EAST WEST BANCORP INC (EWBC): what the price assumes

In the published model solve dated 2026-Q2, anchored at $129.44, EAST WEST BANCORP INC (EWBC) is priced for 19.2% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. Narrative composed 2026-07-25.

Generated: 2026-08-30 · Exported: 2026-08-31 · Source: https://boothcheck.com/report/EWBC

Headline

What The Price Assumes (Inversion)

The assumption today's price embeds, recovered by inverting the valuation.

Solve inputs: computed at a 11.9% cost of equity; ROE searched up to the 15.1% ROE ceiling.

How unusual the bet is: elevated

Valuation X-Ray

The price is supported by asset-based and earnings-power value. A value/asset-supported name, not a pure growth bet.

How the valuation models price the stock relative to the market price. Price/FV above 1.0 means the market pays more than that lens defends (expensive); at or below 1.0 the lens can defend the price.

Families that justify the price: Asset, Earnings

The models below discount at their own flat-beta convention rates (cost of equity 9.3%, WACC 9.2%); the inversion above states its own rate.

Per-Model Detail (n=4)

Economic-Unit Decomposition (Sum Of The Parts)

The issuer is a funded financial business. Debt, interest, and cash flows are operating inputs, so industrial EV, net-debt, WACC, and free-cash-flow lenses do not apply; value the common-equity claim with book, earnings, capital, and payout economics.

No unit-level total common-equity value is stated. Each financial unit requires supported standalone common equity, normalized earnings, capital adequacy, and payout capacity. Consolidated debt, interest, and cash are operating balances, not an enterprise-to-equity bridge; company-level book, earnings, capital, and payout lenses remain the coherent cross-checks.

Solvency

Deposit/float-funded balance sheet: debt is funding, not corporate leverage, and GAAP operating cash flow follows loan flows. Net-debt, interest-coverage, and cash-burn lenses do not apply. The solvency frame for a financial is regulatory capital and payout capacity (CET1, stress buffer, dividends plus buybacks against earnings).

Bullet Takeaways

• East West Bank spends about 36 cents of every revenue dollar running itself, and that cost discipline, not any pricing advantage, is what produces the returns it earns for shareholders.
• Commercial real estate accounted for $21.3 billion of a $56.9 billion loan book at the end of 2025, and the 10-K notes that such loans "typically involve larger balances to single borrowers or groups of related borrowers".
• Most of what the bank earns stays inside it: the common dividend payout ratio was 25.30% for 2025, no stock was repurchased in the second quarter of 2026, and $117 million of authorization sits unused.

Bull Case

Begin with a number that does not fit the story you would expect. East West runs more than 110 banking locations across the United States and Asia, serves customers in English, Spanish and several Asian languages and dialects, and keeps branches in Hong Kong, China and Singapore. Complexity like that is supposed to be expensive. Yet the 10-K reports an efficiency ratio, defined there as noninterest expense divided by total revenue, of 35.69% for 2025 against 36.65% for 2024. The bank got cheaper to run while it grew. Almost everything else in this business follows from that one fact.

The second source of the return is on the funding side, and it is quieter. Noninterest-bearing deposits made up 26% of total deposits at June 30, 2026. Money that costs nothing lowers the price of everything the bank lends. The arithmetic showed up plainly in the second quarter: an average loan yield of 6.02% against an average cost of funds of 2.19%, leaving a net interest margin of 3.43%. Deposits are the raw material of a lender, and this one buys them more cheaply than most.

Behind both numbers sits a franchise that is genuinely difficult to replicate. The 10-K states that "The Bank is also the largest independent bank in the U.S. focused on the financial service needs of individuals and businesses that operate both in the U.S. and Asia, and has a strong focus on the Asian American community." A competitor can copy a product in a quarter and a branch network in a few years. It cannot manufacture forty years of relationships with families and businesses that move goods and capital in both directions across the Pacific. That is what a moat looks like in commercial banking, where every product is a commodity and the only durable advantage is knowing the borrower.

