8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

October 20, 2022

EAST WEST BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

000-24939

(Commission File Number)

95-4703316

(IRS Employer Identification No.)

135 North Los Robles Ave., 7th Floor, Pasadena, California 91101

(Address of principal executive offices) (Zip code)

(626) 768-6000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	EWBC	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On October 20, 2022, East West Bancorp, Inc. (the “Company”) announced its financial results for the quarter ended September 30, 2022. A copy of the Company’s press release (the “Press Release”) is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 2.02. The Press Release is “furnished” pursuant to General Instruction B.2 of Form 8-K and the information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed incorporated by reference into any filings the Company has made or may make under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, except as otherwise expressly stated in such filing.

Item 7.01. Regulation FD Disclosure

On October 20, 2022, the Company will hold a conference call to discuss its financial results for the quarter ended September 30, 2022 and other matters relating to the Company. The Company has also made available on its website, www.eastwestbank.com, presentation materials containing certain historical and forward-looking information relating to the Company (the “Presentation Materials”). The Presentation Materials are furnished as Exhibit 99.2 and are incorporated by reference in this Item 7.01. All information in Exhibit 99.2 is presented as of the particular date or dates referenced therein, and the Company does not undertake any obligation to, and disclaims any duty to, update any of the information provided. The information provided in Item 7.01 of this report, including Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such Section, nor shall such information be deemed incorporated by reference into any filings the Company has made or may make under the Securities Act or the Exchange Act, except as otherwise expressly stated in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1	Press Release, dated October 20, 2022.
99.2	Presentation Materials, dated October 20, 2022.
104	Cover Page Interactive Data (formatted in Inline XBRL).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	EAST WEST BANCORP, INC.
Date: October 20, 2022	By:	/s/ Irene H. Oh
		Irene H. Oh
		Executive Vice President and Chief Financial Officer

3

Document

	Exhibit 99.1
	East West Bancorp, Inc.
135 N. Los Robles Ave., 7th Fl.
Pasadena, CA 91101
Tel. 626.768.6000			NEWS RELEASE
---		FOR INVESTOR INQUIRIES, CONTACT:
---	---
Irene Oh	Julianna Balicka
Chief Financial Officer	Director of Investor Relations and Corporate Finance
T: (626) 768-6360	T: (626) 768-6985
E: irene.oh@eastwestbank.com	E: julianna.balicka@eastwestbank.com

EAST WEST BANCORP REPORTS NET INCOME FOR THIRD QUARTER 2022

OF $295 MILLION AND DILUTED EARNINGS PER SHARE OF $2.08;

RECORD NET INTEREST INCOME OF $552 MILLION

Pasadena, California – October 20, 2022 – East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported its financial results for the third quarter of 2022. Third quarter 2022 net income was $295.3 million, or $2.08 per diluted share; diluted earnings per share grew 58% linked quarter annualized and 32% year-over-year.

“This was another quarter of outstanding results. Net interest income increased to a record $552 million, up 66% linked quarter annualized, and our net interest margin expanded an impressive 45 basis points quarter-over-quarter to 3.68%,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “Our efficiency improved, expanding all profitability ratios. For the third quarter of 2022, we returned 1.9% on average assets and 20.3% on average equity.”

“Total loans reached a record $47.5 billion as of September 30, 2022, up 8% linked quarter annualized, with growth across all our major loan categories. Asset quality continued to be healthy, with very low charge-offs and criticized loans decreasing 11% from June 30, 2022.”

“All our capital ratios expanded in the third quarter of 2022, driven by the strength of our earnings growth. We ended the quarter with a common equity tier 1 ratio of 12.3% and a tangible common equity ratio1 of 8.35%,” continued Ng.

“With our industry-leading operating margins and strong capital, we are well positioned to navigate the changing economic conditions, and help our customers prosper and maximize personal and business opportunities. We are looking forward to finishing 2022 on a high note and entering 2023 with strength and confidence,” concluded Ng.

1 See reconciliation of GAAP to non-GAAP financial measures in Table 13.

FINANCIAL HIGHLIGHTS

	Three Months Ended		Yr-o-Yr Change
($ in millions, except per share data)	September 30, 2022	$	%	$	%
Total Loans	47,457	$926	2%	$6,975	17%
Total Deposits	53,857	(486)	(1)	501	1
Total Revenue	627	$76	14%	$159	34%
Adj. Pre-tax Pre-provision Income2	432	62	17	130	43
Net Income	295	37	14	70	31
Diluted Earnings per Share	2.08	$0.27	15%	$0.50	32%

All values are in US Dollars.

BALANCE SHEET

•Record Assets – Total assets reached $62.6 billion as of September 30, 2022, up $181.8 million, or 0.3% (1% annualized), from $62.4 billion as of June 30, 2022. Year-over-year, total assets grew $1.6 billion, or 3%, from $61.0 billion as of September 30, 2021.

Third quarter 2022 average interest-earning assets of $59.5 billion were up $810.0 million, or 1% (5% annualized), from $58.7 billion in the second quarter of 2022. Quarter-over-quarter, average loan growth of $2.2 billion was partially offset by declines in other, lower yielding interest-earning assets.

•Record Loans – Total loans reached $47.5 billion as of September 30, 2022, an increase of $926.2 million, or 2% (8% annualized), from $46.5 billion as of June 30, 2022. Year-over-year, total loans grew $7.0 billion, or 17%, from $40.5 billion as of September 30, 2021.

Third quarter 2022 average loans of $46.9 billion grew $2.2 billion, or 5% (20% linked quarter annualized), with solid growth spread across all our major loan categories, led by residential mortgage and commercial real estate loans.

•Total Deposits – Total deposits were $53.9 billion as of September 30, 2022, a decrease of $0.5 billion, or 1% (4% annualized), from $54.3 billion as of June 30, 2022. Year-over-year, deposits grew $0.5 billion, or 1%, from $53.4 billion as of September 30, 2021.

Third quarter 2022 average deposits of $54.1 billion decreased $78.3 million, essentially unchanged from the second quarter. Quarter-over-quarter, growth in average time deposits, interest-bearing checking and money market accounts was offset by a decrease in average noninterest-bearing demand deposits. Average noninterest-bearing deposits made up 41% of average total deposits in the third quarter of 2022, compared with 44% in the second quarter of 2022 and 43% in the third quarter of 2021.

•Strong Capital Levels – As of September 30, 2022, stockholders’ equity was $5.7 billion, or $40.17 per common share, and tangible equity3 per common share was $36.80; each increasing 1% (4% annualized) quarter-over-quarter. As of September 30, 2022, the tangible equity to tangible assets ratio was 8.35%, an increase of six basis points quarter-over-quarter. The common equity tier 1 (“CET1”) capital ratio was 12.3%, and the total risk-based capital ratio was 13.6% as of September 30, 2022.

2 See reconciliation of GAAP to non-GAAP financial measures in Table 12.
3 See reconciliation of GAAP to non-GAAP financial measures in Table 13.

OPERATING RESULTS

Third Quarter Earnings – Third quarter 2022 net income was $295.3 million, an increase of 14%, or 57% annualized, from $258.3 million for the second quarter of 2022, and an increase of 31% from $225.4 million for the third quarter of 2021. Third quarter 2022 diluted earnings per share were $2.08, an increase of 15%, or 58% annualized, from $1.81 per diluted share for the second quarter 2022, and an increase of 32% from $1.57 per diluted share for the year-ago quarter.

Third Quarter 2022 Compared to Second Quarter 2022

Net Interest Income and Net Interest Margin

Record net interest income (“NII”) totaled $551.8 million, an increase of 17%, or 66% annualized, from $473.0 million. Net interest margin (“NIM”) of 3.68% expanded 45 basis points from 3.23%.

•NII growth and NIM expansion were driven by expanding earning asset yields and loan growth, partially offset by an increase in the cost of funds.

•The average loan yield was 4.75%, up 80 basis points from the second quarter. The average interest-earning asset yield was 4.19%, up 77 basis points from the second quarter. Average loans made up 79% of average interest-earning assets in the third quarter of 2022, compared with 76% in the second quarter of 2022.

•The average cost of funds was 0.55%, up 35 basis points from the second quarter. The average cost of deposits was 0.51%, up 34 basis points, and the average cost of interest-bearing deposits was 0.86%, up 56 basis points from the second quarter.

•The changes in yields and rates reflected rising benchmark interest rates.

Noninterest Income

Noninterest income totaled $75.6 million in the third quarter, a decrease of $2.9 million, or 4%, from $78.4 million in the second quarter.

•Fee income and net gains on sales of loans were $69.0 million, an increase of $4.2 million, or 7% (26% annualized), from $64.8 million in the second quarter. Growth in wealth management fees, deposit account fees and gains on sale of SBA loans was partially offset by decreased foreign exchange income.

Noninterest Expense

Noninterest expense totaled $216.0 million in the third quarter, compared with $196.9 million in the second quarter. Third quarter noninterest expense consisted of $195.6 million of adjusted noninterest expense4, $19.9 million in amortization of tax credit and other investments, and $0.5 million in amortization of core deposit intangibles.

•Adjusted noninterest expense of $195.6 million increased $14.2 million, or 8% annualized, from $181.4 million in the second quarter, driven by higher compensation and employee benefits.

•Amortization of tax credit and other investments totaled $19.9 million in the third quarter, compared with $15.0 million in the second quarter. Quarter-over-quarter variability in the amortization of tax credits and other investments partially reflects the impact of investments that close in a given period.

•The adjusted efficiency ratio4 was 31.2% in the third quarter, compared with 32.9% in the second quarter.

TAX RELATED ITEMS

Third quarter 2022 income tax expense was $89.0 million compared with income tax expense of $82.7 million for the second quarter of 2022. The year-to-date effective tax rate for the first nine months of 2022 was 22.7%.

4 See reconciliation of GAAP to non-GAAP financial measures in Table 12.

ASSET QUALITY

The asset quality of our loan portfolio continued to be solid and stable.

•Criticized loans decreased $117.4 million, or 11%, quarter-over-quarter to $905.2 million as of September 30, 2022, down from $1,022.6 million as of June 30, 2022. Special mention loans decreased 20% quarter-over-quarter to $471.0 million, and classified loans were essentially unchanged at $434.2 million.

•The criticized loans ratio decreased 29 basis points quarter-over-quarter to 1.91% of loans held-for-investment (“HFI”) as of September 30, 2022, down from 2.20% as of June 30, 2022. The special mention loans ratio decreased 28 basis points quarter-over-quarter to 0.99%, and the classified loans ratio decreased one basis point to 0.92%.

