East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, today reported financial results for the fourth quarter and full year 2011. For the fourth quarter of 2011, net income was $66.2 million or $0.43 per dilutive share. For the full year 2011, net income was $245.2 million and net income available to common stockholders was $1.60 per dilutive share.
“East West earned $245.2 million for the full year 2011, the highest ever in our history,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “In the fourth quarter of 2011, East West earned net income of $66.2 million or $0.43 per share, up from $62.4 million or $0.41 per share in the third quarter. In fact, throughout 2011, East West consecutively increased both net income and EPS each quarter.”
Ng continued, “These strong results for the fourth quarter and full year 2011 were a direct result of our success in growing the loan portfolio and core deposits to record levels, while maintaining tight control on operating expenses and significantly reducing credit costs. Although the current environment continues to pose challenges for the financial services industry, East West has been able to outperform many of its peers. During 2011, we grew our noncovered commercial loan portfolio to $3.1 billion and increased core deposits by 16% or $1.4 billion to $10.3 billion. This growth was achieved while we maintained strong expense control and improved the efficiency ratio to 43%.”
“East West ended 2011 with record assets of $22 billion and record earnings of $245.2 million. Our balance sheet is healthy and our capital levels are excellent. As such, I am pleased to announce that the board of directors has approved a 100% increase in the annual common stock dividend rate to $0.40 per share and has also authorized the repurchase of $200 million of our common stock. As we look to 2012, we are confidentin our ability to prudently grow the balance sheet, improve our earnings power and return strong value to our shareholders,” concluded Ng.
The San Marino High School’s varsity wrestling team has not seriously
contended for a Rio Hondo League championship this century, but the
Titans have a chance to change their fortunes on Tuesday, January 31 at
3:30 p.m. when La Cañada visits the small gymnasium on the campus of
SMHS. Both schools are undefeated in league action this season and
Tuesday’s is the final team match of the season before individual
competition takes place on Saturday.
Come root on the Titans…
Visitors can experience the beauty of Chinese music, dance, and culture at a Chinese New Year festival on Saturday and Sunday, Feb. 4–5, at The Huntington Library, Art Collections, and Botanical Gardens. Celebrating the Year of the Dragon, the festival gets under way Saturday at 11 a.m. (grounds open at 10:30 a.m.) with an exuberant performance by dragon and lion dancers on the lawn near the north entrance to the Chinese Garden....Read More
Native Voices at the Autry continues its vital role as the country’s only equity theatre company dedicated exclusively to developing the work of Native American playwrights with a staged reading of HUNKA by award-winning playwright Larissa FastHorse (Sicangu Lakota Nation*) on Sunday, February 12, 2:30 pm, at the Wells Fargo Theater at The Autry National Center in Griffith Park....Read More
What is “urban sustainability?” Graduate student Julia Casillas will clarify that lofty-sounding term by taking it to a more approachable, down-to-earth level when she speaks to the Arcadia Branch of the American Association of University Women (AAUW) at its February meeting. A graduate of Arcadia High School, Casillas is now a Master’s degree candidate at Antioch University in Los Angeles and a recipient of an AAUW Educational Foundation Career Development Grant.
In her presentation, Casillas will explain that urban sustainability encompasses both the most pressing environmental issues—global warming, air and water pollution, deforesting—and social justice issues, especially as they apply to women. She emphasizes that women as “trail-blazers” should be recognized for their role in bringing environmental justice concerns into the mainstream, such as Lois Gibbs’ taking on industrial giants in the Love Canal (New York) disaster. Casillas will also touch on the growing Food Movement in which farmers’ markets, community gardens, and other grass-roots efforts are flourishing.
Casillas will present her research findings on Monday, February 13, when Arcadia AAUW meets at the Church of the Good Shepherd’s Jordan Hall, 400 W. Duarte Rd. (corner of Duarte Rd. and Holly Ave.), Arcadia. Socializing and refreshments begin at 6:30 p.m. with the program to follow at 7:00 p.m. The public is invited to this free program presented by a young woman whose interest and concern for the environment can inspire all of us.
For more information, please call Tamara Kato at (626) 375-6756 or Patricia Dietrich at (626) 446-8437....Read More
The Arcadia Chamber of Commerce has named Alice Wang the 2012-2013 Citizen of the Year....Read More
No eyebrows were raised when Bill told us he would miss the next couple weeks of our weekly volleyball and/or golf game. The mild-mannered, mostly retired pharmacist traveled frequently and we had grown accustomed to his occasional sojourns, though we dearly missed the athletic skill and dry wit he brought to the affairs.
The San Gabriel Educational Foundation (SEF) announced today that it has received a $26,000 donation from the Hilton Los Angeles/San Gabriel Hotel, located in San Gabriel, California. This gift marks the second annual significant gift to SEF from the Hilton, with the Foundation receiving a $25,000 donation in December, 2010.