The financial record is consistent with all of it. For 2025 the bank reported net income of $1,325.2 million and diluted earnings of $9.52 a share, with a return on average assets of 1.70% and a net interest margin of 3.41%. Book value per share ended 2025 at 64.68 dollars, up from 55.79 dollars a year earlier. Total loans reached $56.9 billion and total deposits $67.1 billion. Second quarter 2026 carried the trend forward: diluted earnings of $2.63 a share, up 18% from a year earlier, on record loans of $59.0 billion and record deposits of $70.1 billion.

Compared against the banks it actually competes with, the profitability gap is wide rather than marginal. CATY, the closest niche comparison and a lender serving much the same customer base, converts 43.8% of revenue into net income; HOPE, working a parallel niche, converts 14.1%. The range within this corner of banking is enormous, and East West sits at the profitable end of it while carrying capital ratios well above what regulators demand. The bull case is not that the bank grows into something new. It is that a very well-run lender keeps being one.

Bear Case

Follow where the earnings go. East West paid out 25.30% of 2025 net income as common dividends, and in the second quarter of 2026 it repurchased no stock at all, leaving $117 million of an existing authorization untouched. Roughly two thirds of profit stays inside the bank. That is not a criticism on its own; retaining capital is correct when the retained dollar earns what the existing book earns. It is the entire argument when it does not. And the money does not sit still. It funds loan growth, which is another way of saying the shareholder's reinvestment decision is being made for them, one credit at a time.

Look at what those credits are. Commercial real estate came to $21.3 billion of the $56.9 billion held-for-investment portfolio at the end of 2025, with commercial lending as a whole at 70% of the book. The 10-K is direct about the shape of that exposure, noting that "commercial real estate (CRE) loans typically involve larger balances to single borrowers or groups of related borrowers" and that repayment depends on the properties themselves performing. It also names the geography: "natural disasters, such as wildfires and earthquakes, which are particularly prevalent in California, where a significant portion of our real estate collateral is located." Concentration in a lender is invisible for years and then is not.

The early instruments are already twitching. Nonperforming assets rose $31 million in the second quarter of 2026, to $247 million or 0.29% of total assets, and the company attributed the increase primarily to commercial real estate nonaccrual loans and other real estate owned. Net charge-offs in the quarter were $27 million, an annualized 0.19% of average loans held for investment, against $12 million and 0.09% in the prior quarter. The allowance was essentially flat over the same span, at 1.43% of loans held for investment from 1.44%. Losses doubling while the reserve ratio drifts down is not yet a problem. It is the shape a problem takes early.

The valuation makes the tolerance for that thinner than it looks. The market is paying close to twice book value for this bank. Read that the way a bank has to be read: a price-to-book multiple is a claim about the return the bank will earn on its equity, and close to twice book claims a return above what even the strongest tier of lenders has held across decades. It does not resolve into a specific sustainable number; it simply runs past the top of the scale. If the return the bank earns drifts back toward what its shareholders should require for the risk, the multiple it supports compresses toward book value, and the compression does the damage regardless of whether earnings ever fall.

Then there is the concentration nobody can hedge. The 10-K states that "A substantial number of our customers have economic and cultural ties to Asia." and, on the policy environment, that "During 2025, the U.S. significantly increased tariffs on various trading partners, however, some of these tariffs were subsequently reversed or reduced. The timing and scope of future policy shifts remain uncertain." The niche that makes the moat is the same niche that makes the exposure. Competition is arriving there too: CATY's own 10-K observes that "Banks from the Pacific Rim countries, such as Taiwan, Hong Kong, and China, also continue to open branches in the Los Angeles area, thus increasing competition in the Bank's primary markets." A specialist advantage erodes the same way it was built, one relationship at a time.