•As of September 30, 2022, nonperforming assets were $97.0 million, or 0.16% of total assets, compared with $89.9 million, or 0.14% of total assets, as of June 30, 2022.

•Third quarter 2022 net charge-offs were $6.6 million, or annualized 0.06% of average loans HFI, compared with net recoveries of $6.6 million, or annualized 0.06% of average loans HFI, for the second quarter of 2022.

•The allowance for loan losses totaled $582.5 million, or 1.23% of loans HFI, as of September 30, 2022, compared with $563.3 million, or 1.21% of loans HFI, as of June 30, 2022. The quarter-over-quarter build in the allowance coverage largely reflects the current macroeconomic outlook and loan growth during the quarter.

Provision for credit losses was $27.0 million for the third quarter of 2022, compared with $13.5 million for the second quarter of 2022.

CAPITAL STRENGTH

Capital levels for East West are strong. The following table presents the regulatory capital metrics as of September 30, 2022, June 30, 2022 and September 30, 2021.

EWBC Risk-Based Capital Ratios
($ in millions)	September 30, 2022 (a)	June 30, 2022 (a)	September 30, 2021 (a)
CET1 capital ratio	12.3%	12.0%	12.8%
Tier 1 capital ratio	12.3%	12.0%	12.8%
Total capital ratio	13.6%	13.2%	14.2%
Leverage ratio	9.6%	9.3%	8.8%
Risk-Weighted Assets (“RWA”) (b)	$49,254	$48,499	$42,128

(a)The Company has elected to use the 2020 CECL transition provision in the calculation of its September 30, 2022, June 30, 2022 and September 30, 2021 regulatory capital ratios. The Company’s September 30, 2022 regulatory capital ratios and RWA are preliminary.

(b)Under regulatory guidelines, on-balance sheet assets and credit equivalent amounts of derivatives and off-balance sheet items are assigned to one of several broad risk categories based on the nature of the obligor, or, if relevant, the guarantor or the nature of any collateral. The aggregate dollar value in each risk category is then multiplied by the risk weight associated with that category. The resulting weighted values from each of the risk categories are aggregated for determining total RWA.

DIVIDEND PAYOUT AND CAPITAL ACTIONS

East West’s Board of Directors has declared fourth quarter 2022 dividends for the Company’s common stock. The common stock cash dividend of $0.40 per share is payable on November 15, 2022, to stockholders of record on November 1, 2022.

On March 3, 2020, East West’s Board of Directors authorized the repurchase of up to $500 million of East West’s common stock, of which $254 million remains available. East West did not repurchase any shares during the third quarter of 2022.

Conference Call

East West will host a conference call to discuss third quarter 2022 earnings with the public on Thursday, October 20, 2022, at 8:30 a.m. PT/11:30 a.m. ET. The public and investment community are invited to listen as management discusses third quarter 2022 results and operating developments.

•The following dial-in information is provided for participation in the conference call: calls within the U.S. – (877) 506-6399; calls within Canada – (855) 669-9657; international calls – (412) 902-6699.

•A presentation to accompany the earnings call will be available on the Investor Relations page of the Company’s website at www.eastwestbank.com/investors.

•A listen-only live broadcast of the call will also be available on the Investor Relations page of the Company’s website at www.eastwestbank.com/investors.

•A replay of the conference call will be available on October 20, 2022, at 11:30 a.m. PT/2:30 p.m. ET through November 20, 2022. The replay numbers are: within the U.S. – (877) 344-7529; within Canada – (855) 669-9658; international calls – (412) 317-0088; and the replay access code is: 3874614.

About East West

East West Bancorp, Inc. is a public company with total assets of $62.6 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, operating over 120 locations in the United States and in China. The Company’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington. In China, East West’s presence includes full-service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, and Xiamen. For more information on East West, visit the Company’s website at www.eastwestbank.com.

Forward-Looking Statements

Certain matters set forth herein (including any exhibits hereto) contain forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. In addition, the Company may make forward-looking statements in other documents that it files with, or furnishes to, the U.S. Securities and Exchange Commission (“SEC”) and management may make forward-looking statements to analysts, investors, media members and others. Forward-looking statements are those that do not relate to historical facts, and that are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company’s control. These statements may relate to the Company’s financial condition, results of operations, plans, objectives, future performance and/or business and usually can be identified by the use of forward-looking language, such as “anticipates,” “assumes,” “believes,” “can,” “continues,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “likely,” “may,” “might,” “objective,” “plans,” “potential,” “projects,” “remains,” “should,” “target,” “trend,” “will,” “would,” or similar expressions, and the negative thereof. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.

There are a number of important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to: changes in the global economy, including an economic slowdown, market or supply chain disruption, level of inflation, interest rate environment, housing prices, employment levels, rate of growth and general business conditions; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit; changes in local, regional and global business, economic and political conditions and geopolitical events; the economic, financial, reputational and other impacts of the ongoing Coronavirus Disease 2019 (“COVID-19”) pandemic, including variants thereof, and any other pandemic, epidemic or health-related crisis, as well as a deterioration of asset quality and an increase in credit losses due to the COVID-19 pandemic; changes in laws or the regulatory environment, including regulatory reform initiatives and policies of the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System (“Federal Reserve”), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the SEC, the Consumer Financial Protection Bureau, and the California Department of Financial Protection and Innovation - Division of Financial Institutions; changes and effects thereof in trade, monetary and fiscal policies and laws, including the ongoing economic and political disputes between the U.S. and the People’s Republic of China and the monetary policies of the Federal Reserve; changes in the commercial and consumer real estate markets; changes in consumer or commercial spending, savings and borrowing habits, and patterns and behaviors; fluctuations in the Company’s stock price; the impact from potential changes to income tax laws and regulations, federal spending and economic stimulus programs; the Company’s ability to compete effectively against financial institutions in its banking markets and other entities, including as a result of emerging technologies; the soundness of other financial institutions; the success and timing of the Company’s business strategies; the Company’s ability to retain key officers and employees; impact on the Company’s funding costs, net interest income and net interest margin from changes in key variable market interest rates, competition, regulatory requirements and the Company’s product mix; changes in the Company’s costs of operation, compliance and expansion; the Company’s ability to adopt and successfully integrate new technologies into its business in a strategic manner; the impact of the benchmark interest rate reform in the U.S. including the transition away from the U.S. dollar (“USD”) London Interbank Offered Rate (“LIBOR”) to alternative reference rates; the impact of communications or technology disruption, failure in, or breach of, the Company’s operational or security systems or infrastructure, or those of third party vendors with which the Company does business, including as a result of cyber-attacks; and other similar matters which could result in, among other things, confidential and/or proprietary information being disclosed or misused, and materially impact the Company’s ability to provide services to its clients; the adequacy of the Company’s risk management framework, disclosure controls and procedures and internal control over financial reporting; future credit quality and performance, including the Company’s expectations regarding future credit losses and allowance levels; the impact of adverse changes to the Company’s credit ratings from major credit rating agencies; impact of adverse judgments or settlements in litigation; the impact on the Company’s operations due to political developments, pandemics, wars, civil unrest, terrorism or other hostilities that may disrupt or increase volatility in securities or otherwise affect business and economic conditions; heightened regulatory and governmental oversight and scrutiny of the Company’s business practices, including dealings with consumers; the impact of reputational risk from negative publicity, fines, penalties and other negative consequences from regulatory violations, legal actions and the Company’s interactions with business partners, counterparties, service providers and other third parties; the impact of regulatory investigations and enforcement actions; changes in accounting standards as may be required by the Financial Accounting Standards Board or other regulatory agencies and their impact on critical accounting policies and assumptions; the Company’s capital requirements and its ability to generate capital internally or raise capital on favorable terms; the impact on the Company’s liquidity due to changes in the Company’s ability to receive dividends from its subsidiaries; any future strategic acquisitions or divestitures; changes in the equity and debt securities markets; fluctuations in foreign currency exchange rates; the impact of increased focus on social, environmental and sustainability matters, which may affect the Company’s operations as well as those of its customers and the economy more broadly; significant turbulence or disruption in the capital or financial markets, which could result in, among other things, reduced investor demand for loans, a reduction in the availability of funding or increases in funding costs, declines in asset values and/or recognition of allowance for credit losses on securities held in the Company’s debt securities and equity securities portfolio; and the impact of climate change, natural or man-made disasters or calamities, such as wildfires, droughts and earthquakes, all of which are particularly common in California, or other events that may directly or indirectly result in a negative impact on the Company’s financial performance.

For a more detailed discussion of some of the factors that might cause such differences, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading Item 1A. Risk Factors and the information set forth under Item 1A. Risk Factors in the Company’s Quarterly Reports on Form 10-Q. The Company does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
( and shares in thousands, except per share data)
(unaudited)
Table 1
										September 30, 2022<br><br>% or Basis Point Change
	September 30, 2022			June 30, 2022			September 30, 2021			Qtr-o-Qtr			Yr-o-Yr
Assets
	$	554,260		$	688,936		$	594,631		(19.5)	%		(6.8)	%
	1,609,093			1,213,117			4,258,270			32.6			(62.2)
	2,163,353			1,902,053			4,852,901			13.7			(55.4)
	630,543			712,709			855,162			(11.5)			(26.3)
	892,986			1,422,794			2,596,142			(37.2)			(65.6)
	5,906,090			6,255,504			9,713,006			(5.6)			(39.2)
	3,012,667			3,028,302			—			(0.5)			100.0
	14,500			28,464			—			(49.1)			100.0
	46,859,738			45,938,806			39,921,301			2.0			17.4
	725,254			634,304			664,795			14.3			9.1
	465,697			465,697			465,697			—			—
	105,411			107,588			99,785			(2.0)			5.6
	1,799,822			1,898,062			1,790,321			(5.2)			0.5
	$	62,576,061		$	62,394,283		$	60,959,110		0.3	%		2.7	%
Liabilities and Stockholders’ Equity
	$	53,857,362		$	54,343,354		$	53,356,190		(0.9)	%		0.9	%
	200,000			—			—			100.0			100.0
	324,920			174,776			248,898			85.9			30.5
	611,785			611,785			300,000			—			103.9
	152,610			152,663			151,795			(0.0)			0.5
	113,477			115,387			107,107			(1.7)			5.9
	1,655,239			1,386,836			1,104,919			19.4			49.8
	56,915,393			56,784,801			55,268,909			0.2			3.0
	5,660,668			5,609,482			5,690,201			0.9			(0.5)
	$	62,576,061		$	62,394,283		$	60,959,110		0.3	%		2.7	%
	$	40.17		$	39.81		$	40.10		0.9	%		0.2	%
	$	36.80		$	36.44		$	36.75		1.0			0.1
	140,918			140,917			141,884			0.0			(0.7)
	8.35		%	8.29		%	8.62		%	6		bps	(27)		bps

All values are in US Dollars.

