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EAST WEST BANCORP INC

For the period ended Sep 30, 2024. Filed Nov 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.

Sep 30, 2024 · Filed Nov 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 September 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:138,629,143 shares as of October 31, 2024.

TABLE OF CONTENTS

Page
FORWARD-LOOKING STATEMENTS3
PART I — FINANCIAL INFORMATION5
Item 1.Consolidated Financial Statements5
Consolidated Balance Sheets (Unaudited)5
Consolidated Statement of Income (Unaudited)6
Consolidated Statement of Comprehensive Income (Unaudited)7
Consolidated Statement of Changes in Stockholders’ Equity (Unaudited)8
Consolidated Statement of Cash Flows (Unaudited)9
Notes to Consolidated Financial Statements (Unaudited)11
1 — Basis of Presentation11
2 — Current Accounting Developments and Summary of Significant Accounting Policies11
3 — Fair Value Measurement and Fair Value of Financial Instruments12
4 — Securities Purchased under Resale Agreements22
5 — Securities24
6 — Derivatives30
7 — Loans Receivable and Allowance for Credit Losses37
8 — Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net53
9 — Goodwill55
10 — Short-Term Borrowings and Long-Term Debt56
11 — Commitments and Contingencies56
12 — Stock Compensation Plans58
13 — Stockholders’ Equity and Earnings Per Share59
14 — Accumulated Other Comprehensive (Loss) Income60
15 — Business Segments62
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations65
Item 3.Quantitative and Qualitative Disclosures About Market Risk110
Item 4.Controls and Procedures110
PART II — OTHER INFORMATION111
Item 1.Legal Proceedings111
Item 1A.Risk Factors111
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds112
Item 5.Other Information112
Item 6.Exhibits113
GLOSSARY OF ACRONYMS114
SIGNATURE115
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.