East West Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported interest and dividend income of $359,765,000 against $302,127,000 a year ago. Income before income taxes was $174,127,000 against $161,137,000 a year ago. Net income was $84,898,000 against $110,734,000 a year ago. Diluted earnings per share were $0.58 against $0.76 a year ago. Return on average assets was 0.90% against 1.27% a year ago. Adjusted return on average assets was 1.35% against 1.27% a year ago. Return on average equity was 8.73% against 12.87% a year ago. Adjusted return on average equity was 13.02% against 12.87% a year ago. Return on average tangible equity was 10.17% against 15.26% a year ago. Adjusted return on average tangible equity was 15.10% against 15.26% a year ago. Adjusted net income was $126,587,000 against $110,734,000 a year ago. Adjusted diluted EPS was $0.87 against $0.76 a year ago. Adjusted tangible net income was $127,780,000 against $111,946,000 a year ago. Book value per common share as on December 31, 2017 was $26.58 against $23.78 as on December 31, 2016.

For the year, the company reported interest and dividend income of $1,325,119,000 against $1,137,481,000 a year ago. Income before income taxes was $735,100,000 against $572,188,000 a year ago. Net income was $505,624,000 against $431,677,000 a year ago. Diluted earnings per share were $3.47 against $2.97 a year ago. Return on average assets was 1.41% against 1.30% a year ago. Adjusted return on average assets was 1.41% against 1.30% a year ago. Return on average equity was 13.71% against 13.06% a year ago. Adjusted return on average equity was 13.66% against 13.06% a year ago. Return on average tangible equity was 16.03% against 15.62% a year ago. Adjusted return on average tangible equity was 15.97% against 15.62% a year ago. Adjusted net income was $503,581,000 against $431,677,000 a year ago. Adjusted diluted EPS was $3.46 against $2.97 a year ago. Adjusted tangible net income was $508,668,000 against $437,081,000 a year ago.

For the fourth quarter of 2017, net charge-offs were $15.7 million or 0.22% of average loans HFI, annualized.

The company projecting full year 2018 effective tax rate of approximately 16%.