(1)See reconciliation of GAAP to non-GAAP financial measures in Table 13.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
TOTAL LOANS AND DEPOSITS DETAIL
( in thousands)
(unaudited)
Table 2
							September 30, 2022<br><br>% Change
	September 30, 2022		June 30, 2022		September 30, 2021		Qtr-o-Qtr		Yr-o-Yr
Loans:
Commercial:
	$	15,625,072	$	15,377,117	$	13,831,649	1.6	%	13.0	%
	13,573,157		13,566,748		11,818,065		—		14.9
	4,559,302		4,443,704		3,340,378		2.6		36.5
	556,894		515,857		376,921		8.0		47.7
	18,689,353		18,526,309		15,535,364		0.9		20.3
Consumer:
	10,855,345		10,234,473		9,021,801		6.1		20.3
	2,184,924		2,280,080		1,963,622		(4.2)		11.3
	13,040,269		12,514,553		10,985,423		4.2		18.7
	87,561		84,097		129,269		4.1		(32.3)
Total loans HFI (2)	47,442,255		46,502,076		40,481,705		2.0		17.2
Loans HFS	14,500		28,464		—		(49.1)		100.0
	47,456,755		46,530,540		40,481,705		2.0		17.2
Allowance for loan losses	(582,517)		(563,270)		(560,404)		3.4		3.9
	$	46,874,238	$	45,967,270	$	39,921,301	2.0		17.4
Deposits:
	$	21,645,394	$	23,028,831	$	23,175,471	(6.0)	%	(6.6)	%
	6,822,343		7,094,726		6,530,601		(3.8)		4.5
	12,113,292		11,814,402		12,555,879		2.5		(3.5)
	2,917,770		3,027,819		2,855,597		(3.6)		2.2
	10,358,563		9,377,576		8,238,642		10.5		25.7
	$	53,857,362	$	54,343,354	$	53,356,190	(0.9)	%	0.9	%

All values are in US Dollars.

(1)Includes $110.9 million, $153.3 million and $807.3 million of Paycheck Protection Program (“PPP”) loans as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively. Excluding PPP loans, total loans were $47.35 billion, $46.38 billion and $39.67 billion as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

(2)Includes $(60.3) million, $(56.2) million and $(54.3) million of net deferred loan fees and net unamortized premiums as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME
( and shares in thousands, except per share data)
(unaudited)
Table 3
	Three Months Ended						September 30, 2022<br><br>% Change
	September 30, 2022		June 30, 2022		September 30, 2021		Qtr-o-Qtr		Yr-o-Yr
Interest and dividend income (1)	$	628,236	$	499,754	$	415,307	25.7	%	51.3	%
Interest expense	76,427		26,802		19,601		185.2		289.9
Net interest income before provision for (reversal of) credit losses	551,809		472,952		395,706		16.7		39.4
Provision for (reversal of) credit losses	27,000		13,500		(10,000)		100.0		NM
Net interest income after provision for (reversal of) credit losses	524,809		459,452		405,706		14.2		29.4
Noninterest income	75,552		78,444		73,109		(3.7)		3.3
Noninterest expense	215,973		196,860		205,384		9.7		5.2
Income before income taxes	384,388		341,036		273,431		12.7		40.6
Income tax expense	89,049		82,707		47,982		7.7		85.6
Net income	$	295,339	$	258,329	$	225,449	14.3	%	31.0	%
Earnings per share (“EPS”)
- Basic	$	2.10	$	1.83	$	1.59	14.7	%	31.9	%
- Diluted	$	2.08	$	1.81	$	1.57	14.6		32.0
Weighted-average number of shares outstanding
- Basic	140,917		141,429		141,880		(0.4)	%	(0.7)	%
- Diluted	142,011		142,372		143,143		(0.3)		(0.8)
	Three Months Ended						September 30, 2022<br><br>% Change
	September 30, 2022		June 30, 2022		September 30, 2021		Qtr-o-Qtr		Yr-o-Yr
Noninterest income:
	$	20,289	$	20,142	$	17,516	0.7	%	15.8	%
	23,636		22,372		18,508		5.6		27.7
	8,761		9,801		7,156		(10.6)		22.4
	10,083		11,361		13,101		(11.2)		(23.0)
	8,903		6,539		5,598		36.2		59.0
	2,129		917		3,329		132.2		(36.0)
	—		28		354		(100.0)		(100.0)
	(580)		4,863		5,349		(111.9)		(110.8)
	2,331		2,421		2,198		(3.7)		6.1
Total noninterest income	$	75,552	$	78,444	$	73,109	(3.7)	%	3.3	%
Noninterest expense:
	$	127,580	$	113,364	$	105,751	12.5	%	20.6	%
	15,920		15,469		15,851		2.9		0.4
	4,875		4,927		4,641		(1.1)		5.0
	6,707		5,671		4,136		18.3		62.2
	3,725		3,486		3,575		6.9		4.2
	6,889		6,572		8,426		4.8		(18.2)
	1,620		2,021		1,635		(19.8)		(0.9)
	689		1,047		2,363		(34.2)		(70.8)
	28,094		29,324		20,998		(4.2)		33.8
	19,874		14,979		38,008		32.7		(47.7)
Total noninterest expense	$	215,973	$	196,860	$	205,384	9.7	%	5.2	%

All values are in US Dollars.

NM - Not meaningful.

(1)Includes $524 thousand, $1.4 million and $15.2 million of interest income related to PPP loans for the three months ended September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME
( and shares in thousands, except per share data)
(unaudited)
Table 4
	Nine Months Ended				September 30, 2022<br><br>% Change
	September 30, 2022		September 30, 2021		Yr-o-Yr
Interest and dividend income (1)	$	1,560,019	$	1,196,026	30.4%
Interest expense	119,645		70,152		70.6
Net interest income before provision for (reversal of) credit losses	1,440,374		1,125,874		27.9
Provision for (reversal of) credit losses	48,500		(25,000)		NM
Net interest income after provision for (reversal of) credit losses	1,391,874		1,150,874		20.9
Noninterest income	233,739		214,406		9.0
Noninterest expense	602,283		585,984		2.8
Income before income taxes	1,023,330		779,296		31.3
Income tax expense	232,010		124,111		86.9
Net income	$	791,320	$	655,185	20.8%
EPS
- Basic	$	5.59	$	4.62	21.1%
- Diluted	$	5.55	$	4.58	21.2
Weighted-average number of shares outstanding
- Basic	141,453		141,799		(0.2)%
- Diluted	142,601		143,051		(0.3)
	Nine Months Ended				September 30, 2022<br>% Change
	September 30, 2022		September 30, 2021		Yr-o-Yr
Noninterest income:
	$	59,869	$	56,965	5.1%
	66,323		51,233		29.5
	29,695		20,981		41.5
	34,143		35,634		(4.2)
	21,494		20,460		5.1
	5,968		6,601		(9.6)
	1,306		1,178		10.9
	5,910		13,870		(57.4)
	9,031		7,484		20.7
Total noninterest income	$	233,739	$	214,406	9.0%
Noninterest expense:
	$	357,213	$	318,985	12.0%
	46,853		47,150		(0.6)
	14,519		12,791		13.5
	17,071		11,845		44.1
	10,876		12,088		(10.0)
	20,755		23,106		(10.2)
	5,474		4,978		10.0
	2,454		5,840		(58.0)
	78,315		58,544		33.8
	48,753		90,657		(46.2)
Total noninterest expense	$	602,283	$	585,984	2.8%

All values are in US Dollars.

NM - Not meaningful.

(1)Includes $7.0 million and $45.6 million of interest income related to PPP loans for the nine months ended September 30, 2022 and 2021, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED AVERAGE BALANCES
( in thousands)
(unaudited)
Table 5
	Three Months Ended						September 30, 2022<br><br>% Change		Nine Months Ended				September 30, 2022<br><br>% Change
	September 30,<br>2022		June 30,<br>2022		September 30,<br>2021		Qtr-o-Qtr	Yr-o-Yr	September 30,<br>2022		September 30,<br>2021		Yr-o-Yr
Loans:
Commercial:
	$	15,282,661	$	14,986,876	$	13,531,338	2.0%	12.9%	$	14,850,849	$	13,678,462	8.6%
	13,533,482		13,049,058		11,747,607		3.7	15.2	12,958,562		11,564,946		12.1
	4,531,351		4,112,411		3,248,281		10.2	39.5	4,133,975		3,139,209		31.7
	532,800		475,933		415,812		11.9	28.1	467,731		480,514		(2.7)
	18,597,633		17,637,402		15,411,700		5.4	20.7	17,560,268		15,184,669		15.6
Consumer:
	10,676,022		9,624,242		8,962,533		10.9	19.1	9,809,549		8,645,135		13.5
	2,216,355		2,290,378		1,912,629		(3.2)	15.9	2,230,060		1,793,928		24.3
	12,892,377		11,914,620		10,875,162		8.2	18.5	12,039,609		10,439,063		15.3
	81,870		87,590		141,951		(6.5)	(42.3)	97,794		139,557		(29.9)
	$	46,854,541	$	44,626,488	$	39,960,151	5.0%	17.3%	$	44,548,520	$	39,441,751	12.9%
Interest-earning assets	$	59,478,689	$	58,668,677	$	58,239,480	1.4%	2.1%	$	58,949,457	$	55,350,645	6.5%
Total assets	$	63,079,444	$	62,232,841	$	61,359,533	1.4%	2.8%	$	62,361,618	$	58,263,002	7.0%
Deposits:
	$	22,423,633	$	23,887,452	$	23,169,323	(6.1)%	(3.2)%	$	23,244,247	$	20,345,370	14.2%
	6,879,632		6,712,890		6,646,515		2.5	3.5	6,747,710		6,571,231		2.7
	12,351,571		12,319,930		12,604,827		0.3	(2.0)	12,526,222		12,262,173		2.2
	2,961,634		2,970,007		2,792,702		(0.3)	6.0	2,954,098		2,715,114		8.8
	9,435,063		8,239,571		8,283,265		14.5	13.9	8,596,728		8,635,249		(0.4)
	$	54,051,533	$	54,129,850	$	53,496,632	(0.1)%	1.0%	$	54,069,005	$	50,529,137	7.0%
Interest-bearing liabilities	$	32,703,323	$	30,957,475	$	31,039,410	5.6%	5.4%	$	31,631,865	$	31,099,675	1.7%
Stockholders’ equity	$	5,772,638	$	5,682,427	$	5,680,306	1.6%	1.6%	$	5,765,637	$	5,482,705	5.2%

All values are in US Dollars.

