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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K


CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)
January 23, 2025

EAST WEST BANCORP, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

000-24939
(Commission File Number)

95-4703316
(IRS Employer Identification No.)

135 North Los Robles Ave., 7th Floor, Pasadena, California 91101
(Address of principal executive offices) (Zip code)

(626) 768-6000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: 
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareEWBCThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02. Results of Operations and Financial Condition

On January 23, 2025, East West Bancorp, Inc. (the “Company”) announced its financial results for the quarter and full year ended December 31, 2024. A copy of the Company’s press release (the “Press Release”) is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 2.02. The Press Release is “furnished” pursuant to General Instruction B.2 of Form 8-K and the information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed incorporated by reference into any filings the Company has made or may make under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, except as otherwise expressly stated in such filing.

Item 7.01. Regulation FD Disclosure

On January 23, 2025, the Company will hold a conference call to discuss its financial results for the quarter and full year ended December 31, 2024 and other matters relating to the Company. The Company has also made available on its website, www.eastwestbank.com, presentation materials containing certain historical and forward-looking information relating to the Company (the “Presentation Materials”). The Presentation Materials are furnished as Exhibit 99.2 and are incorporated by reference in this Item 7.01. All information in Exhibit 99.2 is presented as of the particular date or dates referenced therein, and the Company does not undertake any obligation to, and disclaims any duty to, update any of the information provided. The information provided in Item 7.01 of this report, including Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such Section, nor shall such information be deemed incorporated by reference into any filings the Company has made or may make under the Securities Act or the Exchange Act, except as otherwise expressly stated in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits
Press Release, dated January 23, 2025.
Presentation Materials, dated January 23, 2025.
104Cover Page Interactive Data (formatted in Inline XBRL).


2




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 EAST WEST BANCORP, INC.
  
Date: January 23, 2025By:/s/ Christopher J. Del Moral-Niles 
Christopher J. Del Moral-Niles
  Executive Vice President and Chief Financial Officer


3




ewbc_logo-err011624.jpg
East West Bancorp, Inc.
135 N. Los Robles Ave., 7th Fl.
Pasadena, CA 91101
Tel. 626.768.6000
NEWS RELEASE
EAST WEST BANCORP REPORTS RECORD NET INCOME FOR FULL YEAR 2024
OF $1.2 BILLION AND DILUTED EARNINGS PER SHARE OF $8.33; INCREASES DIVIDEND AND REPURCHASE AUTHORIZATION

Pasadena, California – January 23, 2025 – East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported its financial results for the full year and fourth quarter of 2024. Full year 2024 net income was $1.2 billion, or $8.33 per diluted share. Fourth quarter 2024 net income was $293 million, or $2.10 per diluted share. Full-year returns on average assets were 1.60%, returns on average common equity were 15.9%, and book value per share grew 12% year-over-year.

“Looking back on 2024, East West marked another year of record revenue, net income and EPS, generating a 17% return on average tangible common equity1 for shareholders,” said Dominic Ng, Chairman and Chief Executive Officer. “We grew deposits by over $7 billion, reflecting the strength of our customer relationships. Fee income grew 12% year-over-year to a new record level, with notable strength in wealth management, lending, and deposit account fees,” said Ng.

“East West’s mission has always been to support the communities we serve. Our sympathy goes out to everyone affected by the devastating wildfires in Southern California, and our deep thanks goes out to the firefighters, public service workers, and volunteers on the front lines,” stated Ng. “During this unprecedented time, I am proud of the actions East West is taking to support our customers, our community, and our associates. I would like to extend special gratitude to East West’s associates for their continued dedication to our clients.”

“Given our strong capital base and industry-leading profitability, we are pleased to announce an incremental $300 million of share repurchase authorization. As we start a new year, we are also pleased to announce a 9% increase in our common stock dividend,” concluded Ng.

FINANCIAL HIGHLIGHTS

Year Ended
Year-over-Year Change
($ in millions, except per share data)December 31, 2024December 31, 2023$%
Total Revenue (FTE)
$2,619$2,609$100 %
Pre-tax, Pre-provision Income2
1,6611,586755 
Net Income1,1661,16150 
Diluted Earnings per Share$8.33$8.18$0.152 
Book Value per Share$55.79$49.64$6.1512 
Tangible Book Value per Share1
$52.39$46.27$6.1213 %
Return on Average Common Equity15.93%17.91%—-198 bps
Return on Average Tangible Common Equity1
17.05%19.35%—-230 bps
Total Stockholders’ Equity to Assets Ratio
10.17%9.98%—
19 bps
Tangible Common Equity Ratio1
9.60%9.37%—
23 bps
Total Assets$75,976$69,613$6,3639 %


1 Return on average tangible common equity, tangible book value per share, and tangible common equity ratio are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP measures in Table 13.
2 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 12.

1

BALANCE SHEET

•Assets – Total assets were $76.0 billion as of December 31, 2024, an increase of $1.5 billion from $74.5 billion as of September 30, 2024. Total cash, resale agreements, and debt securities grew 6% quarter-over-quarter. Year-over-year, total assets grew $6.4 billion, or 9%, from $69.6 billion as of December 31, 2023.

Fourth quarter 2024 average interest-earning assets of $72.2 billion were up $1.9 billion, or 3%, from $70.3 billion in the third quarter, primarily reflecting increases of $1.5 billion in average available-for-sale (“AFS”) debt securities and $0.8 billion in average total loans outstanding, partly offset by a $0.4 billion decrease in average interest-bearing cash and deposits with banks.

•Loans – Total loans were $53.7 billion as of December 31, 2024, an increase of nearly $0.5 billion from $53.3 billion as of September 30, 2024. Year-over-year, total loans were up $1.5 billion, or 3%, from $52.2 billion as of December 31, 2023.

Fourth quarter 2024 average loans of $53.2 billion grew $0.8 billion, or 1.5%, from the third quarter of 2024. The increase was primarily driven by growth in our C&I and residential mortgage lending portfolios.

•Deposits – Total deposits were $63.2 billion as of December 31, 2024, an increase of $1.5 billion, or 2%, from $61.7 billion as of September 30, 2024, primarily reflecting growth in noninterest-bearing demand and money market deposits. Noninterest-bearing deposits made up 24% of total deposits as of December 31, 2024. Year-over-year, total deposits increased $7.1 billion from $56.1 billion as of December 31, 2023.

Fourth quarter 2024 average deposits of $61.9 billion increased $1.4 billion from the third quarter of 2024, with growth in average time, noninterest-bearing demand, interest-bearing checking, and money market deposits.

•Capital – As of December 31, 2024, stockholders’ equity was $7.7 billion, up 1% quarter-over-quarter. The total stockholders’ equity to assets ratio was 10.17% as of December 31, 2024, compared with 10.29% as of September 30, 2024.

Book value per share was $55.79 as of December 31, 2024, up $0.49, or 1% quarter-over-quarter. As of December 31, 2024, tangible book value per share3 was $52.39, up $0.49, or 1% quarter-over-quarter.

East West’s regulatory capital ratios are well in excess of regulatory requirements for well-capitalized institutions, and well above regional bank averages.

CAPITAL STRENGTH

The following table presents capital metrics as of December 31, 2024, September 30, 2024 and December 31, 2023.
EWBC Capital
($ in millions)
December 31, 2024 (a)
September 30, 2024 (a)
December 31, 2023 (a)
Risk-Weighted Assets (“RWA”) (b)
$54,949$54,291$53,663
Risk-based capital ratios:
Total capital ratio15.59%15.39%14.76%
CET1 capital ratio14.28%14.08%13.31%
Tier 1 capital ratio14.28%14.08%13.31%
Leverage ratio10.42%10.40%10.21%
Total stockholders’ equity to assets ratio10.17%10.29%9.98%
Tangible common equity ratio (c)
9.60%9.72%9.37%
(a)The Company has elected to use the 2020 Current Expected Credit Losses (CECL) transition provision in the calculation of its December 31, 2024, September 30, 2024, and December 31, 2023 regulatory capital ratios. The Company’s December 31, 2024 regulatory capital ratios and RWA are preliminary.
(b)Under regulatory guidelines, on-balance sheet assets and credit equivalent amounts of derivatives and off-balance sheet items are assigned to one of several broad risk categories based on the nature of the obligor, or, if relevant, the guarantor or the nature of any collateral. The aggregate dollar value in each risk category is then multiplied by the risk weight associated with that category. The resulting weighted values from each of the risk categories are aggregated for determining total RWA.
(c)Tangible common equity ratio is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 13.
3 Tangible book value per share is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 13.

2

OPERATING RESULTS

Full Year Earnings - Full year 2024 net income was a record $1.2 billion or $8.33 per diluted share, up 0.4% and 2% year-over-year, respectively. Full year revenue was a record $2.6 billion, an increase of $6 million year-over-year. Full year pre-tax, pre-provision income4 was a record $1.7 billion, an increase of $74 million, or 5% year-over-year.

Fourth Quarter Earnings – Fourth quarter 2024 net income was $293 million or $2.10 per diluted share. Fourth quarter 2024 revenue was $676 million, up $19 million, or 3% quarter-over-quarter. Pre-tax, pre-provision income4 totaled $427 million in the fourth quarter.

Fourth Quarter 2024 Compared to Third Quarter 2024

Net Interest Income and Net Interest Margin

Net interest income totaled $588 million in the fourth quarter, an increase of 3% from $573 million in the third quarter of 2024. Net interest margin (“NIM”) was 3.24%, unchanged from the third quarter.
•The average loan yield was 6.50%, down 23 basis points from the third quarter. The average interest-earning asset yield was 5.84%, down 25 basis points from the third quarter.
•The average cost of funds was 2.87%, down 25 basis points from the third quarter. The average cost of interest-bearing deposits was 3.63%, a 30-basis point decrease from the third quarter.

Noninterest Income

Noninterest income totaled $88 million in the fourth quarter, an increase of $4 million, or 4% from $84 million in the third quarter.
•Fee income5 of $81 million was unchanged from the third quarter.
•Foreign exchange income increased $3 million in the fourth quarter, primarily reflecting a favorable change in mark-to-market adjustments on foreign exchange positions.
•Lending fees of $25 million were down $2 million in the fourth quarter, primarily reflecting lower syndication activity.
•Wealth management fees decreased $1 million quarter-over-quarter, reflecting lower customer activity.
•Derivative mark-to-market and credit valuation adjustments on customer and other derivatives was a gain of $4 million in the fourth quarter, compared with a loss of $4 million in the third quarter.
•Other investment income decreased $3 million quarter-over-quarter, reflecting lower income from investments in the fourth quarter.


Noninterest Expense

Total noninterest expense totaled $250 million in the fourth quarter, which included $19 million in tax credit and Community Reinvestment Act (“CRA”) investment amortization and $5 million of net other real estate owned (OREO) write-downs.
•Total operating noninterest expense was $231 million, an increase of $10 million, or 5% quarter-over-quarter, including $5 million of net OREO write-downs.
•Compensation and employee benefits were $140 million, an increase of $4 million, or 3%.
•Deposit account expense was $11 million, a decrease of $1 million, or 11% quarter-over-quarter.
•Occupancy and equipment expense was $16 million, a decrease of $1 million, or 4% quarter-over-quarter.
•Deposit insurance premiums and regulatory assessments were $6 million, a $3 million decrease reflecting a $3 million reversal of Federal Deposit Insurance Corporation (“FDIC”) Special Assessment-related expense.
•The efficiency ratio was 36.9% in the fourth quarter, compared with 34.3% in the third quarter.