Valuation

A bank is worth the return it earns on the capital it holds, and very little else does real work in the arithmetic. On that basis the read is demanding. The market is paying close to twice book value, which is a claim about a return above what even the elite tier of banks has sustained over a span of decades. The claim does not settle onto a single number. It simply runs past the ceiling of what the record contains, and that is the honest way to state it.

The methods used to triangulate a value do not share the alarm, and the disagreement is the most interesting thing in the file. Asset-based approaches, earnings power, peer multiples and the growth-based approaches all reach the current price, and several land above it. This is not a contradiction so much as a question about what return an investor ought to demand here. Price this bank at the return an average large company owes its shareholders and the methods clear the price without difficulty. Ask for extra compensation for a book that is roughly 37% commercial real estate, concentrated in California, serving customers whose businesses straddle the U.S. and Asia, and the same price begins asking for a return the bank has not sustained. Which of those is right is the actual decision in front of a buyer, and it is not settled by the numbers.

The reported inputs are unusually clean, which makes the exercise easier than it is for most companies. For 2025 the bank reported net income of $1,325.2 million and diluted earnings of $9.52 a share, on a return on average assets of 1.70% and a net interest margin of 3.41%. Book value per share closed 2025 at 64.68 dollars against 55.79 dollars the year before. Deposits stood at 67.1 billion dollars against loans of 56.9 billion dollars, a loan-to-deposit ratio in the mid-eighties that leaves the balance sheet funded rather than stretched.

Against the peer set, the profitability is where the premium comes from rather than the growth. CATY converts 43.8% of revenue into net income on 11.4% revenue growth; WAL converts 31.9% on 11.6%; HBAN, several times larger, converts 34.2%. East West is not growing faster than these lenders in any dramatic way. It keeps a larger share of each revenue dollar and runs on a leaner cost base while doing it, and the multiple it carries reflects that rather than any expectation of a step change in scale.

The capital position is the floor under all of it, and for a bank that is the right place to end. The common equity tier 1 ratio was 15.44% at June 30, 2026 against 14.51% a year earlier, well clear of what a well-capitalized institution requires, and roughly a third of earnings has been going back out through dividends and buybacks. A bank with that much headroom does not have to sell equity to keep growing, which is the mechanism that turns an ordinary credit cycle into permanent dilution for the people who owned it beforehand. That removes one risk entirely. It leaves the other one, which is what return the buyer is entitled to expect for the concentration they are taking on.

Catalysts

Second quarter results came out on July 21, 2026, and they were strong. Net income was $364 million, or $2.63 per diluted share, up 18% from a year earlier, on total revenue of $791 million. Loans and deposits both set records, at $59.0 billion and $70.1 billion, and total assets reached $84.8 billion. Return on average assets was 1.75% for the quarter, the net interest margin was 3.43%, and the efficiency ratio was 36.7% against 36.2% in the prior quarter. Noninterest income of $106 million was itself a record, helped by higher syndication fees.

Credit is the line to watch from here, because it is the only one moving the wrong way. The provision for credit losses was $33 million in the quarter, against $36 million in the first quarter. Nonperforming assets rose to $247 million, or 0.29% of total assets, which the company attributed primarily to commercial real estate nonaccrual loans and other real estate owned, while net charge-offs more than doubled sequentially to $27 million. None of those levels is alarming in isolation for a lender of this size. The direction is what the next two quarters will settle.

On capital, the board declared a third quarter common dividend of $0.80 a share, payable August 17, 2026 to holders of record on August 3. Buybacks stayed idle through the second quarter with $117 million of authorization still available, while the common equity tier 1 ratio climbed to 15.44%. Capital is accumulating faster than it is being deployed or returned, and how management chooses to resolve that, through loan growth, an acquisition, or a larger buyback, is the most consequential decision on the near-term calendar.

