* Q4 adj EPS $0.35 vs est $0.29
* Q4 bad loan provisioning falls 80 pct
* Sees FY'11 EPS $1.44-$1.48 vs est $1.38
* Sees Q1 EPS $0.33-$0.35 vs est $0.31
* Shares up 3.5 pct in extended trading
Jan 25 East West Bancorp (EWBC.O) posted a
higher-than-expected quarterly profit, as improving credit
quality helped reduce provision for loan losses, and forecast
2011 earnings above Wall Street estimates, sending shares up
more than three percent.
The bank holding firm reported fourth-quarter net income
available to common shareholders of $32.2 million, or 22 cents
per share, compared with $253.6 million, or $1.96 per share, a
Excluding a non-cash charge of $18.7 million, it earned 35
cents per share.
Analysts were expecting earnings of 29 cents a share,
excluding items, according to Thomson Reuters I/B/E/S.
Net interest income was up 11 percent at $246.6 million
while provision for loan losses fell to $29.8 million from $140
The company forecast its fiscal 2011 earnings of
$1.44-$1.48 per share and sees bad loan provisions of about
$95-$100 million for the period.
Analysts were expecting earnings of $1.38 cents per share.
Shares of the company were up 73 cents at $21.28 in
extended trading after closing at $20.55 on Tuesday on Nasdaq.
(Reporting by Abhinav Sharma in Bangalore; Editing by Joyjeet