Form 8-K - Current report

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)

April 22, 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 class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share

EWBC

The 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 April 22, 2025, East West Bancorp, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2025. 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 April 22, 2025, the Company will hold a conference call to discuss its financial results for the quarter ended March 31, 2025 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


99.1			Press Release, dated April 22, 2025.
99.2			Presentation Materials, dated April 22, 2025.
104			Cover Page Interactive Data (formatted in Inline XBRL).

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: April 22, 2025	By:	/s/ Christopher J. Del Moral-Niles
		Christopher J. Del Moral-Niles
		Executive Vice President and Chief Financial Officer





			East West Bancorp, Inc.
			135 N. Los Robles Ave., 7th Fl.
			Pasadena, CA 91101
			Tel. 626.768.6000


NEWS RELEASE

EAST WEST BANCORP REPORTS NET INCOME FOR FIRST QUARTER OF 2025

OF $290 MILLION AND DILUTED EARNINGS PER SHARE OF $2.08; RECORD QUARTERLY REVENUE, FEE INCOME, AND LOANS

Pasadena, California – April 22, 2025 – East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported its financial results for the first quarter of 2025. First quarter 2025 net income was $290 million, or $2.08 per diluted share. Returns on average assets were 1.56%, returns on average common equity were 15.0%, and returns on average tangible common equity1 were 15.9%. Book value per share grew 3% quarter-over-quarter and 14% year-over-year.

“East West reported record loans, revenue, and fee income in the first quarter, generating a nearly 16% return on average tangible common equity1,” said Dominic Ng, Chairman and Chief Executive Officer. “Net interest margin expanded 11 basis points quarter-over-quarter driven by our focus on deposit cost optimization, resulting in over $600 million of net interest income this quarter. This performance was complemented by 8% quarter-over-quarter growth in fee income, driven by strong customer activity across the board,” said Ng.

“Credit performance strengthened in the first quarter, with net charge-offs of $15 million or 12 basis points of total loans and both nonaccrual loans and nonperforming assets decreasing. Nonetheless, we bolstered our allowance for loan losses to a prudent level of 1.35% of loans,” continued Ng.

“East West continues to operate from a position of strength. Our diversified balance sheet, strong capital levels, and industry-leading profitability position us to support our customers in any economic environment. These core business strengths provide us with the flexibility to capitalize on opportunities,” concluded Ng.

FINANCIAL HIGHLIGHTS



	Three Months Ended		Quarter-over-Quarter Change

($ in millions, except per share data)	March 31, 2025	December 31, 2024		$	%

Total Revenue (FTE)	$693	$677		$16	2	%
Pre-tax, Pre-provision Income2	441	427		14	3
Net Income	290	293		(3)	(1)
Diluted Earnings per Share	$2.08	$2.10		$(0.02)	(1)
Book Value per Share	$57.54	$55.79		$1.75	3
Tangible Book Value per Share1	$54.13	$52.39		$1.74	3	%
Return on Average Assets	1.56%	1.55%		—	1 bp
Return on Average Common Equity	14.96%	15.08%		—	-12 bps

Return on Average Tangible Common Equity1	15.92%	16.07%		—	-15 bps
Total Stockholders’ Equity to Assets Ratio	10.41%	10.17%		—	24 bps
Tangible Common Equity Ratio1	9.85%	9.60%		—	25 bps
Total Assets	$76,165	$75,976		$189	0	%




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 11.
2 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 10.

BALANCE SHEET

•Assets – Total assets were $76.2 billion as of March 31, 2025, an increase of $0.2 billion from $76.0 billion as of December 31, 2024. Year-over-year, total assets grew $5.3 billion, or 7%, from $70.9 billion as of March 31, 2024.

First quarter 2025 average interest-earning assets of $72.7 billion were up $0.5 billion, or 1%, from $72.2 billion in the fourth quarter, primarily reflecting a $0.9 billion increase in average available-for-sale (“AFS”) debt securities and a $0.1 billion increase in average total loans outstanding, partly offset by a $0.5 billion decrease in average interest-bearing cash and deposits with banks.

•Loans – Total loans were $54.3 billion as of March 31, 2025, an increase of over $0.5 billion from $53.7 billion as of December 31, 2024. Year-over-year, total loans were up $2.2 billion, or 4%, from $52.0 billion as of March 31, 2024.

•Deposits – Total deposits were $63.1 billion as of March 31, 2025, a decrease of $0.1 billion from $63.2 billion as of December 31, 2024, reflecting deposit optimization to further reduce cost. Noninterest-bearing deposits made up 24% of total deposits as of March 31, 2025. Year-over-year, total deposits increased $4.5 billion, or 8%, from $58.6 billion as of March 31, 2024.

First quarter 2025 average deposits of $62.6 billion increased $0.7 billion from the fourth quarter of 2024, primarily reflecting growth in average money market, time, savings, and noninterest-bearing demand deposits.

•Capital – As of March 31, 2025, stockholders’ equity was $7.9 billion, up 3% quarter-over-quarter. The total stockholders’ equity to assets ratio was 10.41% as of March 31, 2025, compared with 10.17% as of December 31, 2024.

Book value per share was $57.54 as of March 31, 2025, up $1.75, or 3% quarter-over-quarter. As of March 31, 2025, tangible book value per share3 was $54.13, up $1.74, or 3% 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 March 31, 2025, December 31, 2024 and March 31, 2024.



EWBC Capital
($ in millions)	March 31, 2025 (a)(b)	December 31, 2024 (b)	March 31, 2024 (b)

Risk-Weighted Assets (“RWA”) (c)	$55,366	$54,942	$53,448
Risk-based capital ratios:
Total capital ratio	15.63%	15.58%	14.84%
CET1 capital ratio	14.32%	14.27%	13.53%
Tier 1 capital ratio	14.32%	14.27%	13.53%

Leverage ratio	10.46%	10.42%	10.05%
Total stockholders’ equity to assets ratio	10.41%	10.17%	9.91%
Tangible common equity ratio (d)	9.85%	9.60%	9.31%

(a)The Company’s March 31, 2025 regulatory capital ratios and RWA are preliminary.

(b)The Company has applied the 2020 Current Expected Credit Losses (“CECL”) transition provision in the December 31, 2024 and March 31, 2024 regulatory capital ratio calculations. The CECL transition provision permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the aggregate benefit is reduced by 25% in 2022, 50% in 2023 and 75% in 2024. The CECL transition is no longer in effect as of March 31, 2025.

(c)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.

(d)Tangible common equity ratio is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 11.

3 Tangible book value per share is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 11.

OPERATING RESULTS

First Quarter Earnings – First quarter 2025 revenue was a record $692 million, up $17 million, or 2% quarter-over-quarter, driven in part by record quarterly noninterest income. Pre-tax, pre-provision income4 totaled $441 million in the first quarter, up $14 million or 3% quarter-over-quarter. First quarter 2025 net income was $290 million or $2.08 per diluted share.

First Quarter 2025 Compared to Fourth Quarter 2024

Net Interest Income and Net Interest Margin

Net interest income totaled $600 million in the first quarter, an increase of $13 million, or 2%, from $588 million in the fourth quarter of 2024. Net interest margin (“NIM”) was 3.35%, an increase of 11 basis points from the fourth quarter.

•The average loan yield was 6.39%, down 11 basis points from the prior quarter. The average interest-earning asset yield was 5.76%, down 8 basis points from the prior quarter.

•The average cost of funds was 2.64%, down 23 basis points from the prior quarter. The average cost of interest-bearing deposits was 3.34%, a 29 basis point decrease from the prior quarter.

Noninterest Income

Noninterest income totaled a record $92 million in the first quarter, an increase of $4 million, or 4% from $88 million in the fourth quarter. Fee income5 of $88 million increased $7 million, or 8%, from $81 million in the prior quarter.

•Wealth management fees increased $4 million quarter-over-quarter, reflecting higher customer activity.

•Customer derivative income increased $2 million in the first quarter, reflecting higher customer activity.

•Lending fees were up $1 million in the first quarter, primarily reflecting higher syndication activity.

•Commercial and consumer deposit-related fees grew nearly $1 million quarter-over-quarter, primarily reflecting higher commercial payments and cash management fee income.

•Foreign exchange income decreased $1 million in the first quarter.

Noninterest Expense

Total noninterest expense was $252 million in the first quarter, which included $16 million in tax credit and Community Reinvestment Act (“CRA”) investment amortization. Total operating noninterest expense was $236 million, an increase of $6 million, or 3% quarter-over-quarter, including $4 million of net other real estate owned (“OREO”) write-downs.