(1)Average balances of PPP loans were $127.6 million, $223.2 million and $1.11 billion for the three months ended September 30, 2022, June 30, 2022 and September 30, 2021, respectively, and $252.8 million and $1.63 billion for the nine months ended September 30, 2022 and 2021, respectively.

(2)Includes loans HFS.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
( in thousands)
(unaudited)
Table 6
	Three Months Ended
	September 30, 2022						June 30, 2022
	Average				Average		Average				Average
	Balance		Interest		Yield/Rate (1)		Balance		Interest		Yield/Rate (1)
Assets
Interest-earning assets:
	$	2,287,010	$	9,080	1.58	%	$	2,797,711	$	4,787	0.69	%
	1,037,292		6,769		2.59	%	1,641,723		8,553		2.09	%
	6,204,729		38,383		2.45	%	6,503,677		33,438		2.06	%
	3,017,063		12,709		1.67	%	3,021,239		12,738		1.69	%
	46,854,541		560,452		4.75	%	44,626,488		439,416		3.95	%
	78,054		843		4.28	%	77,839		822		4.24	%
	59,478,689		628,236		4.19	%	58,668,677		499,754		3.42	%
Noninterest-earning assets:
	615,836						712,884
	(566,369)						(545,489)
	3,551,288						3,396,769
	$	63,079,444					$	62,232,841
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
	$	6,879,632	$	8,493	0.49	%	$	6,712,890	$	3,178	0.19	%
	12,351,571		33,101		1.06	%	12,319,930		8,892		0.29	%
	2,961,634		2,268		0.30	%	2,970,007		1,864		0.25	%
	9,435,063		25,032		1.05	%	8,239,571		8,554		0.42	%
	211,794		1,177		2.20	%	64,145		241		1.51	%
	86,243		392		1.80	%	138,960		559		1.61	%
	624,821		4,421		2.81	%	359,778		2,418		2.70	%
	152,565		1,543		4.01	%	152,194		1,096		2.89	%
	32,703,323		76,427		0.93	%	30,957,475		26,802		0.35	%
Noninterest-bearing liabilities and stockholders’ equity:
	22,423,633						23,887,452
	2,179,850						1,705,487
	5,772,638						5,682,427
	$	63,079,444					$	62,232,841
Interest rate spread					3.26	%					3.07	%
Net interest income and net interest margin			$	551,809	3.68	%			$	472,952	3.23	%

All values are in US Dollars.

(1)Annualized.

(2)Includes loans HFS. Average balances of PPP loans were $127.6 million and $223.2 million for the three months ended September 30, 2022 and June 30, 2022, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
( in thousands)
(unaudited)
Table 7
		Three Months Ended
	September 30, 2022						September 30, 2021
	Average				Average		Average					Average
	Balance		Interest		Yield/Rate (1)		Balance			Interest		Yield/Rate (1)
Assets
Interest-earning assets:
		$	2,287,010	$	9,080	1.58		%	$	7,036,823	$	4,521	0.25	%
		1,037,292		6,769		2.59		%	2,382,741		8,957		1.49	%
		6,204,729		38,383		2.45		%	8,782,682		37,826		1.71	%
		3,017,063		12,709		1.67		%	—		—		—	%
		46,854,541		560,452		4.75		%	39,960,151		363,503		3.61	%
		78,054		843		4.28		%	77,083		500		2.57	%
		59,478,689		628,236		4.19		%	58,239,480		415,307		2.83	%
Noninterest-earning assets:
		615,836							627,640
		(566,369)							(584,827)
		3,551,288							3,077,240
		$	63,079,444						$	61,359,533
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
		$	6,879,632	$	8,493	0.49		%	$	6,646,515	$	3,186	0.19	%
		12,351,571		33,101		1.06		%	12,604,827		3,446		0.11	%
		2,961,634		2,268		0.30		%	2,792,702		1,943		0.28	%
		9,435,063		25,032		1.05		%	8,283,265		7,395		0.35	%
		211,794		1,177		2.20		%	620		—		—	%
		86,243		392		1.80		%	248,614		857		1.37	%
		624,821		4,421		2.81		%	310,997		2,012		2.57	%
		152,565		1,543		4.01		%	151,870		762		1.99	%
		32,703,323		76,427		0.93		%	31,039,410		19,601		0.25	%
Noninterest-bearing liabilities and stockholders’ equity:
		22,423,633							23,169,323
		2,179,850							1,470,494
		5,772,638							5,680,306
		$	63,079,444						$	61,359,533
Interest rate spread						3.26		%					2.58	%
Net interest income and net interest margin				$	551,809	3.68		%			$	395,706	2.70	%

All values are in US Dollars.

(1)Annualized.

(2)Includes loans HFS. Average balances of PPP loans were $127.6 million and $1.11 billion for the three months ended September 30, 2022 and September 30, 2021, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
YEAR-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
( in thousands)
(unaudited)
Table 8
			Nine Months Ended
								September 30, 2021
					Average			Average						Average
		Interest			Yield/Rate (1)			Balance			Interest			Yield/Rate (1)
Assets
Interest-earning assets:
	Interest-bearing cash and deposits with banks		$	3,175,596		$	17,127		0.72	%		$	6,078,982		$	11,781	0.26	%
	Resale agreements		1,588,452			23,705			2.00	%		1,994,776			23,077		1.55	%
	AFS debt securities		6,886,268			106,290			2.06	%		7,755,029			101,616		1.75	%
	HTM debt securities		2,672,797			33,645			1.68	%		—			—		—	%
	Loans (2)		44,548,520			1,376,978			4.13	%		39,441,751			1,057,964		3.59	%
	FHLB and FRB stock		77,824			2,274			3.91	%		80,107			1,588		2.65	%
	Total interest-earning assets		58,949,457			1,560,019			3.54	%		55,350,645			1,196,026		2.89	%
Noninterest-earning assets:
	Cash and due from banks		656,772									602,830
	Allowance for loan losses		(551,818)									(603,523)
	Other assets		3,307,207									2,913,050
	Total assets		$	62,361,618								$	58,263,002
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
	Checking deposits		$	6,747,711		$	13,073		0.26	%		$	6,571,231		$	11,177	0.23	%
	Money market deposits		12,526,222			45,196			0.48	%		12,262,173			11,869		0.13	%
	Savings deposits		2,954,098			5,836			0.26	%		2,715,114			5,762		0.28	%
	Time deposits		8,596,728			40,266			0.63	%		8,635,250			26,982		0.42	%
	Federal funds purchased and other short-term borrowings		93,370			1,427			2.04	%		1,871			42		3.00	%
	FHLB advances		128,137			1,529			1.60	%		457,273			6,025		1.76	%
	Repurchase agreements		433,340			8,855			2.73	%		304,745			5,981		2.62	%
	Long-term debt and finance lease liabilities		152,259			3,463			3.04	%		152,018			2,314		2.04	%
	Total interest-bearing liabilities		31,631,865			119,645			0.51	%		31,099,675			70,152		0.30	%
Noninterest-bearing liabilities and stockholders’ equity:
	Demand deposits		23,244,247									20,345,370
	Accrued expenses and other liabilities		1,719,869									1,335,252
	Stockholders’ equity		5,765,637									5,482,705
	Total liabilities and stockholders’ equity		$	62,361,618								$	58,263,002
Interest rate spread									3.03	%							2.59	%
Net interest income and net interest margin						$	1,440,374		3.27	%					$	1,125,874	2.72	%

All values are in US Dollars.

(1)Annualized.

(2)Includes loans HFS. Average balances of PPP loans were $252.8 million and $1.63 billion for the nine months ended September 30, 2022 and 2021, respectively.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED RATIOS
(unaudited)
Table 9
		Three Months Ended (1)							September 30, 2022<br><br>Basis Point Change
		September 30,<br>2022		June 30,<br>2022		September 30,<br>2021			Qtr-o-Qtr		Yr-o-Yr
	Return on average assets	1.86	%	1.66	%	1.46	%		20	bps	40	bps
	Return on average equity	20.30	%	18.23	%	15.75	%		207		455
	Tangible return on average tangible equity (2)	22.16	%	19.94	%	17.25	%		222		491
	Interest rate spread	3.26	%	3.07	%	2.58	%		19		68
	Net interest margin	3.68	%	3.23	%	2.70	%		45		98
	Average loan yield	4.75	%	3.95	%	3.61	%		80		114
	Yield on average interest-earning assets	4.19	%	3.42	%	2.83	%		77		136
	Average cost of interest-bearing deposits	0.86	%	0.30	%	0.21	%		56		65
	Average cost of deposits	0.51	%	0.17	%	0.12	%		34		39
	Average cost of funds	0.55	%	0.20	%	0.14	%		35		41
	Adjusted pre-tax, pre-provision profitability ratio (3)	2.72	%	2.38	%	1.95	%		34		77
	Adjusted noninterest expense/average assets (3)	1.23	%	1.17	%	1.08	%		6		15
	Efficiency ratio	34.43	%	35.70	%	43.81	%		(127)		(938)
	Adjusted efficiency ratio (3)	31.18	%	32.90	%	35.55	%		(172)	bps	(437)	bps
		Nine Months Ended (1)				September 30, 2022<br>Basis Point Change
		September 30, 2022		September 30, 2021		Yr-o-Yr
	Return on average assets	1.70	%	1.50	%	20		bps
	Return on average equity	18.35	%	15.98	%	237
	Tangible return on average tangible equity (2)	20.04	%	17.56	%	248
	Interest rate spread	3.03	%	2.59	%	44
	Net interest margin	3.27	%	2.72	%	55
	Average loan yield	4.13	%	3.59	%	54
	Yield on average interest-earning assets	3.54	%	2.89	%	65
	Average cost of interest-bearing deposits	0.45	%	0.25	%	20
	Average cost of deposits	0.26	%	0.15	%	11
	Average cost of funds	0.29	%	0.18	%	11
	Adjusted pre-tax, pre-provision profitability ratio (3)	2.41	%	1.94	%	47
	Adjusted noninterest expense/average assets (3)	1.18	%	1.13	%	5
	Efficiency ratio	35.98	%	43.72	%	(774)
	Adjusted efficiency ratio (3)	32.98	%	36.80	%	(382)		bps

(1)Annualized except for efficiency ratio.

(2)See reconciliation of GAAP to non-GAAP financial measures in Table 13.