4 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 12.
5 Fee income includes deposit account and lending fees, foreign exchange income, wealth management fees, and customer derivative income. Refer to Table 3 for additional fee and noninterest income information.

3


TAX RELATED ITEMS

Full year 2024 income tax expense was $316 million, and the effective tax rate was 21.3%, compared with income tax expense of $299 million and an effective tax rate of 20.5% for the full year of 2023. Fourth quarter 2024 income tax expense was $63 million, and the effective tax rate was 17.6%, compared with income tax expense of $90 million and 23.2% in the third quarter of 2024, primarily reflecting lower pre-tax income in the fourth quarter.


ASSET QUALITY

As of December 31, 2024, the credit quality of our loan portfolio remained solid.
•Nonperforming assets decreased $1 million to $194 million as of December 31, 2024, from $195 million as of September 30, 2024. The nonperforming assets ratio was 0.26% of total assets as of December 31, 2024, unchanged from the prior quarter.
•The criticized loans ratio increased 10 basis points quarter-over-quarter to 2.18% of loans held-for-investment (“HFI”) as of December 31, 2024, compared with 2.08% as of September 30, 2024. Criticized loans increased $63 million quarter-over-quarter to $1.2 billion as of December 31, 2024. The quarter-over-quarter change primarily reflects increases related to C&I and commercial real estate loans.
•The special mention loans ratio decreased five basis points quarter-over-quarter to 0.83% of loans HFI as of December 31, 2024, compared with 0.88% as of September 30, 2024, while the classified loans ratio increased 15 basis points to 1.35%.
•Net OREO balances decreased $6 million quarter-over-quarter to $35 million, compared with $41 million for the third quarter of 2024.
•Fourth quarter 2024 net charge-offs were $64 million, or annualized 0.48% of average loans HFI, compared with $29 million, or annualized 0.22% of average loans HFI, for the third quarter of 2024. Full year 2024 net charge-offs were $139 million, or 0.26% of average loans HFI.
•The allowance for loan losses increased to $702 million, or 1.31% of loans HFI, as of December 31, 2024, compared with $696 million, or 1.31% of loans HFI, as of September 30, 2024.
•Fourth quarter 2024 provision for credit losses was $70 million, compared with $42 million in the third quarter of 2024.


DIVIDEND PAYOUT AND CAPITAL ACTIONS

East West’s Board of Directors has declared the first quarter 2025 dividend for the Company’s common stock. The common stock cash dividend of $0.60 per share is payable on February 17, 2025 to shareholders of record as of February 3, 2025. This represents a 9% increase, or five cents per share, to the quarterly common stock dividend, up from $0.55 per share previously. The new annual dividend equivalent is $2.40 per share, compared with $2.20 per share previously.

East West repurchased approximately 200 thousand shares of common stock during the fourth quarter of 2024 for $20 million. On January 22, 2025, East West’s Board of Directors authorized the repurchase of up to $300 million of additional East West stock, resulting in $329 million of total current authorization available.


4

Conference Call

East West will host a conference call to discuss fourth quarter and full year 2024 earnings with the public on Thursday, January 23, 2025, at 2:00 p.m. PT/5:00 p.m. ET. The public and investment community are invited to listen as management discusses fourth quarter and full year 2024 results and operating developments.
•The following dial-in information is provided for participation in the conference call: calls within the U.S. or Canada – (877) 506-6399; international calls – (412) 902-6699.
•A presentation to accompany the earnings call, a listen-only live broadcast of the call, and information to access a replay one hour after the call will all be available on the Investor Relations page of the Company’s website at www.eastwestbank.com/investors.

For Investor Inquiries, Contact:
Adrienne Atkinson
Director of Investor Relations
T: (626) 788-7536
E: adrienne.atkinson@eastwestbank.com

About East West

East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: “EWBC”) with total assets of $76.0 billion as of December 31, 2024. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 110 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit www.eastwestbank.com.
































5

Forward-Looking Statements

Certain matters set forth herein (including any exhibits hereto) contain “forward-looking statements” that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. East West Bancorp, Inc. (referred to herein on an unconsolidated basis as “East West” and on a consolidated basis as the “Company,” “we,” “us,” “our” or “EWBC”) may make forward-looking statements in other documents that it files with, or furnishes to, the United States (“U.S.”) Securities and Exchange Commission (“SEC”) and management may make forward-looking statements to analysts, investors, media members and others. Forward-looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. Forward-looking statements may relate to various matters, including the Company’s financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as “anticipates,” “assumes,” “believes,” “can,” “continues,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “likely,” “may,” “might,” “objective,” “plans,” “potential,” “projects,” “remains,” “should,” “target,” “trend,” “will,” “would,” or similar expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties.

Factors that might cause future results to differ materially from historical performance and any forward-looking statements include, but are not limited to: changes in local, regional and global business, economic and political conditions and natural or geopolitical events; the soundness of other financial institutions and the impacts related to or resulting from bank failures and other industry volatility, including potential increased regulatory requirements, FDIC insurance premiums and assessments, and deposit withdrawals; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws and current or potential disputes between the U.S. and the People’s Republic of China; changes in the commercial and consumer real estate markets; changes in consumer or commercial spending, savings and borrowing habits, and patterns and behaviors; the Company’s ability to compete effectively against financial institutions and other entities, including as a result of emerging technologies; the success and timing of the Company’s business strategies; the Company’s ability to retain key officers and employees; changes in key variable market interest rates, competition, regulatory requirements and product mix; changes in the Company’s costs of operation, compliance and expansion; disruption, failure in, or breach of, the Company’s operational or security systems or infrastructure, or those of third party vendors with which the Company does business, including as a result of cyber-attacks, and the disclosure or misuse of confidential information; the adequacy of the Company’s risk management framework; future credit quality and performance, including expectations regarding future credit losses and allowance levels; adverse changes to the Company’s credit ratings; legal proceedings, regulatory investigations and their resolution; the Company’s capital requirements and its ability to generate capital internally or raise capital on favorable terms; the impact on the Company’s liquidity due to changes in the Company’s ability to receive dividends from its subsidiaries; any strategic acquisitions or divestitures and the introduction of new or expanded products and services or other events that may directly or indirectly result in a negative impact on the financial performance of the Company and its customers.

For a more detailed discussion of some of the factors that might cause such differences, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 29, 2024 under the heading Item 1A. Risk Factors. You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to the Company. The Company does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.
6

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
($ and shares in thousands, except per share data)
(unaudited)
Table 1   
December 31, 2024
% or Basis Point Change
 December 31, 2024September 30, 2024December 31, 2023Qtr-o-QtrYr-o-Yr
Assets   
Cash and cash equivalents, and deposits with banks
$5,298,940$4,976,174$4,625,4826.5 %14.6 %
 Securities purchased under resale agreements (“resale agreements”)425,000425,000785,000— (45.9)
 
Available-for-sale (“AFS”) debt securities (amortized cost of $11,505,775, $10,667,293 and $6,916,491)
10,846,81110,133,8776,188,3377.0 75.3 
Held-to-maturity (“HTM”) debt securities, at amortized cost (fair value of $2,387,754, $2,510,352 and $2,453,971)
2,917,4132,928,3992,956,040(0.4)(1.3)
Total cash, resale agreements and debt securities
19,488,16418,463,45014,554,8595.5 33.9 
 Loans held-for-sale (“HFS”)——116— (100.0)
 
Loans held-for-investment (“HFI”) (net of allowance for loan losses of $702,052, $696,485 and $668,743)
53,024,58552,556,69651,542,0390.9 2.9 
Affordable housing partnership, tax credit and Community Reinvestment Act (“CRA”) investments, net926,640924,439905,0360.2 2.4 
 Goodwill465,697465,697465,697— — 
Operating lease right-of-use assets81,96782,77594,024(1.0)(12.8)
 Other assets 1,989,4221,990,6632,051,113(0.1)(3.0)
 Total assets $75,976,475$74,483,720$69,612,8842.0 %9.1 %
Liabilities and Stockholders’ Equity   
 Deposits$63,175,023$61,700,115$56,092,4382.4 %12.6 %
Bank Term Funding Program (“BTFP”) borrowings
——4,500,000— (100.0)
Federal Home Loan Bank (“FHLB”) advances3,500,0003,500,000— — 100.0 
 Long-term debt and finance lease liabilities35,97436,055153,011(0.2)(76.5)
Operating lease liabilities 89,26390,369102,353(1.2)(12.8)
 Accrued expenses and other liabilities1,453,1611,492,6421,814,248(2.6)(19.9)
 Total liabilities68,253,42166,819,18162,662,0502.1 8.9 
 Stockholders’ equity7,723,0547,664,5396,950,8340.8 11.1 
 Total liabilities and stockholders’ equity $75,976,475$74,483,720$69,612,8842.0 %9.1 %
Total cash, resale agreements and debt securities/total assets
25.65 %24.79 %20.91 %86 bps474 bps
Total stockholders’ equity to assets ratio10.17 %10.29 %9.98 %(12)19 
Tangible common equity (“TCE”) ratio (1)
9.60 %9.72 %9.37 %(12)bps23 bps
Book value per share $55.79$55.30$49.640.9 %12.4 %
Tangible book value (1) per share
$52.39$51.90$46.270.9 13.2 
Number of common shares at period-end138,437138,609140,027(0.1)%(1.1)%
(1)The TCE ratio and the tangible book value are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP measures in Table 13.
7

EAST WEST BANCORP, INC. AND SUBSIDIARIES
TOTAL LOANS AND DEPOSITS DETAIL
($ in thousands)
(unaudited)
Table 2
December 31, 2024
% Change
  December 31, 2024September 30, 2024December 31, 2023Qtr-o-QtrYr-o-Yr
Loans:   
Commercial:
Commercial and industrial (“C&I”)$17,397,158 $17,068,002 $16,581,079 1.9 %4.9 %
Commercial real estate (“CRE”):
 CRE14,655,340 14,568,209 14,777,081 0.6 (0.8)
 Multifamily residential4,953,442 5,141,481 5,023,163 (3.7)(1.4)
 Construction and land666,162 693,775 663,868 (4.0)0.3 
Total CRE20,274,944 20,403,465 20,464,112 (0.6)(0.9)
Consumer:
Residential mortgage:
 Single-family residential14,175,446 13,963,097 13,383,060 1.5 5.9 
 Home equity lines of credit (“HELOCs”)1,811,628 1,760,716 1,722,204 2.9 5.2 
Total residential mortgage15,987,074 15,723,813 15,105,264 1.7 5.8 
Other consumer67,461 57,901 60,327 16.5 11.8 
Total loans HFI (1)
53,726,637 

53,253,181 

52,210,782 0.9 2.9 
Loans HFS— — 116 — (100.0)
 
Total loans (1)
53,726,637 53,253,181 52,210,898 0.9 2.9 
Allowance for loan losses(702,052)(696,485)(668,743)0.8 5.0 
 
Net loans (1)
$53,024,585 $52,556,696 $51,542,155 0.9 %2.9 %
Deposits by product:
   