•Compensation and employee benefits were $146 million, an increase of approximately $7 million, or 5% quarter-over-quarter, primarily related to seasonal factors.

•Deposit account expense was $9 million, a decrease of $2 million, or 17% quarter-over-quarter, driven primarily by lower rates and balances in certain accounts.

•Occupancy and equipment expense was $16 million, a decrease of $1 million, or 4% quarter-over-quarter.

•Deposit insurance premiums and regulatory assessments were $10 million, a $4 million increase reflecting a $3 million reversal of Federal Deposit Insurance Corporation (“FDIC”) Special Assessment-related expense in the prior quarter.

•The efficiency ratio was 36.4% in the first quarter, compared with 36.9% in the prior quarter.

TAX RELATED ITEMS

First quarter 2025 income tax expense was $101 million, and the effective tax rate was 25.8%, compared with income tax expense of $63 million and 17.6% in the fourth quarter of 2024, reflecting lower pre-tax income and the timing of certain renewable energy tax credit investments that were closed and placed into service in the prior quarter.



4 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 10.
5 Fee income includes commercial and consumer deposit-related fees, lending fees, foreign exchange income, wealth management fees, and customer derivative income. Refer to Table 3 for additional fee and noninterest income information.

ASSET QUALITY

As of March 31, 2025, the credit quality of our loan portfolio remained solid.

•Nonperforming assets decreased $12 million to $182 million as of March 31, 2025, from $194 million as of December 31, 2024. The nonperforming assets ratio was 0.24% of total assets as of March 31, 2025, down 2 basis points from the prior quarter.

•Net OREO balances decreased $6 million quarter-over-quarter to $29 million, compared with $35 million for the fourth quarter of 2024.

•First quarter 2025 net charge-offs were $15 million, or annualized 0.12% of average loans held-for-investment (“HFI”), compared with $64 million, or annualized 0.48% of average loans HFI, for the fourth quarter of 2024.

•The criticized loans ratio increased 11 basis points quarter-over-quarter to 2.29% of loans HFI as of March 31, 2025, compared with 2.18% as of December 31, 2024. Criticized loans increased $72 million quarter-over-quarter to $1.2 billion as of March 31, 2025. The quarter-over-quarter change primarily reflects increases related to commercial real estate and residential mortgage loans.

•The special mention loans ratio increased 8 basis points quarter-over-quarter to 0.91% of loans HFI as of March 31, 2025, compared with 0.83% as of December 31, 2024, while the classified loans ratio increased 3 basis points to 1.38%.

•The allowance for loan losses increased to $735 million, or 1.35% of loans HFI, as of March 31, 2025, compared with $702 million, or 1.31% of loans HFI, as of December 31, 2024, driven primarily by changes in the impact of the economic forecast.

•First quarter 2025 provision for credit losses was $49 million, compared with $70 million in the fourth quarter of 2024.

DIVIDEND PAYOUT AND CAPITAL ACTIONS

East West’s Board of Directors has declared the second quarter 2025 dividend for the Company’s common stock. The common stock cash dividend of $0.60 per share is payable on May 16, 2025 to shareholders of record as of May 2, 2025.

East West repurchased approximately 920 thousand shares of common stock during the first quarter of 2025 for $85 million. $244 million of East West’s share repurchase authorization remains available.

Conference Call

East West will host a conference call to discuss first quarter 2025 earnings with the public on Tuesday, April 22, 2025, at 2:00 p.m. PT/5:00 p.m. ET. The public and investment community are invited to listen as management discusses first quarter 2025 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 $76.2 billion as of March 31, 2025. 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.

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 known and unknown 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, 2024 filed with the SEC on February 28, 2025 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.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
($ and shares in thousands, except per share data)
(unaudited)
Table 1

											March 31, 2025 % or Basis Point Change
		March 31, 2025			December 31, 2024			March 31, 2024			Qtr-o-Qtr			Yr-o-Yr
Assets




	Cash and cash equivalents, and deposits with banks	$	3,481,072		$	5,298,940		$	4,235,394		(34.3)	%		(17.8)	%
	Securities purchased under resale agreements (“resale agreements”)	425,000			425,000			485,000			—			(12.4)
	Available-for-sale (“AFS”) debt securities (amortized cost of $12,962,469, $11,505,775 and $9,131,953)	12,384,912			10,846,811			8,400,468			14.2			47.4
	Held-to-maturity (“HTM”) debt securities, at amortized cost (fair value of $2,435,292, $2,387,754 and $2,414,478)	2,905,341			2,917,413			2,948,642			(0.4)			(1.5)

	Total cash, resale agreements and debt securities	19,196,325			19,488,164			16,069,504			(1.5)			19.5

	Loans held-for-sale (“HFS”)	—			—			13,280			—			(100.0)
	Loans held-for-investment (“HFI”) (net of allowance for loan losses of $734,856, $702,052 and $670,280)	53,517,878			53,024,585			51,322,224			0.9			4.3

	Affordable housing partnership, tax credit and Community Reinvestment Act (“CRA”) investments, net	930,058			926,640			933,187			0.4			(0.3)
	Goodwill	465,697			465,697			465,697			—			—
	Operating lease right-of-use assets	80,239			81,967			87,535			(2.1)			(8.3)
	Other assets	1,974,816			1,989,422			1,984,243			(0.7)			(0.5)
	Total assets	$	76,165,013		$	75,976,475		$	70,875,670		0.2	%		7.5	%

Liabilities and Stockholders’ Equity
	Deposits	$	63,052,105		$	63,175,023		$	58,560,624		(0.2)	%		7.7	%

	Short-term borrowings	—			—			19,173			—			(100.0)





	Federal Home Loan Bank (“FHLB”) advances	3,500,000			3,500,000			3,500,000			—			—

	Securities sold under repurchase agreements (“repurchase agreements”)	270,111			—			—			100.0			100.0
	Long-term debt and finance lease liabilities	35,880			35,974			36,428			(0.3)			(1.5)
	Operating lease liabilities	87,157			89,263			95,643			(2.4)			(8.9)
	Accrued expenses and other liabilities	1,290,295			1,453,161			1,640,570			(11.2)			(21.4)
	Total liabilities	68,235,548			68,253,421			63,852,438			0.0			6.9
	Stockholders’ equity	7,929,465			7,723,054			7,023,232			2.7			12.9
	Total liabilities and stockholders’ equity	$	76,165,013		$	75,976,475		$	70,875,670		0.2	%		7.5	%

	Total cash, resale agreements and debt securities/total assets	25.20		%	25.65		%	22.67		%	(45)		bps	253		bps



	Total stockholders’ equity to assets ratio	10.41		%	10.17		%	9.91		%	24			50
	Tangible common equity (“TCE”) ratio (1)	9.85		%	9.60		%	9.31		%	25		bps	54		bps
	Book value per share	$	57.54		$	55.79		$	50.48		3.1	%		14.0	%
	Tangible book value (1) per share	$	54.13		$	52.39		$	47.09		3.3			14.9
	Number of common shares at period-end	137,802			138,437			139,121			(0.5)	%		(0.9)	%

(1)The TCE ratio and the tangible book value are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP measures in Table 11.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
TOTAL LOANS AND DEPOSITS DETAIL
($ in thousands)
(unaudited)
Table 2

								March 31, 2025 % Change
		March 31, 2025		December 31, 2024		March 31, 2024		Qtr-o-Qtr		Yr-o-Yr
Loans:
Commercial:



	Commercial and industrial (“C&I”)	$	17,460,744	$	17,397,158	$	16,350,191	0.4	%	6.8	%
	Commercial real estate (“CRE”):
	CRE	14,868,361		14,655,340		14,609,655		1.5		1.8
	Multifamily residential	5,007,969		4,953,442		5,010,245		1.1		0.0
	Construction and land	653,630		666,162		673,939		(1.9)		(3.0)
	Total CRE	20,529,960		20,274,944		20,293,839		1.3		1.2
Consumer:
	Residential mortgage:
	Single-family residential	14,383,562		14,175,446		13,563,738		1.5		6.0
	Home equity lines of credit (“HELOCs”)	1,827,837		1,811,628		1,731,233		0.9		5.6
	Total residential mortgage	16,211,399		15,987,074		15,294,971		1.4		6.0
	Other consumer	50,631		67,461		53,503		(24.9)		(5.4)
Total loans HFI (1)		54,252,734		53,726,637		51,992,504		1.0		4.3
Loans HFS		—		—		13,280		—		(100.0)
	Total loans (1)	54,252,734		53,726,637		52,005,784		1.0		4.3
Allowance for loan losses		(734,856)		(702,052)		(670,280)		4.7		9.6
	Net loans (1)	$	53,517,878	$	53,024,585	$	51,335,504	0.9	%	4.3	%