Peer Cohorts (Per Segment, With Filing Citations)

Consumer and Business Banking (reported)

• EBC (Eastern Bankshares, Inc.)
• FY2025 10-K: …for construction and land development loans in excess of $500,000. For larger loans, we also will generally require an inspection of the property by an Eastern Bank-appointed construction engineer before disbursement of funds during the term of the construction loan. Small Business Loans. This category, which we…
• FY2025 10-K: …for deposits from other financial services companies such as securities brokerage firms, credit unions, insurance companies and money market funds. In consumer banking, the industry has become increasingly dependent on and oriented towards technology-driven delivery systems, permitting transactions to be conducted…
• COLB (COLUMBIA BANKING SYSTEM, INC.)
• FY2025 10-K: …our strategic branch locations, and the long-standing community presence of our associates, we believe we are well positioned to attract new customers while not only retaining existing customers but also deepening our relationships with them. We focus on balanced, relationship-driven growth in loans, deposits, and…
• FY2025 10-K: …its principal subsidiary, Columbia Bank, seeks to bank businesses of all sizes, along with their owners, executives, and employees, in addition to the residents of the communities we serve. We seek to provide our customers with the financial sophistication and product depth of a regional banking company while…
• HBAN (Huntington Bancshares Incorporated)
• FY2025 10-K: …and services to our customers and to build stronger and more profitable relationships using our OCR sales and service process, which aligns to our vision to be the leading people-first, customer-centered bank in the country. The objectives of OCR are to: • Use a consultative and advisory sales approach to provide…
• FY2025 10-K: …on two business segments: Consumer & Regional Banking and Commercial Banking. Huntington's CEO is the CODM for each of our business segments. The CODM primarily utilizes net interest income and net income attributable to Huntington to assess segment performance and to allocate resources to meet our business…
• UBSI (UNITED BANKSHARES INC/WV)
• FY2025 10-K: …and commercial customers. Digital Banking is available on a multitude of devices to include a browser-based experience, mobile (Apple, Android) and tablet applications. Digital Banking allows customers to manage their financial lives from any place they can access the internet (cellular or Wi-Fi). Customers can…
• FY2025 10-K: …banks. Among the more prominent of such laws and regulations are the Truth in Lending Act, the Home Mortgage Disclosure Act, the Truth in Savings Act, the Electronic Funds Transfer Act, the Expedited Funds Availability Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection…
• FFIN (First Financial Bankshares, Inc.)
• FY2025 10-K: …can result in significant potential liability, including actual damages, restitution and injunctive relief from litigation brought by customers, state attorney generals, the Department of Justice and other plaintiffs, as well as enforcement actions by banking regulators and reputational harm. Consumer Financial…
• FY2025 10-K: …adverse effect upon our business. Although we have a broad base of customers that are not related to us, our customers also occasionally include our officers and directors, as well as other entities with which we are affiliated. Through our bank regions we may make loans to our officers and directors, and entities…
• CATY (Cathay General Bancorp)
• FY2025 10-K: …and senior management establish, review, and modify the Bank's lending policies. These policies include (as applicable) an evaluation of a potential borrower's financial condition, ability to repay the loan, character, secondary repayment sources (such as guaranties), quality and availability of collateral, capital,…
• FY2025 10-K: …or make acquisitions on favorable terms. We face substantial competition from our competitors. We face substantial competition for deposits, loans, and for other banking services, as well as acquisitions, throughout our market area from the major banks and financial institutions that dominate the commercial banking…
• HOPE (HOPE BANCORP, INC.)
• FY2025 10-K: …short-term working capital needs. Trade finance facilities are generally provided to finance import and export activities. SBA loans are provided to small businesses under the U.S. SBA guarantee program. Short-term credit facilities (payable within one year) typically provide for periodic interest payments, with…
• FY2025 10-K: …operations. The segment is also distinguished by the level of information provided to the CODM, who uses such information to review performance of various line of businesses, which are then aggregated if operating performance, product/services, and customers are similar. The CODM evaluates the financial performance…
• WAL (WESTERN ALLIANCE BANCORPORATION)
• FY2025 10-K: …process discussed above change from time to time as systems are enhanced, methods for evaluating segment performance or product lines change or as business segments are realigned. 157 The following is a summary of reportable segment balance sheet information: Consolidated Company Commercial Consumer Related Corporate…
• FY2025 10-K: …banking subsidiary, WAB. Effective as of October 4, 2025, the Company completed its brand unity initiative, consolidating its legacy division bank brands: ABA, BON, FIB, Bridge, and TPB, under a single unified name, Western Alliance Bank. The Company also serves business customers through a national platform of…