 Noninterest-bearing demand$15,450,428 $14,690,864 $15,539,872 5.2 %(0.6)%
 Interest-bearing checking7,940,692 8,052,720 7,558,908 (1.4)5.1 
 Money market14,816,511 14,021,042 13,108,727 5.7 13.0 
 Savings1,751,620 1,718,378 1,841,467 1.9 (4.9)
 Time deposits23,215,772 23,217,111 18,043,464 0.0 28.7 
 Total deposits$63,175,023 $61,700,115 $56,092,438 2.4 %12.6 %
Deposits by segment/region:
Consumer and Business Banking - U.S. (2)
$32,832,926 $32,104,904 $28,571,255 2.3 %14.9 %
Commercial Banking - U.S. (2)
23,405,769 23,212,616 22,059,662 0.8 6.1 
International Branches (3)
3,412,262 3,307,793 3,172,221 3.2 7.6 
Treasury and Other - U.S. (4)
3,524,066 3,074,802 2,289,299 14.6 53.9 
Total deposits$63,175,023 $61,700,115 $56,092,437 2.4 %12.6 %
(1)Includes $46 million, $52 million and $71 million of net deferred loan fees and net unamortized premiums as of December 31, 2024, September 30, 2024 and December 31, 2023, respectively.
(2)Excludes deposits presented under International Branches.
(3)Deposits of our Hong Kong branch and China subsidiary, primarily a subset of Commercial Banking segment deposits.
(4)Treasury and Other segment deposits reflect wholesale, public funds, and brokered deposits, primarily managed by the Company’s Treasury department.
8

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME
($ and shares in thousands, except per share data)
(unaudited)
Table 3
Three Months Ended
December 31, 2024
% Change
December 31, 2024September 30, 2024December 31, 2023Qtr-o-QtrYr-o-Yr
Interest and dividend income$1,059,266 $1,075,899 $990,378 (1.5)%7.0%
Interest expense471,640 503,177 415,544 (6.3)13.5
Net interest income before provision for credit losses587,626 572,722 574,834 2.62.2
Provision for credit losses70,000 42,000 37,000 66.789.2
Net interest income after provision for credit losses517,626 530,722 537,834 (2.5)%(3.8)%
Noninterest income:
Deposit account fees26,468 26,815 23,828 (1.3)%11.1%
 Lending fees24,737 26,453 22,077 (6.5)12.0
 Foreign exchange income16,643 13,569 13,404 22.724.2
 Wealth management fees9,829 10,683 7,780 (8.0)26.3
Customer derivative income
3,782 3,774 6,297 0.2(39.9)
Total fee income81,459 81,294 73,386 0.211.0
Derivative mark-to-market and credit valuation adjustments
3,811 (4,480)(7,242)NMNM
 
Net gains on sales of loans
8 21 3,675 (61.9)(99.8)
 Net gains on AFS debt securities90 145 3,138 (37.9)(97.1)
Other investment (loss) income
(590)2,800 1,673 NMNM
Other income3,388 4,615 5,273 (26.6)(35.7)
Total noninterest income88,166 84,395 79,903 4.5%10.3%
Noninterest expense:  
 Compensation and employee benefits139,870 135,464 130,794 3.3%6.9%
 Occupancy and equipment expense16,384 17,001 15,735 (3.6)4.1
Deposit account expense10,923 12,229 11,390 (10.7)(4.1)
Computer and software related expenses13,099 11,436 11,315 14.515.8
 
Deposit insurance premiums and regulatory assessments (1)
6,201 9,178 78,553 (32.4)(92.1)
 Other operating expense44,108 34,892 38,130 26.415.7
Total operating noninterest expense
230,585 220,200 285,917 4.7(19.4)
Amortization of tax credit and CRA investments (2)
19,383 5,600 4,581 246.1323.1
Total noninterest expense249,968 225,800 290,498 10.7(14.0)
Income before income taxes 355,824 389,317 327,239 (8.6)8.7
Income tax expense62,709 90,151 88,286 (30.4)(29.0)
Net income $293,115 $299,166 $238,953 (2.0)%22.7%
Earnings per share (“EPS”)   
- Basic$2.11 $2.16 $1.70 (2.0)%24.4%
- Diluted $2.10 $2.14 $1.69 (2.2)24.0
Weighted-average number of shares outstanding
- Basic138,604 138,606 140,595 0.0%(1.4)%
- Diluted 139,883 139,648 141,409 0.2(1.1)
NM - Not meaningful.
(1)Includes $3 million of FDIC special assessment reversal and $70 million of FDIC special assessment charges for the three months ended December 31, 2024 and 2023, respectively.
(2)Includes $343 thousand, $11 million and $4 million in DC Solar recoveries for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively.

9

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME
($ and shares in thousands, except per share data)
(unaudited)
Table 4
 Year Ended
December 31, 2024 % Change
  December 31, 2024December 31, 2023Yr-o-Yr
Interest and dividend income$4,193,196 $3,693,805 13.5%
Interest expense1,914,480 1,381,551 38.6
Net interest income before provision for credit losses2,278,716 2,312,254 (1.5)
Provision for credit losses174,000 125,000 39.2
Net interest income after provision for credit losses2,104,716 2,187,254 (3.8)%
Noninterest income:
Deposit account fees103,880 93,811 10.7%
Lending fees98,455 83,876 17.4
Foreign exchange income54,605 48,276 13.1
Wealth management fees38,627 26,994 43.1
Customer derivative income14,923 23,216 (35.7)
Total fee income310,490 276,173 12.4
Derivative mark-to-market and credit valuation adjustments
1,478 (3,016)NM
Net gains on sales of loans
44 3,634 (98.8)
Net gains (losses) on AFS debt securities (1)
2,069 (6,862)NM
Other investment income5,611 9,348 (40.0)
Other income15,526 15,987 (2.9)
Total noninterest income335,218 295,264 13.5%
Noninterest expense
 Compensation and employee benefits550,734 508,538 8.3%
 Occupancy and equipment expense64,399 62,763 2.6
Deposit account expense47,390 43,143 9.8
Computer and software related expenses47,271 44,475 6.3
 
Deposit insurance premiums and regulatory assessments (2)
45,736 103,308 (55.7)
 
Other operating expense (3)
148,301 140,222 5.8
Total operating noninterest expense903,831 902,449 0.2
Amortization of tax credit and CRA investments (4)
54,242 120,299 (54.9)
Total noninterest expense958,073 1,022,748 (6.3)
Income before income taxes 1,481,861 1,459,770 1.5
Income tax expense316,275 298,609 5.9
Net income $1,165,586 $1,161,161 0.4%
EPS  
- Basic$8.39 $8.23 2.0%
- Diluted $8.33 $8.18 1.8
Weighted-average number of shares outstanding
- Basic138,898 141,164 (1.6)%
- Diluted 139,958 141,902 (1.4)
NM - Not meaningful.
(1)Includes $7 million of net losses on an AFS debt security for the twelve months ended December 31, 2023.
(2)Includes $9 million and $70 million of FDIC special assessment charges for the twelve months ended December 31, 2024 and 2023, respectively.
(3)Includes $4 million of repurchase agreements’ extinguishment cost for the twelve months ended December 31, 2023.
(4)Includes $15 million and $9 million of DC Solar recoveries for the twelve months ended December 31, 2024 and 2023, respectively.
10

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED AVERAGE BALANCES
($ in thousands)
(unaudited)
Table 5
Three Months Ended
December 31,
2024
% Change
Year Ended
December 31,
2024
% Change
  December 31, 2024September 30, 2024December 31, 2023Qtr-o-QtrYr-o-YrDecember 31, 2024December 31, 2023Yr-o-Yr
Loans:     
Commercial:
 C&I$17,010,327 $16,492,589 $15,948,678 3.1%6.7%$16,492,472 $15,499,899 6.4%
CRE:
 CRE14,580,509 14,483,163 14,723,027 0.7(1.0)14,587,444 14,312,459 1.9
 Multifamily residential5,046,676 5,127,659 4,939,119 (1.6)2.25,061,821 4,756,885 6.4
 Construction and land680,374 661,840 752,783 2.8(9.6)666,748 754,928 (11.7)
Total CRE20,307,559 20,272,662 20,414,929 0.2(0.5)20,316,013 19,824,272 2.5
Consumer:
Residential mortgage:
 Single-family residential14,048,515 13,846,946 13,097,056 1.57.313,753,295 12,274,776 12.0
 HELOCs1,775,587 1,754,361 1,732,348 1.22.51,751,500 1,881,008 (6.9)
Total residential mortgage15,824,102 15,601,307 14,829,404 1.46.715,504,795 14,155,784 9.5
Other consumer59,273 53,958 59,245 9.90.055,500 65,181 (14.9)
 
Total loans (1)
$53,201,261 $52,420,516 $51,252,256 1.5%3.8%$52,368,780 $49,545,136 5.7%
Interest-earning assets$72,150,099 $70,263,495 $65,505,724 2.7%10.1%$69,718,884 $64,039,402 8.9%
Total assets$75,121,440 $73,268,158 $69,421,959 2.5%8.2%$72,821,842 $67,757,505 7.5%
Deposits:     
Noninterest-bearing demand$14,973,805 $14,606,511 $15,884,525 2.5%(5.7)%$14,799,961 $17,192,978 (13.9)%
Interest-bearing checking7,998,098 7,762,719 7,608,234 3.05.17,731,828 7,658,414 1.0
Money market14,313,494 14,201,258 12,824,121 0.811.613,970,375 11,680,540 19.6
Savings1,731,414 1,744,644 1,873,276 (0.8)(7.6)1,770,041 2,128,943 (16.9)
Time deposits22,931,856 22,270,124 17,216,367 3.033.221,400,834 16,301,856 31.3
Total deposits$61,948,667 $60,585,256 $55,406,523 2.3%11.8%$59,673,039 $54,962,731 8.6%
(1)Includes loans HFS.