Deposits by product:
	Noninterest-bearing demand	$	15,169,775	$	15,450,428	$	14,798,927	(1.8)	%	2.5	%
	Interest-bearing checking	7,591,847		7,940,692		7,570,427		(4.4)		0.3
	Money market	14,885,732		14,816,511		13,585,597		0.5		9.6
	Savings	1,740,044		1,751,620		1,834,393		(0.7)		(5.1)

	Time deposits	23,664,707		23,215,772		20,771,280		1.9		13.9

	Total deposits	$	63,052,105	$	63,175,023	$	58,560,624	(0.2)	%	7.7	%

Deposits by segment/region:
	Consumer and Business Banking - U.S. (2)	$	33,023,739	$	32,832,926	$	30,251,355	0.6	%	9.2	%
	Commercial Banking - U.S. (2)	22,571,582		23,405,769		22,464,774		(3.6)		0.5
	International Branches (3)	3,524,223		3,412,262		3,282,218		3.3		7.4


	Treasury and Other - U.S. (4)	3,932,561		3,524,066		2,562,277		11.6		53.5
	Total deposits	$	63,052,105	$	63,175,023	$	58,560,624	(0.2)	%	7.7	%

(1)Includes $36 million, $46 million and $63 million of net deferred loan fees and net unamortized premiums as of March 31, 2025, December 31, 2024 and March 31, 2024, 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.


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						March 31, 2025 % Change
		March 31, 2025		December 31, 2024		March 31, 2024		Qtr-o-Qtr	Yr-o-Yr
Interest and dividend income		$	1,031,802	$	1,059,266	$	1,023,617	(2.6)%	0.8%
Interest expense		431,601		471,640		458,478		(8.5)	(5.9)
Net interest income before provision for credit losses		600,201		587,626		565,139		2.1	6.2
Provision for credit losses		49,000		70,000		25,000		(30.0)	96.0
Net interest income after provision for credit losses		551,201		517,626		540,139		6.5%	2.0%
Noninterest income:



	Commercial and consumer deposit-related fees	27,075		26,468		24,948		2.3	8.5
	Lending fees	26,230		24,737		22,925		6.0	14.4
	Foreign exchange income	15,837		16,643		11,469		(4.8)	38.1
	Wealth management fees	13,679		9,829		8,637		39.2	58.4
	Customer derivative income	5,539		3,782		3,137		46.5	76.6
	Total fee income	88,360		81,459		71,116		8.5	24.2
	Derivative mark-to-market and credit valuation adjustments	(1,470)		3,811		613		NM	NM

	Net gains on AFS debt securities	131		90		49		45.6	167.3



	Other investment income (loss)	2,262		(590)		2,815		NM	(19.6)
	Other income	2,819		3,396		3,894		(17.0)	(27.6)
Total noninterest income		92,102		88,166		78,487		4.5%	17.3%
Noninterest expense:
	Compensation and employee benefits	146,435		139,870		141,812		4.7%	3.3%
	Occupancy and equipment expense	15,689		16,384		15,716		(4.2)	(0.2)
	Deposit account expense	9,042		10,923		12,188		(17.2)	(25.8)
	Computer and software related expenses	13,314		13,099		11,344		1.6	17.4
	Deposit insurance premiums and regulatory assessments (1)	10,385		6,201		19,649		67.5	(47.1)







	Other operating expense	41,541		44,108		32,458		(5.8)	28.0
	Total operating noninterest expense	236,406		230,585		233,167		2.5	1.4
	Amortization of tax credit and CRA investments (2)	15,742		19,383		13,207		(18.8)	19.2


Total noninterest expense		252,148		249,968		246,374		0.9	2.3
Income before income taxes		391,155		355,824		372,252		9.9	5.1
Income tax expense		100,885		62,709		87,177		60.9	15.7
Net income		$	290,270	$	293,115	$	285,075	(1.0)%	1.8%

Earnings per share (“EPS”)
- Basic		$	2.10	$	2.11	$	2.04	(0.7)%	2.7%
- Diluted		$	2.08	$	2.10	$	2.03	(0.5)	2.5
Weighted-average number of shares outstanding
- Basic		138,201		138,604		139,409		(0.3)%	(0.9)%
- Diluted		139,291		139,883		140,261		(0.4)	(0.7)

NM - Not meaningful.

(1)Includes $833 thousand and $10 million of FDIC special assessment charges for the three months ended March 31, 2025 and 2024, respectively. Includes $3 million of FDIC special assessment reversal for the three months ended December 31, 2024.

(2)Includes $343 thousand of DC Solar recoveries for the three months ended December 31, 2024.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED AVERAGE BALANCES
($ in thousands)
(unaudited)
Table 4

		Three Months Ended						March 31, 2025 % Change
		March 31, 2025		December 31, 2024		March 31, 2024		Qtr-o-Qtr	Yr-o-Yr
Loans:
Commercial:
	C&I	$	16,865,399	$	17,010,327	$	16,251,622	(0.9)%	3.8%
	CRE:
	CRE	14,731,881		14,580,509		14,725,440		1.0	0.0
	Multifamily residential	4,965,448		5,046,676		5,033,143		(1.6)	(1.3)
	Construction and land	675,686		680,374		655,001		(0.7)	3.2
	Total CRE	20,373,015		20,307,559		20,413,584		0.3	(0.2)
Consumer:
	Residential mortgage:
	Single-family residential	14,238,697		14,048,515		13,477,057		1.4	5.7
	HELOCs	1,811,022		1,775,587		1,725,288		2.0	5.0
	Total residential mortgage	16,049,719		15,824,102		15,202,345		1.4	5.6
	Other consumer	49,578		59,273		57,289		(16.4)	(13.5)
	Total loans (1)	$	53,337,711	$	53,201,261	$	51,924,840	0.3%	2.7%



Interest-earning assets		$	72,690,586	$	72,150,099	$	68,122,045	0.7%	6.7%
Total assets		$	75,624,952	$	75,121,440	$	71,678,396	0.7%	5.5%

Deposits:
	Noninterest-bearing demand	$	15,104,028	$	14,973,805	$	14,954,953	0.9%	1.0%
	Interest-bearing checking	7,749,665		7,998,098		7,695,429		(3.1)	0.7
	Money market	14,833,615		14,313,494		13,636,210		3.6	8.8
	Savings	1,752,946		1,731,414		1,809,568		1.2	(3.1)

	Time deposits	23,197,328		22,931,856		19,346,243		1.2	19.9
	Total deposits	$	62,637,582	$	61,948,667	$	57,442,403	1.1%	9.0%

(1)Includes loans HFS.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 5

		Three Months Ended
		March 31, 2025						December 31, 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	$	4,087,664	$	39,137	3.88	%	$	4,585,135	$	47,946	4.16	%
	Resale agreements	425,000		1,610		1.54	%	425,000		1,591		1.49	%
	Debt securities:
	AFS	11,766,446		135,519		4.67	%	10,852,569		125,628		4.61	%
	HTM	2,908,402		12,265		1.71	%	2,921,096		12,330		1.68	%
	Total debt securities	14,674,848		147,784		4.08	%	13,773,665		137,958		3.98	%

	Loans:
	C&I	16,865,399		293,414		7.06	%	17,010,327		317,374		7.42	%
	CRE	20,373,015		311,386		6.20	%	20,307,559		317,526		6.22	%
	Residential mortgage	16,049,719		234,891		5.94	%	15,824,102		233,147		5.86	%
	Other consumer	49,578		721		5.90	%	59,273		749		5.03	%
	Total loans (2)	53,337,711		840,412		6.39	%	53,201,261		868,796		6.50	%




	FHLB and FRB stock	165,363		2,859		7.01	%	165,038		2,975		7.17	%
	Total interest-earning assets	$	72,690,586	$	1,031,802	5.76	%	$	72,150,099	$	1,059,266	5.84	%

Noninterest-earning assets:
	Cash and due from banks	373,827						381,012
	Allowance for loan losses	(716,255)						(707,689)
	Other assets	3,276,794						3,298,018
	Total assets	$	75,624,952					$	75,121,440

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
	Checking deposits	$	7,749,665	$	47,911	2.51	%	$	7,998,098	$	56,640	2.82	%
	Money market deposits	14,833,615		116,018		3.17	%	14,313,494		119,420		3.32	%
	Savings deposits	1,752,946		3,447		0.80	%	1,731,414		3,829		0.88	%
	Time deposits	23,197,328		224,605		3.93	%	22,931,856		248,533		4.31	%
	Total interest-bearing deposits	47,533,554		391,981		3.34	%	46,974,862		428,422		3.63	%
	Short-term borrowings and federal funds purchased	428		6		5.69	%	783		9		4.57	%
	FHLB advances	3,500,001		38,866		4.50	%	3,500,001		42,429		4.82	%
	Repurchase agreements	6,684		77		4.67	%	4,337		55		5.05	%
	Long-term debt and finance lease liabilities	35,919		671		7.58	%	36,123		725		7.98	%
	Total interest-bearing liabilities	$	51,076,586	$	431,601	3.43	%	$	50,516,106	$	471,640	3.71	%

Noninterest-bearing liabilities and stockholders’ equity:
	Demand deposits	15,104,028						14,973,805
	Accrued expenses and other liabilities	1,575,264						1,900,205
	Stockholders’ equity	7,869,074						7,731,324
	Total liabilities and stockholders’ equity	$	75,624,952					$	75,121,440

	Total deposits	$	62,637,582	$	391,981	2.54	%	$	61,948,667	$	428,422	2.75	%

Interest rate spread						2.33	%					2.13	%
Net interest income and net interest margin				$	600,201	3.35	%			$	587,626	3.24	%

(1)Annualized.

