Earnings per share of East West Bancorp, Inc (EWBC) declined by 23% quarter-over-quarter to $1.00 in the first quarter. The decline was attributable to a surge in provision expense and a dip in non-interest income, including derivative income and lending fees. Earnings will likely continue to remain lower in the remainder of the year compared to 2019. Firstly, provision expense will likely be higher in the next three quarters than the corresponding period last year, which will pressurize earnings. Moreover, the net interest margin will likely decline further in the second and third