East West Bancorp Earns Top Spot in 2023 Bank Director Performance Ranking
PASADENA, Calif., August 16, 2023--(BUSINESS WIRE)--East West Bancorp, Inc. ("East West" or the "Company") (Nasdaq: EWBC), parent company of East West Bank, earned the No. 1 Performing Bank ranking in Bank Director’s 2023 RankingBanking study in the $50 billion and above asset category.
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East West Bancorp earned both rankings based on several factors including profitability, return on equity, return on assets, tangible common equity, stock price appreciation and dividend rate.
Bank Director, an information resource for the banking industry that reaches more than 24,000 U.S. bank executives and board members, has recognized East West Bancorp’s strong performance in previous years as well. East West Bancorp received the Best Board designation in its 2022 RankingBanking study and its No. 1 Performing Bank ranking for banks in the $50 billion and above asset category in the 2021 Bank Performance Scorecard.
"As we celebrate East West Bank’s 50th anniversary this year, we are honored to be recognized as a leading bank in not one, but two of Bank Director’s prestigious national rankings," stated Dominic Ng, Chairman and Chief Executive Officer of East West Bancorp. "These recognitions underscore our ability to execute and perform, consistently, year after year. In turn, our strong balance sheet and financial performance allow us to continue to help our customers reach further."
Bank Director’s RankingBanking evaluates the performance of the 300 largest publicly traded banks in the United States examining the balance between growth and profitability and the ability to deliver long-term shareholder value, in a safe and sound manner. Bank Director also evaluates leadership, board oversight and tech innovation as part of bank performance. Data used in the analysis is based on calendar year 2022 results.
"We’re proud of our operating performance that allows us to serve the long-term interests of our customers and shareholders," stated Irene Oh, Chief Financial Officer of East West Bancorp. "This recognition from Bank Director acknowledges the strength, commitment and expertise of our 3,200 associates."
About East West Bank
East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: "EWBC") with total assets of $68.5 billion. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 120 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit www.eastwestbank.com.
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