11

EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 6
  Three Months Ended
  December 31, 2024September 30, 2024
  
Average Balance
Interest
Average Yield/Rate (1)
Average Balance
Interest
Average Yield/Rate (1)
Assets      
Interest-earning assets:      
 Interest-bearing cash and deposits with banks$4,585,135 $47,946 4.16 %$4,987,191 $60,060 4.79 %
 Resale agreements425,000 1,591 1.49 %443,261 1,663 1.49 %
Debt securities:
 AFS10,852,569 125,628 4.61 %9,316,232 111,552 4.76 %
HTM2,921,096 12,330 1.68 %2,931,033 12,431 1.69 %
Total debt securities13,773,665 137,958 3.98 %12,247,265 123,983 4.03 %
Loans:
C&I17,010,327 317,374 7.42 %16,492,589 328,619 7.93 %
CRE20,307,559 317,526 6.22 %20,272,662 328,254 6.44 %
Residential mortgage15,824,102 233,147 5.86 %15,601,307 229,727 5.86 %
Other consumer59,273 749 5.03 %53,958 753 5.55 %
 
Total loans (2)
53,201,261 868,796 6.50 %52,420,516 887,353 6.73 %
 FHLB and FRB stock165,038 2,975 7.17 %165,262 2,840 6.84 %
 Total interest-earning assets$72,150,099 $1,059,266 5.84 %$70,263,495 $1,075,899 6.09 %
Noninterest-earning assets:      
 Cash and due from banks381,012 341,856   
 Allowance for loan losses(707,689)(691,399)  
 Other assets 3,298,018 3,354,206   
 Total assets$75,121,440   $73,268,158   
Liabilities and Stockholders’ Equity     
Interest-bearing liabilities:      
 Checking deposits $7,998,098 $56,640 2.82 %$7,762,719 $58,226 2.98 %
 Money market deposits14,313,494 119,420 3.32 %14,201,258 136,384 3.82 %
 Savings deposits1,731,414 3,829 0.88 %1,744,644 4,811 1.10 %
 Time deposits22,931,856 248,533 4.31 %22,270,124 254,650 4.55 %
Total interest-bearing deposits
46,974,862 428,422 3.63 %45,978,745 454,071 3.93 %
 
Short-term borrowings and federal funds purchased
783 9 4.57 %1,170 16 5.44 %
 FHLB advances3,500,001 42,429 4.82 %3,440,219 48,261 5.58 %
Assets sold under repurchase agreements (“repurchase agreements”)4,337 55 5.05 %3,455 49 5.64 %
 Long-term debt and finance lease liabilities36,123 725 7.98 %36,084 780 8.60 %
 Total interest-bearing liabilities$50,516,106 $471,640 3.71 %$49,459,673 $503,177 4.05 %
Noninterest-bearing liabilities and stockholders’ equity:    
 Demand deposits14,973,805 14,606,511 
 Accrued expenses and other liabilities1,900,205 1,758,641 
 Stockholders’ equity 7,731,324 7,443,333 
 Total liabilities and stockholders’ equity $75,121,440 $73,268,158 
Total deposits
$61,948,667 $428,422 2.75 %$60,585,256 $454,071 2.98 %
Interest rate spread 2.13 %2.04 %
Net interest income and net interest margin $587,626 3.24 %$572,722 3.24 %
(1)Annualized.
(2)Includes loans HFS.
12

EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 7
 Three Months Ended
December 31, 2024December 31, 2023
Average Balance
Interest
Average Yield/Rate (1)
Average Balance
Interest
Average Yield/Rate (1)
Assets      
Interest-earning assets:      
 Interest-bearing cash and deposits with banks$4,585,135 $47,946 4.16 %$4,445,115 $56,250 5.02 %
 
Resale agreements
425,000 1,591 1.49 %785,000 7,232 3.66 %
Debt securities:
 AFS10,852,569 125,628 4.61 %5,985,361 58,926 3.91 %
HTM2,921,096 12,330 1.68 %2,958,294 12,585 1.69 %
Total debt securities13,773,665 137,958 3.98 %8,943,655 71,511 3.17 %
Loans:
C&I17,010,327 317,374 7.42 %15,948,678 321,026 7.99 %
CRE20,307,559 317,526 6.22 %20,414,929 327,194 6.36 %
Residential mortgage15,824,102 233,147 5.86 %14,829,404 205,371 5.49 %
Other consumer59,273 749 5.03 %59,245 786 5.26 %
 
Total loans (2)
53,201,261 868,796 6.50 %51,252,256 854,377 6.61 %
 FHLB and FRB stock165,038 2,975 7.17 %79,698 1,008 5.02 %
 Total interest-earning assets$72,150,099 $1,059,266 5.84 %$65,505,724 $990,378 6.00 %
Noninterest-earning assets:      
 Cash and due from banks381,012 489,055   
 Allowance for loan losses(707,689)(650,724)  
 Other assets 3,298,018 4,077,904   
 Total assets$75,121,440   $69,421,959   
Liabilities and Stockholders’ Equity     
Interest-bearing liabilities:      
 Checking deposits $7,998,098 $56,640 2.82 %$7,608,234 $52,170 2.72 %
 Money market deposits 14,313,494 119,420 3.32 %12,824,121 123,744 3.83 %
 Savings deposits 1,731,414 3,829 0.88 %1,873,276 3,894 0.82 %
 Time deposits 22,931,856 248,533 4.31 %17,216,367 183,175 4.22 %
Total interest-bearing deposits
46,974,862 428,422 3.63 %39,521,998 362,983 3.64 %
 
Short-term borrowings and federal funds purchased
783 9 4.57 %4,500,475 49,570 4.37 %
Repurchase agreements4,337 55 5.05 %2,876 41 5.66 %
 FHLB advances3,500,001 42,429 4.82 %1 — — %
 Long-term debt and finance lease liabilities36,123 725 7.98 %153,010 2,950 7.65 %
 Total interest-bearing liabilities$50,516,106 $471,640 3.71 %$44,178,360 $415,544 3.73 %
Noninterest-bearing liabilities and stockholders’ equity:     
 Demand deposits 14,973,805 15,884,525 
 Accrued expenses and other liabilities1,900,205 2,663,222 
 Stockholders’ equity 7,731,324 6,695,852 
 Total liabilities and stockholders’ equity $75,121,440 $69,421,959 
Total deposits
$61,948,667 $428,422 2.75 %$55,406,523 $362,983 2.60 %
Interest rate spread 2.13 %2.27 %
Net interest income and net interest margin $587,626 3.24 %$574,834 3.48 %
(1)Annualized.
(2)Includes loans HFS.
13

EAST WEST BANCORP, INC. AND SUBSIDIARIES
YEAR-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 8
 Year Ended
December 31, 2024December 31, 2023
Average Balance
Interest
Average Yield/Rate
Average Balance
Interest
Average Yield/Rate
Assets      
Interest-earning assets:      
 Interest-bearing cash and deposits with banks$4,936,550 $231,794 4.70 %$4,638,630 $220,643 4.76 %
 
Assets purchased under resale agreements (1)
519,263 11,254 2.17 %691,223 20,164 2.92 %
Debt securities:
 AFS8,811,274 399,280 4.53 %6,105,999 225,592 3.69 %
HTM2,935,937 49,785 1.70 %2,976,237 50,598 1.70 %
Total debt securities11,747,211 449,065 3.82 %9,082,236 276,190 3.04 %
Loans:
C&I16,492,472 1,294,451 7.85 %15,499,899 1,190,940 7.68 %
CRE20,316,013 1,292,973 6.36 %19,824,272 1,227,795 6.19 %
Residential mortgage15,504,795 900,514 5.81 %14,155,784 750,813 5.30 %
Other consumer55,500 3,041 5.48 %65,181 3,198 4.91 %
 
Total loans (2)
52,368,780 3,490,979 6.67 %49,545,136 3,172,746 6.40 %
 FHLB and FRB stock147,080 10,104 6.87 %82,177 4,062 4.94 %
 Total interest-earning assets$69,718,884 $4,193,196 6.01 %$64,039,402 $3,693,805 5.77 %
Noninterest-earning assets:      
 Cash and due from banks345,056 555,689   
 Allowance for loan losses(688,448)(625,785)  
 Other assets 3,446,350 3,788,199   
 Total assets$72,821,842 $67,757,505   
Liabilities and Stockholders’ Equity     
Interest-bearing liabilities:      
 Checking deposits$7,731,828 $221,367 2.86 %$7,658,414 $179,200 2.34 %
 Money market deposits13,970,375 525,870 3.76 %11,680,540 399,482 3.42 %
 Savings deposits1,770,041 17,764 1.00 %2,128,943 15,573 0.73 %
 Time deposits21,400,834 955,173 4.46 %16,301,856 611,295 3.75 %
Total interest-bearing deposits
44,873,078 1,720,174 3.83 %37,769,753 1,205,550 3.19 %
 
BTFP, short-term borrowings and federal funds purchased
962,061 42,163 4.38 %3,591,114 157,002 4.37 %
 FHLB advances2,752,733 147,269 5.35 %123,288 6,430 5.22 %
 Repurchase agreements3,613 197 5.45 %34,443 1,497 4.35 %
Long-term debt and finance lease liabilities58,467 4,677 8.00 %152,790 11,072 7.25 %
 Total interest-bearing liabilities$48,649,952 $1,914,480 3.94 %$41,671,388 $1,381,551 3.32 %
Noninterest-bearing liabilities and stockholders’ equity:
 Demand deposits14,799,961 17,192,978 
 Accrued expenses and other liabilities2,056,755 2,410,154 
 Stockholders’ equity 7,315,174 6,482,985 
 Total liabilities and stockholders’ equity $72,821,842 $67,757,505 
Total deposits
$59,673,039 $1,720,174 2.88 %$54,962,731 $1,205,550 2.19 %
Interest rate spread 2.07 %2.45 %
Net interest income and net interest margin $2,278,716 3.27 %$2,312,254 3.61 %
(1)Includes the average balances and interest income for securities and loans purchased under resale agreements for the twelve months ended December 31, 2023. There were no loans purchased under resale agreements for the twelve months ended December 31, 2024.
(2)Includes loans HFS.

14

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED RATIOS
(unaudited)
Table 9
Three Months Ended (1)
December 31, 2024
Basis Point Change
  December 31,
2024		September 30,
2024		December 31,
2023		Qtr-o-QtrYr-o-Yr
 Return on average assets1.55 %1.62 %1.37 %(7)bps18 bps
 Return on average common equity 15.08 %15.99 %14.16 %(91)92 
Return on average TCE (2)
16.07 %17.08 %15.26 %(101)81 
 Interest rate spread2.13 %2.04 %2.27 %9 (14)
 Net interest margin3.24 %3.24 %3.48 %— (24)
Average loan yield6.50 %6.73 %6.61 %(23)(11)
 Yield on average interest-earning assets5.84 %6.09 %6.00 %(25)(16)
Average cost of interest-bearing deposits3.63 %3.93 %3.64 %(30)(1)
 Average cost of deposits2.75 %2.98 %2.60 %(23)15 
 Average cost of funds2.87 %3.12 %2.74 %(25)13 
Operating noninterest expense/average assets
1.22 %1.20 %1.63 %2 (41)
Efficiency ratio
36.92 %34.34 %44.34 %258 (742)
Effective tax rate
17.62 %23.16 %26.98 %(554)bps(936)
bps
Year EndedDecember 31, 2024
Basis Point Change
December 31,
2024		December 31,
2023		Yr-o-Yr
Return on average assets1.60 %1.71 %(11)bps
Return on average common equity 15.93 %17.91 %(198)
Return on average TCE (2)
17.05 %19.35 %(230)
Interest rate spread2.07 %2.45 %(38)
Net interest margin3.27 %3.61 %(34)
Average loan yield6.67 %6.40 %27 
Yield on average interest-earning assets6.01 %5.77 %24 
Average cost of interest-bearing deposits3.83 %3.19 %64 
Average cost of deposits2.88 %2.19 %69 
Average cost of funds3.02 %2.35 %67 
Operating noninterest expense/average assets
1.24 %1.33 %(9)
Efficiency ratio
36.59 %39.20 %(261)
Effective tax rate
21.34 %20.46 %88 bps
December 31, 2024
Basis Point Change
December 31,
2024		September 30,
2024		December 31,
2023		Qtr-o-QtrYr-o-Yr
Loan-to-deposit ratio
85.04 %86.31 %93.08 %(127)(804)
(1)Annualized except for efficiency ratio and effective tax rate.
(2)Return on average TCE is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 13.


