EX-99.1 2 ewbc9918k9302025.htm EX-99.1

| East West Bancorp, Inc.
135 N. Los Robles Ave., 7th Fl.
Pasadena, CA 91101
Tel. 626.768.6000

NEWS RELEASE |  |  |

EAST WEST BANCORP REPORTS RECORD QUARTERLY NET INCOME OF $368 MILLION AND DILUTED EARNINGS PER SHARE OF $2.65; RECORD FEES, LOANS, AND DEPOSITS
Pasadena, California – October 21, 2025 – East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported third quarter 2025 net income of $368 million, or $2.65 per diluted share. Return on average common equity was 17.4%, return on average tangible common equity 1 was 18.5%, return on average assets was 1.84%, while book value per share and tangible book value per share 1 both grew 5% quarter-over-quarter.
“I am proud to report East West’s record-breaking financial results for the third quarter,” said Dominic Ng, Chairman and Chief Executive Officer. “We earned record levels of revenue, net income, and earnings per share. Record net interest income was fueled by deposit-led growth, while higher fee income was driven by notable strength in wealth management, lending, and deposit account fees,” said Ng.
“Asset quality remained resilient. Nevertheless, given the uncertainty in the outlook for 2026, we further bolstered our allowance for loan losses,” continued Ng. “Our significant capital levels, ample liquidity, bolstered reserves, and strong earnings profile enable East West to operate from a position of strength, with the ability to capitalize on opportunities across market environments,” Ng concluded.
FINANCIAL HIGHLIGHTS

|  |  | Three Months Ended |  |  |  |  |  | Quarter-over-Quarter Change |
| ($ in millions, except per share data) |  | September 30, 2025 |  | June 30, 2025 |  |  |  |  |  |  |  |  |  | $ |  | % |
| Total Revenue |  | $778 |  | $703 |  |  |  |  |  |  |  |  |  | $75 |  | 11 | % |
| Net Income |  | 368 |  | 310 |  |  |  |  |  |  |  |  |  | 58 |  | 19 |  |
| Pre-tax, Pre-provision Income 2 |  | 503 |  | 449 |  |  |  |  |  |  |  |  |  | 54 |  | 12 |  |
| Diluted Earnings per Share |  | $2.65 |  | $2.24 |  |  |  |  |  |  |  |  |  | $0.41 |  | 19 |  |
| Book Value per Share |  | $62.39 |  | $59.51 |  |  |  |  |  |  |  |  |  | $2.88 |  | 5 |  |
| Tangible Book Value per Share 1 |  | $58.97 |  | $56.10 |  |  |  |  |  |  |  |  |  | $2.87 |  | 5 | % |
| Return on Average Assets |  | 1.84% |  | 1.62% |  |  |  |  |  |  |  |  |  | — |  | 22 bps |
| Return on Average Common Equity |  | 17.44% |  | 15.42% |  |  |  |  |  |  |  |  |  | — |  | 202 bps |
| Return on Average Tangible Common Equity 1 |  | 18.48% |  | 16.39% |  |  |  |  |  |  |  |  |  | — |  | 209 bps |
| Total Stockholders’ Equity to Assets Ratio |  | 10.77% |  | 10.49% |  |  |  |  |  |  |  |  |  | — |  | 28 bps |
| Tangible Common Equity Ratio 1 |  | 10.24% |  | 9.95% |  |  |  |  |  |  |  |  |  | — |  | 29 bps |
| Total Assets |  | $79,670 |  | $78,158 |  |  |  |  |  |  |  |  |  | $1,512 |  | 2 | % |

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 $79.7 billion as of September 30, 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.

1 Return on average tangible common equity, tangible book value per share, and tangible common equity ratio are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP measures in Table 16.
2 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 15.

1

BALANCE SHEET
•Assets – Total assets were $79.7 billion as of September 30, 2025, an increase of $1.5 billion, or 2%, from $78.2 billion as of June 30, 2025. Year-over-year, total assets grew $5.2 billion, or 7%, from $74.5 billion as of September 30, 2024.
Third quarter 2025 average interest-earning assets of $76.2 billion were up $2.3 billion, or 3%, from $73.9 billion in the second quarter, primarily reflecting a $1.2 billion increase in average interest-bearing cash and deposits with banks, a $0.9 billion increase in average total loans outstanding, and a $0.2 billion increase in average available-for-sale (“AFS”) debt securities.
•Loans – Total loans reached a record $55.8 billion as of September 30, 2025, an increase of $0.8 billion from $55.0 billion as of June 30, 2025. Year-over-year, total loans were up $2.5 billion, or 5%, from $53.3 billion as of September 30, 2024.
Third quarter 2025 average total loans grew by $0.9 billion, or 2%, to $55.2 billion, from $54.3 billion in the second quarter.
•Deposits – Total deposits reached a record $66.6 billion as of September 30, 2025, an increase of $1.6 billion from $65.0 billion as of June 30, 2025, primarily reflecting growth in time, noninterest-bearing demand, money market, and savings deposits. Noninterest-bearing deposits made up 24% of total deposits as of September 30, 2025. Year-over-year, total deposits increased $4.9 billion, or 8%, from $61.7 billion as of September 30, 2024.
Third quarter 2025 total average deposits of $66.2 billion increased $2.5 billion from the second quarter of 2025, primarily reflecting growth in average money market, time, and noninterest-bearing demand deposits.
•Capital – As of September 30, 2025, stockholders’ equity was $8.6 billion, up 5% quarter-over-quarter. The total stockholders’ equity to assets ratio was 10.77% as of September 30, 2025, compared with 10.49% as of June 30, 2025.
Book value per share was $62.39 as of September 30, 2025, up $2.88, or 5% quarter-over-quarter. As of September 30, 2025, tangible book value per share 3 was $58.97, up $2.87, or 5% quarter-over-quarter.
East West’s regulatory capital ratios are well in excess of requirements for well-capitalized institutions, and well above regional bank averages.
CAPITAL STRENGTH
The following table presents capital metrics as of September 30, 2025, June 30, 2025, and September 30, 2024.

EWBC Capital |  |
($ in millions) |  | September 30, 2025 (a) |  | June 30, 2025 |  | September 30, 2024 (b) |  |  |  |  |  |
Risk-Weighted Assets (“RWA”) (c) |  | $57,052 |  | $56,280 |  | $54,291 |  |  |  |  |  |
Risk-based capital ratios: |  |  |  |  |  |  |  |  |  |  |  |
Total capital ratio |  | 16.15% |  | 15.82% |  | 15.39% |  |  |  |  |  |
CET1 capital ratio |  | 14.83% |  | 14.51% |  | 14.08% |  |  |  |  |  |
Tier 1 capital ratio |  | 14.83% |  | 14.51% |  | 14.08% |  |  |  |  |  |
Leverage ratio |  | 10.66% |  | 10.60% |  | 10.40% |  |  |  |  |  |
Total stockholders’ equity to assets ratio |  | 10.77% |  | 10.49% |  | 10.29% |  |  |  |  |  |
Tangible common equity ratio (d) |  | 10.24% |  | 9.95% |  | 9.72% |  |  |  |  |  |

(a)The Company’s September 30, 2025 regulatory capital ratios and RWA are preliminary.
(b)The Company applied the 2020 Current Expected Credit Losses (“CECL”) transition provision in the September 30, 2024 regulatory capital ratio calculations. The CECL transition provision permitted certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the aggregate benefit was reduced by 25% in 2022, 50% in 2023 and 75% in 2024. The CECL transition was no longer in effect as of January 1, 2025.
(c)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.
(d)Tangible common equity ratio is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 16.

