EAST WEST BANCORP INC
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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.
Mar 31, 2026 · Filed May 8, 2026
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Income Taxes
The following table presents income before income taxes, income tax expense and the effective tax rate for the first quarters of 2026 and 2025:
| Three Months Ended March 31, | |||
|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | % Change |
| Income before income taxes | $457,435 | $391,155 | 17% |
| Income tax expense | $99,639 | $100,885 | (1)% |
| Effective tax rate | 21.8% | 25.8% | |
First quarter 2026 income tax expense was $100 million and the effective tax rate was 21.8%, compared with first quarter 2025 income tax expense of $101 million and an effective tax rate of 25.8%. The decreases in income tax expense and effective tax rate were primarily due to the release of valuation allowance associated with foreign tax credits and favorable adjustments driven by a lower California state tax apportionment, partially offset by higher pre-tax income and a partial derecognition of a purchased tax credit.
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