15

EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE SHEET CREDIT EXPOSURES
($ in thousands)
(unaudited)
Table 10
Three Months Ended December 31, 2024
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses,
September 30, 2024
$378,315 $221,244 $31,782 $12,208 $48,231 $3,210 $1,495 $696,485 
Provision for (reversal of) credit losses on loans(a)66,318 (2,634)149 5,286 (3,416)(81)3,921 69,543 
Gross charge-offs(62,021)(1)(4)— — (5)(3,922)(65,953)
Gross recoveries2,140 68 190 3 1 8 — 2,410 
Total net (charge-offs) recoveries(59,881)67 186 3 1 3 (3,922)(63,543)
Foreign currency translation adjustment(433)— — — — — — (433)
Allowance for loan losses, December 31, 2024$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 


Three Months Ended September 30, 2024
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses, June 30, 2024$379,984 $194,794 $40,254 $14,322 $49,523 $3,340 $1,577 $683,794 
Provision for (reversal of) credit losses on loans(a)26,416 27,123 (8,493)(1,975)(1,293)(128)67 41,717 
Gross charge-offs(29,260)(734)— (145)— (10)(149)(30,298)
Gross recoveries838 61 21 6 1 8 — 935 
Total net (charge-offs) recoveries (28,422)(673)21 (139)1 (2)(149)(29,363)
Foreign currency translation adjustment337 — — — — — — 337 
Allowance for loan losses, September 30, 2024$378,315 $221,244 $31,782 $12,208 $48,231 $3,210 $1,495 $696,485 


Three Months Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses,
September 30, 2023
$383,677 $178,040 $24,162 $9,216 $54,930 $3,795 $1,703 $655,523 
Provision for (reversal of) credit losses on loans(a)27,732 (6,306)10,151 1,030 88 145 50 32,890 
Gross charge-offs(20,264)(1,210)(3)— — — (96)(21,573)
Gross recoveries1,248 68 65 223 — 7 — 1,611 
Total net (charge-offs) recoveries (19,016)(1,142)62 223 — 7 (96)(19,962)
Foreign currency translation adjustment292 — — — — — — 292 
Allowance for loan losses, December 31, 2023$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 
16

EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE-SHEET CREDIT EXPOSURES
($ in thousands)
(unaudited)
Table 10 (continued)
Year Ended December 31, 2024
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses, December 31, 2023
$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 
Provision for (reversal of) credit losses on loans(a)110,791 61,908 (2,684)9,114 (10,176)(873)4,096 172,176 
Gross charge-offs(125,413)(14,236)(10)(2,289)(35)(15)(4,259)(146,257)
Gross recoveries6,505 413 436 203 9 73 — 7,639 
Total net (charge-offs) recoveries(118,908)(13,823)426 (2,086)(26)58 (4,259)(138,618)
Foreign currency translation adjustment(249)— — — — — — (249)
Allowance for loan losses, December 31, 2024$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 
Year Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses, December 31, 2022$371,700 $149,864 $23,373 $9,109 $35,564 $4,475 $1,560 $595,645 
Impact of ASU 2022-02 adoption5,683 337 6 — 1 1 — 6,028 
Allowance for loan losses, January 1, 2023$377,383 150,201 23,379 9,109 35,565 4,476 $1,560 $601,673 
Provision for (reversal of) credit losses on loans(a)45,319 27,007 10,454 11,537 19,384 (424)294 113,571 
Gross charge-offs(36,573)(7,048)(3)(10,413)— (138)(197)(54,372)
Gross recoveries6,803 432 545 236 69 33 — 8,118 
Total net (charge-offs) recoveries(29,770)(6,616)542 (10,177)69 (105)(197)(46,254)
Foreign currency translation adjustment(247)— — — — — — (247)
Allowance for loan losses, December 31, 2023$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 

Three Months EndedYear Ended
($ in thousands)December 31,
2024		September 30,
2024		December 31,
2023		December 31,
2024		December 31,
2023
Unfunded Credit Facilities
Allowance for unfunded credit commitments, beginning of period (1)
$39,062 $38,783 $33,589 $37,698 $26,264 
Provision for credit losses on unfunded credit commitments(b)457 283 4,110 1,824 11,429 
Foreign currency translation adjustment7 (4)— 4 6 
Allowance for unfunded credit commitments, end of period (1)
$39,526 $39,062 $37,699 $39,526 $37,699 
Provision for credit losses(a)+(b)$70,000 $42,000 $37,000 $174,000 $125,000 
(1)Included in Accrued expenses and other liabilities on the Condensed Consolidated Balance Sheet.
17

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CRITICIZED LOANS, NONPERFORMING ASSETS, CREDIT QUALITY RATIOS AND
COMPOSITION OF ALLOWANCE BY PORTFOLIO
($ in thousands)
(unaudited)
Table 11
Criticized LoansDecember 31, 2024September 30, 2024December 31, 2023
Special mention loans$447,290 $468,593 $404,241 
Classified loans725,863 641,642 573,969 
Total criticized loans (1)
$1,173,153 $1,110,235 $978,210 
(1)Excludes loans HFS.

Nonperforming Assets
December 31, 2024September 30, 2024December 31, 2023
Nonaccrual loans:
Commercial:
C&I$86,165 $75,272 $37,036 
Total CRE18,318 19,175 27,918 
Consumer:
Total residential mortgage54,469 52,311 37,788 
Other consumer66 102 132 
Total nonaccrual loans159,018 146,860 102,874 
Other real estate owned, net35,077 41,248 11,141 
Other nonperforming assets
— 7,358 — 
Total nonperforming assets$194,095 $195,466 $114,015 
Credit Quality RatiosDecember 31, 2024September 30, 2024December 31, 2023
Annualized quarterly net charge-offs to average loans HFI 0.48 %0.22 %0.15 %
Annual net charge-offs to average loans HFI
0.26 %N/A0.09 %
Special mention loans to loans HFI0.83 %0.88 %0.77 %
Classified loans to loans HFI1.35 %1.20 %1.10 %
Criticized loans to loans HFI2.18 %2.08 %1.87 %
Nonperforming assets to total assets0.26 %0.26 %0.16 %
Nonaccrual loans to loans HFI0.30 %0.28 %0.20 %
Allowance for loan losses to loans HFI1.31 %1.31 %1.28 %

Composition of Allowance (“ALLL”) by PortfolioDecember 31, 2024September 30, 2024December 31, 2023
Loan CategoryALLLALLL/
Loans HFI		ALLLALLL/
Loans HFI		ALLLALLL/
Loans HFI
C&I$384,319 2.21 %$378,315 2.22 %$392,685 2.37 %
Total CRE268,291 1.32 265,234 1.30 215,436 1.05 
Multifamily32,117 0.65 31,782 0.62 34,375 0.68 
Office68,015 3.20 66,614 3.11 55,252 2.43 
All other CRE168,159 1.27 166,838 1.27 125,809 0.96 
Residential mortgage & consumer49,442 0.31 52,936 0.34 60,622 0.40 
Total loans$702,052 1.31 %$696,485 1.31 %$668,743 1.28 %

18

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 12
Three Months EndedYear Ended
December 31, 2024September 30, 2024December 31, 2023December 31, 2024December 31, 2023
Net interest income before provision for credit losses
(a)
$587,626 $572,722 $574,834 $2,278,716 $2,312,254 
Fully taxable equivalent (“FTE”) adjustment
(b)
1,276 411 440 4,767 1,728 
FTE net interest income before provision for credit losses
(c)=(a)+(b)
588,902 573,133 575,274 2,283,483 2,313,982 
Total noninterest income
(d)
88,166 84,395 79,903 335,218 295,264 
Total revenue
(e)=(a)+(d)
675,792 657,117 654,737 2,613,934 2,607,518 
Total revenue (FTE)
(f)=(c)+(d)
$677,068 $657,528 $655,177 $2,618,701 $2,609,246 
Total noninterest expense
(g)
$249,968 $225,800 $290,498 $958,073 $1,022,748 
Efficiency ratio
(g)/(f)
36.92 %34.34 %44.34 %36.59 %39.20 %
Pre-tax, pre-provision income
(f)-(g)
$427,100 $431,728 $364,679 $1,660,628 $1,586,498 
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance.
▪During the second, third and fourth quarters of 2024, the Company recorded $3 million, $11 million, and $343 thousand, respectively, in pre-tax DC solar recoveries (included in Amortization of Tax Credit and CRA Investments on the Condensed Consolidated Statement of Income) related to the Company’s investment in DC Solar. The Company recorded $3 million, $2 million, and $4 million in pre-tax DC solar recoveries in the first, second, and fourth quarters of 2023, respectively.
▪During the first and second quarters of 2024, the Company recorded $10 million and $2 million, respectively, in pre-tax FDIC special assessment charges, and a $3 million FDIC special assessment reversal during the fourth quarter of 2024 (included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income). During the fourth quarter of 2023, the Company recorded $70 million in pre-tax FDIC special assessment charges.
▪During the first and fourth quarters of 2023, the Company recorded a $10 million pre-tax impairment write-off and a $3 million pre-tax gain on the sale of the same AFS debt security (included in Net gains on AFS debt securities on the Condensed Consolidated Statement of Income), respectively.
▪During the first quarter of 2023, the Company recorded $4 million in pre-tax repurchase agreements’ extinguishment cost (included in Other operating expenses on the Condensed Consolidated Statement of Income).
Adjusted net income represents net income adjusted for the tax-effected above-mentioned adjustments. Adjusted diluted EPS represents diluted EPS adjusted for the above tax-effected adjustments. Management believes that the measures and ratios presented below provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods.
Three Months EndedYear Ended
December 31, 2024September 30, 2024December 31, 2023December 31, 2024December 31, 2023
Net income$293,115 $299,166 $238,953 $1,165,586 $1,161,161 
Less/Add: FDIC special assessment (reversal) charge
(3,385)— 69,986 8,800 69,986 
Less/Add: Net gain/loss on AFS debt security
— — (3,138)— 6,862 
Less: DC Solar recovery
(343)(11,201)(3,648)(14,690)(9,218)
Add: Repurchase agreements’ extinguishment cost
— — — — 3,872 
Tax effect of adjustments (1)
1,109 3,311 (18,682)1,751 (21,136)
Adjusted net income$290,496 $291,276 $283,471 $1,161,447 $1,211,527 
Diluted weighted-average number of shares outstanding139,883 139,648 141,409 139,958 141,902 
Diluted EPS$2.10 $2.14 $1.69 $8.33 $8.18 
Less/Add: FDIC special assessment (reversal) charge
(0.03)— 0.49 0.06 0.49 
Less/Add: Net gain/loss on AFS debt security
— — (0.02)— 0.05 
Less: DC Solar recovery
— (0.08)(0.03)(0.10)(0.06)
Add: Repurchase agreements’ extinguishment cost— — — — 0.03 
Tax effect of adjustments (1)
0.01 0.03 (0.13)0.01 (0.15)
Adjusted diluted EPS$2.08 $2.09 $2.00 $8.30 $8.54 
(1)Applied statutory tax rate of 29.73% for the three and twelve months ended December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended September 30, 2024, and for the three and twelve months ended December 31, 2023.
19