3 Tangible book value per share is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures in Table 16.

2

OPERATING RESULTS
Third Quarter Earnings – Third quarter 2025 revenue was a record $778 million, up $75 million, or 11% quarter-over-quarter, driven by record quarterly net interest income and noninterest income. Revenue in the third quarter included $32 million of discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans. Noninterest expense was $277 million in the third quarter, up $21 million quarter-over-quarter, or 8%, which included $27 million of additional compensation expense from a change in equity award recognition for retirement eligible employees.
Third quarter 2025 net income was a record $368 million or $2.65 per diluted share, both up 19% from the second quarter of 2025. Pre-tax, pre-provision income 4 totaled a record $503 million in the third quarter, up $54 million, or 12% quarter-over-quarter.
Third Quarter 2025 Compared to Second Quarter 2025
Net Interest Income and Net Interest Margin
Net interest income totaled a record $678 million in the third quarter, an increase of $60 million, or 10%, from $617 million.
•Net interest margin was 3.53%, up 18 basis points from the prior quarter. Excluding the benefit of $32 million in discount accretion and interest recoveries, net interest margin was 3.36%.
•The average loan yield was 6.61%, up 21 basis points from the prior quarter. The average interest-earning asset yield was 5.88%, up 13 basis points from the prior quarter.
•The average cost of funds was 2.58%, down 5 basis points from the prior quarter. The average cost of interest-bearing deposits was 3.26%, a 5 basis point decrease from the prior quarter.
Noninterest Income
Noninterest income totaled a record $101 million in the third quarter, an increase of $14 million, or 17% from $86 million in the second quarter. Record f ee incom e 5 of $92 million increased $11 million, or 14%, from $81 million in the prior quarter, with growth in all fee categories.
•Wealth management fees increased $4 million quarter-over-quarter, reflecting higher customer activity.
•Other income increased $3 million quarter-over-quarter, primarily due to the realization of a bank-owned life insurance-related event.
•Customer derivative income increased $3 million in the third quarter, reflecting higher customer activity.
•Lending and loan servicing fees were up $2 million in the third quarter, reflecting higher customer activity and greater syndication fees.
•Commercial and consumer deposit-related fees grew $2 million quarter-over-quarter, primarily reflecting higher treasury management and service-related fee income.
•Foreign exchange income was $14 million, an increase of $1 million.
Noninterest Expense
Total noninterest expense was $277 million in the third quarter, which included $16 million of amortization for tax credit and Community Reinvestment Act investments. Total operating noninterest expense was $261 million, an increase of $31 million quarter-over-quarter.
•Compensation and employee benefits were $176 million, an increase of $31 million, primarily reflecting $27 million of additional compensation expense from a change in equity award recognition for retirement eligible employees.
•Occupancy and equipment expense was $17 million, an increase of $1 million.
•Other operating expense was $38 million, an increase of $2 million, primarily reflecting an increase in net other real estate owned write-downs.
•The efficiency ratio was 35.6% in the third quarter, compared with 36.4% in the prior quarter.

4 Pre-tax, pre-provision income is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP financial measures in Table 15.
5 Fee income includes commercial and consumer deposit-related fees, lending and loan servicing fees, foreign exchange income, wealth management fees, and customer derivative income. Refer to Table 3 for additional fee and noninterest income information.

3

TAX RELATED ITEMS
Third quarter 2025 income tax expense was $97 million and the effective tax rate was 20.8%, compared with income tax expense of $92 million and 22.9% in the second quarter of 2025, primarily reflecting greater pre-tax income in the third quarter.
ASSET QUALITY
As of September 30, 2025, the credit quality of our loan portfolio remained resilient.
•The criticized loans ratio decreased 1 basis point quarter-over-quarter to 2.14% of loans held-for-investment (“HFI”) as of September 30, 2025, compared with 2.15% as of June 30, 2025. Criticized loans increased $8 million quarter-over-quarter to $1.2 billion as of September 30, 2025.
•The special mention loans ratio decreased 5 basis points quarter-over-quarter to 0.76% of loans HFI as of September 30, 2025, compared with 0.81% as of June 30, 2025, while the classified loans ratio increased 4 basis points to 1.38%.
•Nonperforming assets increased $29 million to $201 million as of September 30, 2025, from $172 million as of June 30, 2025. The nonperforming assets ratio was 0.25% of total assets as of September 30, 2025, up 3 basis points from the prior quarter.
•Third quarter 2025 net charge-offs were $18 million, or annualized 0.13% of average loans HFI, compared with $15 million, or annualized 0.11% of average loans HFI, for the second quarter of 2025.
•The allowance for loan losses increased to $791 million, or 1.42% of loans HFI, as of September 30, 2025, compared with $760 million, or 1.38% of loans HFI, as of June 30, 2025, driven primarily by changes in the impact of the economic forecast.
•Third quarter 2025 provision for credit losses was $36 million, compared with $45 million in the second quarter of 2025.
DIVIDEND PAYOUT AND CAPITAL ACTIONS
East West’s Board of Directors has declared the fourth quarter 2025 dividend for the Company’s common stock. The common stock cash dividend of $0.60 per share is payable on November 17, 2025 to shareholders of record as of November 3, 2025.
East West repurchased approximately 258 thousand shares of common stock during the third quarter of 2025 for $25 million. $216 million of East West’s share repurchase authorization remains available.
4

Conference Call
East West will host a conference call to discuss third quarter 2025 earnings with the public on Tuesday, October 21, 2025, at 2:00 p.m. PT/5:00 p.m. ET. The public and investment community are invited to listen as management discusses third quarter 2025 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, 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.

For Investor Inquiries, Contact: |  | For Media Inquiries, Contact:
Adrienne Atkinson |  | Angie Tang
Director of Investor Relations |  | SVP - Corporate Communications
T: (626) 788-7536 |  | T: (626) 768-6853
E: adrienne.atkinson@eastwestbank.com |  | E: angie.tang@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, Singapore, and other countries; 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 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; and 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 and its subsequent filings with the SEC. 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.
5

EAST WEST BANCORP, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATED BALANCE SHEET |
($ and shares in thousands, except per share data) |
(unaudited) |
Table 1 |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | September 30, 2025 % or Basis Point Change |
|  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents, and deposits with banks |  | $ | 4,762,394 |  | $ | 4,514,476 |  | $ | 4,976,174 |  | 5.5 | % |  | (4.3) | % |  |
| Securities purchased under resale agreements (“resale agreements”) |  | 425,000 |  | 425,000 |  | 425,000 |  | — |  |  | — |  |  |
| Available-for-sale (“AFS”) debt securities (amortized cost of $13,189,313, $13,035,258 and $10,667,293) |  | 12,741,152 |  | 12,488,913 |  | 10,133,877 |  | 2.0 |  |  | 25.7 |  |  |
| Held-to-maturity (“HTM”) debt securities, at amortized cost (fair value of $2,467,362, $2,437,247 and $2,510,352) |  | 2,880,682 |  | 2,892,982 |  | 2,928,399 |  | (0.4) |  |  | (1.6) |  |  |
| Total cash, resale agreements and debt securities |  | 20,809,228 |  | 20,321,371 |  | 18,463,450 |  | 2.4 |  |  | 12.7 |  |  |
| Loans held-for-sale (“HFS”) |  | 19,596 |  | 11,873 |  | — |  | 65.0 |  |  | 100.0 |  |  |
| Loans held-for-investment (“HFI”) (net of allowance for loan losses of $790,520, $760,416 and $696,485) |  | 54,976,252 |  | 54,200,768 |  | 52,556,696 |  | 1.4 |  |  | 4.6 |  |  |
| Affordable housing partnership, tax credit and Community Reinvestment Act (“CRA”) investments, net |  | 982,247 |  | 968,389 |  | 924,439 |  | 1.4 |  |  | 6.3 |  |  |
| Goodwill |  | 465,697 |  | 465,697 |  | 465,697 |  | — |  |  | — |  |  |
| Operating lease right-of-use assets |  | 77,855 |  | 80,523 |  | 82,775 |  | (3.3) |  |  | (5.9) |  |  |
| Other assets |  | 2,338,656 |  | 2,109,446 |  | 1,990,663 |  | 10.9 |  |  | 17.5 |  |  |
| Total assets |  | $ | 79,669,531 |  | $ | 78,158,067 |  | $ | 74,483,720 |  | 1.9 | % |  | 7.0 | % |  |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
| Deposits |  | $ | 66,587,556 |  | $ | 65,029,493 |  | $ | 61,700,115 |  | 2.4 | % |  | 7.9 | % |  |
| Short-term borrowings |  | 9,851 |  | — |  | — |  |  | 100.0 |  |  | 100.0 |  |  |
| Federal Home Loan Bank (“FHLB”) advances |  | 3,000,000 |  | 3,500,000 |  | 3,500,000 |  |  | (14.3) |  |  | (14.3) |  |  |
| Securities sold under repurchase agreements (“repurchase agreements”) |  | 53,489 |  | — |  | — |  | 100.0 |  |  | 100.0 |  |  |
| Long-term debt and finance lease liabilities |  | 35,707 |  | 35,789 |  | 36,055 |  | (0.2) |  |  | (1.0) |  |  |
| Operating lease liabilities |  | 83,998 |  | 86,987 |  | 90,369 |  | (3.4) |  |  | (7.0) |  |  |
| Accrued expenses and other liabilities |  | 1,316,130 |  | 1,304,031 |  | 1,492,642 |  | 0.9 |  |  | (11.8) |  |  |
| Total liabilities |  | 71,086,731 |  | 69,956,300 |  | 66,819,181 |  | 1.6 |  |  | 6.4 |  |  |
| Stockholders’ equity |  | 8,582,800 |  | 8,201,767 |  | 7,664,539 |  | 4.6 |  |  | 12.0 |  |  |
| Total liabilities and stockholders’ equity |  | $ | 79,669,531 |  | $ | 78,158,067 |  | $ | 74,483,720 |  | 1.9 | % |  | 7.0 | % |  |
| Total cash, resale agreements and debt securities/total assets |  | 26.12 | % |  | 26.00 | % |  | 24.79 | % |  | 12 |  | bps | 133 |  | bps |
| Total stockholders’ equity to assets ratio |  | 10.77 | % |  | 10.49 | % |  | 10.29 | % |  | 28 |  |  | 48 |  |  |
| Tangible common equity (“TCE”) ratio (1) |  | 10.24 | % |  | 9.95 | % |  | 9.72 | % |  | 29 |  | bps | 52 |  | bps |
| Book value per share |  | $ | 62.39 |  | $ | 59.51 |  | $ | 55.30 |  | 4.8 | % |  | 12.8 | % |  |
| Tangible book value (1) per share |  | $ | 58.97 |  | $ | 56.10 |  | $ | 51.90 |  | 5.1 |  |  | 13.6 |  |  |
| Number of common shares at period-end |  | 137,568 |  | 137,816 |  | 138,609 |  | (0.2) | % |  | (0.8) | % |  |