(2)Includes loans HFS.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 6

		Three Months Ended
		March 31, 2025						March 31, 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	$	4,087,664	$	39,137	3.88	%	$	5,861,517	$	74,382	5.10	%
	Resale agreements	425,000		1,610		1.54	%	725,659		6,115		3.39	%
	Debt securities:
	AFS	11,766,446		135,519		4.67	%	6,566,368		62,858		3.85	%
	HTM	2,908,402		12,265		1.71	%	2,950,686		12,534		1.71	%
	Total debt securities	14,674,848		147,784		4.08	%	9,517,054		75,392		3.19	%
	Loans:
	C&I	16,865,399		293,414		7.06	%	16,251,622		325,810		8.06	%
	CRE	20,373,015		311,386		6.20	%	20,413,584		324,087		6.39	%
	Residential mortgage	16,049,719		234,891		5.94	%	15,202,345		215,674		5.71	%
	Other consumer	49,578		721		5.90	%	57,289		818		5.74	%
	Total loans (2)	53,337,711		840,412		6.39	%	51,924,840		866,389		6.71	%




	FHLB and FRB stock	165,363		2,859		7.01	%	92,975		1,339		5.79	%
	Total interest-earning assets	$	72,690,586	$	1,031,802	5.76	%	$	68,122,045	$	1,023,617	6.04	%

Noninterest-earning assets:
	Cash and due from banks	373,827						445,767
	Allowance for loan losses	(716,255)						(679,116)
	Other assets	3,276,794						3,789,700
	Total assets	$	75,624,952					$	71,678,396

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
	Checking deposits	$	7,749,665	$	47,911	2.51	%	$	7,695,429	$	53,821	2.81	%
	Money market deposits	14,833,615		116,018		3.17	%	13,636,210		134,661		3.97	%
	Savings deposits	1,752,946		3,447		0.80	%	1,809,568		4,120		0.92	%
	Time deposits	23,197,328		224,605		3.93	%	19,346,243		213,597		4.44	%
	Total interest-bearing deposits	47,533,554		391,981		3.34	%	42,487,450		406,199		3.85	%
	BTFP, short-term borrowings and federal funds purchased	428		6		5.69	%	3,864,525		42,106		4.38	%
	FHLB advances	3,500,001		38,866		4.50	%	554,946		7,739		5.61	%
	Repurchase agreements	6,684		77		4.67	%	2,549		35		5.52	%
	Long-term debt and finance lease liabilities	35,919		671		7.58	%	125,818		2,399		7.67	%
	Total interest-bearing liabilities	$	51,076,586	$	431,601	3.43	%	$	47,035,288	$	458,478	3.92	%

Noninterest-bearing liabilities and stockholders’ equity:
	Demand deposits	15,104,028						14,954,953
	Accrued expenses and other liabilities	1,575,264						2,695,597
	Stockholders’ equity	7,869,074						6,992,558
	Total liabilities and stockholders’ equity	$	75,624,952					$	71,678,396

	Total deposits	$	62,637,582	$	391,981	2.54	%	$	57,442,403	$	406,199	2.84	%

Interest rate spread						2.33	%					2.12	%
Net interest income and net interest margin				$	600,201	3.35	%			$	565,139	3.34	%

(1)Annualized.

(2)Includes loans HFS.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED RATIOS
(unaudited)
Table 7

		Three Months Ended (1)						March 31, 2025 Basis Point Change
		March 31, 2025		December 31, 2024		March 31, 2024		Qtr-o-Qtr		Yr-o-Yr
	Return on average assets	1.56	%	1.55	%	1.60	%	1	bps	(4)	bps

	Return on average common equity	14.96	%	15.08	%	16.40	%	(12)		(144)

	Return on average TCE (2)	15.92	%	16.07	%	17.60	%	(15)		(168)

	Interest rate spread	2.33	%	2.13	%	2.12	%	20		21
	Net interest margin	3.35	%	3.24	%	3.34	%	11		1

	Average loan yield	6.39	%	6.50	%	6.71	%	(11)		(32)

	Yield on average interest-earning assets	5.76	%	5.84	%	6.04	%	(8)		(28)
	Average cost of interest-bearing deposits	3.34	%	3.63	%	3.85	%	(29)		(51)
	Average cost of deposits	2.54	%	2.75	%	2.84	%	(21)		(30)
	Average cost of funds	2.64	%	2.87	%	2.97	%	(23)		(33)


	Operating noninterest expense/average assets	1.27	%	1.22	%	1.31	%	5		(4)
	Efficiency ratio	36.42	%	36.99	%	38.28	%	(57)		(186)
	Efficiency ratio (fully taxable equivalent) (“FTE”) (3)	36.36	%	36.92	%	38.19	%	(56)		(183)
	Effective tax rate	25.79	%	17.62	%	23.42	%	817	bps	237	bps



























								March 31, 2025 Basis Point Change
		March 31, 2025		December 31, 2024		March 31, 2024		Qtr-o-Qtr		Yr-o-Yr
	Loan-to-deposit ratio	86.04	%	85.04	%	88.81	%	100		(277)

(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 11.

(3)Efficiency ratio (FTE) is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 10.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE SHEET CREDIT EXPOSURES
($ in thousands)
(unaudited)
Table 8



		Three Months Ended March 31, 2025
		Commercial								Consumer
				CRE							Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land			Single-Family Residential		HELOCs		Other Consumer		Total
Allowance for loan losses, December 31, 2024		$	384,319	$	218,677	$	32,117	$	17,497		$	44,816	$	3,132	$	1,494	$	702,052


Provision for (reversal of) credit losses on loans	(a)	36,370		8,105		201		(305)			2,072		1,739		(120)		48,062
Gross charge-offs		(988)		(13,937)		(4)		(1,996)			(9)		—		(49)		(16,983)
Gross recoveries		1,564		54		10		3			50		8		13		1,702
Total net recoveries (charge-offs)		576		(13,883)		6		(1,993)			41		8		(36)		(15,281)
Foreign currency translation adjustment		23		—		—		—			—		—		—		23
Allowance for loan losses, March 31, 2025		$	421,288	$	212,899	$	32,324	$	15,199		$	46,929	$	4,879	$	1,338	$	734,856



		Three Months Ended December 31, 2024
		Commercial								Consumer
				CRE							Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land			Single-Family Residential		HELOCs		Other Consumer		Total
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 recoveries		2,140		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 March 31, 2024
		Commercial								Consumer
				CRE							Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land			Single-Family Residential		HELOCs		Other Consumer		Total
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)	275		19,132		3,032		1,381			899		(432)		(132)		24,155
Gross charge-offs		(20,998)		(2,398)		(6)		(1,224)			—		—		(58)		(24,684)
Gross recoveries		1,710		134		17		193			5		48		—		2,107
Total net (charge-offs) recoveries		(19,288)		(2,264)		11		(1,031)			5		48		(58)		(22,577)
Foreign currency translation adjustment		(41)		—		—		—			—		—		—		(41)
Allowance for loan losses, March 31, 2024		$	373,631	$	187,460	$	37,418	$	10,819		$	55,922	$	3,563	$	1,467	$	670,280

EAST WEST BANCORP, INC. AND SUBSIDIARIES

ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE-SHEET CREDIT EXPOSURES

($ in thousands)

(unaudited)

Table 8 (continued)















		Three Months Ended
		March 31, 2025		December 31, 2024		March 31, 2024
Unfunded Credit Facilities
Allowance for unfunded credit commitments, beginning of period (1)		$	39,526	$	39,062	$	37,699

Provision for credit losses on unfunded credit commitments	(b)	938		457		845
Foreign currency translation adjustment		—		7		—
Allowance for unfunded credit commitments, end of period (1)		$	40,464	$	39,526	$	38,544


Provision for credit losses	(a)+(b)	$	49,000	$	70,000	$	25,000

(1)Included in Accrued expenses and other liabilities on the Condensed Consolidated Balance Sheet.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
CRITICIZED LOANS, NONPERFORMING ASSETS, CREDIT QUALITY RATIOS AND
COMPOSITION OF ALLOWANCE BY PORTFOLIO
($ in thousands)
(unaudited)
Table 9


Criticized Loans	March 31, 2025		December 31, 2024		March 31, 2024
Special mention loans	$	494,444	$	447,290	$	543,573
Classified loans	750,570		725,863		651,485
Total criticized loans (1)	$	1,245,014	$	1,173,153	$	1,195,058

(1)Excludes loans HFS.
