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 13   
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible book value, tangible book value per share and TCE ratio are non-GAAP financial measures. Tangible book value and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.
 December 31, 2024September 30, 2024December 31, 2023
Common Stock
170 170 169 
Additional paid-in capital
2,030,712 2,018,105 1,980,818 
Retained earnings
7,311,542 7,095,587 6,465,230 
Treasury stock
(1,034,110)(1,012,019)(874,787)
Accumulated other comprehensive income:
AFS debt securities net unrealized losses
(542,152)(456,493)(601,881)
Cash flow hedges net unrealized (losses) gains
(20,787)39,143 2,624 
Foreign currency translation adjustments
(22,321)(19,954)(21,339)
Total accumulated other comprehensive loss
(585,260)(437,304)(620,596)
Stockholders’ equity (a)$7,723,054 $7,664,539 $6,950,834 
Less: Goodwill(465,697)(465,697)(465,697)
Other intangible assets (1)
(5,234)(5,563)(6,602)
Tangible book value(b)$7,252,123 $7,193,279 $6,478,535 
Number of common shares at period-end(c)138,437 138,609 140,027 
Book value per share(a)/(c)$55.79 $55.30 $49.64 
Tangible book value per share (b)/(c)$52.39 $51.90 $46.27 
Total assets(d)$75,976,475 $74,483,720 $69,612,884 
Less: Goodwill(465,697)(465,697)(465,697)
Other intangible assets (1)
(5,234)(5,563)(6,602)
Tangible assets (e)$75,505,544 $74,012,460 $69,140,585 
Total stockholders’ equity to assets ratio(a)/(d)10.17 %10.29 %9.98 %
TCE ratio (b)/(e)9.60 %9.72 %9.37 %

Return on average TCE represents tangible net income divided by average tangible book value. Tangible net income excludes the after-tax impacts of the amortization of core deposit intangibles and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.
Three Months EndedYear Ended
December 31, 2024September 30, 2024December 31, 2023December 31, 2024December 31, 2023
Net income
(f)
$293,115 $299,166 $238,953 $1,165,586 $1,161,161 
Add: Amortization of core deposit intangibles— — 441 — 1,763 
Amortization of mortgage servicing assets334 348 302 1,322 1,328 
Tax effect of amortization adjustments (2)
(99)(103)(220)(393)(914)
Tangible net income
(g)
$293,350 $299,411 $239,476 $1,166,515 $1,163,338 
Average stockholders’ equity
(h)
$7,731,324 $7,443,333 $6,695,852 $7,315,174 $6,482,985 
Less: Average goodwill(465,697)(465,697)(465,697)(465,697)(465,697)
Average other intangible assets (1)
(5,445)(5,790)(5,434)(5,953)(6,542)
Average tangible book value
(i)
$7,260,182 $6,971,846 $6,224,721 $6,843,524 $6,010,746 
Return on average common equity
(f)/(h)15.08 %
(3)
15.99 %
(3)
14.16 %
(3)
15.93 %17.91 %
Return on average TCE
(g)/(i)16.07 %
(3)
17.08 %
(3)
15.26 %
(3)
17.05 %19.35 %
(1)Includes core deposit intangibles and mortgage servicing assets. There were no core deposit intangibles in the 2024 periods presented.
(2)Applied statutory tax rate of 29.73% for the three and twelve months ended December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended September 30, 2024, and for the three and twelve months ended December 31, 2023.
(3)Annualized.
20
East West Bancorp, Inc. Fourth Quarter and Full Year 2024 Earnings Presentation January 23, 2025

 
Forward-Looking Statements and Additional Information 2 Forward-Looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of East West Bancorp, Inc. (the “Company”) and are subject to significant risks and uncertainties. You should not place undue reliance on these statements. There are various important factors that could cause the Company’s future results to differ materially from historical performance and any forward-looking statements, including the factors described in the Company’s fourth quarter 2024 earnings release, as well as those factors contained in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. These statements speak only as of the date they are made and are based only on information then actually known to the Company. The Company does not undertake to update any forward-looking statements except as required by law. Basis of Presentation The preparation of the Company’s consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, income and expenses during the reporting periods, and the related disclosures. Although our estimates consider current conditions and how we expect them to change in the future, it is reasonably possible that actual results could be materially different from those estimates. Hence, the current period’s results of operations are not necessarily indicative of results that may be expected for any future interim period or for the year as a whole. Certain prior period information have been reclassified to conform to the current presentation. Non-GAAP Financial Measures Certain financial information in this presentation has not been prepared in accordance with GAAP and is presented on a non-GAAP basis. Investors should refer to the reconciliations included in this presentation and should consider the Company’s non-GAAP measures in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. These measures may not be comparable to similarly titled measures used by other companies.

 
Fire Update 3 Amid the ongoing crisis of the L.A. fires, we are living our values of absolute integrity, customer alignment, professionalism, and selflessness to serve our community in this time of need Supporting our Customers and our Community Supporting our Colleagues ▪ Standing ready to assist consumer and commercial customers as we navigate the impact of this event together – all branches and offices open ▪ Volunteering at the evacuation center at the Pasadena Convention Center in coordination with the City of Pasadena, first responders, and community partners ▪ Providing financial support to local nonprofits focusing on the disaster recovery efforts ▪ Offering accommodation as needed for impacted customers to help them focus on the health and safety of their families and businesses ▪ Contributing to the LA Arts Community Fire Relief Fund to provide emergency relief for impacted artists and arts workers ▪ Raising relief funds to support associates dealing with evacuations, loss of property, and other impacts − Matching associate donations dollar for dollar Managing our Risks ▪ Based on conditions as of mid-January, our direct exposure is minimal – we expect immaterial impact to East West at this time ▪ Our 2025 outlook for net charge-offs includes an early assessment of our risk expectations

 
Full Year and 4Q 2024 Highlights 4 (1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press releases ▪ Book value per share up 12% Y-o-Y; full year 16% ROACE (17% ROTCE1) ▪ Repurchased approximately 200K shares at an average price under $98/share − Incremental $300mm repurchase program: $329mm of total authorization available $1.166 billion net income available to common equity in 2024, $8.33 diluted earnings per share $293 million net income available to common equity in 4Q24, $2.10 diluted earnings per share ▪ Grew average deposits +9% Y-o-Y − End-of-period deposit growth of 13% ▪ Grew average loans +6% Y-o-Y − End-of-period loan growth of 3% ▪ Enhanced liquidity profile, normalized loan-to-deposit ratio ▪ NII down 1% Y-o-Y, up 3% Q-o-Q ▪ 2024 NIM resilient at 3.27%, 3.24% for 4Q ▪ Record full-year fee income of $310mm − Notable strength in wealth management, payments and cash management, and foreign exchange income ▪ Full-year net charge-offs of 26bps ▪ Stable nonperforming asset levels at 26bps ▪ Criticized loans up 10bps to 2.18% ▪ ALLL steady at 1.31% ▪ 4Q24 provision of $70mm Deposit-Led Growth Growing NII, Record Fee Income Stable Asset Quality Building Shareholder Value ▪ Raised quarterly dividend 9%

 
$(79) $(1) $760 $795 13.8 21.3 22.8 17.2 14.8 7.6 9.3 9.6 9.8 9.5 9.9 12.4 12.4 11.7 14.0 9.5 8.5 9.5 16.3 21.4 $40.8 $51.5 $54.3 $55.0 $59.7 2020 2021 2022 2023 2024 Deposits 5 Sixth consecutive quarter of $1 billion+ customer deposit growth; noninterest-bearing demand deposits growing again ($ in billions) Average Deposits End of Period Deposit Growth by Category (3Q24 to 4Q24) ($ in millions) 23% 16% 25% 36% +$1.5bn Time MMDA IB Checking & Savings Noninterest-bearing Demand (DDA) Deposit Mix4 Year CAGR +10% 3.15% 2.26% 4.10% Period-End Cost 2.59% Total Deposit Cost Money Market Noninterest-bearing Demand (DDA) Time IB Checking & Savings -

 
11.4 12.1 13.6 15.0 15.2 3.0 3.2 4.3 4.8 5.19.3 10.7 12.4 14.2 15.6 13.1 13.7 15.0 15.5 16.5 $36.8 $39.7 $45.3 $49.5 $52.4 2020 2021 2022 2023 2024 Loans 6 Prudent growth in our focus categories is bolstering diversification and supporting interest income ($ in billions) Average Loans End of Period Loan Growth (3Q24 to 4Q24) ($ in millions) 30% 31% 29% +$473mm 10% C&I Multifamily CRE (ex. Multifamily) Residential mortgage & other consumer Loan Mix ($188) $59 $273 $329 4 Year CAGR +9% C&I Residential mortgage & other consumer CRE (ex. Multifamily) Multifamily 5.90% 7.00% 5.91% 6.32% 6.38% Total Loan Yield Period-End Yield

 
Net Interest Income & Net Interest Margin 7 Growing dollar NII with continued disciplined reduction in deposit cost ($ in millions) Net Interest Income (NII) & Net Interest Margin (NIM) End of Period Deposit Cost (2Q24 to 4Q24) 1 $575 $565 $553 $573 $588 3.48% 3.34% 3.27% 3.24% 3.24% 4Q23 1Q24 2Q24 3Q24 4Q24 NII NIM 2.94% 3.92% 2.84% 3.73% 2.59% 3.43% Cost of Deposits Cost of Interest-bearing Deposits 6.30.24 9.30.24 12.31.24 49bp decrease in 2H IB deposit cost

 
4 Year CAGRs +11% 40 11 15 23 15 18 26 28 27 39 20 44 41 48 54 75 78 79 84 98 50 76 95 94 104 $203 $235 $258 $276 $310 2020 2021 2022 2023 2024 Fee Income 8 Consistent sales execution has supported strong performance ▪ Record full-year fee income1 of $310mm, up $34mm, or +12% Y-o-Y − Wealth Management Fee growth (+$12mm) reflects higher customer activity; up 43% Y-o-Y − Lending Fee growth (+$14mm), with growth in unused commitment and syndications fees; up 17% Y-o-Y − Deposit Account Fee growth (+$10mm) driven primarily by payments and cash management income; up 11% Y-o-Y − FX Income growth (+$6mm); up 13% Y-o-Y Highlights (1) Fee income excludes mark-to-market adjustments related to customer and other derivatives; net gains (losses) on sales of loans; net gains on AFS debt securities; other investment income and other income Wealth Management Fees Customer Derivative Income Fee Income1 ($ in millions) +7% +22% -22% +20% +28% Deposit Account Fees Lending Fees Foreign Exchange Income

 
4 Year CAGRs +11% 66 63 63 63 64 29 34 45 76 84 147 143 160 184 196 404 434 478 509 551 70 9 $646 $674 $746 $902 $904 2020 2021 2022 2023 2024 Operating Expense & Efficiency 9 Maintaining best-in-class efficiency while investing for future growth Total Operating Noninterest Expense1 ($ in millions) ▪ Full-year total operating noninterest expense of $904mm, up $1mm Y-o-Y − Excluding FDIC Special Assessment- related expense, total operating noninterest expense up $63mm, 8% Y-o-Y (1) Total noninterest expense excluding amortization of tax credit and CRA investments (2) Calculation and deposit account expenses exclude FDIC special assessment charge of $70 million and $9 million for 2023 and 2024, respectively (3) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press releases Highlights Efficiency Ratio3 and Operating Noninterest Expense/Average Assets Ratio Compensation and Employee Benefits Computer and Software Related Expenses, All Other Occupancy and Equipment Deposit Account Expenses2 -1% +7% +8% +31% 44.3% 34.3% 36.9% 1.63% 1.20% 1.22% 4Q23 3Q24 4Q24 Efficiency Noninterest Expense / Avg. Assets FDIC Special Assessment 2 +8