(1)The TCE ratio and the tangible book value are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP measures in Table 16.
6

EAST WEST BANCORP, INC. AND SUBSIDIARIES
TOTAL LOANS AND DEPOSITS DETAIL
($ in thousands)
(unaudited)
Table 2
|  |  |  |  |  |  |  |  | September 30, 2025 % Change
|  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr
Loans: |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
| Commercial and industrial (“C&I”) |  | $ | 18,001,529 |  |  | $ | 17,822,881 |  |  | $ | 17,068,002 |  |  | 1.0 | % |  | 5.5 | %
| Commercial real estate (“CRE”): |  |  |  |  |  |  |  |  |  |
| CRE |  | 15,231,167 |  |  | 14,978,775 |  |  | 14,568,209 |  |  | 1.7 |  |  | 4.6 |
| Multifamily residential |  | 5,037,284 |  |  | 4,978,915 |  |  | 5,141,481 |  |  | 1.2 |  |  | (2.0) |
| Construction and land |  | 776,587 |  |  | 709,713 |  |  | 693,775 |  |  | 9.4 |  |  | 11.9 |
| Total CRE |  | 21,045,038 |  |  | 20,667,403 |  |  | 20,403,465 |  |  | 1.8 |  |  | 3.1 |
Consumer: |  |  |  |  |  |  |  |  |  |
| Residential mortgage: |  |  |  |  |  |  |  |  |  |
| Single-family residential |  | 14,820,911 |  |  | 14,569,997 |  |  | 13,963,097 |  |  | 1.7 |  |  | 6.1 |
| Home equity lines of credit (“HELOCs”) |  | 1,852,408 |  |  | 1,850,965 |  |  | 1,760,716 |  |  | 0.1 |  |  | 5.2 |
| Total residential mortgage |  | 16,673,319 |  |  | 16,420,962 |  |  | 15,723,813 |  |  | 1.5 |  |  | 6.0 |
| Other consumer |  | 46,886 |  |  | 49,938 |  |  | 57,901 |  |  | (6.1) |  |  | (19.0) |
Total loans HFI (1) |  | 55,766,772 |  |  | 54,961,184 |  |  | 53,253,181 |  |  | 1.5 |  |  | 4.7 |
Loans HFS |  | 19,596 |  |  | 11,873 |  |  | — |  |  | 65.0 |  |  | 100.0 |
| Total loans (1) |  | 55,786,368 |  |  | 54,973,057 |  |  | 53,253,181 |  |  | 1.5 |  |  | 4.8 |
Allowance for loan and lease losses (“ALLL”) |  | (790,520) |  |  | (760,416) |  |  | (696,485) |  |  | 4.0 |  |  | 13.5 |
| Net loans (1) |  | $ | 54,995,848 |  |  | $ | 54,212,641 |  |  | $ | 52,556,696 |  |  | 1.4 | % |  | 4.6 | %
Deposits by product: |  |  |  |  |  |  |  |  |  |
| Noninterest-bearing demand |  | $ | 16,141,954 |  |  | $ | 15,470,239 |  |  | $ | 14,690,864 |  |  | 4.3 | % |  | 9.9 | %
| Interest-bearing checking |  | 7,854,206 |  |  | 8,143,893 |  |  | 8,052,720 |  |  | (3.6) |  |  | (2.5) |
| Money market |  | 15,609,931 |  |  | 15,420,318 |  |  | 14,021,042 |  |  | 1.2 |  |  | 11.3 |
| Savings |  | 1,689,978 |  |  | 1,683,703 |  |  | 1,718,378 |  |  | 0.4 |  |  | (1.7) |
| Time deposits |  | 25,291,487 |  |  | 24,311,340 |  |  | 23,217,111 |  |  | 4.0 |  |  | 8.9 |
| Total deposits |  | $ | 66,587,556 |  |  | $ | 65,029,493 |  |  | $ | 61,700,115 |  |  | 2.4 | % |  | 7.9 | %
Deposits by segment/region: |  |  |  |  |  |  |  |  |  |
| Consumer and Business Banking - U.S. (2) |  | $ | 34,378,478 |  |  | $ | 33,407,064 |  |  | $ | 32,104,904 |  |  | 2.9 | % |  | 7.1 | %
| Commercial Banking - U.S. (2) |  | 24,126,028 |  |  | 23,595,005 |  |  | 23,212,616 |  |  | 2.3 |  |  | 3.9 |
| International Branches (3) |  | 3,835,351 |  |  | 3,579,005 |  |  | 3,307,793 |  |  | 7.2 |  |  | 15.9 |
| Treasury and Other - U.S. (4) |  | 4,247,699 |  |  | 4,448,419 |  |  | 3,074,802 |  |  | (4.5) |  |  | 38.1 |
| Total deposits |  | $ | 66,587,556 |  |  | $ | 65,029,493 |  |  | $ | 61,700,115 |  |  | 2.4 | % |  | 7.9 | %

(1)Includes $24 million, $74 million and $52 million of net deferred loan fees and net unamortized premiums as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.
(2)Excludes deposits presented under International Branches.
(3)Deposits of our Hong Kong branch and China subsidiary bank branches are a subset of Commercial Banking segment deposits.
(4)Treasury and Other segment deposits reflect wholesale, public funds, and brokered deposits, primarily managed by the Company’s Treasury department.
7

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, 2025 % Change |  |
|  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr |  |
Interest and dividend income (1) |  | $ | 1,129,732 |  |  | $ | 1,058,999 |  |  | $ | 1,075,899 |  |  | 6.7% |  | 5.0% |  |
Interest expense |  | 452,202 |  |  | 441,925 |  |  | 503,177 |  |  | 2.3 |  | (10.1) |  |
Net interest income before provision for credit losses |  | 677,530 |  |  | 617,074 |  |  | 572,722 |  |  | 9.8 |  | 18.3 |  |
Provision for credit losses |  | 36,000 |  |  | 45,000 |  |  | 42,000 |  |  | (20.0) |  | (14.3) |  |
Net interest income after provision for credit losses |  | 641,530 |  |  | 572,074 |  |  | 530,722 |  |  | 12.1% |  | 20.9% |  |
Noninterest income: |  |  |  |  |  |  |  |  |  |  |  |
| Commercial and consumer deposit-related fees |  | 28,409 |  |  | 26,865 |  |  | 26,815 |  |  | 5.7 |  | 5.9 |  |
| Lending and loan servicing fees |  | 27,605 |  |  | 25,586 |  |  | 26,453 |  |  | 7.9 |  | 4.4 |  |
| Foreign exchange income |  | 14,491 |  |  | 13,715 |  |  | 13,569 |  |  | 5.7 |  | 6.8 |  |
| Wealth management fees |  | 14,562 |  |  | 10,725 |  |  | 10,683 |  |  | 35.8 |  | 36.3 |  |
| Customer derivative income |  | 6,442 |  |  | 3,645 |  |  | 3,774 |  |  | 76.7 |  | 70.7 |  |
| Total fee income | 91,509 |  |  | 80,536 |  |  | 81,294 |  |  | 13.6 |  | 12.6 |  |
| Derivative mark-to-market and credit valuation adjustments |  | (318) |  |  | (1,444) |  |  | (4,480) |  |  | 78.0 |  | 92.9 |  |
| Net gains on AFS debt securities |  | 57 |  |  | 746 |  |  | 145 |  |  | (92.4) |  | (60.7) |  |
| Other investment income |  | 705 |  |  | 678 |  |  | 2,800 |  |  | 4.0 |  | (74.8) |  |
| Other income |  | 8,564 |  |  | 5,662 |  |  | 4,636 |  |  | 51.3 |  | 84.7 |  |
Total noninterest income |  | 100,517 |  |  | 86,178 |  |  | 84,395 |  |  | 16.6% |  | 19.1% |  |
Noninterest expense: |  |  |  |  |  |  |  |  |  |  |  |
| Compensation and employee benefits (2) |  | 175,585 |  |  | 144,841 |  |  | 135,464 |  |  | 21.2% |  | 29.6% |  |
| Occupancy and equipment expense |  | 16,970 |  |  | 16,289 |  |  | 17,001 |  |  | 4.2 |  | (0.2) |  |
| Deposit account expense |  | 8,851 |  |  | 9,348 |  |  | 12,229 |  |  | (5.3) |  | (27.6) |  |
| Computer and software related expenses |  | 12,949 |  |  | 13,446 |  |  | 11,436 |  |  | (3.7) |  | 13.2 |  |
| Deposit insurance premiums and regulatory assessments (3) |  | 8,644 |  |  | 9,133 |  |  | 9,178 |  |  | (5.4) |  | (5.8) |  |
| Other operating expense |  | 38,231 |  |  | 36,727 |  |  | 34,892 |  |  | 4.1 |  | 9.6 |  |
| Total operating noninterest expense | 261,230 |  |  | 229,784 |  |  | 220,200 |  |  | 13.7 |  | 18.6 |  |
| Amortization of tax credit and CRA investments (4) |  | 15,693 |  |  | 26,236 |  |  | 5,600 |  |  | (40.2) |  | 180.2 |  |
Total noninterest expense |  | 276,923 |  |  | 256,020 |  |  | 225,800 |  |  | 8.2 |  | 22.6 |  |
Income before income taxes |  | 465,124 |  |  | 402,232 |  |  | 389,317 |  |  | 15.6 |  | 19.5 |  |
Income tax expense |  | 96,730 |  |  | 91,979 |  |  | 90,151 |  |  | 5.2 |  | 7.3 |  |
Net income |  | $ | 368,394 |  |  | $ | 310,253 |  |  | $ | 299,166 |  |  | 18.7% |  | 23.1% |  |
Earnings per share (“EPS”) |  |  |  |  |  |  |  |  |  |  |  |
- Basic |  | $ | 2.68 |  |  | $ | 2.25 |  |  | $ | 2.16 |  |  | 18.9% |  | 24.0% |  |
- Diluted |  | $ | 2.65 |  |  | $ | 2.24 |  |  | $ | 2.14 |  |  | 18.6 |  | 23.8 |  |
Weighted-average number of shares outstanding |  |  |  |  |  |  |  |  |  |
- Basic |  | 137,676 |  |  | 137,818 |  |  | 138,606 |  |  | (0.1)% |  | (0.7)% |  |
- Diluted |  | 138,942 |  |  | 138,789 |  |  | 139,648 |  |  | 0.1 |  | (0.5) |  |

