Several Los Angeles-area bank companies, including East West Bancorp of Pasadena, scored highly on Bank Director’s annual “RankingBanking” list. 

Bank Director, a publication aimed at directors and officers of financial institutions nationwide, puts out its list that measures the performance of the 300 largest publicly traded banks based on profitability, total shareholder return, asset quality and the like. This year’s list is considered particularly noteworthy because of the stresses in the lending industry over the past year, including rapidly rising interest rates that helped capsize some banks.

Bank Director’s main list ranks the 25 best banks. It backs that up with separate lists breaking down the winners in small, medium and large categories. 

East West Bancorp, the parent of East West Bank, the second largest bank headquartered in Los Angeles County, ranked No. 1 on the list of large banks, or those with $50 billion or more in total assets – essentially meaning it ranks as the best large bank in the country. It also was No. 25 on the overall list of best banks.

Other local honorees include Hanmi Financial Corp., which was No. 9 on the overall list and No. 6 on the list of medium-sized banks; Preferred Bank, No. 10 on the overall list and No. 5 on the list of medium-sized banks; and OP Bancorp, the holding company for Open Bank, No. 12 on the overall list and No. 4 on the list of small banks.

“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,” said Dominic Ng, who is the chair and chief executive of East West.

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You’d think with interest rates on the upward march, prices of homes would come down to compensate. Not so, says a new report from RealtyHop, a residential real estate information firm that regularly puts out an affordability index.

“Most cities across the Los Angeles metro area became less affordable for buyers this month,” said RealtyHop in its report. Not only have interest rates gone up, but home prices have, too, it said, “making homeownership more unaffordable for those looking to purchase property.” 

The city of Los Angeles is particularly unaffordable among localities, it said. With a median asking price of $929,000 for a house, the estimated mortgage and taxes amount to about $4,700 a month. That means it takes nearly 77% of L.A.’s median household income of more than $73,500 to pay that mortgage. 

For Long Beach, it “only” takes 61% of a median household income to pay for a median priced Long Beach home, which is nearly $200,000 less than its counterpart in Los Angeles.

The Insider is compiled by Editor-in-Chief Charles Crumpley. He can be reached at [email protected].