Nonperforming Assets		March 31, 2025			December 31, 2024			March 31, 2024
Nonaccrual loans:
Commercial:
	C&I	$	75,579		$	86,165		$	48,962




	Total CRE	10,108			18,318			51,888
Consumer:



	Total residential mortgage	67,416			54,469			47,167
	Other consumer	97			66			162
	Total nonaccrual loans	153,200			159,018			148,179
Other real estate owned, net		29,003			35,077			16,692


	Total nonperforming assets	$	182,203		$	194,095		$	164,871



Credit Quality Ratios		March 31, 2025			December 31, 2024			March 31, 2024
Annualized quarterly net charge-offs to average loans HFI		0.12		%	0.48		%	0.17		%

Special mention loans to loans HFI		0.91		%	0.83		%	1.05		%
Classified loans to loans HFI		1.38		%	1.35		%	1.25		%
Criticized loans to loans HFI		2.29		%	2.18		%	2.30		%
Nonperforming assets to total assets		0.24		%	0.26		%	0.23		%
Nonaccrual loans to loans HFI		0.28		%	0.30		%	0.29		%
Allowance for loan losses to loans HFI		1.35		%	1.31		%	1.29		%




Composition of Allowance (“ALLL”) by Portfolio		March 31, 2025				December 31, 2024				March 31, 2024
Loan Category		ALLL		ALLL/ Loans HFI		ALLL		ALLL/ Loans HFI		ALLL		ALLL/ Loans HFI
	C&I	$	421,288	2.41	%	$	384,319	2.21	%	$	373,631	2.29	%
	Total CRE	260,422		1.27		268,291		1.32		235,697		1.16
	Multifamily	32,324		0.65		32,117		0.65		37,418		0.75
	Office	62,265		2.90		68,015		3.20		61,271		2.73
	All other CRE	165,833		1.24		168,159		1.27		137,008		1.05
	Residential mortgage & consumer	53,146		0.33		49,442		0.31		60,952		0.40
Total loans		$	734,856	1.35	%	$	702,052	1.31	%	$	670,280	1.29	%


EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 10
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Non-GAAP measures used consist of FTE net interest income and total revenue. The FTE adjustment relates to tax exempt interest on certain investment securities and loans. Efficiency ratio represents noninterest expenses divided by total revenue (FTE). Pre-tax, pre-provision income represents total revenue (FTE) less noninterest expense.

		Three Months Ended
		March 31, 2025			December 31, 2024			March 31, 2024
Net interest income before provision for credit losses	(a)	$	600,201		$	587,626		$	565,139
FTE adjustment	(b)	1,146			1,276			1,576
FTE net interest income before provision for credit losses	(c)=(a)+(b)	601,347			588,902			566,715
Total noninterest income	(d)	92,102			88,166			78,487

Total revenue	(e)=(a)+(d)	692,303			675,792			643,626
Total revenue (FTE)	(f)=(c)+(d)	$	693,449		$	677,068		$	645,202






Total noninterest expense	(g)	$	252,148		$	249,968		$	246,374
Efficiency ratio	(g)/(e)	36.42		%	36.99		%	38.28		%
Efficiency ratio (FTE)	(g)/(f)	36.36		%	36.92		%	38.19		%
Pre-tax, pre-provision income	(f)-(g)	$	441,301		$	427,100		$	398,828



Adjusted net income represents net income adjusted for the tax-effected adjustments below. Adjusted diluted EPS represents diluted EPS adjusted for the tax-effected adjustments below. 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. ▪During the first quarters of 2025 and 2024, the Company recorded $833 thousand and $10 million, respectively, of pre-tax FDIC special assessment charges. The Company recorded a $3 million FDIC special assessment reversal during the fourth quarter of 2024. Pre-tax FDIC special assessment charges/reversals are included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income. ▪During the fourth quarter of 2024, the Company recorded $343 thousand 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.

	Three Months Ended
	March 31, 2025		December 31, 2024		March 31, 2024
Net income	$	290,270	$	293,115	$	285,075
Less/Add: FDIC special assessment charge (reversal)	833		(3,385)		10,305


Less: DC Solar recovery	—		(343)		—

Tax effect of adjustments (1)	(248)		1,109		(3,046)

Adjusted net income	$	290,855	$	290,496	$	292,334

Diluted weighted-average number of shares outstanding	139,291		139,883		140,261
Diluted EPS	$	2.08	$	2.10	$	2.03
Less/Add: FDIC special assessment charge (reversal)	0.01		(0.03)		0.07

Less: DC Solar recovery	—		—		—

Tax effect of adjustments (1)	—		0.01		(0.02)



Adjusted diluted EPS	$	2.09	$	2.08	$	2.08

(1)Applied statutory tax rate of 29.73% for the three months ended March 31, 2025 and December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended March 31, 2024.


EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 11

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.

		March 31, 2025			December 31, 2024			March 31, 2024
Common Stock		170			170			170
Additional paid-in capital		2,043,898			2,030,712			1,993,806
Retained earnings		7,517,711			7,311,542			6,662,919
Treasury stock		(1,137,299)			(1,034,110)			(970,930)
Accumulated other comprehensive income:
AFS debt securities net unrealized losses		(482,175)			(542,152)			(601,511)
Cash flow hedges net unrealized (losses) gains		10,493			(20,787)			(43,705)
Foreign currency translation adjustments		(23,333)			(22,321)			(17,517)
Total accumulated other comprehensive loss		(495,015)			(585,260)			(662,733)
Stockholders’ equity	(a)	$	7,929,465		$	7,723,054		$	7,023,232
Less: Goodwill		(465,697)			(465,697)			(465,697)
Mortgage servicing assets		(4,940)			(5,234)			(6,234)
Tangible book value	(b)	$	7,458,828		$	7,252,123		$	6,551,301

Number of common shares at period-end	(c)	137,802			138,437			139,121
Book value per share	(a)/(c)	$	57.54		$	55.79		$	50.48
Tangible book value per share	(b)/(c)	$	54.13		$	52.39		$	47.09

Total assets	(d)	$	76,165,013		$	75,976,475		$	70,875,670
Less: Goodwill		(465,697)			(465,697)			(465,697)
Mortgage servicing assets		(4,940)			(5,234)			(6,234)
Tangible assets	(e)	$	75,694,376		$	75,505,544		$	70,403,739
Total stockholders’ equity to assets ratio	(a)/(d)	10.41		%	10.17		%	9.91		%
TCE ratio	(b)/(e)	9.85		%	9.60		%	9.31		%



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 Ended
		March 31, 2025			December 31, 2024			March 31, 2024
Net income	(f)	$	290,270		$	293,115		$	285,075

Add: Amortization of mortgage servicing assets		293			334			308
Tax effect of amortization adjustments (1)		(87)			(99)			(91)
Tangible net income	(g)	$	290,476		$	293,350		$	285,292









Average stockholders’ equity	(h)	$	7,869,074		$	7,731,324		$	6,992,558
Less: Average goodwill		(465,697)			(465,697)			(465,697)
Average mortgage servicing assets		(5,120)			(5,445)			(6,473)
Average tangible book value	(i)	$	7,398,257		$	7,260,182		$	6,520,388
Return on average common equity (2)	(f)/(h)	14.96		%	15.08		%	16.40		%
Return on average TCE (2)	(g)/(i)	15.92		%	16.07		%	17.60		%

(1)Applied statutory tax rate of 29.73% for the three months ended March 31, 2025 and December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended March 31, 2024.

(2)Annualized.

