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Parent Company Condensed Financial Statements | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Parent Company Condensed Financial Statements | Parent Company Condensed Financial Statements The principal sources of East West’s income (on a Parent Company-only basis) are dividends from the Bank. In addition to dividend restrictions set forth in statutes and regulations, the banking agencies have the authority to prohibit or to limit the Bank from paying dividends, if, in the banking regulator’s opinion, payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the Bank. The Bank declared $190.0 million, $160.0 million and $255.0 million of dividends to East West during the years ended December 31, 2019, 2018 and 2017, respectively. The following tables present the Parent Company-only condensed financial statements: CONDENSED BALANCE SHEET
($ in thousands, except shares) |  | December 31,
| 2019 |  | 2018
ASSETS |  |  |  |
Cash and cash equivalents due from subsidiary bank |  | $ | 166,131 |  |  | $ | 149,411 |
Investments in subsidiaries: |  |  |  |
Bank |  | 4,987,666 |  |  | 4,401,860 |
Nonbank |  | 5,630 |  |  | 3,662 |
Investments in tax credit investments, net |  | 11,637 |  |  | 23,259 |
Goodwill |  | 150 |  |  | — |
Other assets |  | 3,941 |  |  | 6,487 |
TOTAL |  | $ | 5,175,155 |  |  | $ | 4,584,679 |
LIABILITIES |  |  |  |  |  |
Long-term debt |  | $ | 147,101 |  |  | $ | 146,835 |
Other liabilities |  | 10,437 |  |  | 13,870 |
Total liabilities |  | 157,538 |  |  | 160,705 |
STOCKHOLDERS’ EQUITY |  |  |  |
Common stock, $0.001 par value, 200,000,000 shares authorized; 166,621,959 and 165,867,587 shares issued in 2019 and 2018, respectively |  | 167 |  |  | 166 |
Additional paid-in capital |  | 1,826,345 |  |  | 1,789,811 |
Retained earnings |  | 3,689,377 |  |  | 3,160,132 |
Treasury stock, at cost — 20,996,574 shares in 2019 and 20,906,224 shares in 2018 |  | (479,864 | ) |  | (467,961 | )
AOCI, net of tax |  | (18,408 | ) |  | (58,174 | )
Total stockholders’ equity |  | 5,017,617 |  |  | 4,423,974 |
TOTAL |  | $ | 5,175,155 |  |  | $ | 4,584,679 |
CONDENSED STATEMENT OF INCOME
($ in thousands) |  | Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Dividends from subsidiaries: |  |  |  |  |  |
Bank |  | $ | 190,000 |  |  | $ | 160,000 |  |  | $ | 255,000 |
Nonbank |  | 189 |  |  | 175 |  |  | 4,118 |
Net gains on sales of AFS investment securities |  | — |  |  | — |  |  | 326 |
Other income |  | 425 |  |  | 2 |  |  | 395 |
Total income |  | 190,614 |  |  | 160,177 |  |  | 259,839 |
Interest expense on long-term debt |  | 6,482 |  |  | 6,488 |  |  | 5,429 |
Compensation and employee benefits |  | 5,479 |  |  | 5,559 |  |  | 5,065 |
Amortization of tax credit and other investments |  | 8,437 |  |  | 413 |  |  | 5,908 |
Other expense |  | 1,487 |  |  | 1,490 |  |  | 1,257 |
Total expense |  | 21,885 |  |  | 13,950 |  |  | 17,659 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  | 168,729 |  |  | 146,227 |  |  | 242,180 |
Income tax benefit |  | 6,737 |  |  | 3,404 |  |  | 18,182 |
Undistributed earnings of subsidiaries, primarily bank |  | 498,569 |  |  | 554,070 |  |  | 245,262 |
Net income |  | $ | 674,035 |  |  | $ | 703,701 |  |  | $ | 505,624 |
CONDENSED STATEMENT OF CASH FLOWS
($ in thousands) |  | Year Ended December 31,
| 2019 |  | 2018 |  | 2017
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net income |  | $ | 674,035 |  |  | $ | 703,701 |  |  | $ | 505,624 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Undistributed earnings of subsidiaries, principally bank |  | (498,569 | ) |  | (554,070 | ) |  | (245,262 | )
Amortization expenses |  | 8,703 |  |  | 671 |  |  | 6,158 |
Deferred income tax (benefit) expense |  | (10,132 | ) |  | 3,517 |  |  | 940 |
Gains on sales of AFS investment securities |  | — |  |  | — |  |  | (326 | )
Net change in other assets |  | 10,246 |  |  | (595 | ) |  | (3,341 | )
Net change in other liabilities |  | (18 | ) |  | (45 | ) |  | (560 | )
Net cash provided by operating activities |  | 184,265 |  |  | 153,179 |  |  | 263,233 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |
Net increase in investments in tax credit investments |  | (292 | ) |  | (1,049 | ) |  | (11,591 | )
Proceeds from distributions received from equity method investees |  | 2,577 |  |  | 1,491 |  |  | 1,814 |
Investments in and advances to nonbank subsidiaries |  | (3,314 | ) |  | — |  |  | — |
Other investing activities |  | (157 | ) |  | — |  |  | — |
AFS investment securities: |  |  |  |  |  |
Proceeds from sales |  | — |  |  | — |  |  | 18,326 |
Purchases |  | — |  |  | — |  |  | (9,000 | )
Net cash (used in) provided by investing activities |  | (1,186 | ) |  | 442 |  |  | (451 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Repayment of long-term debt |  | — |  |  | (25,000 | ) |  | (15,000 | )
Common stock: |  |  |  |  |  |
Proceeds from issuance pursuant to various stock compensation plans and agreements |  | 3,383 |  |  | 2,846 |  |  | 2,280 |
Stocks tendered for payment of withholding taxes |  | (14,635 | ) |  | (15,634 | ) |  | (12,940 | )
Cash dividends paid |  | (155,107 | ) |  | (125,988 | ) |  | (116,820 | )
Net cash used in financing activities |  | (166,359 | ) |  | (163,776 | ) |  | (142,480 | )
Net increase (decrease) in cash and cash equivalents |  | 16,720 |  |  | (10,155 | ) |  | 120,302 |
Cash and cash equivalents, beginning of year |  | 149,411 |  |  | 159,566 |  |  | 39,264 |
Cash and cash equivalents, end of year |  | $ | 166,131 |  |  | $ | 149,411 |  |  | $ | 159,566 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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