(1)Includes $32 million of discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans during the three months ended September 30, 2025.
(2)Includes $27 million of additional compensation expense from the change in equity award expense recognition for retirement eligible employees for the three months ended September 30, 2025.
(3)Includes $2 million and $833 thousand of FDIC special assessment reversals for the three months ended September 30, 2025 and June 30, 2025, respectively.
(4)Includes $11 million in DC Solar recoveries for the three months ended September 30, 2024.
8

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, 2025 % Change
|  |  | September 30, 2025 |  | September 30, 2024 |  | Yr-o-Yr
Interest and dividend income (1) |  | $ | 3,220,533 |  |  | $ | 3,133,930 |  |  |  | 2.8% |
Interest expense |  | 1,325,728 |  |  | 1,442,840 |  |  |  | (8.1) |
Net interest income before provision for credit losses |  | 1,894,805 |  |  | 1,691,090 |  |  |  | 12.0 |
Provision for credit losses |  | 130,000 |  |  | 104,000 |  |  |  | 25.0 |
Net interest income after provision for credit losses |  | 1,764,805 |  |  | 1,587,090 |  |  |  | 11.2% |
Noninterest income: |  |  |  |  |  |  |  |
| Commercial and consumer deposit-related fees |  | 82,349 |  |  | 77,412 |  |  |  | 6.4 |
| Lending and loan servicing fees |  | 79,421 |  |  | 73,718 |  |  |  | 7.7 |
| Foreign exchange income |  | 44,043 |  |  | 37,962 |  |  |  | 16.0 |
| Wealth management fees |  | 38,966 |  |  | 28,798 |  |  |  | 35.3 |
| Customer derivative income |  | 15,626 |  |  | 11,141 |  |  |  | 40.3 |
| Total fee income | 260,405 |  |  | 229,031 |  |  |  | 13.7 |
| Derivative mark-to-market and credit valuation adjustments |  | (3,232) |  |  | (2,333) |  |  |  | (38.5) |
| Net gains on AFS debt securities |  | 934 |  |  | 1,979 |  |  |  | (52.8) |
| Other investment income |  | 3,645 |  |  | 6,201 |  |  |  | (41.2) |
| Other income |  | 17,045 |  |  | 12,175 |  |  |  | 40.0 |
Total noninterest income |  | 278,797 |  |  | 247,053 |  |  |  | 12.8% |
Noninterest expense: |  |  |  |  |  |  |  |
| Compensation and employee benefits (2) |  | 466,861 |  |  | 410,864 |  |  |  | 13.6% |
| Occupancy and equipment expense |  | 48,948 |  |  | 48,016 |  |  |  | 1.9 |
| Deposit account expense |  | 27,241 |  |  | 36,467 |  |  |  | (25.3) |
| Computer and software related expenses |  | 39,709 |  |  | 34,172 |  |  |  | 16.2 |
| Deposit insurance premiums and regulatory assessments (3) |  | 28,162 |  |  | 39,535 |  |  |  | (28.8) |
| Other operating expense |  | 116,499 |  |  | 104,193 |  |  |  | 11.8 |
| Total operating noninterest expense | 727,420 |  |  | 673,247 |  |  |  | 8.0 |
| Amortization of tax credit and CRA investments (4) |  | 57,671 |  |  | 34,859 |  |  |  | 65.4 |
Total noninterest expense |  | 785,091 |  |  | 708,106 |  |  |  | 10.9 |
Income before income taxes |  | 1,258,511 |  |  | 1,126,037 |  |  |  | 11.8 |
Income tax expense |  | 289,594 |  |  | 253,566 |  |  |  | 14.2 |
Net income |  | $ | 968,917 |  |  | $ | 872,471 |  |  |  | 11.1% |
EPS |  |  |  |  |  |  |  |
- Basic |  | $ | 7.03 |  |  | $ | 6.28 |  |  |  | 11.9% |
- Diluted |  | $ | 6.97 |  |  | $ | 6.23 |  |  |  | 11.7 |
Weighted-average number of shares outstanding |  |  |  |  |  |  |  |
- Basic |  | 137,897 |  |  | 138,997 |  |  |  | (0.8)% |
- Diluted |  | 139,090 |  |  | 139,939 |  |  |  | (0.6) |

(1)Includes $32 million of discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans during the nine months ended September 30, 2025.
(2)Includes $27 million of additional compensation expense from the change in equity award expense recognition for retirement eligible employees for the three months ended September 30, 2025.
(3)Includes $2 million of FDIC special assessment reversals and $12 million of FDIC special assessment charges for the nine months ended September 30, 2025 and September 30, 2024, respectively.
(4)Includes $14 million of DC Solar recoveries for the nine months ended September 30, 2024.
9