1Q 25 East West Bancorp, Inc. 1Q Earnings Presentation April 22, 2025

Forward-Looking Statements and Additional Information In this presentation, “we”, “our”, “us”, “East West” and the Company refer to East West Bancorp, Inc., and our consolidated subsidiaries unless the context indicates otherwise. 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 assumptions, beliefs, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond our control. 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 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, 2024. 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, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether written or oral, 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. Industry Information This presentation includes statistical and other industry and market data that we obtained from government reports and other third-party sources. Although we believe that this information is accurate and reliable, we have not independently verified such information. Forward-looking information that we have obtained from these sources is subject to the same uncertainties and qualifications as other forward-looking statements contained herein. 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 the appendix to 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. 2

Financial Highlights 3 1Q25 $290 million net income available to common equity, $2.08 diluted quarterly earnings per share ▪ Total EOP loans up 1% Q-o-Q (4% ann.) − Steady, balanced growth across residential mortgage, CRE, and C&I ▪ Optimized deposits to further reduce cost − Reduced average deposit cost of interest-bearing deposits 29bps Q-o-Q ▪ Record total quarterly revenue ▪ NII up 2% Q-o-Q ▪ NIM expanded 11bps Q-o-Q ▪ Record quarterly fee income of $88mm − Strong customer activity across the board ▪ Nonaccrual loans down 2bps Q-o-Q to 28bps ▪ Net charge-offs of $15mm (12bps) ▪ Nonperforming assets down 2bps Q-o-Q to 24bps ▪ Bolstered ALLL to 1.35%, reflecting changes in the economic forecast Growing Loans, Optimizing Deposits Increasing Revenue Improving Asset Quality Operating from a Position of Strength (1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press releases ▪ 15.0% ROACE (~16% ROTCE1) ▪ 1.56% Return on Average Assets (ROAA) ▪ 9.9% Tangible Common Equity (TCE)1 ratio ▪ 14.3% Common Equity Tier 1 (CET1) ratio ▪ Ample on and off balance-sheet liquidity

+$526mm Loans 4 Steady, balanced growth is supporting diversification and margin expansion ($ in billions) Average Loans End of Period Total Loan Growth by Category (4Q24 to 1Q25) ($ in millions) 15.4 15.3 15.1 15.3 15.4 5.0 5.0 5.1 5.0 5.0 15.2 15.4 15.7 15.9 16.1 16.3 16.2 16.5 17.0 16.8 $51.9 $51.9 $52.4 $53.2 $53.3 1Q24 2Q24 3Q24 4Q24 1Q25 +6% - +4% Y-o-Y +3% -1% C&I CRE (ex. Multifamily)Residential mortgage & other consumer Multifamily Q-o-Q +1% (4% ann.) $55 $64 $200 $207 Multifamily C&I CRE (ex. Multifamily) Residential mortgage & other consumer

$(360) $(281) $69 $449 IB Checking & Savings Noninterest-bearing Demand Money Market Time 15.0 14.7 14.6 15.0 15.1 9.5 9.3 9.5 9.7 9.5 13.6 13.7 14.2 14.3 14.8 19.3 21.0 22.3 22.9 23.2 $57.4 $58.7 $60.6 $61.9 $62.6 1Q24 2Q24 3Q24 4Q24 1Q25 Deposits 5 Optimized mix to further lower cost; with growing average balances across most categories ($ in billions) Average Deposits End of Period Total Deposit Growth by Category (4Q24 to 1Q25) ($ in millions) $(123)mm Time MMDA IB Checking & Savings Noninterest-bearing Demand (DDA) +9% - +1% Y-o-Y +9% +20%

3.92% 3.73% 3.43% 3.30% End of Period Interest-bearing Deposit Cost 6.30.24 9.30.24 12.31.24 03.31.25 Net Interest Income & Net Interest Margin 6 Grew NII 2% and NIM 11bps Q-o-Q, with continued disciplined reduction in deposit cost ($ in millions) Net Interest Income (NII) & Net Interest Margin (NIM) End of Period Interest-bearing Deposit Cost (2Q24 to 1Q25) $565 $553 $573 $588 $600 3.34% 3.27% 3.24% 3.24% 3.35% 1Q24 2Q24 3Q24 4Q24 1Q25 NII NIM 62bp decrease in interest-bearing deposit cost for 100bp of interest rate cuts 13bp decrease Q-o-Q

3 4 4 4 5 9 10 11 10 14 11 13 13 16 16 23 24 26 25 26 25 26 27 26 27$71 $77 $81 $81 $88 1Q24 2Q24 3Q24 4Q24 1Q25 Fee Income1 Fee Income 7 Higher customer activity supported a record quarter ($ in millions) (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 ▪ Fee income1 of $88mm, up nearly $7mm, or +8% from $81mm − Wealth management, customer derivatives, and lending fee growth all reflect higher customer activity Highlights Wealth Management Fees Customer Derivative Income +6% +39% +46% Q-o-Q +8% +2% -5% Commercial and Consumer Deposit-Related Fees Lending Fees Foreign Exchange Income vs. Prior Quarter

34.3% 36.9% 36.4% 1.20% 1.22% 1.27% 3Q24 4Q24 1Q25 Efficiency Ratio Noninterest Expense / Avg. Assets Total Operating Noninterest Expense1 Operating Expense & Efficiency 8 Maintaining best-in-class efficiency while investing for future growth ($ in millions) (1) Total noninterest expense excluding amortization of tax credit and CRA investments (2) Deposit-related expenses include deposit account expenses and deposit insurance premiums and regulatory assessments, including FDIC special deposit insurance assessment charges and reversals of $10 million, $2 million, $(3) million, and $833 thousand for 1Q24, 2Q24, 4Q24, and 1Q25 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-Related Expenses2 -4% -4% +5% +13% ▪ Total operating noninterest expense of $236mm − Excludes $16mm of tax credit and CRA investment amortization expense vs. Prior QuarterQ-o-Q +3% 16 15 17 16 16 32 23 21 17 19 44 48 46 58 55 142 133 136 140 146 $234 $219 $220 $231 $236 1Q24 2Q24 3Q24 4Q24 1Q25

1.25% 1.22% 1.20% 1.35% 1.38% 1.05% 0.83% 0.88% 0.83% 0.91% 2.30% 2.05% 2.08% 2.18% 2.29% 03.31.24 06.30.24 09.30.24 12.31.24 03.31.25 Classified loans / Loans HFI Special mention loans / Loans HFI $25 $37 $42 $70 $49 $23 $23 $29 $64 $15 $- $10 $20 $30 $40 $50 $60 $70 $80 1Q24 2Q24 3Q24 4Q24 1Q25 Provision for credit losses Net charge- offs Asset Quality Metrics 9 Operating from a position of strength with solid trends and declining net charge-offs and nonperforming assets Provision for Credit Losses & Net Charge-offs ($ in millions) Nonperforming Assets Criticized Loans / Loans HFI Criticized Ratio by Loans HFI Portfolio ($ in millions) NPA / Total assets 0.23% 0.27% 0.26% 0.26% 0.24%NCO ratio (ann.) 0.17% 0.18% 0.22% 0.48% 0.12% 49 67 75 86 76 47 52 52 54 6747 42 14 14 517 30 49 35 295 5 5 5 5$165 $196 $195 $194 $182 03.31.24 06.30.24 09.30.24 12.31.24 03.31.25 Multifamily OREO and Other CRE (ex. MFR) Resi. mortgage & consumer C&I 2.92% 2.99% 1.45% 0.51% 3.07% 3.08% 1.69% 0.52% 2.67% 3.76% 1.81% 0.65% C&I CRE (ex. Multifamily) Multifamily Resi mortgage & consumer

$670 $684 $696 $702 $735 1.29% 1.30% 1.31% 1.31% 1.35% 1.27% 1.29% 1.31% 1.33% 1.35% 1.37% 1.39% 1.41% 1.43% 1.45% $650 $670 $690 $710 $730 $750 $770 03.31.24 06.30.24 09.30.24 12.31.24 03.31.25 ALLL ALLL/Loans HFI Allowance for Loan Losses 10 Bolstered reserves by $33 million quarter-over-quarter Highlights ▪ Bolstered ALLL in light of changes to the economic outlook ‒ Increased reserves by $33mm, driven primarily by changes in the impact of the economic forecast ‒ Increased reserves for C&I by $37mm to capture potential effects of business cycle and trade dynamics Allowance for Loan Losses (ALLL) ($ in millions) Composition of ALLL by Portfolio ($ in millions) 03.31.24 12.31.24 03.31.25 Loan category ALLL ALLL ratio ALLL ALLL ratio ALLL ALLL ratio C&I $ 373 2.29% $ 384 2.21% $ 421 2.41% Total CRE (incl. MFR) 236 1.16 268 1.32 261 1.27 MFR 38 0.75 32 0.65 33 0.65 Office 61 2.73 68 3.20 62 2.90 All Other CRE 137 1.05 168 1.27 166 1.24 Resi mortgage & consumer 61 0.40 50 0.31 53 0.33 Total $ 670 1.29% $ 702 1.31% $ 735 1.35%

