EAST WEST BANCORP INC

(1)For additional information regarding the reconciliation of these non-U.S. Generally Accepted Accounting Principles (“GAAP”) financial measures, refer to Item 2. MD&A — Reconciliation of GAAP to Non-GAAP Financial Measuresin this Form 10-Q.

(2)Efficiency ratio is calculated as noninterest expense divided by total revenue.

The Company’s net income for the second quarter and first half of 2025 net income was $310 million and $601 million, respectively, which increased $22 million or 8%, and $27 million or 5%, respectively, from the same prior year periods. The year-over-year increases were primarily due to higher net interest income before provision for credit losses and noninterest income, partially offset by increases in provision for credit losses and income tax expenses, and higher noninterest expenses. Noteworthy aspects of the Company’s performance for the second quarter and first half of 2025 included:

•Net interest income and net interest margin. Second quarter 2025 net interest income before provision for credit losses was $617 million, an increase of $64 million or 12%from thesecond quarter of 2024. Second quarter 2025 net interest margin of 3.35% increased 8 basis points (“bps”) year-over-year. For the first half of 2025, net interest income before provision for credit losses was$1.2 billion, an increase of $99 million or 9%, year-over-year. The net interest margin for the first half of 2025 was 3.35%, up 5 bps year-over-year.

•Noninterest income. Second quarter 2025 noninterest income increased $2 million or 2% year-over-year to$86 million. First half of 2025 noninterest income increased $16 million or 10% year-over-year to $178 million. These increases were primarily due to higher fee-related income.

•Earnings per share growth. Second quarter 2025 basic earnings per share (“EPS”) increased 9% to $2.25, and diluted EPS increased 8% to $2.24, from the second quarter of 2024. First half of 2025 basic EPS increased 6% to $4.35, and diluted EPS increased 5% to $4.32, from the first half of 2024.

•Efficiency ratio improvement. Second quarter 2025 efficiency ratio of 36.41% improved 60 bps from 37.01% for the same period in 2024. First half of 2025 efficiency ratio of 36.41% improved 124 bps from 37.65% for the same period in 2024. The improvement in the efficiency ratios primarily reflected an increase in total revenue.

•Asset growth. Total assets reached $78.2 billion as of June 30, 2025, an increase of $2.2 billion, from December 31, 2024, primarily driven by a $1.6 billion or 15% increase in available-for-sale (“AFS”) debt securities, a $1.2 billion or 2% increase in net loans held-for-investment, and a $351 million or 97% increase in cash and due from banks. These increases were partially offset by a $1.2 billion or 24% decrease in interest-bearing cash with banks.

•Deposit growth. Total deposits were $65.0 billion as of June 30, 2025, an increase of $1.9 billion or 3% from December 31, 2024. The increase is primarily due to increases in time deposits and money market deposits.

•Strong capital levels. Stockholders’ equity was $8.2 billion as of June 30, 2025, up $479 million or 6%, from December 31, 2024. Book value per share of $59.51 as of June 30, 2025, increased $3.73 or 7%, compared with December 31, 2024. Tangible book value per share of $56.10 as of June 30, 2025, increased $3.71 or 7%, compared with December 31, 2024. Tangible book value per share is a non-GAAP financial measure. For additional details, see the reconciliation of non-GAAP financial measures presented under Item 2. MD&A — Reconciliation of GAAP to Non-GAAP Financial Measures in this Form 10-Q.