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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Reconciliation of GAAP to Non-GAAP Financial Measures
To supplement the Company’s Consolidated Financial Statements presented in accordance with U.S. GAAP, the Company uses certain non-GAAP measures of financial performance. Non-GAAP financial measures are not prepared in accordance with, or as an alternative to U.S. GAAP. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance that either excludes or includes amounts, or is subject to adjustments that have such an effect, that are not normally excluded or included in the most directly comparable financial measure that is calculated and presented in accordance with U.S. GAAP. The non-GAAP financial measures discussed in this Form 10-K include but are not limited to ROATCE, tangible book value per share, and adjusted loan yield. Certain additional non-GAAP financial measures that are components of the foregoing non-GAAP financial measures are also set forth and reconciled in the table below. The Company believes these non-GAAP financial measures, when taken together with the corresponding U.S. GAAP financial measures, provide meaningful supplemental information regarding its performance, and allow comparability to prior periods. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes.
The following tables present the reconciliations of U.S. GAAP to non-GAAP financial measures for 2025 and 2024:
| Year Ended December 31, | |||
|---|---|---|---|
| ($ in thousands) · 2025 · 2024 | |||
| Net income | (a) | $1,325,188 | $1,165,586 |
| Add: Amortization of mortgage servicing assets | 1,124 | 1,322 | |
| Tax effect of amortization adjustments (1) | (315) | (393) | |
| Tangible net income (non-GAAP) | (b) | $1,325,997 | $1,166,515 |
| Average stockholders’ equity | (c) | $8,276,408 | $7,315,174 |
| Less: Average goodwill | (465,697) | (465,697) | |
| Average mortgage servicing assets | (4,684) | (5,953) | |
| Average tangible book value (non-GAAP) | (d) | $7,806,027 | $6,843,524 |
| ROAE | (a)/(c) | 16.01% | 15.93% |
| ROATCE (non-GAAP) | (b)/(d) | 16.99% | 17.05% |
| December 31, | |||
|---|---|---|---|
| ($ and shares in thousands, except per share data) · 2025 · 2024 | |||
| Stockholders’ equity | (a) | $8,899,202 | $7,723,054 |
| Less: Goodwill | (465,697) | (465,697) | |
| Mortgage servicing assets | (4,119) | (5,234) | |
| Tangible book value (non-GAAP) | (b) | $8,429,386 | $7,252,123 |
| Number of common shares at period-end | (c) | 137,579 | 138,437 |
| Book value per share | (a)/(c) | $64.68 | $55.79 |
| Tangible book value per share (non-GAAP) | (b)/(c) | $61.27 | $52.39 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 · 2024 | |||
| Average loan yield | |||
| Interest income on loans | (d) | $3,494,661 | $3,490,979 |
| Less: Loan payoff discount accretion and interest recoveries | (32,296) | — | |
| Adjusted interest income on loans | (e) | $3,462,365 | $3,490,979 |
| Average loans | (f) | $54,624,959 | $52,368,780 |
| Average loan yield | (d)/(f) | 6.40% | 6.67% |
| Adjusted average loan yield | (e)/(f) | 6.34% | 6.67% |
(1)Applied blended statutory rate of 28.02% for 2025 and 29.73% for 2024.
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