East West Bancorp Reports Net Income for First Quarter of 2025 of $290 Million and Diluted Earnings Per Share of $2.08; Record Quarterly Revenue, Fee Income, and Loans

East West Bancorp, Inc. ("East West" or the "Company") (NASDAQ:EWBC), parent company of East West Bank, reported its financial results for the first quarter of 2025. First quarter 2025 net income was $290 million, or $2.08 per diluted share. Returns on average assets were 1.56%, returns on average common equity were 15.0%, and returns on average tangible common equity¹ were 15.9%. Book value per share grew 3% quarter-over-quarter and 14% year-over-year.

"East West reported record loans, revenue, and fee income in the first quarter, generating a nearly 16% return on average tangible common equity¹," said Dominic Ng, Chairman and Chief Executive Officer. "Net interest margin expanded 11 basis points quarter-over-quarter driven by our focus on deposit cost optimization, resulting in over $600 million of net interest income this quarter. This performance was complemented by 8% quarter-over-quarter growth in fee income, driven by strong customer activity across the board," said Ng.

"Credit performance strengthened in the first quarter, with net charge-offs of $15 million or 12 basis points of total loans and both nonaccrual loans and nonperforming assets decreasing. Nonetheless, we bolstered our allowance for loan losses to a prudent level of 1.35% of loans," continued Ng.

"East West continues to operate from a position of strength. Our diversified balance sheet, strong capital levels, and industry-leading profitability position us to support our customers in any economic environment. These core business strengths provide us with the flexibility to capitalize on opportunities," concluded Ng.

FINANCIAL HIGHLIGHTS

Earnings Press Release and Financial Tables

East West's first quarter 2025 earnings press release with accompanying financial tables can be accessed at www.eastwestbank.com/investors.

Conference Call

East West will host a conference call to discuss first quarter 2025 earnings with the public on Tuesday, April 22, 2025, at 2:00 p.m. PT/5:00 p.m. ET. The public and investment community are invited to listen as management discusses first quarter 2025 results and operating developments.

• The following dial-in information is provided for participation in the conference call: calls within the U.S. or Canada – (877) 506-6399; international calls – (412) 902-6699.
• A presentation to accompany the earnings call, a listen-only live broadcast of the call, and information to access a replay one hour after the call will all be available on the Investor Relations page of the Company's website at www.eastwestbank.com/investors.

About East West

East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: "EWBC") with total assets of $76.2 billion as of March 31, 2025. The Company's wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 110 locations in the United States and Asia. The Bank's markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit 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. East West Bancorp, Inc. (referred to herein on an unconsolidated basis as "East West" and on a consolidated basis as the "Company," "we," "us," "our" or "EWBC") may make forward-looking statements in other documents that it files with, or furnishes to, the United States ("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 assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond the Company's control. Forward-looking statements may relate to various matters, including the Company's financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, 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 or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to known and unknown risks and uncertainties.

Factors that might cause future results to differ materially from historical performance and any forward-looking statements include, but are not limited to: changes in local, regional and global business, economic and political conditions and natural or geopolitical events; the soundness of other financial institutions and the impacts related to or resulting from bank failures and other industry volatility, including potential increased regulatory requirements, FDIC insurance premiums and assessments, and deposit withdrawals; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws and current or potential disputes between the U.S. and the People's Republic of China; changes in the commercial and consumer real estate markets; changes in consumer or commercial spending, savings and borrowing habits, and patterns and behaviors; the Company's ability to compete effectively against financial institutions and other entities, including as a result of emerging technologies; the success and timing of the Company's business strategies; the Company's ability to retain key officers and employees; changes in key variable market interest rates, competition, regulatory requirements and product mix; changes in the Company's costs of operation, compliance and expansion; 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 the disclosure or misuse of confidential information; the adequacy of the Company's risk management framework; future credit quality and performance, including expectations regarding future credit losses and allowance levels; adverse changes to the Company's credit ratings; legal proceedings, regulatory investigations and their resolution; 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 strategic acquisitions or divestitures and the introduction of new or expanded products and services or other events that may directly or indirectly result in a negative impact on the financial performance of the Company and its customers.

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, 2024 filed with the SEC on February 28, 2025 under the heading Item 1A. Risk Factors. You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to the Company. 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.

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