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED AVERAGE BALANCES
($ in thousands)
(unaudited)
Table 5 |  |  |  |  |  |
|  |  | Three Months Ended |  | September 30, 2025 % Change |  | Nine Months Ended |  | September 30, 2025 % Change
|  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr |  | September 30, 2025 |  | September 30, 2024 |  | Yr-o-Yr
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| C&I |  | $ | 17,799,708 |  |  | $ | 17,363,095 |  |  | $ | 16,492,589 |  |  | 2.5% |  | 7.9% |  | $ | 17,346,156 |  |  | $ | 16,318,594 |  |  | 6.3%
| CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| CRE |  | 15,110,134 |  |  | 14,864,277 |  |  | 14,483,163 |  |  | 1.7 |  | 4.3 |  | 14,903,483 |  |  | 14,589,772 |  |  | 2.2
| Multifamily residential |  | 4,963,703 |  |  | 4,981,155 |  |  | 5,127,659 |  |  | (0.4) |  | (3.2) |  | 4,970,095 |  |  | 5,066,906 |  |  | (1.9)
| Construction and land |  | 752,402 |  |  | 689,713 |  |  | 661,840 |  |  | 9.1 |  | 13.7 |  | 706,215 |  |  | 662,173 |  |  | 6.7
| Total CRE |  | 20,826,239 |  |  | 20,535,145 |  |  | 20,272,662 |  |  | 1.4 |  | 2.7 |  | 20,579,793 |  |  | 20,318,851 |  |  | 1.3
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Single-family residential |  | 14,688,172 |  |  | 14,477,173 |  |  | 13,846,946 |  |  | 1.5 |  | 6.1 |  | 14,469,661 |  |  | 13,654,170 |  |  | 6.0
| HELOCs |  | 1,848,524 |  |  | 1,858,881 |  |  | 1,754,361 |  |  | (0.6) |  | 5.4 |  | 1,839,613 |  |  | 1,743,413 |  |  | 5.5
| Total residential mortgage |  | 16,536,696 |  |  | 16,336,054 |  |  | 15,601,307 |  |  | 1.2 |  | 6.0 |  | 16,309,274 |  |  | 15,397,583 |  |  | 5.9
| Other consumer |  | 45,935 |  |  | 47,138 |  |  | 53,958 |  |  | (2.6) |  | (14.9) |  | 47,537 |  |  | 54,233 |  |  | (12.3)
| Total loans (1) |  | $ | 55,208,578 |  |  | $ | 54,281,432 |  |  | $ | 52,420,516 |  |  | 1.7% |  | 5.3% |  | $ | 54,282,760 |  |  | $ | 52,089,261 |  |  | 4.2%
Interest-earning assets |  | $ | 76,206,138 |  |  | $ | 73,903,125 |  |  | $ | 70,263,495 |  |  | 3.1% |  | 8.5% |  | $ | 74,288,924 |  |  | $ | 68,902,563 |  |  | 7.8%
Total assets |  | $ | 79,310,698 |  |  | $ | 76,862,028 |  |  | $ | 73,268,158 |  |  | 3.2% |  | 8.2% |  | $ | 77,279,375 |  |  | $ | 72,049,714 |  |  | 7.3%
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest-bearing demand |  | $ | 15,767,292 |  |  | $ | 15,114,806 |  |  | $ | 14,606,511 |  |  | 4.3% |  | 7.9% |  | $ | 15,331,138 |  |  | $ | 14,741,590 |  |  | 4.0%
| Interest-bearing checking |  | 7,501,315 |  |  | 7,597,103 |  |  | 7,762,719 |  |  | (1.3) |  | (3.4) |  | 7,621,067 |  |  | 7,642,423 |  |  | (0.3)
| Money market |  | 16,565,937 |  |  | 15,325,928 |  |  | 14,201,258 |  |  | 8.1 |  | 16.7 |  | 15,581,506 |  |  | 13,855,167 |  |  | 12.5
| Savings |  | 1,705,332 |  |  | 1,745,220 |  |  | 1,744,644 |  |  | (2.3) |  | (2.3) |  | 1,734,325 |  |  | 1,783,011 |  |  | (2.7)
| Time deposits |  | 24,649,891 |  |  | 23,894,775 |  |  | 22,270,124 |  |  | 3.2 |  | 10.7 |  | 23,913,370 |  |  | 20,886,769 |  |  | 14.5
| Total deposits |  | $ | 66,189,767 |  |  | $ | 63,677,832 |  |  | $ | 60,585,256 |  |  | 3.9% |  | 9.3% |  | $ | 64,181,406 |  |  | $ | 58,908,960 |  |  | 9.0%

(1)Includes loans HFS.
10

EAST WEST BANCORP, INC. AND SUBSIDIARIES
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES |  |
($ in thousands) |  |
(unaudited) |  |
Table 6 |  |
|  |  | Three Months Ended |  |
|  |  | September 30, 2025 |  | June 30, 2025 |  |
|  |  | Average Balance |  | Interest |  | Average Yield/Rate (1) |  | Average Balance |  | Interest |  | Average Yield/Rate (1) |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing cash and deposits with banks |  | $ | 4,873,674 |  |  | $ | 47,170 |  |  | 3.84 | % |  | $ | 3,699,036 |  |  | $ | 34,935 |  |  | 3.79 | % |  |
| Resale agreements |  | 425,000 |  |  | 1,616 |  |  | 1.51 | % |  | 425,000 |  |  | 1,624 |  |  | 1.53 | % |  |
| Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| AFS |  | 12,650,323 |  |  | 146,336 |  |  | 4.59 | % |  | 12,435,531 |  |  | 141,496 |  |  | 4.56 | % |  |
| HTM |  | 2,884,267 |  |  | 12,226 |  |  | 1.68 | % |  | 2,896,410 |  |  | 12,292 |  |  | 1.70 | % |  |
| Total debt securities |  | 15,534,590 |  |  | 158,562 |  |  | 4.05 | % |  | 15,331,941 |  |  | 153,788 |  |  | 4.02 | % |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| C&I |  | 17,799,708 |  |  | 345,947 |  |  | 7.71 | % | (2) | 17,363,095 |  |  | 303,791 |  |  | 7.02 | % |  |
| CRE |  | 20,826,239 |  |  | 327,168 |  |  | 6.23 | % |  | 20,535,145 |  |  | 319,666 |  |  | 6.24 | % |  |
| Residential mortgage |  | 16,536,696 |  |  | 245,728 |  |  | 5.90 | % |  | 16,336,054 |  |  | 241,666 |  |  | 5.93 | % |  |
| Other consumer |  | 45,935 |  |  | 675 |  |  | 5.83 | % |  | 47,138 |  |  | 572 |  |  | 4.87 | % |  |
| Total loans (3) |  | 55,208,578 |  |  | 919,518 |  |  | 6.61 | % | (2) | 54,281,432 |  |  | 865,695 |  |  | 6.40 | % |  |
| FHLB and FRB stock |  | 164,296 |  |  | 2,866 |  |  | 6.92 | % |  | 165,716 |  |  | 2,957 |  |  | 7.16 | % |  |
| Total interest-earning assets |  | $ | 76,206,138 |  |  | $ | 1,129,732 |  |  | 5.88 | % |  | $ | 73,903,125 |  |  | $ | 1,058,999 |  |  | 5.75 | % |  |
Noninterest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks |  | 410,446 |  |  |  |  |  |  | 350,343 |  |  |  |  |  |  |
| Allowance for loan, lease and securities’ losses |  | (789,195) |  |  |  |  |  |  | (745,121) |  |  |  |  |  |  |
| Other assets |  | 3,483,309 |  |  |  |  |  |  | 3,353,681 |  |  |  |  |  |  |
| Total assets |  | $ | 79,310,698 |  |  |  |  |  |  | $ | 76,862,028 |  |  |  |  |  |  |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Checking deposits |  | $ | 7,501,315 |  |  | $ | 46,725 |  |  | 2.47 | % |  | $ | 7,597,103 |  |  | $ | 47,013 |  |  | 2.48 | % |  |
| Money market deposits |  | 16,565,937 |  |  | 133,951 |  |  | 3.21 | % |  | 15,325,928 |  |  | 124,282 |  |  | 3.25 | % |  |
| Savings deposits |  | 1,705,332 |  |  | 3,353 |  |  | 0.78 | % |  | 1,745,220 |  |  | 3,700 |  |  | 0.85 | % |  |
| Time deposits |  | 24,649,891 |  |  | 230,608 |  |  | 3.71 | % |  | 23,894,775 |  |  | 225,593 |  |  | 3.79 | % |  |
| Total interest-bearing deposits |  | 50,422,475 |  |  | 414,637 |  |  | 3.26 | % |  | 48,563,026 |  |  | 400,588 |  |  | 3.31 | % |  |
| Short-term borrowings and federal funds purchased |  | 474 |  |  | 3 |  |  | 2.51 | % |  | 659 |  |  | 1 |  |  | 0.61 | % |  |
| FHLB advances |  | 3,228,262 |  |  | 36,740 |  |  | 4.52 | % |  | 3,500,003 |  |  | 39,313 |  |  | 4.51 | % |  |
| Repurchase agreements |  | 13,012 |  |  | 148 |  |  | 4.51 | % |  | 119,061 |  |  | 1,352 |  |  | 4.55 | % |  |
| Long-term debt and finance lease liabilities |  | 35,732 |  |  | 674 |  |  | 7.48 | % |  | 35,811 |  |  | 671 |  |  | 7.52 | % |  |
| Total interest-bearing liabilities |  | $ | 53,699,955 |  |  | $ | 452,202 |  |  | 3.34 | % |  | $ | 52,218,560 |  |  | $ | 441,925 |  |  | 3.39 | % |  |
Noninterest-bearing liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits |  | 15,767,292 |  |  |  |  |  |  | 15,114,806 |  |  |  |  |  |  |
| Accrued expenses and other liabilities |  | 1,462,237 |  |  |  |  |  |  | 1,458,680 |  |  |  |  |  |  |
| Stockholders’ equity |  | 8,381,214 |  |  |  |  |  |  | 8,069,982 |  |  |  |  |  |  |
| Total liabilities and stockholders’ equity |  | $ | 79,310,698 |  |  |  |  |  |  | $ | 76,862,028 |  |  |  |  |  |  |
| Total deposits |  | $ | 66,189,767 |  |  | $ | 414,637 |  |  | 2.49 | % |  | $ | 63,677,832 |  |  | $ | 400,588 |  |  | 2.52 | % |  |
Interest rate spread |  |  |  |  |  | 2.54 | % |  |  |  |  |  | 2.36 | % |  |
Adjusted interest rate spread (4) |  |  |  |  |  | 2.37 | % |  |  |  |  |  | 2.36 | % |  |
Net interest income and net interest margin |  |  |  | $ | 677,530 |  |  | 3.53 | % |  |  |  | $ | 617,074 |  |  | 3.35 | % |  |
Adjusted net interest income and adjusted net interest margin (4) |  |  |  | $ | 645,234 |  |  | 3.36 | % |  |  |  | $ | 617,074 |  |  | 3.35 | % |  |