This donation to SEF will help support the Foundation’s “Fund the Gap” Campaign, currently underway. With a goal of raising $150,000 by next June, “Fund the Gap” is targeted to help San Gabriel schools bridge the financial gap created by the state education budget shortfalls. The Campaign is earmarked to fund K-5 music instruction, elementary visual arts instruction, a new performing arts curriculum at Jefferson Middle School, college counseling support at Gabrielino High School, and many other vital programs and curriculum at all eight schools in the San Gabriel Unified School District (SGUSD) for the 2012-13 school year. All K-12 students in the District will benefit from the “Fund the Gap” campaign.
“As a local business, we understand the importance of partnering with and supporting our San Gabriel public schools, and giving back to the San Gabriel community,” stated Carl Bolte, General Manager of the Hilton Los Angeles/San Gabriel. “We are thrilled that all students in the SGUSD will benefit from our donation and from SEF’s ongoing support of educational excellence for our San Gabriel schools.”
With this donation, the Hilton Los Angeles/San Gabriel will once again become the ‘Valedictorian/ Presenting Sponsor’ for SEF’s upcoming gala dinner, called “SEF-APALOOZA!” The second annual fundraising dinner and auction will be held on Saturday, March 10, 2012 at the Hilton Los Angeles/San Gabriel, and will feature fine food, music, silent and live auctions, and dancing to the “Grateful Dads.” What’s more, the Hilton’s $26,000 gift signifies their inclusion in the recently launched SEF Business Alliance, which provides local businesses value-added promotion in return for their financial support of San Gabriel Unified schools.
“This donation from the Hilton Los Angeles/San Gabriel signifies their commitment to our local community and their belief in our excellent public schools,” said 2011-12 SEF President Lori Husein. “We are thrilled with their generous gift and look forward to continuing our successful partnership.”
SEF’s “Fund the Gap” Campaign will raise funds for a variety of programs and curriculum at San Gabriel’s public schools in the 2012-13 school year, including:
All Elementary Schools • K-3 Music Instruction — Fully funding a standards-based curriculum for all Kindergarteners, 1st, 2nd
and 3rd graders at all five elementary schools • Visual Arts Instruction for all 2ndand 3rdgrades at all five elementary schools • Recorder program (4thGrade), and Band/Orchestra program (5thGrade)
Jefferson Middle School • New Performing Arts/Drama Curriculum/elective • Staffing Support for new JMS Media Center • A VID Program
Gabrielino High School • College Counseling Program • After-school Staffing Support for Library • A VID Program • Mock Trial, Speech & Debate and Future Business Leaders of America Teams
The San Gabriel Educational Foundation is dedicated to enhancing educational opportunities for San Gabriel’s students by building community involvement and raising funds for the San Gabriel Unified School District. SEF is a 501(C)(3) non-profit organization and the primary fundraising partner of the San Gabriel Unified School District.
Los Angeles Chamber Orchestra (LACO) has appointed Andrew Norman
composer-in-residence for three years beginning July 2012, it was
announced by Music Director Jeffrey Kahane. The highly regarded,
prolific young composer, whose music has been hailed by The New York
Times for its “daring juxtapositions and dazzling colors” and in the Los
Angeles Times for its “Chaplinesque” wit, succeeds Derek Bermel as the
Orchestra’s eighth composer-in-residence and fifth to be appointed by
“Andrew Norman is without question one of the most extravagantly gifted
young composers working in America today, and I believe he is poised to
become one of the major figures in contemporary music,” says Kahane. “I
look forward enormously to the opportunity to work with him as he joins
a list of illustrious LACO composers-in-residence, and feel certain
that his luminous and articulate personal presence will be as welcome to
all of us as his astonishing music.”
As composer-in-residence, Norman receives a commission through LACO’s
innovative Sound Investment commissioning initiative, a program that
offers investor members the rare opportunity to create a legacy in music
and to observe first-hand the development of a new work from the
composer’s earliest ideas to the finished composition. Participants
invest $150 to $300 for a membership, which includes multiple salons
featuring in-depth discussion with the composer about his creative
process and behind-the-scenes previews of the final work. During his
tenure, various other Norman works are also slated to be featured on
LACO’s programming. Additionally, Norman serves as an advisor to Kahane
regarding promising emerging composers and artists, reviews scores
submitted to LACO, and, under the Orchestra’s auspices, visits selected
Southland high-school and college composition classes to discuss the
Norman joins LACO’s impressive roster of esteemed
composers-in-residence, which, over the years, has included, in addition
to Bermel, Paul Chihara, Kenneth Frazelle, Pierre Jalbert, Uri Caine,
Stephen Hartke and Donald Crockett, the latter two with whom Norman
studied composition while an undergraduate at USC Thornton School of
Describing the Brooklyn-based composer’s distinctive musical style, the
Los Angeles Times states, “There is no end to the odd sounds Norman
entices from a fairly conventional chamber ensemble. Strings buzzed
like insects. Winds burst in with pinpoint dabs of color.” A lifelong
enthusiast for all things architectural, Norman writes music that is
often inspired by forms and textures he encounters in the visual world
and draws on an eclectic mix of instrumental sounds and notational
practices. Born in 1979, Norman has established himself as an exciting
young composing talent. He has received commissions from the Los
Angeles Philharmonic, Minnesota Orchestra, Heidelberg Symphony
(Germany), the Oakland East Bay Symphony, the Modesto Symphony, the
Calder Quartet, the California State University Stanislaus Symphony, the
Hoff-Barthelson School and the Cascade Head Music Festival in Oregon.