(3)See reconciliation of GAAP to non-GAAP financial measures in Table 12.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE SHEET CREDIT EXPOSURES
( in thousands)
(unaudited)
Table 10
	Three Months Ended September 30, 2022
	Commercial		Consumer
	C&I		Total CRE		Total Residential Mortgage		Other Consumer		Total
Allowance for loan losses, June 30, 2022	$	363,282	$	173,479	$	25,060	$	1,449	$	563,270
Provision for credit losses on loans	9,575		11,163		6,281		255		27,274
Gross charge-offs	(6,894)		(6,226)		(775)		(10)		(13,905)
Gross recoveries	7,172		71		21		—		7,264
Total net recoveries (charge-offs)	278		(6,155)		(754)		(10)		(6,641)
Foreign currency translation adjustment	(1,386)		—		—		—		(1,386)
Allowance for loan losses, September 30, 2022	$	371,749	$	178,487	$	30,587	$	1,694	$	582,517

All values are in US Dollars.

		Three Months Ended June 30, 2022
		Commercial		Consumer
		C&I		Total CRE		Total Residential Mortgage		Other Consumer		Total
Allowance for loan losses, March 31, 2022		$	339,446	$	182,296	$	21,958	$	1,985	$	545,685
Provision for (reversal of) credit losses on loans	(a)	19,030		(9,181)		3,122		(502)		12,469
Gross charge-offs		(240)		(679)		(193)		(34)		(1,146)
Gross recoveries		6,514		1,043		173		—		7,730
Total net recoveries (charge-offs)		6,274		364		(20)		(34)		6,584
Foreign currency translation adjustment		(1,468)		—		—		—		(1,468)
Allowance for loan losses, June 30, 2022		$	363,282	$	173,479	$	25,060	$	1,449	$	563,270
		Three Months Ended September 30, 2021
---	---	---	---	---	---
		Commercial		Consumer
		C&I		Total CRE		Total Residential Mortgage		Other Consumer		Total
Allowance for loan losses, June 30, 2021		$	362,528	$	199,530	$	19,468	$	4,198	$	585,724
(Reversal of) provision for credit losses on loans	(a)	(23,364)		8,527		2,972		130		(11,735)
Gross charge-offs		(1,154)		(16,903)		(912)		(10)		(18,979)
Gross recoveries		4,203		1,106		156		—		5,465
Total net recoveries (charge-offs)		3,049		(15,797)		(756)		(10)		(13,514)
Foreign currency translation adjustment		(71)		—		—		—		(71)
Allowance for loan losses, September 30, 2021		$	342,142	$	192,260	$	21,684	$	4,318	$	560,404
EAST WEST BANCORP, INC. AND SUBSIDIARIES
---	---	---	---	---
ALLOWANCE FOR LOAN LOSSES & OFF-BALANCE-SHEET CREDIT EXPOSURES
( in thousands)
(unaudited)
Table 10 (continued)
	Nine Months Ended September 30, 2022
	Commercial		Consumer
	C&I		Total CRE		Total Residential Mortgage		Other Consumer		Total
Allowance for loan losses, December 31, 2021	$	338,252	$	180,808	$	20,595	$	1,924	$	541,579
Provision for (reversal of) credit losses on loans	37,867		3,640		10,628		(140)		51,995
Gross charge-offs	(18,322)		(7,304)		(968)		(90)		(26,684)
Gross recoveries	16,688		1,343		332		—		18,363
Total net charge-offs	(1,634)		(5,961)		(636)		(90)		(8,321)
Foreign currency translation adjustment	(2,736)		—		—		—		(2,736)
Allowance for loan losses, September 30, 2022	$	371,749	$	178,487	$	30,587	$	1,694	$	582,517

All values are in US Dollars.

		Nine Months Ended September 30, 2021
		Commercial		Consumer
		C&I		Total CRE		Total Residential Mortgage		Other Consumer		Total
Allowance for loan losses, December 31, 2020		$	398,040	$	201,603	$	18,210	$	2,130	$	619,983
(Reversal of) provision for credit losses on loans	(a)	(42,127)		16,198		4,229		2,226		(19,474)
Gross charge-offs		(20,162)		(28,642)		(1,091)		(43)		(49,938)
Gross recoveries		6,301		3,101		336		5		9,743
Total net charge-offs		(13,861)		(25,541)		(755)		(38)		(40,195)
Foreign currency translation adjustment		90		—		—		—		90
Allowance for loan losses, September 30, 2021		$	342,142	$	192,260	$	21,684	$	4,318	$	560,404
		Three Months Ended						Nine Months Ended
---	---	---	---	---	---	---	---	---	---	---	---
		September 30,<br>2022		June 30,<br>2022		September 30,<br>2021		September 30,<br>2022		September 30,<br>2021
Unfunded Credit Facilities
Allowance for unfunded credit commitments, beginning of period (1)		$	24,304	$	23,262	$	26,300	$	27,514	$	33,577
(Reversal of) provision for credit losses on unfunded credit commitments	(b)	(274)		1,031		1,735		(3,495)		(5,526)
Foreign currency translation adjustment		11		11		1		22		(15)
Allowance for unfunded credit commitments, end of period (1)		$	24,041	$	24,304	$	28,036	$	24,041	$	28,036
Provision for (reversal of) credit losses	(a)+(b)	$	27,000	$	13,500	$	(10,000)	$	48,500	$	(25,000)

(1)Included in Accrued expenses and other liabilities on the Condensed Consolidated Balance Sheet.

	EAST WEST BANCORP, INC. AND SUBSIDIARIES
	CRITICIZED LOANS, NONPERFORMING ASSETS AND CREDIT QUALITY RATIOS
	( in thousands)
	(unaudited)
Table 11
Criticized Loans				June 30, 2022			September 30, 2021
Special mention loans		470,964		$	590,227		$	448,497
Classified loans				432,414			561,787
Total criticized loans (1)		905,206		$	1,022,641		$	1,010,284
Nonperforming Assets				June 30, 2022			September 30, 2021
Nonaccrual loans:
Commercial:
	C&I	47,988		$	40,053		$	97,157
	Total CRE			12,742			15,359
Consumer:
	Total residential mortgage			37,129			18,153
	Other consumer			11			2,491
	Total nonaccrual loans			89,935			133,160
Other real estate owned, net				—			28,800
Other nonperforming assets				—			10,681
Nonperforming loans HFS				—			—
	Total nonperforming assets	97,043		$	89,935		$	172,641
Credit Quality Ratios				June 30, 2022			September 30, 2021
Annualized quarterly net charge-offs (recoveries) to average loans HFI			%	(0.06)		%	0.13		%
Special mention loans to loans HFI			%	1.27		%	1.11		%
Classified loans to loans HFI			%	0.93		%	1.39		%
Criticized loans to loans HFI			%	2.20		%	2.50		%
Nonperforming assets to total assets			%	0.14		%	0.28		%
Nonaccrual loans to loans HFI			%	0.19		%	0.33		%
Allowance for loan losses to loans HFI			%	1.21		%	1.38		%

All values are in US Dollars.

(1)Excludes loans HFS.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
( in thousands)
(unaudited)
Table 12
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Adjusted efficiency ratio represents adjusted noninterest expense divided by revenue. Adjusted pre-tax, pre-provision profitability ratio represents total revenue less adjusted noninterest expense, divided by average total assets. Adjusted noninterest expense excludes the amortization of tax credit and other investments and the amortization of core deposit intangibles. Management believes that the measures and ratios presented below provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods.
	Three Months Ended
	September 30, 2022			June 30, 2022			September 30, 2021
Net interest income before provision for (reversal of) credit losses	$	551,809		$	472,952		$	395,706
Total noninterest income	75,552			78,444			73,109
Total revenue	$	627,361		$	551,396		$	468,815
Total noninterest expense	$	215,973		$	196,860		$	205,384
Less: Amortization of tax credit and other investments	(19,874)			(14,979)			(38,008)
Amortization of core deposit intangibles	(485)			(488)			(705)
Adjusted noninterest expense	$	195,614		$	181,393		$	166,671
Efficiency ratio	34.43		%	35.70		%	43.81		%
Adjusted efficiency ratio	31.18		%	32.90		%	35.55		%
Adjusted pre-tax, pre-provision income	$	431,747		$	370,003		$	302,144
Average total assets	$	63,079,444		$	62,232,841		$	61,359,533
Adjusted pre-tax, pre-provision profitability ratio (1)	2.72		%	2.38		%	1.95		%
Adjusted noninterest expense/average assets (1)	1.23		%	1.17		%	1.08		%
	Nine Months Ended
	September 30, 2022			September 30, 2021
Net interest income before provision for (reversal of) credit losses	$	1,440,374		$	1,125,874
Total noninterest income	233,739			214,406
Total revenue	$	1,674,113		$	1,340,280
Total noninterest expense	$	602,283		$	585,984
Less: Amortization of tax credit and other investments	(48,753)			(90,657)
Amortization of core deposit intangibles	(1,484)			(2,147)
Adjusted noninterest expense	$	552,046		$	493,180
Efficiency ratio	35.98		%	43.72		%
Adjusted efficiency ratio	32.98		%	36.80		%
Adjusted pre-tax, pre-provision income	$	1,122,067		$	847,100
Average total assets	$	62,361,618		$	58,263,002
Adjusted pre-tax, pre-provision profitability ratio (1)	2.41		%	1.94		%
Adjusted noninterest expense/average assets (1)	1.18		%	1.13		%

All values are in US Dollars.

(1)Annualized.

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
( in thousands)
(unaudited)
Table 13
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible equity and tangible equity to tangible assets ratio are non-GAAP financial measures. Tangible equity and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion.
	September 30, 2022			June 30, 2022			September 30, 2021
Stockholders’ equity	$	5,660,668		$	5,609,482		$	5,690,201
Less: Goodwill	(465,697)			(465,697)			(465,697)
Other intangible assets (1)	(8,667)			(8,537)			(9,849)
Tangible equity	$	5,186,304		$	5,135,248		$	5,214,655
Total assets	$	62,576,061		$	62,394,283		$	60,959,110
Less: Goodwill	(465,697)			(465,697)			(465,697)
Other intangible assets (1)	(8,667)			(8,537)			(9,849)
Tangible assets	$	62,101,697		$	61,920,049		$	60,483,564
Total stockholders’ equity to total assets ratio	9.05		%	8.99		%	9.33		%
Tangible equity to tangible assets ratio	8.35		%	8.29		%	8.62		%

All values are in US Dollars.