Commercial Banking (reported)

• HBAN (Huntington Bancshares Incorporated)
• FY2025 10-K: …on two business segments: Consumer & Regional Banking and Commercial Banking. Huntington's CEO is the CODM for each of our business segments. The CODM primarily utilizes net interest income and net income attributable to Huntington to assess segment performance and to allocate resources to meet our business…
• FY2025 10-K: …branch and ATM network. Wealth Management has a comprehensive product offering, including private banking, wealth management, and legacy planning through investment and portfolio management, fiduciary administration and trust services, institutional custody services, and full-service retail brokerage investments. In…
• WAL (WESTERN ALLIANCE BANCORPORATION)
• FY2025 10-K: …FDIC Federal Deposit Insurance Corporation NYSE New York Stock Exchange BSA Bank Secrecy Act FFIEC Federal Financial Institutions Examination Council OCC Office of the Comptroller of the Currency CAMELS Capital Adequacy, Assets, Management Capability, Earnings, Liquidity, Sensitivity FHA Federal Housing…
• FY2025 10-K: …process discussed above change from time to time as systems are enhanced, methods for evaluating segment performance or product lines change or as business segments are realigned. 157 The following is a summary of reportable segment balance sheet information: Consolidated Company Commercial Consumer Related Corporate…
• CATY (Cathay General Bancorp)
• FY2025 10-K: …and senior management establish, review, and modify the Bank's lending policies. These policies include (as applicable) an evaluation of a potential borrower's financial condition, ability to repay the loan, character, secondary repayment sources (such as guaranties), quality and availability of collateral, capital,…
• FY2025 10-K: …policies. The measure of segment assets is reported on the balance sheet as total assets. The Company's operations primarily consist of commercial banking services, servicing primarily the individuals, professionals, and small to medium-sized businesses in the local markets in which its branches are located. Its…
• COLB (COLUMBIA BANKING SYSTEM, INC.)
• FY2025 10-K: …our strategic branch locations, and the long-standing community presence of our associates, we believe we are well positioned to attract new customers while not only retaining existing customers but also deepening our relationships with them. We focus on balanced, relationship-driven growth in loans, deposits, and…
• FY2025 10-K: Leasing, Inc. Fintech Financial technology FRB Federal Reserve Bank Freddie Mac Federal Home Loan Mortgage Corporation FRM Financial Risk Management group GAAP Generally Accepted Accounting Principles GDP Gross Domestic Product GNMA Government National Mortgage Association HELOC Home Equity Line of Credit HOA…
• UBSI (UNITED BANKSHARES INC/WV)
• FY2025 10-K: …and commercial customers. Digital Banking is available on a multitude of devices to include a browser-based experience, mobile (Apple, Android) and tablet applications. Digital Banking allows customers to manage their financial lives from any place they can access the internet (cellular or Wi-Fi). Customers can…
• FY2025 10-K: …District of Columbia. United categorizes these commercial loans by industry according to the North American Industry Classification System ("NAICS") to monitor the portfolio for possible concentrations in one or more industries. As of the most recent fiscal year-end, United has one such industry classification that…
• WBS (WEBSTER FINANCIAL CORPORATION)
• FY2025 10-K: …real estate loans was approximately $733.8 million, which had corresponding reserves of $36.3 million. While the Company does anticipate ongoing change in the traditional office sector, management believes that its reserve levels reflect the expected credit losses in the portfolio. 55 Table of Contents Credit…
• FY2025 10-K: , foreclosed property expense, other-non interest expense, allocated net operating costs, and allocated total support costs. (3) Intangible assets amortization, which is a component of other non-interest expense presented in Other segment items, was $ 10.7 million for Commercial Banking, $ 14.0 million for Healthcare…
• CVBF (CVB FINANCIAL CORP.)
• FY2025 10-K: Company's primary operations are related to traditional banking activities. This includes the acceptance of deposits and the lending and investing of money through the operations of the Bank. The Bank also provides trust and investment-related services to customers through its CitizensTrust Division. The Bank's…
• FY2025 10-K: …business on December 30, 1981 when, pursuant to a reorganization, it acquired all of the voting stock of Chino Valley Bank. On March 29, 1996, Chino Valley Bank changed its name to Citizens Business Bank, and on December 15, 2025, Citizens Business Bank changed its name to Citizens Business Bank, National Association…
• PB (PROSPERITY BANCSHARES, INC.)
• FY2025 10-K: …with a wide variety of banking products and services. The Company staffs its banking centers with experienced bankers who possess lending expertise to effectively serve their community and gives them authority with centralized support to make certain pricing and credit decisions, avoiding the bureaucratic structure…
• FY2025 10-K: …in civic and public service activities in the communities served by the Company. Banking A ctivities The Company, through the Bank, offers a variety of traditional loan and deposit products to its customers, which consist primarily of individual consumers and businesses throughout Texas and Oklahoma. At December 31,…

