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EAST WEST BANCORP INC

For the period ended Jun 30, 2024. Filed Aug 8, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 8, 2024

EWBC$130.97+1.7%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 000-24939

EAST WEST BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation or organization)

95-4703316

(I.R.S. Employer Identification No.)

135 North Los Robles Ave.,7th Floor, Pasadena, California 91101

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:

(626)768-6000

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 (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
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.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐ No☒

Number of shares outstanding of the issuer’s common stock on the latest practicable date:138,605,194 shares as of July 31, 2024.

TABLE OF CONTENTS

Page
FORWARD-LOOKING STATEMENTS3
PART I — FINANCIAL INFORMATION4
Item 1.Consolidated Financial Statements4
Consolidated Balance Sheets (Unaudited)4
Consolidated Statement of Income (Unaudited)5
Consolidated Statement of Comprehensive Income (Unaudited)6
Consolidated Statement of Changes in Stockholders’ Equity (Unaudited)7
Consolidated Statement of Cash Flows (Unaudited)8
Notes to Consolidated Financial Statements (Unaudited)10
1 — Basis of Presentation10
2 — Current Accounting Developments and Summary of Significant Accounting Policies10
3 — Fair Value Measurement and Fair Value of Financial Instruments11
4 — Securities Purchased under Resale Agreements21
5 — Securities22
6 — Derivatives28
7 — Loans Receivable and Allowance for Credit Losses35
8 — Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net51
9 — Goodwill52
10 — Short-Term Borrowings and Long-Term Debt53
11 — Commitments and Contingencies53
12 — Stock Compensation Plans55
13 — Stockholders’ Equity and Earnings Per Share56
14 — Accumulated Other Comprehensive Income (Loss)56
15 — Business Segments58
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations61
Item 3.Quantitative and Qualitative Disclosures About Market Risk103
Item 4.Controls and Procedures103
PART II — OTHER INFORMATION104
Item 1.Legal Proceedings104
Item 1A.Risk Factors104
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds105
Item 5.Other Information105
Item 6.Exhibits106
GLOSSARY OF ACRONYMS107
SIGNATURE108
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.