(1)Annualized.
(2)Includes $32 million of additional interest income from discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans during the three months ended September 30, 2025.
(3)Includes loans HFS.
(4)See reconciliation of GAAP to non-GAAP measures in Table 12.
11

EAST WEST BANCORP, INC. AND SUBSIDIARIES |
QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES |  |  |
($ in thousands) |  |  |
(unaudited) |  |  |
Table 7 |  |  |
|  | Three Months Ended |  |  |
| September 30, 2025 |  | September 30, 2024 |  |  |
| Average Balance |  | Interest |  | Average Yield/Rate (1) |  | Average Balance |  | Interest |  | Average Yield/Rate (1) |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing cash and deposits with banks |  | $ | 4,873,674 |  |  | $ | 47,170 |  |  | 3.84 | % |  | $ | 4,987,191 |  |  | $ | 60,060 |  |  | 4.79 | % |  |  |
| Resale agreements |  | 425,000 |  |  | 1,616 |  |  | 1.51 | % |  | 443,261 |  |  | 1,663 |  |  | 1.49 | % |  |  |
| Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| AFS |  | 12,650,323 |  |  | 146,336 |  |  | 4.59 | % |  | 9,316,232 |  |  | 111,552 |  |  | 4.76 | % |  |  |
| HTM |  | 2,884,267 |  |  | 12,226 |  |  | 1.68 | % |  | 2,931,033 |  |  | 12,431 |  |  | 1.69 | % |  |  |
| Total debt securities |  | 15,534,590 |  |  | 158,562 |  |  | 4.05 | % |  | 12,247,265 |  |  | 123,983 |  |  | 4.03 | % |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| C&I |  | 17,799,708 |  |  | 345,947 |  |  | 7.71 | % | (2) | 16,492,589 |  |  | 328,619 |  |  | 7.93 | % |  |  |
| CRE |  | 20,826,239 |  |  | 327,168 |  |  | 6.23 | % |  | 20,272,662 |  |  | 328,254 |  |  | 6.44 | % |  |  |
| Residential mortgage |  | 16,536,696 |  |  | 245,728 |  |  | 5.90 | % |  | 15,601,307 |  |  | 229,727 |  |  | 5.86 | % |  |  |
| Other consumer |  | 45,935 |  |  | 675 |  |  | 5.83 | % |  | 53,958 |  |  | 753 |  |  | 5.55 | % |  |  |
| Total loans (3) |  | 55,208,578 |  |  | 919,518 |  |  | 6.61 | % | (2) | 52,420,516 |  |  | 887,353 |  |  | 6.73 | % |  |  |
| FHLB and FRB stock |  | 164,296 |  |  | 2,866 |  |  | 6.92 | % |  | 165,262 |  |  | 2,840 |  |  | 6.84 | % |  |  |
| Total interest-earning assets |  | $ | 76,206,138 |  |  | $ | 1,129,732 |  |  | 5.88 | % |  | $ | 70,263,495 |  |  | $ | 1,075,899 |  |  | 6.09 | % |  |  |
Noninterest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks |  | 410,446 |  |  |  |  |  |  | 341,856 |  |  |  |  |  |  |  |
| Allowance for loan, lease and securities’ losses |  | (789,195) |  |  |  |  |  |  | (691,399) |  |  |  |  |  |  |  |
| Other assets |  | 3,483,309 |  |  |  |  |  |  | 3,354,206 |  |  |  |  |  |  |  |
| Total assets |  | $ | 79,310,698 |  |  |  |  |  |  | $ | 73,268,158 |  |  |  |  |  |  |  |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Checking deposits |  | $ | 7,501,315 |  |  | $ | 46,725 |  |  | 2.47 | % |  | $ | 7,762,719 |  |  | $ | 58,226 |  |  | 2.98 | % |  |  |
| Money market deposits |  | 16,565,937 |  |  | 133,951 |  |  | 3.21 | % |  | 14,201,258 |  |  | 136,384 |  |  | 3.82 | % |  |  |
| Savings deposits |  | 1,705,332 |  |  | 3,353 |  |  | 0.78 | % |  | 1,744,644 |  |  | 4,811 |  |  | 1.10 | % |  |  |
| Time deposits |  | 24,649,891 |  |  | 230,608 |  |  | 3.71 | % |  | 22,270,124 |  |  | 254,650 |  |  | 4.55 | % |  |  |
| Total interest-bearing deposits |  | 50,422,475 |  |  | 414,637 |  |  | 3.26 | % |  | 45,978,745 |  |  | 454,071 |  |  | 3.93 | % |  |  |
| Short-term borrowings and federal funds purchased |  | 474 |  |  | 3 |  |  | 2.51 | % |  | 1,170 |  |  | 16 |  |  | 5.44 | % |  |  |
| FHLB advances |  | 3,228,262 |  |  | 36,740 |  |  | 4.52 | % |  | 3,440,219 |  |  | 48,261 |  |  | 5.58 | % |  |  |
| Repurchase agreements |  | 13,012 |  |  | 148 |  |  | 4.51 | % |  | 3,455 |  |  | 49 |  |  | 5.64 | % |  |  |
| Long-term debt and finance lease liabilities |  | 35,732 |  |  | 674 |  |  | 7.48 | % |  | 36,084 |  |  | 780 |  |  | 8.60 | % |  |  |
| Total interest-bearing liabilities |  | $ | 53,699,955 |  |  | $ | 452,202 |  |  | 3.34 | % |  | $ | 49,459,673 |  |  | $ | 503,177 |  |  | 4.05 | % |  |  |
Noninterest-bearing liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits |  | 15,767,292 |  |  |  |  |  |  | 14,606,511 |  |  |  |  |  |  |  |
| Accrued expenses and other liabilities |  | 1,462,237 |  |  |  |  |  |  | 1,758,641 |  |  |  |  |  |  |  |
| Stockholders’ equity |  | 8,381,214 |  |  |  |  |  |  | 7,443,333 |  |  |  |  |  |  |  |
| Total liabilities and stockholders’ equity |  | $ | 79,310,698 |  |  |  |  |  |  | $ | 73,268,158 |  |  |  |  |  |  |  |
| Total deposits |  | $ | 66,189,767 |  |  | $ | 414,637 |  |  | 2.49 | % |  | $ | 60,585,256 |  |  | $ | 454,071 |  |  | 2.98 | % |  |  |
Interest rate spread |  |  |  |  |  | 2.54 | % |  |  |  |  |  | 2.04 | % |  |  |
Adjusted interest rate spread (4) |  |  |  |  |  | 2.37 | % |  |  |  |  |  | 2.04 | % |  |  |
Net interest income and net interest margin |  |  |  | $ | 677,530 |  |  | 3.53 | % |  |  |  | $ | 572,722 |  |  | 3.24 | % |  |  |
Adjusted net interest income and adjusted net interest margin (4) |  |  |  | $ | 645,234 |  |  | 3.36 | % |  |  |  | $ | 572,722 |  |  | 3.24 | % |  |  |

(1)Annualized.
(2)Includes $32 million of additional interest income from discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans during the three months ended September 30, 2025.
(3)Includes loans HFS.
(4)See reconciliation of GAAP to non-GAAP measures in Table 12.
12