He has also been commissioned by the Orpheum Foundation for the
Advancement of Young Soloists and The Colburn School in Los Angeles.
Norman was recently selected as one of four composers commissioned by
the Orpheus Chamber Orchestra for “Project 440,” a program celebrating
the orchestra’s 40th anniversary. Orpheus premiered his work for the
commission, Apart, Together, at Carnegie Hall in December 2011 and also
performed it later that month during its tour to Germany.
Norman served as the composer for the 2010-11 Heidelberg season and, in
addition to his works being performed by the orchestra that season, the
composer’s new work for theremin and orchestra, Air, premiered in
Heidelberg in April, 2011, featuring soloist Carolina Eyck. In May,
2011, John Adams led the world premiere of Norman’s Try for chamber
orchestra, on the LA Phil’s Green Umbrella series. Sonnets, for
orchestra, premiered at the Aspen Music Festival and School in August of
2011 under Hugh Wolff.
Among other highlights, Norman’s Unstuck was premiered in September 2009
by the Tonhalle-Orchester Zürich under the direction of Michael
Sanderling. Unstuck – the title of which is inspired in part by the
famous sentence “Billy Pilgrim has come unstuck in time” from Kurt
Vonnegut’s Slaughterhouse Five – is characterized by a driving energetic
pulse that recalls the feel of Norman’s brilliant work for eight
violinists, Gran Turismo. Norman’s chamber music has earned the
composer acclaim as well. In May 2008, his work Lullaby, for
mezzo-soprano and piano, premiered at the National Museum for Women in
the Arts in Washington, DC by mezzo-soprano Sasha Cooke and pianist
Pei-Yao Wang. Norman’s work for solo viola, Sabina was premiered by
Nokuthula Ngwenyama in November of that same year at the John F. Kennedy
Center in Washington, DC.
Norman’s music has been performed at the Aspen Music Festival, the
Tanglewood Festival of Contemporary Music, the Monday Evening Concerts
in Los Angeles, the MATA Festival in New York, the Chicago Chamber
Players’ Composer Perspectives Series and by the Minnesota Orchestra and
the New England Philharmonic, among others. He was a composition
fellow at the Aspen Music Festival and twice a fellow at the Chamber
Music Conference and Composers’ Forum of the East in Bennington,
Vermont. He has held residencies at the National Youth Orchestra
Festival and the Copland House.
Selected as Young Concert Artists composer-in-residence for the years
2007 through 2009, Norman is also the recipient of numerous awards,
including the Rome Prize from the American Academy in Rome, four Morton
Gould Young Composer Awards, the Leo Kaplan Prize from ASCAP and a BMI
Student Composer Award. Additionally, he has received top honors in the
National Federation of Music Club’s Composition Competition, the Music
Teachers National Association Composition Competition, the New England
Philharmonic Call for Scores and the USC Undergraduate Symposium for
Scholarly and Creative Work.
As pianist, Norman is an avid performer of contemporary music and a
committed educator. He has performed in the Los Angeles-based Ensemble
Green and served on the faculty of the Pasadena Conservatory of Music.
Norman is a graduate of the University of Southern California Thornton
School of Music, where he studied composition with Crockett and Hartke
and piano with Stewart Gordon, and was twice named the Thornton School’s
most outstanding graduate. He lives and works in Brooklyn and his music
is published worldwide exclusively by Schott Music.
LOS ANGELES CHAMBER ORCHESTRA (LACO), proclaimed “America’s finest
chamber orchestra” by Public Radio International, has established itself
among the world’s top musical ensembles. Since 1997, LACO has
performed under the baton of acclaimed conductor and pianist Jeffrey
Kahane, hailed by critics as “visionary” and “a conductor of uncommon
intellect, insight and musical integrity” with “undeniable charisma.”
Under Kahane’s leadership, the Orchestra maintains its status as a
preeminent interpreter of historical masterworks and a champion of
contemporary composers. During its 43-year history, the Orchestra has
made 30 recordings, toured Europe, South America and Japan, performed
across North America, earning adulation from audiences and critics
alike, and garnered seven ASCAP Awards for Adventurous Programming.
Headquartered in downtown Los Angeles, LACO presents seven Orchestral
Series concerts at both Glendale’s Alex Theatre and UCLA’s Royce Hall,
five Baroque Conversations concerts at downtown Los Angeles’ Zipper
Concert Hall, three Westside Connections chamber music concerts at The
Broad Stage in Santa Monica, three Family Concerts at the Alex Theatre
and an annual Discover concert at Pasadena’s Ambassador Auditorium. In
addition, LACO presents a Concert Gala, an annual Silent Film screening
at Royce Hall and several fundraising salons each year. LACO was
founded in 1968.
Former head football Coach Mike Mooney, who also served as San Marino High School’s assistant principal in charge of athletics, activities and discipline, paid $20,000 restitution to the school district and entering a guilty plea today to felony grand theft charges in a Los Angeles County courtroom.