Tangible return on average tangible equity represents tangible net income divided by average tangible equity. Tangible net income excludes the after-tax impacts of the amortization of core deposit intangibles and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion.
		Three Months Ended									Nine Months Ended
		September 30,<br>2022			June 30,<br>2022			September 30,<br>2021			September 30,<br>2022			September 30,<br>2021
Net income	(e)	$	295,339		$	258,329		$	225,449		$	791,320		$	655,185
Add: Amortization of core deposit intangibles		485			488			705			1,484			2,147
Amortization of mortgage servicing assets		340			364			430			1,096			1,264
Tax effect of amortization adjustments (2)		(237)			(245)			(322)			(742)			(968)
Tangible net income	(f)	$	295,927		$	258,936		$	226,262		$	793,158		$	657,628
Average stockholders’ equity	(g)	$	5,772,638		$	5,682,427		$	5,680,306		$	5,765,637		$	5,482,705
Less: Average goodwill		(465,697)			(465,697)			(465,697)			(465,697)			(465,697)
Average other intangible assets (1)		(8,379)			(8,827)			(10,135)			(8,801)			(10,847)
Average tangible equity	(h)	$	5,298,562		$	5,207,903		$	5,204,474		$	5,291,139		$	5,006,161
Return on average equity (3)	(e)/(g)	20.30		%	18.23		%	15.75		%	18.35		%	15.98		%
Tangible return on average tangible equity (3)	(f)/(h)	22.16		%	19.94		%	17.25		%	20.04		%	17.56		%

(1)Includes core deposit intangibles and mortgage servicing assets.

(2)Applied statutory tax rate of 28.77% for the three and nine months ended September 30, 2022, and the three months ended June 30, 2022. Applied statutory tax rate of 28.37% for the three and nine months ended September 30, 2021.

(3)Annualized.

20

ewbc3q22earningspresenta

EWBC Earnings Results Third Quarter 2022 October 20, 2022

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Forward-Looking Statements 2 Forward-Looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of East West Bancorp, Inc. (the “Company”) and are subject to significant risks and uncertainties. You should not place undue reliance on these statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include, among others, changes in the U.S. economy or local, regional and global business, economic and political conditions and geopolitical events; the impacts of the ongoing COVID-19 pandemic; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws; and changes in the commercial and consumer real estate markets and in consumer spending and savings habits. These factors also consist of those contained in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. These statements speak only as of the date they are made and are based only on information then actually known to the Company. The Company does not undertake to update any forward-looking statements except as required by law. Non-GAAP Financial Measures Certain financial information in this presentation has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and is presented on a non-GAAP basis. Investors should refer to the reconciliations included in this presentation and should consider the Company’s non-GAAP financial measures in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. These measures may not be comparable to similarly titled measures used by other companies.

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Highlights of Third Quarter 2022 3 Net Income $295 million Diluted EPS $2.08 Record Average Loans $46.9 billion Average Deposits $54.1 billion Average Demand Deposits $22.4 billion Record Net Interest Income $552 million Total Revenue $627 million Adj. Efficiency Ratio* 31.2% Return on Average Assets Adjusted Pre-Tax, Pre-Provision Income* & Profitability Ratio* Tangible Return on Average Tangible Equity* Return on Average Equity Adj. PTPP income* Adj. PTPP profitability ratio* $ i n m ill io n s * See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases. 1.46% 1.66% 1.86% 3Q21 2Q22 3Q22 15.7% 18.2% 20.3% 3Q21 2Q22 3Q22 17.2% 19.9% 22.2% 3Q21 2Q22 3Q22 $302 $370 $432 1.95% 2.38% 2.72% $100 $180 $260 $340 $420 3Q21 2Q22 3Q22

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4 09.30.22: Strong, Well-Diversified Balance Sheet Record Loans as of 09.30.22: $47.5 billion ($ in billions) C&I Resi. mortgage & other consumerTotal CRE IB Checking & SavingsMMDADDA Time Total Deposits as of 09.30.22: $53.9 billion ($ in billions) * See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases. $15.6 33% $18.7 39% $13.2 28% $21.6 40% $12.1 22% $9.8 19% $10.4 19% $ in millions, except per share data 09.30.22 06.30.22 Cash equivalents & ST investments $ 2,794 $ 2,615 $ 179 Repo assets 893 1,423 (530) AFS debt securities 5,906 6,256 (350) HTM debt securities 3,013 3,028 (15) Total Loans 47,457 46,531 926 Allowance for loan losses (ALLL) (583) (563) (20) Net Loans $ 46,874 $ 45,968 $ 906 Other assets 3,096 3,104 (8) Total Assets $ 62,576 $ 62,394 $ 182 Customer deposits $ 53,857 $ 54,343 $ (486) Fed Funds, FHLB advances & repo funding 1,137 787 350 Long-term debt & finance lease liab. 153 153 - Other liabilities 1,768 1,502 266 Total Liabilities $ 56,915 $ 56,785 $ 130 Total Stockholders' Equity $ 5,661 $ 5,609 $ 52 Book value per share $ 40.17 $ 39.81 $ 0.36 Tangible equity* per share $ 36.80 $ 36.44 $ 0.36 Tang. equity to tang. assets ratio* 8.35% 8.29% 6 bp Q-o-Q Change

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09.30.22: Strong Capital Ratios That Expanded Q-o-Q ▪ Book value per share of $40.17 as of 09.30.22: +1% Q-o-Q and +0.2% Y-o-Y. ▪ Tangible equity* per share of $36.80 as of 09.30.22: +1% Q-o-Q and +0.1% Y-o-Y. ▪ Tangible equity to tangible assets ratio* of 8.35% as of 09.30.22, +6 bps from 06.30.22. ▪ All regulatory capital ratios increased Q-o-Q. CET1 ratio of 12.3% as of 09.30.22. ▪ Dividend: 4Q22 quarterly common stock dividend of $0.40 per share, equivalent to $1.60 per share annualized. ▪ No buybacks during 3Q22. 5 **The Company has elected to use the 2020 CECL transition provision in the calculation of its September 30, 2021, June 30, 2022, and September 30, 2022 regulatory capital ratios. The Company’s September 30, 2022 regulatory capital ratios are preliminary. * See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases. 12.8% 12.8% 14.2% 8.8% 12.0% 12.0% 13.2% 9.3% 12.3% 12.3% 13.6% 9.6% CET1 capital ratio Tier 1 capital ratio Total capital ratio Leverage ratio EWBC 09.30.21 EWBC 06.30.22 EWBC 09.30.22**

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Total CRE 39% Total Resi. Mortgage & Other Consumer 28% C&I 33% 6 Total Loans: C&I Loans by Industry as % of Total Loans Outstanding 09.30.22: Diversified Commercial Loan Portfolio ▪ C&I loans: $15.6bn loans O/S plus $6.6bn undisbursed commitments: $22.2bn total commitments as of 09.30.22. ▪ Portfolio well-diversified by industry. ▪ Utilization: 70% as of 09.30.22, unchanged Q-o-Q. ▪ Growth: total commitments: +1% (+4% ann.) Q-o-Q & EOP loans HFI O/S: +2% (+6% ann.) Q-o-Q. ▪ China loans O/S (mainland + Hong Kong): $2.1bn as of 09.30.22, vs. $2.2bn as of 06.30.22. Portfolio primarily consists of C&I loans, well-diversified by industry. $15.6bn 4% 12% General Manufacturing & Wholesale Private Equity Entertainment Food-related Industries: 1%; Healthcare: 1%; Consumer Goods: 1%; Oil & Gas: 1%. Real Estate related Clean Energy Technology & Life Science All Other C&I $47.5 billion Total Loans } 4% 3% 2% 2% 2%

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SoCal 51% NorCal 21% TX 8% NY 5% WA 3% Other 12% C&I 33% MFR, 10% Retail, 8% Industrial, 7% Office, 6% Hotel, 4% All other CRE, 4% Total Resi. Mortgage & Other Consumer 28% Total CRE 39% 09.30.22: Diversified Commercial Real Estate Portfolio 7 Total Loans: Total CRE Loans by Property Type as % of Total Loans Outstanding ▪ Total CRE loans: $18.7bn loans O/S as of 09.30.22 ▪ Portfolio well-diversified by property type. ▪ Geographic distribution reflects EWBC’s branch footprint. ▪ Growth: +1% (+3% ann.) Q-o-Q. ▪ Construction & land loans (in All other CRE): $557mm, or 1.2% of total loans. Total construction & land exposure of $1.2bn: loans O/S plus $615mm in undisbursed commitments. $18.7 billion Total CRE Loans Total CRE: Distribution by Geography $18.7bn $47.5 billion Total Loans

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<=50% 42% >50% to 55% 16% >55% to 60% 16% >60% to 65% 17% >65% to 70% 6% >70% 3% Total CRE: Distribution by LTV 8 09.30.22: Low LTV Commercial Real Estate Portfolio CRE Size & LTV by Property Type 1Weighted avg. LTV based on commitment. * Construction & Land avg. size based on total commitment. ▪ High percentage of CRE loans have full recourse & personal guarantees from individuals or guarantors with substantial net worth. ▪ Many of our customers have long-term relationships with East West Bank. $2.7 million Avg. size of loan outstanding 51% Avg. LTV ($ in millions) Total Portfolio Size Weighted Avg. LTV1 Average Loan Size Multifamily 4,559$ 52% 1.6$ Retail 3,992$ 48% 2.3$ Industrial 3,475$ 49% 2.9$ Office 2,943$ 53% 3.9$ Hotel 2,099$ 54% 9.1$ Construction & Land* 557$ 58% 13.2$ Other 1,064$ 51% 3.4$ Total CRE 18,689$ 51% 2.7$

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<=50% 39% >50% to 55% 13% >55% to 60% 41% >60% 7% SoCal 40% NorCal 16% NY 27% WA 8% TX 2% Other 7% 09.30.22: Low LTV Residential Mortgage Portfolio 9 Resi. Mortgage: Distribution by Geography Resi. Mortgage: Distribution by LTV $13.0 billion Resi. Mortgage Loans Outstanding $434,000 Avg. loan size* 51% Avg. LTV* ▪ Residential mortgage (SFR + HELOC): $13.0bn loans O/S as of 09.30.22. ▪ Primarily originated through East West Bank branches. ▪ Origination volume: $1.5bn in 3Q22, down 14% Q-o-Q. ▪ Resi. loans O/S growth: +4% (+17% ann.) Q-o-Q. ▪ SFR: $10.9bn loans O/S as of 09.30.22. ▪ HELOC: $2.2bn loans O/S + $3.3bn in undisbursed commitments: $5.5bn total as of 09.30.22. ▪ HELOC utilization: 40% as of 09.30.22, vs. 44% as of 06.30.22. ▪ 83% of commitments in first lien position as of 09.30.22. * Combined LTV for 1st and 2nd liens; based on commitment. Avg. size based on loan O/S for SFR and commitment for HELOC.