EAST WEST BANCORP, INC. AND SUBSIDIARIES
YEAR-TO-DATE AVERAGE BALANCES, YIELDS AND RATES
($ in thousands)
(unaudited)
Table 8 |  |
| Nine Months Ended |  |
September 30, 2025 |  | September 30, 2024 |  |
Average Balance |  | Interest |  | Average Yield/Rate (1) |  | Average Balance |  | Interest |  | Average Yield/Rate (1) |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing cash and deposits with banks |  | $ | 4,232,434 |  |  | $ | 121,242 |  |  | 3.83 | % |  | $ | 5,054,542 |  |  | $ | 183,848 |  |  | 4.86 | % |  |
| Resale agreements |  | 425,000 |  |  | 4,850 |  |  | 1.53 | % |  | 550,913 |  |  | 9,663 |  |  | 2.34 | % |  |
| Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| AFS |  | 12,287,338 |  |  | 423,351 |  |  | 4.61 | % |  | 8,125,876 |  |  | 273,652 |  |  | 4.50 | % |  |
| HTM |  | 2,896,271 |  |  | 36,783 |  |  | 1.70 | % |  | 2,940,920 |  |  | 37,455 |  |  | 1.70 | % |  |
| Total debt securities |  | 15,183,609 |  |  | 460,134 |  |  | 4.05 | % |  | 11,066,796 |  |  | 311,107 |  |  | 3.76 | % |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| C&I |  | 17,346,156 |  |  | 943,152 |  |  | 7.27 | % | (2) | 16,318,594 |  |  | 977,077 |  |  | 8.00 | % |  |
| CRE |  | 20,579,793 |  |  | 958,220 |  |  | 6.23 | % |  | 20,318,851 |  |  | 975,447 |  |  | 6.41 | % |  |
| Residential mortgage |  | 16,309,274 |  |  | 722,285 |  |  | 5.92 | % |  | 15,397,583 |  |  | 667,367 |  |  | 5.79 | % |  |
| Other consumer |  | 47,537 |  |  | 1,968 |  |  | 5.54 | % |  | 54,233 |  |  | 2,292 |  |  | 5.65 | % |  |
| Total loans (3) |  | 54,282,760 |  |  | 2,625,625 |  |  | 6.47 | % | (2) | 52,089,261 |  |  | 2,622,183 |  |  | 6.72 | % |  |
| FHLB and FRB stock |  | 165,121 |  |  | 8,682 |  |  | 7.03 | % |  | 141,051 |  |  | 7,129 |  |  | 6.75 | % |  |
| Total interest-earning assets |  | $ | 74,288,924 |  |  | $ | 3,220,533 |  |  | 5.80 | % |  | $ | 68,902,563 |  |  | $ | 3,133,930 |  |  | 6.08 | % |  |
Noninterest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks |  | 368,909 |  |  |  |  |  |  | 332,983 |  |  |  |  |  |  |
| Allowance for loan, lease and securities’ losses |  | (750,458) |  |  |  |  |  |  | (681,988) |  |  |  |  |  |  |
| Other assets |  | 3,372,000 |  |  |  |  |  |  | 3,496,156 |  |  |  |  |  |  |
| Total assets |  | $ | 77,279,375 |  |  |  |  |  |  | $ | 72,049,714 |  |  |  |  |  |  |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Checking deposits |  | $ | 7,621,067 |  |  | $ | 141,649 |  |  | 2.49 | % |  | $ | 7,642,423 |  |  | $ | 164,727 |  |  | 2.88 | % |  |
| Money market deposits |  | 15,581,506 |  |  | 374,251 |  |  | 3.21 | % |  | 13,855,167 |  |  | 406,450 |  |  | 3.92 | % |  |
| Savings deposits |  | 1,734,325 |  |  | 10,500 |  |  | 0.81 | % |  | 1,783,011 |  |  | 13,935 |  |  | 1.04 | % |  |
| Time deposits |  | 23,913,370 |  |  | 680,806 |  |  | 3.81 | % |  | 20,886,769 |  |  | 706,640 |  |  | 4.52 | % |  |
| Total interest-bearing deposits |  | 48,850,268 |  |  | 1,207,206 |  |  | 3.30 | % |  | 44,167,370 |  |  | 1,291,752 |  |  | 3.91 | % |  |
| BTFP, short-term borrowings and federal funds purchased |  | 520 |  |  | 10 |  |  | 2.57 | % |  | 1,284,826 |  |  | 42,154 |  |  | 4.38 | % |  |
| FHLB advances |  | 3,408,426 |  |  | 114,919 |  |  | 4.51 | % |  | 2,501,826 |  |  | 104,840 |  |  | 5.60 | % |  |
| Repurchase agreements |  | 46,275 |  |  | 1,577 |  |  | 4.56 | % |  | 3,370 |  |  | 142 |  |  | 5.63 | % |  |
| Long-term debt and finance lease liabilities |  | 35,820 |  |  | 2,016 |  |  | 7.52 | % |  | 65,969 |  |  | 3,952 |  |  | 8.00 | % |  |
| Total interest-bearing liabilities |  | $ | 52,341,309 |  |  | $ | 1,325,728 |  |  | 3.39 | % |  | $ | 48,023,361 |  |  | $ | 1,442,840 |  |  | 4.01 | % |  |
Noninterest-bearing liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits |  | 15,331,138 |  |  |  |  |  |  | 14,741,590 |  |  |  |  |  |  |
| Accrued expenses and other liabilities |  | 1,498,313 |  |  |  |  |  |  | 2,109,318 |  |  |  |  |  |  |
| Stockholders’ equity |  | 8,108,615 |  |  |  |  |  |  | 7,175,445 |  |  |  |  |  |  |
| Total liabilities and stockholders’ equity |  | $ | 77,279,375 |  |  |  |  |  |  | $ | 72,049,714 |  |  |  |  |  |  |
| Total deposits |  | $ | 64,181,406 |  |  | $ | 1,207,206 |  |  | 2.51 | % |  | $ | 58,908,960 |  |  | $ | 1,291,752 |  |  | 2.93 | % |  |
Interest rate spread |  |  |  |  |  | 2.41 | % |  |  |  |  |  | 2.07 | % |  |
Adjusted interest rate spread (4) |  |  |  |  |  | 2.35 | % |  |  |  |  |  | 2.07 | % |  |
Net interest income and net interest margin |  |  |  | $ | 1,894,805 |  |  | 3.41 | % |  |  |  | $ | 1,691,090 |  |  | 3.28 | % |  |
Adjusted net interest income and adjusted net interest margin (4) |  |  |  | $ | 1,862,509 |  |  | 3.35 | % |  |  |  | $ | 1,691,090 |  |  | 3.28 | % |  |

(1)Annualized.
(2)Includes $32 million of additional interest income from discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans during the nine months ended September 30, 2025.
(3)Includes loans HFS.
(4)See reconciliation of GAAP to non-GAAP measures in Table 12.
13

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED RATIOS
(unaudited)
Table 9
|  | Three Months Ended (1) |  | September 30, 2025 Basis Point Change
|  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr |
| Return on average assets |  | 1.84 | % |  | 1.62 | % |  | 1.62 | % |  | 22 |  | bps | 22 |  | bps
| Adjusted return on average assets (2) |  | 1.82 | % |  | 1.65 | % |  | 1.58 | % |  | 17 |  |  | 24 |  |
| Return on average common equity |  | 17.44 | % |  | 15.42 | % |  | 15.99 | % |  | 202 |  |  | 145 |  |
| Adjusted return on average common equity (2) |  | 17.20 | % |  | 15.71 | % |  | 15.57 | % |  | 149 |  |  | 163 |  |
| Return on average TCE (3) |  | 18.48 | % |  | 16.39 | % |  | 17.08 | % |  | 209 |  |  | 140 |  |
| Adjusted return on average TCE (3) |  | 18.23 | % |  | 16.69 | % |  | 16.63 | % |  | 154 |  |  | 160 |  |
| Interest rate spread |  | 2.54 | % |  | 2.36 | % |  | 2.04 | % |  | 18 |  |  | 50 |  |
| Adjusted interest rate spread (4) |  | 2.37 | % |  | 2.36 | % |  | 2.04 | % |  | 1 |  |  | 33 |  |
| Net interest margin |  | 3.53 | % |  | 3.35 | % |  | 3.24 | % |  | 18 |  |  | 29 |  |
| Adjusted net interest margin (4) |  | 3.36 | % |  | 3.35 | % |  | 3.24 | % |  | 1 |  |  | 12 |  |
| Average loan yield |  | 6.61 | % |  | 6.40 | % |  | 6.73 | % |  | 21 |  |  | (12) |  |
| Adjusted average loan yield (4) |  | 6.38 | % |  | 6.40 | % |  | 6.73 | % |  | (2) |  |  | (35) |  |
| Yield on average interest-earning assets |  | 5.88 | % |  | 5.75 | % |  | 6.09 | % |  | 13 |  |  | (21) |  |
| Adjusted yield on average interest-earning assets (4) |  | 5.71 | % |  | 5.75 | % |  | 6.09 | % |  | (4) |  |  | (38) |  |
| Average cost of interest-bearing deposits |  | 3.26 | % |  | 3.31 | % |  | 3.93 | % |  | (5) |  |  | (67) |  |
| Average cost of deposits |  | 2.49 | % |  | 2.52 | % |  | 2.98 | % |  | (3) |  |  | (49) |  |
| Average cost of funds |  | 2.58 | % |  | 2.63 | % |  | 3.12 | % |  | (5) |  |  | (54) |  |
| Operating noninterest expense/average assets |  | 1.31 | % |  | 1.20 | % |  | 1.20 | % |  | 11 |  |  | 11 |  |
| Efficiency ratio |  | 35.59 | % |  | 36.41 | % |  | 34.36 | % |  | (82) |  |  | 123 |  |
| Adjusted efficiency ratio (5) |  | 33.75 | % |  | 36.52 | % |  | 36.07 | % |  | (277) |  |  | (232) |  |
| Efficiency ratio (fully taxable equivalent) (“FTE”) (5) |  | 35.51 | % |  | 36.32 | % |  | 34.34 | % |  | (81) |  |  | 117 |  |
| Adjusted efficiency ratio (FTE) (5) |  | 33.67 | % |  | 36.44 | % |  | 36.04 | % |  | (277) |  |  | (237) |  |
| Effective tax rate |  | 20.80 | % |  | 22.87 | % |  | 23.16 | % |  | (207) |  |  | (236) |  |
| Adjusted effective tax rate (6) |  | 20.80 | % |  | 21.28 | % |  | 23.16 | % |  | (48) |  | bps | (236) |  | bps

