East West Net Income Rises

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Pasadena’s East West Bancorp on Wednesday reported a double-digit percentage increase in profits for its latest quarter.

East West Bancorp reported net income of $84 million (58 cents a share) for the quarter ending June 30, 13 percent higher than the same quarter last year. The earnings were in line with analyst expectations.

Net interest income for the second quarter was about $218 million, up 14 percent when compared to the same period last year.

Before earnings were reported, shares of East West Bancorp fell 52 cents, about a percentage point, to close at $35.14 on the Nasdaq. Prices were unchanged in after-hours trading.

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