2.39 | 2.11 | 1.92 | 1.62 | 0.88 | 0.35 | -0.94 | 2.63 | 2.40 | 2.03 | 1.54 | 1.22 | 1.05 | 0.84 | 0.79 | 0.62 | 0.38 |
| Diluted Shares Outstanding | 138.57M | 139.1M | 139.96M | 141.9M | 142.49M | 143.14M | 142.99M | 146.18M | 146.17M | 145.91M | 145.35M | 144.51M | 143.56M | 139.57M | 147.18M | 153.47M | 147.1M | 84.55M | 62.67M | 62.09M | 60.91M | 55.03M | 52.3M | 49.37M | 49.26M | 48.11M | 46.34M | 45.79M | 47.55M |
Quick answers to the most common questions about buying EWBC stock.
For fiscal year 2025, East West Bancorp, Inc. (EWBC) reported total revenue of $2.95B. This represents a 4386.4% increase compared to $65.7M in 1998.
East West Bancorp, Inc. (EWBC) is profitable, generating $1.33B in net income for the fiscal year ending 2025 with a net profit margin of 45.0%.
East West Bancorp, Inc. (EWBC) reported an operating income of $1.76B, resulting in an operating profit margin of 59.6%. This margin reflects the operational efficiency of the business before interest and taxes.
East West Bancorp, Inc. (EWBC) generated $2.82B in gross profit for the year, representing a gross profit margin of 95.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Geopolitical and CRE concentration risk
Metrics are mathematically derived from official filings.
NII Growth Driven by Balance Sheet Expansion
Net interest income grew 11.0% year-over-year to $684.7 million in Q2 2026, as reported in recent financial statements, indicating that loan and deposit volume growth is successfully offsetting the flattening net interest margin environment.
The consistent double-digit NII growth, accelerating from 2.2% in Q4 2024 to 11.0% in Q2 2026, suggests the bank is successfully expanding its earning asset base. This trajectory implies management is effectively deploying capital into new loans despite a challenging rate environment, likely leveraging its specialized trade finance and commercial lending niches. The growth appears to be volume-driven rather than margin-driven, which is a sustainable but less profitable form of expansion.
NIM Stability Amidst Rate Uncertainty
Net interest margin has remained remarkably stable at approximately 0.8% for the past ten quarters, according to the provided data, suggesting a disciplined asset-liability management framework that is effectively balancing asset repricing against deposit cost pressures.
The flat NIM trend is notable given the volatile interest rate environment over this period. It indicates the bank's asset-sensitive balance sheet is repricing loans in tandem with rising funding costs, preventing margin expansion but also providing a floor. This stability is a positive sign of operational control, but it also means future earnings growth is almost entirely dependent on balance sheet growth rather than margin improvement, which may limit upside in a falling rate scenario.
Provisioning Volatility Signals Credit Cycle Shift
Provision expense fell sharply to $33.0 million in Q2 2026 from $70.0 million in Q4 2024, as per the income statement data, suggesting the bank may be moving past a peak in credit stress, though the lumpy pattern warrants monitoring for underlying asset quality trends.
The significant reduction in provisioning from the Q4 2024 peak implies that management's earlier reserves for potential credit deterioration, possibly in California CRE, may have been sufficient. However, the volatility—spiking to $49.0 million in Q1 2025 before declining—suggests the credit cycle is not linear and specific portfolio segments may still be under stress. Investors should monitor whether this decline represents genuine improvement or a temporary pause before further reserve builds.
Fee Income Volatility Masks Core Franchise Strength
Non-interest income fluctuated significantly, from a high of $125.3 million in Q3 2025 to $97.6 million in Q2 2026, based on reported figures, indicating that while the fee base is growing year-over-year, it remains susceptible to quarterly swings in trade finance and foreign exchange activity.
The fee income stream, while growing, shows considerable quarter-to-quarter variability that is likely tied to the timing of large trade finance transactions and foreign exchange volumes. This volatility suggests the fee business, while valuable, is less predictable than the core net interest income stream. The bank's ability to grow this segment is a positive diversification sign, but its lumpy nature means it cannot be relied upon to smooth earnings in any given quarter.
Q4 2024 Marked a Clear Earnings Inflection Point
The fourth quarter of 2024 appears to be a pivotal inflection point, as EPS growth surged to 24.3% following a period of negative growth, driven by a combination of accelerating NII growth and a sharp reduction in provision expense from the prior quarter's peak.
This inflection was not driven by a single factor but by a confluence of improving trends: NII growth re-accelerated after stalling in mid-2024, and the bank appears to have moved past a peak provisioning cycle. The subsequent quarters have sustained this momentum, suggesting the inflection was structural rather than a one-time event. This turning point likely reflects the bank successfully navigating a period of higher credit costs and positioning its balance sheet for the current growth phase.
EPS Miss Despite Record Revenue Raises Quality Questions
The Q2 2026 EPS of $2.63 missed consensus estimates by approximately 3% despite record revenue and NII, suggesting that underlying profitability may be more constrained than top-line metrics indicate, potentially due to higher-than-expected operating expenses or less favorable loan mix.
This disconnect between record top-line performance and an earnings miss is a red flag for earnings quality. It implies that the bank's cost structure or credit costs may be rising faster than anticipated, or that the new loan growth is coming from lower-margin segments. While the efficiency ratio improved slightly to 36.0%, the miss suggests that non-interest expenses or other below-the-line items are eroding the translation of revenue into shareholder returns. This warrants close scrutiny of the expense trajectory and loan yield composition in subsequent filings.