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East West Bancorp reports lower Q3 net interest margin YOY

Pasadena, Calif.-based East West Bancorp Inc. reported third-quarter net income of $171.4 million, or $1.17 per share, compared to $171.3 million, or $1.17 per share, in the year-ago quarter.

Adjusted net income was $171.4 million, or $1.17 per share, compared to $171.3 million, or $1.17 per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.20.

The company's net interest income for the quarter was $369.8 million, up from $348.7 million in the prior-year period.

Total loans at the end of the third quarter were $34.03 billion, up from $33.73 billion at the end of the previous quarter and up from $31.21 billion at the end of the year-ago quarter.

Total deposits were $36.66 billion at Sept. 30, compared to $36.48 billion at June 30 and $33.63 billion at Sept. 30, 2018.

Net interest margin for the third quarter was 3.59%, compared to 3.73% in the linked quarter and 3.76% in the year-ago quarter.