06.30.24 9.3% 9.4% 9.7% 9.6% 9.9% Tangible Common Equity Ratio 14.8% 15.1% 15.4% 15.6% 15.6% Total Capital Ratio 13.5% 13.7% 14.1% 14.3% 14.3% CET1 Ratio 10.1% 10.4% 10.4% 10.4% 10.5% Leverage Ratio Capital 11 Healthy capital position: $85 million of share repurchases in 1Q25 Highlights 03.31.24 12.31.2409.30.24 ▪ Opportunistic stock repurchase activity in Q1 ‒ Repurchased $85mm (~920K shares) in 1Q25 ‒ Grew both book and tangible book value1 3% Q-o-Q ▪ Capacity for ongoing repurchases ‒ $244 million of East West’s share repurchase authorization remains available; we remain opportunistic ▪ Declared 2Q25 dividend of $0.60 ‒ Payable on May 16, 2025 to shareholders of record on May 2, 2025 Regulatory well capitalized requirement Tangible Common Equity Ratio1 Regulatory Capital Ratios2 6.5% 5.0% 10.0% 03.31.253 (1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s earnings press release (2) The Company has applied the 2020 Current Expected Credit Losses (CECL) transition provision in the December 31, 2024, September 30, 2024, June 30, 2024, and March 31, 2024 regulatory capital ratio calculations. The CECL transition provision permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the aggregate benefit is reduced by 25% in 2022, 50% in 2023, and 75% in 2024. The CECL transition effect is no longer in effect as of March 31, 2025 (3) The Company’s March 31, 2025 regulatory capital ratios and Risk-Weighted Assets (RWA) are preliminary

Management Outlook: Full Year 2025 12(1) Total noninterest expense excluding amortization of tax credit and CRA investments Earnings Drivers FY 2025 Expectations vs. FY 2024 Results Interest Rate Outlook ▪ Assumes March 31st forward curve, with 50bps of expected cuts in the Federal Funds rate 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 Tax Items ▪ Effective tax rate in the range of 21% to 23% ▪ Amortization of tax credit and CRA investment expense in the range of $70 to $80 million Best-in-Class Efficiency Top Quartile Returns FY 2025 Expectation

Appendix

East West at a Glance 14(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 $12B Market Cap $76B Assets $63B Deposits 16% ROTCE1 03.31.25 03.31.25 03.31.25 03.31.25 ▪ 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 in 2024, $50+ Billion (Bank Director) #1 Top Performing Bank in 2022, $10+ Billion (S&P Global) Outstanding CRA Rating A Leading Regional Bank with Cross-Border Capabilities... …Producing Consistent Top-Tier Shareholder Returns… Peer Median2 EWBC 2020 2021 2022 2023 2024 10.0% 16.7% 17.1% 15.2% 14.2%12.4% 17.2% 21.3% 19.4% 17.0% ROTCE1 0.8% 1.3% 1.1% 1.0% 1.0%1.2% 1.5% 1.8% 1.7% 1.6% ROAA 2020 2021 2022 2023 2024

1% 2% 2% 4% 4% 8% 8% 9% Resi. Mortgage and other consumer $16.3 30% CRE $20.5 38% C&I $17.5 32% (as % of Total Loans, 03.31.25) Commercial Loans by Type Diversified Loan Portfolio 15 70% of loans support commercial customers, with broad diversification across industry and asset types (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 2% 2% 2% 4% 4% 4% 6% Industries with 1% of total loans outstanding1 CRE $20.5bn C&I $17.5bn Total Loan Portfolio $54.3bn Media & Entertainment Capital Call Lending Real Estate Investment & Mgmt. Infrastructure & Clean Energy General Industrial Multifamily Retail Hotel Office All other CRE Healthcare Construction and Land Manufacturing and Wholesale Financial Services

<=50% 49% >50% to 55% 15% >55% to 60% 15% >60% to 65% 13% >65% to 70% 5% >70% 3% Commercial Real Estate Portfolio Detail 16 Our CRE portfolio is granular - many loans have full recourse and personal guarantees 49% Average LTV1 Distribution by Loan-to-Value (LTV)1 Size and LTV by Property Type (as of 03.31.25) (as of 03.31.25) ▪ 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 4.4 47 3 Industrial 4.1 46 3 Hotel 2.4 52 9 Office 2.1 53 4 Healthcare 0.8 52 4 Other 1.1 49 4 Construction & Land2 0.6 50 13 Total CRE $20.5 49% $3 (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

CRE Office – Additional Information 17 Our office portfolio has low LTVs across segments and low average loan sizes CRE Office: Geographic Mix by Metro Area CRE Office by Size Segment (as of 03.31.25) (as of 03.31.25) Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $277 7 $40 55% $20mm - $30mm 419 17 25 59 $10mm - $20mm 498 35 14 56 $5mm - $10mm 419 57 7 51 <$5mm 532 401 1 44 Total $2,145 517 $4 53% 37% 6% 12% 9% 7% 3% 4% 4% 3% 6% 6% 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 Other NY, 1% Downtown Los Angeles and Adjacent Neighborhoods

28% 4% 18% 10% 2% 4% 6% 3% 5% 3% 12% CRE Retail – Additional Information 18 Our retail portfolio has a weighted average LTV profile of 47% CRE Retail: Geographic Mix by Metro Area CRE Retail by Size Segment (as of 03.31.25) (as of 03.31.25) Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $339 9 $38 48% $20mm - $30mm 480 19 25 55 $10mm - $20mm 751 56 13 47 $5mm - $10mm 790 115 7 48 <$5mm 2,036 1,503 1 45 Total $4,396 1,702 $3 47% Other Los Angeles County Downtown Los Angeles and Adjacent Neighborhoods Other SoCalOther Bay Area San Francisco Other CA Houston Dallas, 2% Manhattan Other TX, 2% Washington Other Regions Other NY New Jersey, 1%

31% 3% 12% 8% 6% 6% 7% 2% 1% 3% 2% 3% 3% 4% 3% 6% Oklahoma CRE Multifamily – Additional Information 19 Our multifamily portfolio is amongst our most granular CRE Multifamily: Geographic Mix by Metro Area CRE Multifamily by Size Segment (as of 03.31.25) (as of 03.31.25) Loan Size Balance ($ in mm) No. of Loans Avg. Loan Size ($ in mm) Weighted Avg. LTV (%) >$30mm $607 16 $38 57% $20mm - $30mm 650 27 24 55 $10mm - $20mm 650 47 14 54 $5mm - $10mm 688 99 7 54 <$5mm 2,413 2,599 1 46 Total $5,008 2,788 $2 51% Other Los Angeles County Downtown Los Angeles and Adjacent Neighborhoods Other SoCal Other Bay Area San Francisco Other CA Houston Dallas Arizona Nevada Other Regions Washington Manhattan, Other NY Other Texas,

<=50% 50% >50% to 55% 12% >55% to 60% 27% >60% 11% Residential Mortgage Portfolio 20 Our residential mortgage portfolio benefits from both low LTVs and smaller average loan size Resi. Mortgage Distribution by LTV1 Portfolio Highlights as of 03.31.25 (as of 03.31.25) Outstandings ▪ $16.2bn loans outstanding ▪ +1% Q-o-Q and +6% Y-o-Y Originations ▪ $0.8bn in 1Q25, unchanged from the prior quarter ▪ Primarily originated through East West Bank branches Single-family Residential ▪ $14.4bn loans outstanding ▪ +1% Q-o-Q and +6% Y-o-Y HELOC ▪ $1.8bn loans outstanding ▪ $3.5bn in undisbursed commitments ▪ 34% utilization, unchanged from 12.31.24 ▪ 77% of commitments in first lien position Resi. Mortgage Distribution by Geography3 51% Average LTV1 $438,000 Average loan size2 (as of 03.31.25) Southern California 42% Northern California 16% New York 25% Washington 6% Texas 2% Other 9% (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

