WASHINGTON (dpa-AFX) - East West Bancorp, Inc. (EWBC), parent company of East West Bank, reported third-quarter net income OF $88.8 million or $0.62 per share, compared to $73.2 million or $0.53 per share, previous year. Net income per share excluding integration and merger related expenses was $0.62, for the quarter.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.60 for the quarter. Analysts' estimates typically exclude special items.
Net interest income before provision for loan losses increased to $256.97 million from $254.25 million, last year. Noninterest income was $10.34 million, compared to a noninterest loss of $41.42 million. Analysts expected revenue of $241.57 million for the quarter.
Management currently estimates earnings per share for the full year of 2014 will range from $2.37 to $2.39. Management currently estimates earnings per share for the fourth quarter of 2014 will range from $0.63 to $0.65. Analysts expect the company to report fourth-quarter profit per share of $0.61 and full year 2014 profit per share of $2.35.
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