 
$37 $25 $37 $42 $70 $20 $23 $23 $29 $64 $- $10 $20 $30 $40 $50 $60 $70 $80 4Q23 1Q24 2Q24 3Q24 4Q24 Provision for credit losses Net charge- offs 37 49 67 75 86 38 47 52 52 54 23 47 42 14 14 11 17 30 49 35 5 5 5 5 5 $114 $165 $196 $195 $194 12.31.23 03.31.24 06.30.24 09.30.24 12.31.24 Multifamily OREO and Other CRE (ex. MFR) Resi. mortgage & consumer C&I Asset Quality Metrics 10 Our prudent approach to credit management has delivered relatively low and stable credit outcomes Provision for Credit Losses & Net Charge-offs ($ in millions) Non-Performing Assets Criticized Loans / Loans HFI Criticized Ratio by Loans HFI Portfolio ($ in millions) Annual NCO ratio 1.10% 1.25% 1.22% 1.20% 1.35% 0.77% 1.05% 0.83% 0.88% 0.83% 1.87% 2.30% 2.05% 2.08% 2.18% 12.31.23 03.31.24 06.30.24 09.30.24 12.31.24 Classified loans / Loans HFI Special mention loans / Loans HFI NPA / Total assets 0.16% 0.23% 0.27% 0.26% 0.26% 0.09% 0.26% FY2023 FY2024 3.17% 1.96% 1.78% 0.40% 3.07% 3.08% 1.69% 0.52% C&I CRE (ex. Multifamily) Multifamily Resi mortgage & consumer 12.31.23 12.31.24

 
11 Allowance for Loan Losses We continue to bolster our CRE allowance levels Allowance for Loan Losses (ALLL) ($ in millions) 12.31.23 09.30.24 12.31.24 Loan Category ALLL ALLL/Loans HFI ALLL ALLL/Loans HFI ALLL ALLL/Loans HFI C&I $ 393 2.37% $ 378 2.22% $ 384 2.21% Total CRE 215 1.05 265 1.30 268 1.32 Multifamily 34 0.68 32 0.62 32 0.65 Office 55 2.43 66 3.11 68 3.20 All Other CRE 126 0.96 167 1.27 168 1.27 Resi. mortgage & consumer 61 0.40 53 0.34 50 0.31 Total Loans $ 669 1.28% $ 696 1.31% $ 702 1.31% Composition of ALLL by Portfolio ($ in millions) $669 $670 $684 $696 $702 1.28% 1.29% 1.30% 1.31% 1.31% 12.31.23 03.31.24 06.30.24 09.30.24 12.31.24 ALLL ALLL/Loans HFI

 
14.8% 14.8% 15.1% 15.4% 15.6% Total Capital Ratio 10.2% 10.1% 10.4% 10.4% 10.4% Leverage Ratio Highlights 12.31.23 09.30.2406.30.24 12 Capital Healthy capital position: 200 thousand shares repurchased in 4Q24, 9% increase to 1Q25 dividend ▪ 9% dividend increase ‒ Declared 1Q25 dividend of $0.60/share, up $0.05/share from $0.55 in 4Q24 ‒ Payable on February 17, 2025 to shareholders of record on February 3, 2025 ▪ Opportunistic stock repurchase activity in Q4 ‒ Repurchased 200K shares in 4Q24 ▪ Average price under $98/share ▪ New repurchase authorization ‒ $329 million remaining for future repurchasesRegulatory well capitalized requirement (1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press releases (2) The Company has elected to use the 2020 CECL transition provision in the calculation of its regulatory capital ratios (3) The Company’s December 31, 2024 regulatory capital ratios are preliminary Tangible Common Equity Ratio1 Regulatory Capital Ratios2 6.5% 5.0% 10.0% 03.31.24 12.31.243 13.3% 13.5% 13.7% 14.1% 14.3% CET1 Ratio 9.4% 9.3% 9.4% 9.7% 9.6% Tangible Common Equity Ratio

 
Management Outlook: Full Year 2025 13 Earnings Drivers FY 2025 Expectations vs. FY 2024 Results Interest Rate Outlook ▪ Assumes December 31st forward curve, with 50bps of expected cuts in the Federal Funds rate and a steepening yield curve End of Period Loans ▪ Growing in the range of 4% to 6% Y-o-Y Net Interest Income Total Revenue ▪ Growing in the range of 4% to 6% Y-o-Y ▪ Growing in the range of 5% to 7% Y-o-Y Total Operating Noninterest Expense(1) ▪ Growing in the range of 7% to 9% Y-o-Y Net Charge-offs ▪ In the range of 25bps to 35bps Effective Tax Rate ▪ In the range of 21% to 23% Best-in-Class Efficiency Top Quartile Returns FY 2025 Expectation (1) Total noninterest expense excluding amortization of tax credit and CRA investments

 
Appendix 14

 
0.8% 1.3% 1.1% 1.0%1.2% 1.5% 1.8% 1.7% 1.6% 10.0% 16.7% 17.1% 15.2% 12.4% 17.2% 21.3% 19.4% 17.0% East West at a Glance 15 $13B Market Cap $76B Assets $63B Deposits 17% ROTCE1 12.31.24 12.31.24 12.31.24 2024 (1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press releases (2) EWBC peers include BKU, BOKF, BPOP, CFG, CFR, CMA, COLB, FCNC.A, FITB, HBAN, KEY, MTB, NTRS, PNFP, RF, SSB, SNV, VLY, WAL, WTFC, and ZION. Source: S&P Capital IQ ▪ Headquartered in Pasadena, California ▪ Over 25 years on Nasdaq ▪ Founded in 1973 - over 50 years in operation Roots in the U.S. Asian-American immigrant community, expanded to bridge businesses across the Pacific Award-winning Company #1 Top Performing Bank, $50+ Billion (Bank Director) America’s Best Banks (Forbes) Outstanding CRA Rating A Leading Regional Bank with Cross-Border Capabilities... …Producing Consistent Top-Tier Shareholder Returns… ROTCE1 ROA 2020 2021 2022 2023 2024 Peer Median EWBC

 
1% 2% 2% 4% 5% 7% 8% 9% 2% 2% 2% 4% 4% 4% 6% Industries with 1% of total loans outstanding1 Diversified Loan Portfolio 16 70% of loans support commercial customers, with broad diversification across industry and asset types CRE $20.3bn C&I $17.4bn (as % of Portfolio Loans, 12.31.24) Commercial Loans by Type Total Loan Portfolio $53.7bn (1) Industries with 1% of total loans outstanding: Art Finance, Consumer Finance, Food Production & Distribution, Equipment Finance, Healthcare Services, Hospitality & Leisure, Oil & Gas, Tech & Telecom Capital Call Lending Media & Entertainment Real Estate Investment & Mgmt. Manufacturing & Wholesale General Industrial Multifamily Retail Hotel Office Healthcare All other CRE Construction and Land Financial Services Infrastructure & Clean Energy Resi. Mortgage and other consumer $16.0 30% CRE $20.3 38% C&I $17.4 32%

 
<=50% 48% >50% to 55% 16% >55% to 60% 14% >60% to 65% 13% >65% to 70% 6% >70% 3% Commercial Real Estate Portfolio Detail 17 (1) Weighted average LTV is based on most recent LTV, using most recent available appraisal and current loan commitment (2) Construction & Land average size based on total commitment 50% Average LTV1 Our CRE portfolio is granular and many loans have full recourse and personal guarantees Distribution by LTV1 Size and LTV by Property Type (as of 12.31.24) (as of 12.31.24) ▪ Fewer than 25% of CRE loans have an LTV over 60% Total Portfolio Size ($bn) Weighted Avg. LTV1 (%) Average Loan Size ($mm) Multifamily $5.0 51% $2 Retail 4.3 48 3 Industrial 4.0 46 3 Hotel 2.4 52 9 Office 2.1 54 4 Healthcare 0.8 52 4 Other 1.0 50 4 Construction & Land2 0.7 49 12 Total CRE $20.3 50% $3

 
38% 6% 12% 7% 7% 3% 4% 4% 6% 7% CRE Office – Additional Information 18 CRE Office: Geographic Mix by Metro Area CRE Office by Size Segment Other Los Angeles County Other SoCal Other Bay Area San Francisco Other CA, 1% Houston Dallas Manhattan, 1% Other TX Washington Other Regions New Jersey, 3% Other NY, 1% Downtown Los Angeles and Adjacent Neighborhoods (as of 12.31.24) (as of 12.31.24) Our office portfolio has low LTVs across most segments and low average loan sizes Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $244 6 $41 72% $20mm - $30mm 428 17 25 57 $10mm - $20mm 499 35 14 56 $5mm - $10mm 430 59 7 51 <$5mm 524 402 1 44 Total $2,125 519 $4 54%

 
29% 4% 18% 9% 3% 4% 6% 1% 2% 3% 5% 3% 12% CRE Retail – Additional Information 19 Other Los Angeles County Downtown Los Angeles and Adjacent Neighborhoods Other SoCal Other Bay Area San Francisco Other CA Houston Dallas Manhattan Other TX Washington Other Regions Other NY Our retail portfolio has a weighted average LTV profile of 48% CRE Retail: Geographic Mix by Metro Area CRE Retail by Size Segment (as of 12.31.24) (as of 12.31.24) New Jersey, 1% Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $340 9 $38 48% $20mm - $30mm 456 18 25 56 $10mm - $20mm 758 56 14 48 $5mm - $10mm 790 115 7 48 <$5mm 2,003 1,480 1 45 Total $4,347 1,678 $3 48%

 
CRE Multifamily – Additional Information 20 Other Los Angeles County Downtown Los Angeles and Adjacent Neighborhoods Other SoCal Other Bay Area San Francisco Other CA Houston Dallas Manhattan Washington Other Regions Other NY CRE Multifamily by Size Segment (as of 12.31.24) (as of 12.31.24) Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $608 16 $38 57% $20mm - $30mm 621 26 24 56 $10mm - $20mm 631 46 14 54 $5mm - $10mm 672 97 7 54 <$5mm 2,421 2,606 1 46 Total $4,953 2,791 $2 51% CRE Multifamily : Geographic Mix by Metro Area Arizona Nevada Oklahoma 30% 3% 13% 8% 6% 7% 7% 2% 3% 2% 3% 3% 4% 3% 6% Our multifamily portfolio is amongst our most granular

 
<=50% 49% >50% to 55% 12% >55% to 60% 28% >60% 11% Southern California 41% Northern California 16% New York 25% Washington 6% Texas 2% Other 10% Residential Mortgage Portfolio 21 51% Average LTV1 Our residential mortgage portfolio benefits from both low LTVs and smaller average loan size (as of 12.31.24) Resi. Mortgage Distribution by LTV1 (as of 12.31.24) $437,000 Average loan size2 (1) Combined LTV for 1st and 2nd liens; based on commitment (2) Average loan size based on loan outstanding for single-family residential and commitment for HELOC (3) Geographic distribution based on commitment size Portfolio Highlights as of 12.31.24 Outstandings ▪ $16.0bn loans outstanding ▪ +2% Q-o-Q and +6% Y-o-Y Originations ▪ $0.8bn in 4Q24 ▪ Primarily originated through East West Bank branches Single-family Residential ▪ $14.2bn loans outstanding ▪ +2% Q-o-Q and +6% Y-o-Y HELOC ▪ $1.8bn loans outstanding ▪ $3.5bn in undisbursed commitments ▪ 34% utilization, up 1% from 09.30.24 ▪ 77% of commitments in first lien position Resi. Mortgage Distribution by Geography3