Treasury and Other (reported)

• COLB (COLUMBIA BANKING SYSTEM, INC.)
• FY2025 10-K: …2025-12-31 0000887343 us-gaap:USTreasuryAndGovernmentMember 2024-12-31 0000887343 us-gaap:USStatesAndPoliticalSubdivisionsMember 2024-12-31 0000887343 colb:ResidentialMortgageBackedSecuritiesAndCollateralizedMortgageObligationsMember 2024-12-31 0000887343 us-gaap:DebtSecuritiesMember 2025-12-31 0000887343…
• FY2025 10-K: …Average Yield (1) Available for sale: U.S. treasury and agencies One year or less $ 291 $ 291 3.57 % One to five years 1,020 991 2.67 % Five to ten years 21 18 2.60 % Total U.S. treasury and agencies 1,332 1,300 2.87 % Obligations of states and political subdivisions One year or less 52 52 3.76 % One to five years…
• CATY (Cathay General Bancorp)
• FY2025 10-K: …such amounts will be recognized. Financial Condition Total assets were $24.23 billion at December 31, 2025, an increase of $1.17 billion, or 5.1%, from $23.05 billion at December 31, 2024, primarily due to an increase of $732.7 million in net loans, an increase of $395.7 million in short-term investments and…
• FY2025 10-K: 2025-12-31 0000861842 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember 2025-12-31 0000861842 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2025-12-31 0000861842…
• HBAN (Huntington Bancshares Incorporated)
• FY2025 10-K: …Settlements provides products and services to law firms, claims administrators, and regulatory agencies to assist with settlement administration. • Treasury / Other: The Treasury / Other function includes all other items not included within our two business segments, including technology and operations, as well as…
• FY2025 10-K: 2025#OtherAssets http://fasb.org/us-gaap/2025#OtherLiabilities http://fasb.org/us-gaap/2025#OtherLiabilities http://fasb.org/us-gaap/2025#OtherAssets http://fasb.org/us-gaap/2025#OtherAssets http://fasb.org/us-gaap/2025#NoninterestIncome http://fasb.org/us-gaap/2025#NoninterestIncome…
• WAL (WESTERN ALLIANCE BANCORPORATION)
• FY2025 10-K: …us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-12-31 0001212545 wal:ConstructionAndLandDevelopmentMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-12-31 0001212545 wal:ConstructionAndLandDevelopmentMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-12-31 0001212545…
• FY2025 10-K: …2025-12-31 0001212545 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FairValueMeasurementsNonrecurringMember wal:ThirdPartyAppraisalMember us-gaap:FairValueInputsLevel3Member wal:ValuationTechniqueCollateralMethodMember srt:MaximumMember 2025-12-31 0001212545 us-gaap:LoansAndFinanceReceivablesMember…
• UBSI (UNITED BANKSHARES INC/WV)
• FY2025 10-K: …in Other income in the Consolidated Statements of Income. Securities Purchased Under Resale Agreements and Securities Sold Under Agreements to Repurchase: Securities purchased under agreements to resell and securities sold under agreements to repurchase are accounted for as collateralized financing transactions. They…
• FY2025 10-K: …us-gaap:FairValueInputsLevel2Member 2025-12-31 0000729986 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel3Member 2025-12-31 0000729986 ubsi:U.s.GovernmentAndAgenciesMember 2025-12-31 0000729986 ubsi:U.s.GovernmentAndAgenciesMember us-gaap:FairValueInputsLevel1Member 2025-12-31 0000729986…