Average Total Securities Portfolio and Cash Cash and Securities 21 Enhanced liquidity while supporting earnings with high-quality liquid assets ($ in billions) ▪ Securities portfolio well-positioned as a source of liquidity, interest rate risk management, and earnings support − Total securities average yield up 10bps Q-o-Q − 95% of investment portfolio 0% - 20% risk-weighted (HQLA) − 56% fixed-rate securities, 44% floating − Portfolio includes ~$7bn of Ginnie Mae floating-rate securities Highlights Securities Portfolio Composition by Risk-Weighted Asset (RWA) Distribution ($ in billions, as of 03.31.25) $10.2 $11.9 $12.7 $14.2 $15.1 $5.9 $4.1 $5.0 $4.6 $4.1 $16.1 $16.0 $17.7 $18.8 $19.2 3.19% 3.93% 4.03% 3.98% 4.08% 1Q24 2Q24 3Q24 4Q24 1Q25 Total Securities & Resale Agreements Cash & Equivalent Total Securities Average Yield $15.3bn Securities Portfolio $0.7 $0.1 $4.4 $10.1 51%‒100% RWA 21%‒50% RWA 1%‒20% RWA 0% RWA

21% 21% 30% 28% Fixed rate Hybrid in fixed rate period Variable - SOFR Variable - Prime, all other rates Loan Yields 22 Hedge Impact and Outlook Loan Portfolio by Index Rate Average Loan Rate by Portfolio (as of 03.31.25) Total fixed rate and hybrid in fixed period: 42% 56%* variable rate SFR: 45% hybrid in fixed-rate period & 40% fixed rate 1Q24 2Q24 3Q24 4Q24 1Q25 04.15.25 rate sheet price for 30-year fixed: 6.750%*47% had customer-level interest rate derivative contracts 90% variable rate ▪ $7mm negative impact to 1Q25 NII from cash flow hedges (4bps to NIM) ▪ $1bn of forward starting hedges expected to come on in 2H25, with a blended receive-fixed rate of ~4% ▪ $1bn of negative carry swaps rolled off in 1Q, which provided significant lift to hedge impact in February and March 8.06% 8.01% 7.93% 7.42% 7.06% C&I 6.39% 6.41% 6.44% 6.22% 6.20% CRE 5.71% 5.80% 5.86% 5.86% 5.94% Residential Mortgage

3.97% 3.97% 3.82% 3.32% 3.17% Money Market 4.44% 4.56% 4.55% 4.31% 3.93% Time Average Deposit and Liability Cost Deposit and Funding Cost 23 Average Deposit Rate by Portfolio 1Q24 2Q24 3Q24 4Q24 1Q25 2.84% 2.96% 2.98% 2.75% 2.54% 3.85% 3.94% 3.93% 3.63% 3.34% 3.92% 4.07% 4.05% 3.71% 3.43% 1Q24 2Q24 3Q24 4Q24 1Q25 Average cost of deposits Average cost of interest-bearing deposits Average cost of interest-bearing liabilities 2.81% 2.84% 2.98% 2.82% 2.51% Interest-bearing Checking

Appendix: GAAP to Non-GAAP Reconciliation 24 Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Net interest income before provision for credit losses (a) $ 600,201 $ 587,626 $ 565,139 FTE adjustment (b) 1,146 1,276 1,576 FTE net interest income before provision for credit losses (c)=(a)+(b) 601,347 588,902 566,715 Total noninterest income (d) 92,102 88,166 78,487 Total revenue (e)=(a)+(d) 692,303 675,792 643,626 Total revenue (FTE) (f)=(c)+(d) $ 693,449 $ 677,068 $ 645,202 Total noninterest expense (g) $ 252,148 $ 249,968 $ 246,374 Efficiency ratio (g)/(e) 36.42 % 36.99 % 38.28 % Efficiency ratio (FTE) (g)/(f) 36.36 % 36.92 % 38.19 % Pre-tax, pre-provision income (f)-(g) $ 441,301 $ 427,100 $ 398,828 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. Non-GAAP measures used consist of fully taxable equivalent (“FTE”) net interest income and total revenue. The FTE adjustment relates to tax exempt interest on certain investment securities and loans. Efficiency ratio represents noninterest expenses divided by total revenue (FTE). Pre-tax, pre- provision income represents total revenue (FTE) less noninterest expense.

Appendix: GAAP to Non-GAAP Reconciliation 25 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Adjusted net income represents net income adjusted for the tax-effected adjustments below. Adjusted diluted EPS represents diluted EPS adjusted for the tax-effected adjustments below. 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. During the first quarters of 2025 and 2024, the Company recorded $833 thousand and $10 million, respectively, of pre-tax FDIC special assessment charges. The Company recorded a $3 million FDIC special assessment reversal during the fourth quarter of 2024. Pre-tax FDIC special assessment charges/reversals are included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income. During the fourth quarter of 2024, the Company recorded $343 thousand 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. Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Net income $ 290,270 $ 293,115 $ 285,075 Less/Add: FDIC special assessment charge (reversal) 833 (3,385) 10,305 Less: DC Solar recovery — (343) — Tax effect of adjustments (1) (248) 1,109 (3,046) Adjusted net income $ 290,855 $ 290,496 $ 292,334 Diluted weighted-average number of shares outstanding 139,291 139,883 140,261 Diluted EPS $ 2.08 $ 2.10 $ 2.03 Less/Add: FDIC special assessment charge (reversal) 0.01 (0.03) 0.07 Less: DC Solar recovery — — — Tax effect of adjustments (1) — 0.01 (0.02) Adjusted diluted EPS $ 2.09 $ 2.08 $ 2.08 (1) Applied statutory tax rate of 29.73% for the three months ended March 31, 2025 and December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended March 31, 2024

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. 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. March 31, 2025 December 31, 2024 March 31, 2024 Common Stock $ 170 $ 170 $ 170 Additional paid-in capital 2,043,898 2,030,712 1,993,806 Retained earnings 7,517,711 7,311,542 6,662,919 Treasury stock (1,137,299) (1,034,110) (970,930) Accumulated other comprehensive income: AFS debt securities net unrealized losses (482,175) (542,152) (601,511) Cash flow hedges net unrealized (losses) gains 10,493 (20,787) (43,705) Foreign currency translation adjustments (23,333) (22,321) (17,517) Total accumulated other comprehensive loss (495,015) (585,260) (662,733) Stockholders’ equity (a) $ 7,929,465 $ 7,723,054 $ 7,023,232 Less: Goodwill (465,697) (465,697) (465,697) Mortgage servicing assets (4,940) (5,234) (6,234) Tangible book value (b) $ 7,458,828 $ 7,252,123 $ 6,551,301 Number of common shares at period-end (c) 137,802 138,437 139,121 Book value per share (a)/(c) $ 57.54 $ 55.79 $ 50.48 Tangible book value per share (b)/(c) $ 54.13 $ 52.39 $ 47.09 Total assets (d) $ 76,165,013 $ 75,976,475 $ 70,875,670 Less: Goodwill (465,697) (465,697) (465,697) Mortgage servicing assets (4,940) (5,234) (6,234) Tangible assets (e) $ 75,694,376 $ 75,505,544 $ 70,403,739 Total stockholders’ equity to assets ratio (a)/(d) 10.41% 10.17% 9.91% TCE ratio (b)/(e) 9.85% 9.60% 9.31%

Appendix: GAAP to Non-GAAP Reconciliation 27 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. Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Net income (f) $ 290,270 $ 293,115 $ 285,075 Add: Amortization of mortgage servicing assets 293 334 308 Tax effect of amortization adjustments (1) (87) (99) (91) Tangible net income (g) $ 290,476 $ 293,350 $ 285,292 Average stockholders’ equity (h) $ 7,869,074 $ 7,731,324 $ 6,992,558 Less: Average goodwill (465,697) (465,697) (465,697) Average mortgage servicing assets (5,120) (5,445) (6,473) Average tangible book value (i) $ 7,398,257 $ 7,260,182 $ 6,520,388 Return on average common equity (2) (f)/(h) 14.96% 15.08% 16.40% Return on average TCE (2) (g)/(i) 15.92% 16.07% 17.60% (1) Applied statutory tax rate of 29.73% for the three months ended March 31, 2025 and December 31, 2024. Applied statutory tax rate of 29.56% for the three months ended March 31, 2024 (2) Annualized

Cover Page	Apr. 22, 2025
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 22, 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

East West Bancorp (NASDAQ:EWBC)
Historical Stock Chart
From Jun 2025 to Jul 2025

Click Here for more East West Bancorp Charts.

East West Bancorp (NASDAQ:EWBC)
Historical Stock Chart
From Jul 2024 to Jul 2025

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

EWBC East West Bancorp Inc

Latest EWBC Messages

Loading Messages....

East West Bancorp Inc News

Loading Messages....

Your Recent History

Company

Business

Popular

Get The App

Trending Now

Toplists

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

EWBC East West Bancorp Inc

Latest EWBC Messages

Loading Messages....

East West Bancorp Inc News

Loading Messages....

Your Recent History

Company

Business

Popular

Get The App

Sign in

Go Ad-Free