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2.5% 2.6% 0.3% C&I CRE Resi. mortgage & consumer 09.30.22: Solid & Stable Asset Quality Metrics 10 Nonaccrual loans OREO & other NPAs Classified loans HFI Special Mention loans HFI Classified loans HFI Special Mention loans HFI Nonaccrual Ratio by Loans HFI Portfolio (subset of Classified) (as of 09.30.22) NPAs / Total Assets Criticized Ratio by Loans HFI Portfolio (as of 09.30.22) Criticized Loans / Loans HFI ▪ Criticized loans decreased Q-o-Q by $117 million, or 11%, to $905mm as of 09.30.22. Special mention loans decreased 20% Q-o-Q & classified loans were essentially unchanged. ▪ Criticized loans ratio improved 29 bps Q-o-Q to 1.91% of loans HFI as of 09.30.22, down from 2.20% of loans HFI as of 06.30.22. ▪ Special mention: $471mm (0.99% of loans HFI) as of 09.30.22, vs. 1.27% as of 06.30.22. ▪ Classified: $434mm (0.92% of loans HFI) as of 09.30.22, vs. 0.93% as of 06.30.22. ▪ Nonperforming assets: $97mm as of 09.30.22 (0.16% of assets), vs 0.14% as of 06.30.22. ▪ Accruing loans 30-89 days past due: $50mm as of 09.30.22 (0.10% of loans HFI), vs. $39mm (or 0.08%) as of 06.30.22 & $41mm (or 0.10%) as of 09.30.21. 1.4% 1.1% 1.0% 0.9% 0.9% 1.1% 0.9% 0.9% 1.3% 1.0% 2.5% 2.0% 1.9% 2.2% 1.9% 09.30.21 12.31.21 03.31.22 06.30.22 09.30.22 0.28% 0.17% 0.15% 0.14% 0.16% 09.30.21 12.31.21 03.31.22 06.30.22 09.30.22 0.3% 0.1% 0.2% C&I CRE Resi. mortgage & consumer

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$560 $542 $546 $563 $583 1.38% 1.30% 1.25% 1.21% 1.23% 0.50% $200 $700 09.30.21 12.31.21 03.31.22 06.30.22 09.30.22 ALLL ALLL/Loans HFI ▪ ALLL coverage of loans: 1.23% as of 09.30.22, vs. 1.21% as of 06.30.22. Build in ALLL coverage largely reflects current macroeconomic outlook & third quarter loan growth. ▪ Net charge-offs in 3Q22 of $7mm, or annualized 0.06% of avg. loans, vs. net recoveries ratio of 0.06% (ann.) in 2Q22. ▪ Provision for credit losses in 3Q22: $27mm, vs. $13.5mm in 2Q22. 3Q22: Allowance for Loan Losses & Credit Costs 11 Composition of ALLL by Portfolio: Allowance for Loan Losses Coverage Ratio $ i n m ill io n s Provision for Credit Losses & Net Charge-offs $ i n m ill io n s $ i n m ill io n s ; ra ti o i s a llo w a n c e c o v e ra g e b y p o rt fo lio ALLL by Loan Portfolio: C&I (ex. PPP) Total CRE Resi. mortgage & consumer Total: $563 Total:1.21%Total: $583 Total:1.23% HFI represents Held for Investment. $(10) $(10) $8 $13.5 $27 $13.5 $10 $8 $(7) $7 0.13% 0.10% 0.08% -0.06% 0.06% -0.09% $(25) 3Q21 4Q21 1Q22 2Q22 3Q22 Provision for credit losses Net charge-offs NCO ratio (ann.) 363 372 2.38% 2.40% 173 178 0.94% 0.95% 27 33 0.21% 0.25% 06.30.22 09.30.22 06.30.22 09.30.22

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3Q22: Summary Income Statement 12 * See slide 17 for noninterest income detail by category. Comments ▪ Record net interest income: $552mm, up 17% Q-o-Q (+66% LQA). ▪ Customer-driven fee income and GOS of SBA loans: $69mm, up 7% Q-o-Q (+26% LQA). ▪ Other investment income was $(0.6)mm in 3Q22, vs $4.9mm in 2Q22, reflecting equity valuation adjustments of CRA investments. ▪ Amortization of tax credit & other investments: $20mm in 3Q22, vs. $15mm in 2Q22: Q-o-Q variability reflects the impact of investments that close in a given period. Amortization of tax credit investments expected to be approx. $30mm in 4Q22. ▪ Tax expense: YTD effective tax rate was 23% for the 9-mos of 2022. ▪ The full-year 2022 effective tax rate is expected to be approximately 22%, including impact from tax credit investments expected in 4Q22. ** See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases. 3Q22 vs. 2Q22 $ in millions, except per share data & ratios 3Q22 2Q22 $ Change % Change Total net interest income $ 551.8 $ 473.0 $ 78.8 17% Fee income & net GOS of loans* 69.0 64.8 4.2 6.5% Other 6.6 13.6 (7.0) -51% Total noninterest income $ 75.6 $ 78.4 $ (2.8) -4% Total revenue $ 627.4 $ 551.4 $ 76.0 14% Adjusted noninterest expense** $ 195.6 $ 181.4 $ 14.2 8% Amortization of tax credit & other investments + core deposit intangibles 20.4 15.5 4.9 32% Total noninterest expense $ 216.0 $ 196.9 $ 19.1 10% Provision for credit losses $ 27.0 $ 13.5 $ 13.5 100% Income tax expense 89.0 82.7 6.3 8% Effective tax rate 23% 24% -1% Net Income (GAAP) $ 295.3 $ 258.3 $ 37.0 14% Diluted EPS $ 2.08 $ 1.81 $ 0.27 15% Weigh. avg. diluted shares (in mm) 142.0 142.4 (0.4) -0.3%

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23.2 24.0 23.4 23.9 22.4 12.6 12.9 12.9 12.3 12.4 9.4 9.3 9.6 9.7 9.9 8.3 8.1 8.1 8.2 9.4 $53.5 $54.3 $54.0 $54.1 $54.1 3Q21 4Q21 1Q22 2Q22 3Q22 13.5 13.6 14.3 15.0 15.3 15.4 15.7 16.4 17.6 18.6 11.1 11.2 11.4 12.0 13.0 $40.0 $40.5 $42.1 $44.6 $46.9 3Q21 4Q21 1Q22 2Q22 3Q22 3Q22: Average Balance Sheet: Growth & Mix 13 ▪ 3Q22 avg. loan growth: +20% LQA (+$2.2bn Q-o-Q). Growth in all major loan portfolios: residential mortgage (+$978mm), CRE (+$960mm), and C&I (+$296mm). ▪ Strong avg. loan growth drove favorable shift in AEA mix into higher yielding assets. Loans made up 79% of AEA in 3Q22 vs. 76% in 2Q22 and 69% in 3Q21. ▪ 3Q22 avg. deposit change: essentially flat (-$78mm Q-o-Q). Growth in CDs (+$1.2bn), IB checking & savings (+$158mm), MMDA (+$32mm); decrease in DDA (-$1.5bn). ▪ Avg. DDA made up 41% of avg. deposits in 3Q22, vs. 44% in 2Q22 and 43% in 3Q21. $ i n b ill io n s Average Loans & Q-o-Q Change +16% +24% +6% LQA avg. total loan growth C&I Total CRE Residential mortgage & other consumer Average Deposits & Q-o-Q Change Avg. Earning Asset (“AEA”) Mix & Loan-to-Deposit Ratio LQA avg. total deposit growthDDA MMDA IB Checking & Savings Time $ i n b ill io n s -1%-2% +1%+6% +20% 19% 21% 20% 19% 17% 12% 10% 8% 5% 4% L/D: 75% L/D: 75% L/D: 78% L/D: 82% L/D: 87% 3Q21 4Q21 1Q22 2Q22 3Q22 Loans / AEA Securities & other / AEA IB Cash & equivalent / AEA Avg. Loan / Deposit Ratio

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3Q22: Net Interest Income & Net Interest Margin 14 ▪ 3Q22 record net interest income: $552mm, +17% Q-o-Q (+66% LQA) from $473mm in 2Q22. ▪ 3Q22 NIM expansion: 3.68%, +45 bps Q-o-Q. ▪ Q-o-Q increase in NIM: higher loan (+63 bps) and other earning asset yields (+8 bps), combined with favorable average earning asset mix shift (+7 bps), partially offset by funding mix shift (-2 bps) & higher cost of IB funding (-31 bps). ▪ Changes in yields and rates reflected rising benchmark interest rates during the year, as well as asset sensitivity of variable-rate loan portfolio. Impact to NIM from Q-o-Q Change in Yields, Rates & Balance Sheet Mix $ i n m ill io n s 2Q22 NIM 3Q22 NIM Avg. earning asset mix shift +63 bps +8 bps 2Q22 NIM: 3.23% Net Interest Income & Net Interest Margin Higher loan yields 3Q22 NIM: 3.68% +7 bps Higher other AEA yields -31 bps Higher IB funding cost $396 $406 $416 $473 $552 2.70% 2.73% 2.87% 3.23% 3.68% 0.25% 0.25% 0.29% 0.93% 2.35% 3Q21 4Q21 1Q22 2Q22 3Q22 NII NIM Avg. Fed Funds Rate -2 bps Funding mix shift

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3Q22: Loan Yields: Average & Spot 15 Loan Coupon Spot Rate (in bps) by Portfolio * C&I spot rate excludes PPP, credit cards, deposit overdraft & micro-finance. Avg. Loan Yield (in bps) Relative to LIBOR 12.31.21 03.31.22 Total fixed rate and hybrid in fixed period: 38%. Variable: LIBOR or SOFR rates Hybrid in fixed rate period Fixed rate Variable: Prime rate Variable: all other rates Loan Portfolio by Index Rate (09.30.22) 06.30.22 C&I: 86% variable rate. Total CRE: 64% variable rate, of which 43%** had customer-level interest rate derivative contracts in place. Customers’ debt service is protected and EWBC retains benefits of variable rate loans on its balance sheet. SFR: 45% hybrid in fixed-rate period & 40% fixed rate. HELOC: Prime- based, variable rate portfolio. Avg. Loan Yield: Avg. yield in 3Q22: 4.75%, comprising 4.65% in avg. coupon rate plus 0.10% in other yield adjustments. Coupon spot rate was 5.10% as of 09.30.22. 322 336 427 559 C&I* 327 342 411 507 Total CRE 407 403 404 416 SFR 411 422 520 668 HELOC 09.30.22 ** Derivative contract coverage by portfolio: 48% of variable-rate CRE & 35% of variable-rate MFR. 21% 17% 27% 30% 5% 361 359 363 395 475 0.09% 0.09% 0.22% 0.98% 2.46% 0 400 3Q21 4Q21 1Q22 2Q22 3Q22 Avg. loan yield (in bps) Avg. 1M LIBOR