• WBS (WEBSTER FINANCIAL CORPORATION)
• FY2025 10-K: …us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMember 2023-01-01 2023-12-31 0000801337 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2025-01-01 2025-12-31 0000801337…
• FY2025 10-K: -31 0000801337 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-12-31 0000801337 us-gaap:TreasuryStockCommonMember 2024-01-01 2024-12-31 0000801337 us-gaap:PreferredStockMember 2024-12-31 0000801337 us-gaap:CommonStockMember 2024-12-31 0000801337 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0000801337…
• FFIN (First Financial Bankshares, Inc.)
• FY2025 10-K: …to market interest rate movements, various assumptions must be made based on historical relationships of these variables in reaching any conclusion. Since these correlations are based on competitive and market conditions, we anticipate that our future results will likely be different from the foregoing estimates, and…
• FY2025 10-K: …the identity of the owners of the foreign bank, and the nature and extent of the ownership interest of each such owner; and • to ascertain whether any foreign bank provides correspondent accounts to other foreign banks and, if so, the identity of those foreign banks and related due diligence information. Under the…
• PB (PROSPERITY BANCSHARES, INC.)
• FY2025 10-K: 72,957 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 4,873,634 $ 35,917 0.74% $ 4,900,189 $ 35,342 0.72% $ 5,150,049 $ 19,554 0.38% Savings and money market deposits 8,996,090 183,146 2.04% 8,949,010 194,317 2.17% 9,129,845 168,184 1.84% Certificates and other…
• FY2025 10-K: …2025-12-31 0001068851 pb:CommercialLoanInterestRateSwapAndCapMember pb:LoanCustomerCounterpartyMember 2025-12-31 0001068851 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-12-31 0001068851 pb:FinancingReceivableNonAccrualStatusMember pb:WarehousePurchaseProgramLoansMember…

Methodology Note

• Priced-in inversion: the valuation is inverted on the current price to recover the operating-income growth, duration, and steady-state margin the price embeds (ROE for financials, FFO growth for REITs).
• Valuation x-ray: the valuation models, grouped into four families (asset, earnings, relative, growth). Each model is expressed as a price/FV ratio (distance from price), not a point fair-value estimate. The spread across families is the disagreement.
• Economic-unit decomposition (SOTP): each disclosed business unit is assigned its native valuation basis before any multiple is applied. Operating units are valued on enterprise value; funded financial units are valued on their own common equity, because their borrowings fund earning assets rather than levering the parent. A company total is stated only once every material unit carries a supported value and the parent capital bridge reconciles.
• Solvency: net cash/debt, net-debt-to-NOPAT, interest coverage, and share-count CAGR from EDGAR financials (net debt / FFO and fixed-charge coverage for REITs; regulatory-capital framing for financials).
• Peer cohorts: per-segment comparables with deep-linkable SEC filing citations.

Fundamentals sourced from SEC EDGAR filings. Current price from Databento. The priced-in inversion and valuation x-ray are computed by the boothcheck engine; narrative composed by AI from the structured data.