Pasadena, Calif.-based East West Bancorp Inc. reported adjusted net income of $161.5 million, or $1.13 per share, compared to $187.1 million, or $1.28 per share, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.03.

Unadjusted net income came in at $164.1 million, or $1.15 per share, for the fourth quarter of 2020, compared to $188.2 million, or $1.29 per share, in the year-ago quarter.

The company's net interest income before provision for credit losses for the quarter was $346.6 million, down from $368.2 million in the prior-year period.

Total loans at the end of the fourth quarter were $38.39 billion, up from $37.44 billion at the end of the previous quarter and from $34.78 billion at the end of the year-ago quarter.

Total deposits were $44.86 billion at Dec. 31, 2020, compared to $41.68 billion at Sept. 30, 2020, and $37.32 billion at Dec. 31, 2019.

Net interest margin for the fourth quarter was 2.77%, compared to 2.72% in the previous quarter and 3.47% in the year-ago quarter.

For full year 2020, the company reported adjusted net income of $565.2 million, or $3.95 per share, compared to $707.9 million, or $4.84 per share, in 2019.

The S&P Capital IQ consensus normalized EPS estimate for 2020 was $3.84.

Unadjusted net income for full year 2020 was $567.8 million, or $3.97 per share, compared with $674.0 million, or $4.61 per share, in 2019.

The company's board also declared a cash dividend of 33 cents per share, up from the previous payout of 27.5 cents per share. The dividend is payable on Feb. 23 to shareholders of record on Feb. 9.