<SEC-DOCUMENT>0001069157-24-000136.txt : 20241213
<SEC-HEADER>0001069157-24-000136.hdr.sgml : 20241213
<ACCEPTANCE-DATETIME>20241213160519
ACCESSION NUMBER:		0001069157-24-000136
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Landsea Homes Corp
		CENTRAL INDEX KEY:			0001721386
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				822196021
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90536
		FILM NUMBER:		241548352

	BUSINESS ADDRESS:	
		STREET 1:		1717 MCKINNEY AVENUE
		STREET 2:		SUITE 1000
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75202
		BUSINESS PHONE:		(949) 345-8080

	MAIL ADDRESS:	
		STREET 1:		1717 MCKINNEY AVENUE
		STREET 2:		SUITE 1000
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LF Capital Acquisition Corp.
		DATE OF NAME CHANGE:	20171101

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EAST WEST BANCORP INC
		CENTRAL INDEX KEY:			0001069157
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				954703316
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		135 N. LOS ROBLES AVE. 7TH FLOOR
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		6267686000

	MAIL ADDRESS:	
		STREET 1:		EAST WEST BANCORP INC
		STREET 2:		135 N. LOS ROBLES AVE. 7TH FLOOR
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
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  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001069157</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/26/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001721386</issuerCik>
        <issuerName>Landsea Homes Corporation</issuerName>
        <issuerCusip>51509P103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1717 McKinney Avenue, Suite 1000</com:street1>
          <com:city>Dallas</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>75202</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>East West Bancorp, Inc.</reportingPersonName>
      <memberGroup>a</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>3225578.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>3225578.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>3225578.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.9</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>East West Bank</reportingPersonName>
      <memberGroup>a</memberGroup>
      <citizenshipOrOrganization>CA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>3225578.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>3225578.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>3225578.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.9</classPercent>
      <typeOfReportingPerson>BK</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Landsea Homes Corporation</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1717 McKinney Avenue, Suite 1000, Dallas, TX, 75202</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>East West Bancorp, Inc., on behalf of itself and its wholly owned banking subsidiary, East West Bank</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>135 N. Los Robles Ave., 7th Fl, Pasadena, CA 91101</principalBusinessOfficeOrResidenceAddress>
        <citizenship>East West Bancorp, Inc. is a Delaware corporation.
East West Bank is a California state banking corporation.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>BK</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>3,225,578 shares of Common Stock</amountBeneficiallyOwned>
        <classPercent>8.89</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>3,225,578 shares of Common Stock</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>3,225,578 shares of Common Stock</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Amended and Restated Agreement Regarding Consensual Resolution of Credit Facility

Landsea Holdings Corporation ("Landsea Holdings"), as the borrower, and East West Bank, as the lender, entered into that certain Business Loan Agreement dated June 7, 2022 (the "Original Loan Agreement"), pursuant to which East West Bank extended a loan up to $5,000,000 (the "Original Loan") to Landsea Holdings with 2,025,000 shares of Common Stock pledged to East West Bank as the collateral to secure Landsea Holdings' obligations under the Original Loan pursuant to the Commercial Pledge Agreement dated June 7, 2022 between Landsea Holdings and East West Bank. On June 29, 2023, Landsea Holdings and East West Bank entered into that certain Change in Terms Agreement ("Change in Terms Agreement") to amend the Original Loan Agreement by increasing the credit facility to $9,139,137.59 (the "New Loan"), and Landsea Holdings agreed to pledge additional 1,200,578 shares of Common Stock, as a result of which a total of 3,225,578 shares of the Issuer's Common Stock (the "Pledged Stock") held by Landsea Holdings would be pledged to secure the New Loan on the terms and conditions of the Commercial Pledge Agreement dated June 29, 2023 between Landsea Holdings and East West Bank (collectively with the Original Loan Agreement as amended by the Change in Terms Agreement, and all other documents executed in connection therewith, the "Loan Documents"). The New Loan closed on July 12, 2023. Landsea Holdings therefore executed and delivered on July 12, 2023 an irrevocable transfer power to pledge additional 1,200,578 shares of the Issuer's Common Stock in addition to the 2,025,000 shares of the Issuer's Common Stock which were already pledged to East West Bank to secure the Original Loan, as reported in Landsea Holdings' Amendment No. 3 and Amendment No. 6 to Schedule 13D as filed.

Due to certain events of default, East West Bank has elected to take ownership of the Pledged Stock in a strict foreclosure action pursuant to Article 9 of the UCC and in full satisfaction of the obligations of Landsea Holdings under the Loan Documents. In order to resolve the events of default amicably and expeditiously, East West Bank and Landsea Holdings entered into that certain Agreement Regarding Consensual Resolution of Credit Facility dated September 22, 2024 (the "Original Resolution Agreement"), pursuant to which after East West Bank took the ownership of the Pledged Stock to satisfy Landsea Holdings' obligations under the Loan Documents, any balance of the proceeds from the sale of the Pledged Stock after fully satisfying the outstanding loan including imputed interest through such sale date and applicable taxes shall be paid to Landsea Holdings.

On September 26, 2024, the transfer of the Pledged Stock to East West Bank was completed. On September 26, 2024, East West Bank and Landsea Holdings entered into that certain Amended and Restated Agreement Regarding Consensual Resolution of Credit Facility, which amended the Original Resolution Agreement by deleting certain conditions and restrictions on the sale of the Pledged Stock by East West Bank. The Amended and Restated Agreement Regarding Consensual Resolution of Credit Facility is attached as Exhibit 16 to Landsea Holdings' Amendment No. 11 to its Schedule 13D and incorporated into this Item 6 by reference.

The percentage ownership is based upon 36,282,883 shares of Common Stock issued and outstanding as of September 20, 2024.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>This statement on Schedule 13G is being filed by East West Bancorp, Inc. on behalf of itself and its wholly owned subsidiary East West Bank.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>Not applicable.</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>N</notApplicableFlag>
        <groupDissolutionNotice>Not applicable.</groupDissolutionNotice>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>East West Bancorp, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>East West Bancorp, Inc.</signature>
        <title>Douglas Krause / Vice Chairman &amp; Chief Corporate Officer</title>
        <date>12/13/2024</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>East West Bank</reportingPersonName>
      <signatureDetails>
        <signature>East West Bank</signature>
        <title>Douglas Krause / Vice Chairman &amp; Chief Corporate Officer</title>
        <date>12/13/2024</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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