EAST WEST BANCORP INC
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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Income Taxes
The following table presents income before income taxes, income tax expense and effective tax rate for the periods indicated:
| Year Ended December 31, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | % Change from 2024 | 2023 |
| Income before income taxes | $1,725,460 | $1,481,861 | 16% | $1,459,770 |
| Income tax expense | $400,272 | $316,275 | 27% | $298,609 |
| Effective tax rate | 23.2% | 21.3% | 20.5% | |
Income tax expense for 2025, compared with 2024, increased $84 million or 27%, primarily due to higher pre-tax income, and the one-time revaluation of deferred tax assets due to the adoption of the California single sales factor apportionment method in 2025, partially offset by favorable adjustments driven by a lower California state tax apportionment. The differences between the 2025 and 2024 effective tax rates from the federal statutory rate of 21% were primarily due to state taxes, partially offset by tax credits associated with energy, affordable housing, historic and new market tax credit investments. Refer to Note 11 — Income Taxes to the Consolidated Financial Statements in this Form 10-K.
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