EAST WEST BANCORP INC

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 28, 2025

EWBC$130.74-0.2%Stored close · as of Nov 10, 2026

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

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Contents

— Parent Company Condensed Financial Statements

Note 18 —Parent Company Condensed Financial Statements

The following tables present the Parent Company-only condensed financial statements:

CONDENSED BALANCE SHEET

	December 31,
($ in thousands)	2024	2023
ASSETS
Cash and cash equivalents due from banks	$394,919	$445,770
Investments in subsidiaries:
Bank	7,251,084	6,542,852
Nonbank	10,423	13,502
Other assets	125,552	120,742
TOTAL	$7,781,978	$7,122,866
LIABILITIES AND STOCKHOLDERS’ EQUITY
Long-term debt	$32,001	$148,249
Other liabilities	26,923	23,783
Stockholders’ equity	7,723,054	6,950,834
TOTAL	$7,781,978	$7,122,866

CONDENSED STATEMENT OF INCOME

	Year Ended December 31,
($ in thousands)	2024	2023	2022
Dividends from subsidiaries:
Bank	$540,000	$704,000	$240,000
Nonbank	127	322	157
Other investment losses	(954)	(2,738)	—
Other income	31	—	—
Total income	539,204	701,584	240,157
Interest expense on long-term debt	4,507	10,889	5,450
Compensation and employee benefits	7,283	7,204	6,708
Other expense (income) (1)	1,839	(1,086)	1,254
Total expense	13,629	17,007	13,412
Income before income tax benefit and equity in undistributed income of subsidiaries	525,575	684,577	226,745
Income tax benefit	4,143	5,844	4,269
Undistributed earnings of subsidiaries, primarily bank	635,868	470,740	897,069
Net income	$1,165,586	$1,161,161	$1,128,083

(1)Includes $3 million and $2 million in DC Solar recoveries for the years ended December 31, 2023 and 2022, respectively.

CONDENSED STATEMENT OF CASH FLOWS

	Year Ended December 31,
($ in thousands)	2024	2023	2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$1,165,586	$1,161,161	$1,128,083
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiaries, principally bank	(635,868)	(470,740)	(897,069)
Deferred income tax expense (benefit)	2,788	948	(2,193)
Net change in other assets	(6,912)	(4,160)	4,250
Net change in other liabilities	(802)	(47)	779
Other operating activities, net	1,265	2,443	1,333
Net cash provided by operating activities	526,057	689,605	235,183
CASH FLOWS FROM INVESTING ACTIVITIES
Redemption of trust preferred securities	3,558	—	—
Other investing activities, net	(494)	(95,095)	(7,390)
Net cash provided by (used in) investing activities	3,064	(95,095)	(7,390)
CASH FLOWS FROM FINANCING ACTIVITIES
Long-term debt:
Repayment of junior subordinated debt	(116,558)	—	—
Common stock:
Proceeds from issuance pursuant to various stock compensation plans and agreements	3,023	3,208	3,178
Stock tendered for payment of withholding taxes	(14,877)	(23,751)	(19,087)
Repurchase of common stock pursuant to the stock repurchase program	(143,082)	(82,174)	(99,990)
Cash dividends paid	(308,478)	(274,554)	(228,381)
Net cash used in financing activities	(579,972)	(377,271)	(344,280)
Net (decrease) increase in cash and cash equivalents	(50,851)	217,239	(116,487)
Cash and cash equivalents, beginning of year	445,770	228,531	345,018
Cash and cash equivalents, end of year	$394,919	$445,770	$228,531

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.