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7/1/2021 10/1/2021 1/1/2022 4/1/2022 7/1/2022 12 10 10 17 51 21 18 17 30 86 0 50 100 150 200 250 300 350 3Q21 4Q21 1Q22 2Q22 3Q22 Avg. cost of total deposits (in bps) Avg. cost of IB deposits (in bps) Target Fed Funds Rate 3Q22 Average Deposits: $54.1 billion ($ in billions) 3Q22: Cost of Deposits: Average & Spot 16 Average Cost of Deposits (in bps) Relative to Target Fed Funds Rate Deposit Spot Rate (in bps) vs. Loan Coupon Spot Rate (in bps) & Cumulative Beta* DDA MMDA IB Checking & Savings Time Cumulative beta* as of 09.30.22 vs. Fed Funds target rate: 22% since 12.31.21. Cumulative beta* as of 09.30.22 vs. Fed Funds target rate: 36% since 12.31.21. Cumulative beta* as of 09.30.22 vs. Fed Funds target rate: 55% since 12.31.21. * Beta represents change in metric between 09.30.22 and 12.31.21, divided by change in target Fed Funds rate between 09.30.22 and 12.31.21. $22.4 41% $12.4 23% $9.9 19% $9.4 17% 12.31.21 03.31.22 06.30.22 09.30.22 344 355 419 510 Total Loan Coupon Spot Rate 16 20 55 124 IB Deposits Spot Rate 9 11 32 74 Total Deposits Spot Rate

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19 22 24 18 20 20 13 11 10 6 7 95 4 4 2 1 2 $63 $65 $69 3Q21 2Q22 3Q22 Gain on Loans IRC Revenue Wealth Management Fees Foreign Exchange Income Lending Fees Deposit Account Fees 3Q22: Noninterest Income Detail ▪ Total noninterest income: $76mm in 3Q22, compared with $78mm in 2Q22. ▪ Fee income and net gains on sales of loans: $69mm in 3Q22: up 7% Q-o-Q (+26% ann.) and up 10% Y-o-Y. ▪ Q-o-Q increases in wealth management fees, deposit account fees, gain on sale of SBA loans, interest rate contracts revenue, and lending fees. ▪ Q-o-Q decrease in foreign exchange income. 17 Interest Rate Contracts (“IRC”) and Other Derivative Income Detail ($ in millions) 3Q21 2Q22 3Q22 Revenue $ 4.7 $ 3.5 $ 4.0 MTM 2.5 6.3 4.8 Total $ 7.2 $ 9.8 $ 8.8 * Fee income excludes MTM adjustments related to IRC and other derivatives; net gains on sales of securities; other investment income and other income. Fee Income* & Net Gains on Sales of Loans $ i n m ill io n s

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$469 $551 $627 35.6% 32.9% 31.2% 3Q21 2Q22 3Q22 Total Revenue Adj. efficiency ratio* 3Q22: Operating Expense & Efficiency 18 Adjusted Noninterest Expense* $ i n m ill io n s Total Revenue & Adjusted Efficiency Ratio* ▪ 3Q22 noninterest expense: $216mm. ▪ 3Q22 adj. noninterest expense*: $196mm, +8% Q-o-Q, driven by higher compensation and employee benefits. ▪ Positive operating leverage: 3Q22 total revenue growth (+14% Q-o-Q) exceeded expense growth. ▪ Improving efficiency: adj. efficiency ratio* was 31% in 3Q22, vs. 33% in 2Q22. ▪ Consistently achieving industry-leading operating efficiency. * See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases. 106 113 128 16 15 16 12 10 11 9 11 12 24 32 29 $167 $181 $196 3Q21 2Q22 3Q22 All other Deposit related expenses Computer software & Data processing Occupancy & Equipment Comp and employee benefits

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Management Outlook: Full Year 2022 19 Earnings drivers FY 2022 expectations compared with FY 2021 results Prior outlook 2021 actual End of Period Loans (ex. PPP)* ▪ Increase at a percentage rate of approximately 16% to 18% Y-o-Y. ▪ Unchanged. $41.2 billion (ex. PPP) +12% Y-o-Y (ex. PPP) Net Interest Income (ex. PPP)* ▪ Increase at a percentage rate of approximately 35% Y-o-Y. ▪ Increase at a percentage rate of approximately 30% to 35% Y-o-Y. $1.5 billion (ex. PPP) +10.5% Y-o-Y Adj. Noninterest Expense** (ex. tax credit investment & core deposit intangible amortization) ▪ Increase at a percentage rate of approximately 11% Y-o-Y. ▪ Increase at a percentage rate of approximately 9% to 10% Y-o-Y. $671 million +6% Y-o-Y Credit Items ▪ Provision for credit losses of approximately $80 million. ▪ Provision for credit losses in the range of $60 million to $70 million. $(35) million in 2021 & $211 million in 2020 Tax Items ▪ Full-year 2022 effective tax rate of approximately 22%, including the impact of tax credit investments. ▪ 4Q22 amortization of tax credit investments expected to be approx. $30mm & effective tax rate to be approx. 20%. ▪ Full-year 2022 effective tax rate of approximately 21%, including the impact of tax credit investments. FY effective tax rate: 17% Interest Rates ▪ Fed Funds rate of 4.50% by 12.31.22, up from 3.25% as of 09.30.22, and 0.25% as of 12.31.21. ▪ Forward interest rate curve as of 09.30.22. ▪ Fed Funds rate of 3.50% by 12.31.22. No change to Fed Funds rate in 2021 * PPP loans were $110.9 million as of 09.30.22, and $534.2 million as of 12.31.21. Income related to PPP loans was $7.0 million YTD 2022, and $55.2 million in FY2021. ** See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company’s Earnings Press Releases.

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APPENDIX

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Appendix: GAAP to Non-GAAP Reconciliation 21 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Adjusted efficiency ratio represents adjusted noninterest expense divided by revenue. Adjusted pre-tax, pre-provision profitability ratio represents total revenue less adjusted noninterest expense, divided by average total assets. Adjusted noninterest expense excludes the amortization of tax credit and other investments and the amortization of core deposit intangibles. Management believes that the measures and ratios presented below provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods. (1) Annualized Three Months Ended September 30, 2022 June 30, 2022 September 30, 2021 Net interest income before provision for (reversal of) credit losses $ 551,809 $ 472,952 $ 395,706 Total noninterest income 75,552 78,444 73,109 Total revenue (a) $ 627,361 $ 551,396 $ 468,815 Total noninterest expense (b) $ 215,973 $ 196,860 $ 205,384 Less: Amortization of tax credit and other investments (19,874) (14,979) (38,008) Amortization of core deposit intangibles (485) (488) (705) Adjusted noninterest expense (c) $ 195,614 $ 181,393 $ 166,671 Efficiency ratio (b)/(a) 34.43% 35.70% 43.81% Adjusted efficiency ratio (c)/(a) 31.18% 32.90% 35.55% Adjusted pre-tax, pre-provision income (a)-(c) = (d) $ 431,747 $ 370,003 $ 302,144 Average total assets (e) $ 63,079,444 $ 62,232,841 $ 61,359,533 Adjusted pre-tax, pre-provision profitability ratio (1) (d)/(e) 2.72% 2.38% 1.95% Adjusted noninterest expense/average assets (1) (c)/(e) 1.23% 1.17% 1.08%

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Appendix: GAAP to Non-GAAP Reconciliation 22 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible equity and tangible equity to tangible assets ratio are non-GAAP financial measures. Tangible equity and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion. (1) Includes core deposit intangibles and mortgage servicing assets. September 30, 2022 June 30, 2022 September 30, 2021 Stockholders’ equity (a) $ 5,660,668 $ 5,609,482 $ 5,690,201 Less: Goodwill (465,697) (465,697) (465,697) Other intangible assets (1) (8,667) (8,537) (9,849) Tangible equity (b) $ 5,186,304 $ 5,135,248 $ 5,214,655 Total assets (c) $ 62,576,061 $ 62,394,283 $ 60,959,110 Less: Goodwill (465,697) (465,697) (465,697) Other intangible assets (1) (8,667) (8,537) (9,849) Tangible assets (d) $ 62,101,697 $ 61,920,049 $ 60,483,564 Total stockholders’ equity to total assets ratio (a)/(c) 9.05% 8.99% 9.33% Tangible equity to tangible assets ratio (b)/(d) 8.35% 8.29% 8.62%

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Appendix: GAAP to Non-GAAP Reconciliation 23 EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Tangible return on average tangible equity represents tangible net income divided by average tangible equity. Tangible net income excludes the after-tax impacts of the amortization of core deposit intangibles and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion. (1) Includes core deposit intangibles and mortgage servicing assets. (2) Applied statutory tax rate of 28.77% for the three and nine months ended September 30, 2022, and the three months ended June 30, 2022. Applied statutory tax rate of 28.37% for the three and nine months ended September 30, 2021. (3) Annualized. Three Months Ended Nine Months Ended September 30, 2022 June 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net income (e) $ 295,339 $ 258,329 $ 225,449 $ 791,320 $ 655,185 Add: Amortization of core deposit intangibles 485 488 705 1,484 2,147 Amortization of mortgage servicing assets 340 364 430 1,096 1,264 Tax effect of amortization adjustments (2) (237) (245) (322) (742) (968) Tangible net income (f) $ 295,927 $ 258,936 $ 226,262 $ 793,158 $ 657,628 Average stockholders’ equity (g) $ 5,772,638 $ 5,682,427 $ 5,680,306 $ 5,765,637 $ 5,482,705 Less: Average goodwill (465,697) (465,697) (465,697) (465,697) (465,697) Average other intangible assets (1) (8,379) (8,827) (10,135) (8,801) (10,847) Average tangible equity (h) $ 5,298,562 $ 5,207,903 $ 5,204,474 $ 5,291,139 $ 5,006,161 Return on average equity (3) (e)/(g) 20.30% 18.23% 15.75% 18.35% 15.98% Tangible return on average tangible equity (3) (f)/(h) 22.16% 19.94% 17.25% 20.04% 17.56%

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