 
($ in billions) Cash and Securities 22 Enhanced liquidity while supporting earnings with high-quality liquid assets ▪ Securities portfolio well-positioned as a source of liquidity, interest rate risk management, and earnings support − 94% of investment portfolio 0% – 20% risk-weighted (HQLA) − Added a net $1.3bn of securities in Q4, primarily short-duration Ginnie Mae floaters (HQLA) − 55% fixed-rate securities, 45% floating HighlightsAverage Total Securities Portfolio and Cash Securities Portfolio Composition by Risk-Weighted Asset (RWA) Distribution (as of 12.31.24) $13.8bn Securities Portfolio ▪ Includes $6bn+ of Ginnie Mae floating- rate securities $9.7 $10.2 $11.9 $12.7 $14.2 $4.5 $5.9 $4.1 $5.0 $4.6 $14.2 $16.1 $16.0 $17.7 $18.8 3.17% 3.19% 3.93% 4.03% 3.98% 4Q23 1Q24 2Q24 3Q24 4Q24 Total Securities & Resale Agreements Cash & Equivalent Total Securities Average Yield 62% 32% 1% 5% 0% RWA 1%‒20% RWA 21%‒50% RWA 51%‒100% RWA

 
21% 21% 29% 29% Fixed rate Hybrid in fixed rate period Variable - LIBOR + SOFR Variable - Prime, all other rates Loan Yields 23 Hedge Impact and Outlook Loan Portfolio by Index Rate Average Loan Rate by Portfolio (as of 12.31.24) Total fixed rate and hybrid in fixed period: 42% 57%* variable rate SFR: 45% hybrid in fixed-rate period & 40% fixed rate 4Q23 1Q24 2Q24 3Q24 4Q24 01.10.25 rate sheet price for 30-year fixed: 7.125%*48% had customer-level interest rate derivative contracts 91% variable rate 7.99% 8.06% 8.01% 7.93% 7.42% C&I 6.36% 6.39% 6.41% 6.44% 6.22% CRE 5.49% 5.71% 5.80% 5.86% 5.86% Residential Mortgage ▪ $18mm negative impact to 4Q24 NII from cash flow hedges (10bps to NIM) ‒ $500mm of negative carry swaps rolled off in January ‒ $500mm of negative carry swaps to roll off in February ‒ These 2 swaps accounted for approximately half our hedge impact in Q4 ▪ $1bn of forward starting hedges to come on in 2H25, with a blended receive-fixed rate of ~4%

 
Deposit and Funding Cost 24 Average Deposit and Liability Cost Average Deposit Rate by Portfolio 4Q23 1Q24 2Q24 3Q24 4Q24 2.60% 2.84% 2.96% 2.98% 2.75% 3.64% 3.85% 3.94% 3.93% 3.63% 3.73% 3.92% 4.07% 4.05% 3.71% 4Q23 1Q24 2Q24 3Q24 4Q24 Average cost of deposits Average cost of interest-bearing deposits Average cost of interest-bearing liabilities 2.72% 2.81% 2.84% 2.98% 2.82% Interest-bearing Checking 3.83% 3.97% 3.97% 3.82% 3.32% Money Market 4.22% 4.44% 4.56% 4.55% 4.31% Time

 
Appendix: GAAP to Non-GAAP Reconciliation 25 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net interest income before provision for credit losses (a) $ 587,626 $ 572,722 $ 574,834 $ 2,278,716 $ 2,312,254 Fully taxable equivalent (“FTE”) adjustment (b) 1,276 411 440 4,767 1,728 FTE net interest income before provision for credit losses (c)=(a)+(b) 588,902 573,133 575,274 2,283,483 2,313,982 Total noninterest income (d) 88,166 84,395 79,903 335,218 295,264 Total revenue (e)=(a)+(d) 675,792 657,117 654,737 2,613,934 2,607,518 Total revenue (FTE) (f)=(c)+(d) $ 677,068 $ 657,528 $ 655,177 $ 2,618,701 $ 2,609,246 Total noninterest expense (g) $ 249,968 $ 225,800 $ 290,498 $ 958,073 $ 1,022,748 Efficiency ratio (g)/(f) 36.92 % 34.34 % 44.34 % 36.59 % 39.20 % Pre-tax, pre-provision income (f)-(g) $ 427,100 $ 431,728 $ 364,679 $ 1,660,628 $ 1,586,498

 
Appendix: GAAP to Non-GAAP Reconciliation 26 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. During the second, third and fourth quarters of 2024, the Company recorded $3 million, $11 million, and $343 thousand, respectively, in pre-tax DC solar recoveries (included in Amortization of Tax Credit and CRA Investments on the Condensed Consolidated Statement of Income) related to the Company’s investment in DC Solar. The Company recorded $3 million, $2 million, and $4 million in pre-tax DC solar recoveries in the first, second, and fourth quarters of 2023, respectively. During the first and second quarters of 2024, the Company recorded $10 million and $2 million, respectively, in pre-tax FDIC special assessment charges, and a $3 million FDIC special assessment reversal during the fourth quarter of 2024 (included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income). During the fourth quarter of 2023, the Company recorded $70 million in pre-tax FDIC special assessment charges. During the first and fourth quarters of 2023, the Company recorded a $10 million pre-tax impairment write-off and a $3 million pre-tax gain on the sale of the same AFS debt security (included in Net gains on AFS debt securities on the Condensed Consolidated Statement of Income), respectively. During the first quarter of 2023, the Company recorded $4 million in pre-tax repurchase agreements’ extinguishment cost (included in Other operating expenses on the Condensed Consolidated Statement of Income). Adjusted net income represents net income adjusted for the tax-effected above-mentioned adjustments. Adjusted diluted EPS represents diluted EPS adjusted for the above tax-effected adjustments. Management believes that the measures and ratios presented below provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods. (1) Applied statutory tax rate of 29.73% for the three and twelve months ended December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended September 30, 2024, and for the three and twelve months ended December 31, 2023 Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income $ 293,115 $ 299,166 $ 238,953 $ 1,165,586 $ 1,161,161 Less/Add: FDIC special assessment (reversal) charge (3,385) — 69,986 8,800 69,986 Less/Add: Net gain/loss AFS debt security — — (3,138) — 6,862 Less: DC Solar recovery (343) (11,201) (3,648) (14,690) (9,218) Add: Repurchase agreements’ extinguishment cost — — — — 3,872 Tax effect of adjustments (1) 1,109 3,311 (18,682) 1,751 (21,136) Adjusted net income $ 290,496 $ 291,276 $ 283,471 $ 1,161,447 $ 1,211,527 Diluted weighted-average number of shares outstanding 139,883 139,648 141,409 139,958 141,902 Diluted EPS $ 2.10 $ 2.14 $ 1.69 $ 8.33 $ 8.18 Less/Add: FDIC special assessment (reversal) charge (0.03) — 0.49 0.06 0.49 Less/Add: Net gain/loss AFS debt security — — (0.02) — 0.05 Less: DC Solar recovery — (0.08) (0.03) (0.10) (0.06) Add: Repurchase agreements’ extinguishment cost — — — — 0.03 Tax effect of adjustments (1) 0.01 0.03 (0.13) 0.01 (0.15) Adjusted diluted EPS $ 2.08 $ 2.09 $ 2.00 $ 8.30 $ 8.54

 
(1) Includes core deposit intangibles and mortgage servicing assets. There were no core deposit intangibles in the 2024 periods presented Appendix: GAAP to Non-GAAP Reconciliation 27 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible book value, tangible book value per share and TCE ratio are non-GAAP financial measures. Tangible book value and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion. December 31, 2024 September 30, 2024 December 31, 2023 Common Stock $ 170 $ 170 $ 169 Additional paid-in capital 2,030,712 2,018,105 1,980,818 Retained earnings 7,311,542 7,095,587 6,465,230 Treasury stock (1,034,110) (1,012,019) (874,787) Accumulated other comprehensive income: AFS debt securities net unrealized losses (542,152) (456,493) (601,881) Cash flow hedges net unrealized (losses) gains (20,787) 39,143 2,624 Foreign currency translation adjustments (22,321) (19,954) (21,339) Total accumulated other comprehensive loss (585,260) (437,304) (620,596) Stockholders’ equity (a) $ 7,723,054 $ 7,664,539 $ 6,950,834 Less: Goodwill (465,697) (465,697) (465,697) Other intangible assets (1) (5,234) (5,563) (6,602) Tangible book value (b) $ 7,252,123 $ 7,193,279 $ 6,478,535 Number of common shares at period-end (c) 138,437 138,609 140,027 Book value per share (a)/(c) $ 55.79 $ 55.30 $ 49.64 Tangible book value per share (b)/(c) $ 52.39 $ 51.90 $ 46.27 Total assets (d) $ 75,976,475 $ 74,483,720 $ 69,612,884 Less: Goodwill (465,697) (465,697) (465,697) Other intangible assets (1) (5,234) (5,563) (6,602) Tangible assets (e) $ 75,505,544 $ 74,012,460 $ 69,140,585 Total stockholders’ equity to assets ratio (a)/(d) 10.17% 10.29% 9.98% TCE ratio (b)/(e) 9.60% 9.72% 9.37%

 
Appendix: GAAP to Non-GAAP Reconciliation 28 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Return on average TCE represents tangible net income divided by average tangible book value. Tangible net income excludes the after-tax impacts of the amortization of core deposit intangibles and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion. (1) Applied statutory tax rate of 29.73% for the three and twelve months ended December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended September 30, 2024, and for the three and twelve months ended December 31, 2023 (2) Includes core deposit intangibles and mortgage servicing assets. There were no core deposit intangibles in the 2024 periods presented (3) Annualized for three months ended December 31, 2024, September 30, 2024, and December 31, 2023 Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income (f) $ 293,115 $ 299,166 $ 238,953 $ 1,165,586 $ 1,161,161 Add: Amortization of core deposit intangibles — — 441 — 1,763 Amortization of mortgage servicing assets 334 348 302 1,322 1,328 Tax effect of amortization adjustments (1) (99) (103) (220) (393) (914) Tangible net income (g) $ 293,350 $ 299,411 $ 239,476 $ 1,166,515 $ 1,163,338 Average stockholders’ equity (h) $ 7,731,324 $ 7,443,333 $ 6,695,852 $ 7,315,174 $ 6,482,985 Less: Average goodwill (465,697) (465,697) (465,697) (465,697) (465,697) Average other intangible assets (2) (5,445) (5,790) (5,434) (5,953) (6,542) Average tangible book value (i) $ 7,260,182 $ 6,971,846 $ 6,224,721 $ 6,843,524 $ 6,010,746 Return on average common equity (3) (f)/(h) 15.08% 15.99% 14.16% 15.93% 17.91% Return on average TCE (3) (g)/(i) 16.07% 17.08% 15.26% 17.05% 19.35%

 
v3.24.4
Cover Page
Jan. 23, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 23, 2025
Entity Registrant Name EAST WEST BANCORP, INC.
Entity Central Index Key 0001069157
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 000-24939
Entity Tax Identification Number 95-4703316
Entity Address, Address Line One 135 North Los Robles Ave.
Entity Address, Address Line Two 7th Floor
Entity Address, City or Town Pasadena
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91101
City Area Code 626
Local Phone Number 768-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol EWBC
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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