Refer to table footnotes on the following page.
14

EAST WEST BANCORP, INC. AND SUBSIDIARIES
SELECTED RATIOS
(unaudited)
Table 9 (continued)
|  | Nine Months Ended |  | September 30, 2025 Basis Point Change |  |
|  | September 30, 2025 |  | September 30, 2024 |  | Yr-o-Yr |  |
Return on average assets |  | 1.68 | % |  | 1.62 | % |  | 6 |  | bps
Adjusted return on average assets (2) |  | 1.68 | % |  | 1.61 | % |  | 7 |  |  |
Return on average common equity |  | 15.98 | % |  | 16.24 | % |  | (26) |  |  |
Adjusted return on average common equity (2) |  | 16.00 | % |  | 16.21 | % |  | (21) |  |  |
Return on average TCE (3) |  | 16.97 | % |  | 17.40 | % |  | (43) |  |  |
Adjusted return on average TCE (3) |  | 16.99 | % |  | 17.37 | % |  | (38) |  |  |
Interest rate spread |  | 2.41 | % |  | 2.07 | % |  | 34 |  |  |
Adjusted interest rate spread (4) |  | 2.35 | % |  | 2.07 | % |  | 28 |  |  |
Net interest margin |  | 3.41 | % |  | 3.28 | % |  | 13 |  |  |
Adjusted net interest margin (4) |  | 3.35 | % |  | 3.28 | % |  | 7 |  |  |
Average loan yield |  | 6.47 | % |  | 6.72 | % |  | (25) |  |  |
Adjusted average loan yield (4) |  | 6.39 | % |  | 6.72 | % |  | (33) |  |  |
Yield on average interest-earning assets |  | 5.80 | % |  | 6.08 | % |  | (28) |  |  |
Adjusted yield on average interest-earning assets (4) |  | 5.74 | % |  | 6.08 | % |  | (34) |  |  |
Average cost of interest-bearing deposits |  | 3.30 | % |  | 3.91 | % |  | (61) |  |  |
Average cost of deposits |  | 2.51 | % |  | 2.93 | % |  | (42) |  |  |
Average cost of funds |  | 2.62 | % |  | 3.07 | % |  | (45) |  |  |
Operating noninterest expense/average assets |  | 1.26 | % |  | 1.25 | % |  | 1 |  |  |
Efficiency ratio |  | 36.12 | % |  | 36.54 | % |  | (42) |  |  |
Adjusted efficiency ratio (5) |  | 35.49 | % |  | 36.65 | % |  | (116) |  |  |
Efficiency ratio (FTE) (5) |  | 36.04 | % |  | 36.47 | % |  | (43) |  |  |
Adjusted efficiency ratio (FTE) (5) |  | 35.41 | % |  | 36.58 | % |  | (117) |  |  |
Effective tax rate |  | 23.01 | % |  | 22.52 | % |  | 49 |  |  |
Adjusted effective tax rate (6) |  | 22.50 | % |  | 22.52 | % |  | (2) |  | bps

|  |  |  |  |  |  |  | September 30, 2025 Basis Point Change |
|  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | Qtr-o-Qtr |  | Yr-o-Yr |  |
Loan-to-deposit ratio |  | 83.78 | % |  | 84.54 | % |  | 86.31 | % |  | (76) |  |  | (253) |  |  |

(1)Annualized except for efficiency ratio and effective tax rate.
(2)Adjusted return on average assets and adjusted return on average common equity are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP financial measures in Table 14.
(3)Return on average TCE and adjusted return on average TCE are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP financial measures in Table 16.
(4)Adjusted interest rate spread, adjusted net interest margin, adjusted average loan yield and adjusted yield on average interest-earning assets are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP financial measures in Table 12.
(5)Adjusted efficiency ratio, efficiency ratio (FTE) and adjusted efficiency ratio (FTE) are non-GAAP financial measures. See reconciliation of GAAP to non-GAAP financial measures in Table 15.
(6)Adjusted effective tax rate is a non-GAAP financial measures. See reconciliation of GAAP to non-GAAP financial measures in Table 13.
15

EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR CREDIT LOSSES
($ in thousands)
(unaudited)
Table 10
|  |  | Three Months Ended September 30, 2025
|  |  | Commercial |  | Consumer |  |
|  |  |  |  | CRE |  |  | Residential Mortgage |  |  |  |  |
($ in thousands) |  |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  |  | Single-Family Residential |  | HELOCs |  |  | Other Consumer |  | Total
ALLL, June 30, 2025 |  |  | $ | 442,291 |  |  | $ | 212,618 |  |  | $ | 29,073 |  |  | $ | 17,856 |  |  |  | $ | 51,997 |  |  | $ | 5,256 |  |  |  | $ | 1,325 |  |  | $ | 760,416 |
ALLL recognized on purchased credit-deteriorated (“PCD”) loans |  |  | 18,175 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 18,175 |
(Reversal of) provision for credit losses on loans | (a) |  | (992) |  |  | 14,552 |  |  | 6,101 |  |  | 671 |  |  |  | 8,873 |  |  | 854 |  |  |  | (143) |  |  | 29,916 |
Gross charge-offs |  |  | (25,325) |  |  | (5) |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | (73) |  |  | (25,403) |
Gross recoveries |  |  | 7,236 |  |  | 2 |  |  | 13 |  |  | 3 |  |  |  | 6 |  |  | 3 |  |  |  | — |  |  | 7,263 |
Total net (charge-offs) recoveries |  |  | (18,089) |  |  | (3) |  |  | 13 |  |  | 3 |  |  |  | 6 |  |  | 3 |  |  |  | (73) |  |  | (18,140) |
Foreign currency translation adjustment |  |  | 153 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 153 |
ALLL, September 30, 2025 |  |  | $ | 441,538 |  |  | $ | 227,167 |  |  | $ | 35,187 |  |  | $ | 18,530 |  |  |  | $ | 60,876 |  |  | $ | 6,113 |  |  |  | $ | 1,109 |  |  | $ | 790,520 |

|  |  | Three Months Ended June 30, 2025 |  |
|  |  | Commercial |  | Consumer |  |  |  |  |
|  |  |  |  | CRE |  |  | Residential Mortgage |  |  |  |  |  |  |  |
($ in thousands) |  |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  |  | Single-Family Residential |  | HELOCs |  |  | Other Consumer |  | Total |  |  |
ALLL, March 31, 2025 |  |  | $ | 421,288 |  |  | $ | 212,899 |  |  | $ | 32,324 |  |  | $ | 15,199 |  |  |  | $ | 46,929 |  |  | $ | 4,879 |  |  |  | $ | 1,338 |  |  | $ | 734,856 |  |  |  |
Provision for (reversal of) credit losses on loans | (a) |  | 27,595 |  |  | 8,007 |  |  | (3,274) |  |  | 2,654 |  |  |  | 5,064 |  |  | 369 |  |  |  | (259) |  |  | 40,156 |  |  |  |
Gross charge-offs |  |  | (8,151) |  |  | (8,306) |  |  | (3) |  |  | — |  |  |  | — |  |  | — |  |  |  | (4) |  |  | (16,464) |  |  |  |
Gross recoveries |  |  | 1,504 |  |  | 18 |  |  | 26 |  |  | 3 |  |  |  | 4 |  |  | 8 |  |  |  | 250 |  |  | 1,813 |  |  |  |
Total net recoveries (charge-offs) |  |  | (6,647) |  |  | (8,288) |  |  | 23 |  |  | 3 |  |  |  | 4 |  |  | 8 |  |  |  | 246 |  |  | (14,651) |  |  |  |
Foreign currency translation adjustment |  |  | 55 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 55 |  |  |  |
ALLL, June 30, 2025 |  |  | $ | 442,291 |  |  | $ | 212,618 |  |  | $ | 29,073 |  |  | $ | 17,856 |  |  |  | $ | 51,997 |  |  | $ | 5,256 |  |  |  | $ | 1,325 |  |  | $ | 760,416 |  |  |  |

|  |  | Three Months Ended September 30, 2024
|  |  | Commercial |  | Consumer |  |  |
|  |  |  |  | CRE |  |  | Residential Mortgage |  |  |  |  |  |
($ in thousands) |  |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  |  | Single-Family Residential |  | HELOCs |  |  | Other Consumer |  | Total |
ALLL, June 30, 2024 |  |  | $ | 379,984 |  |  | $ | 194,794 |  |  | $ | 40,254 |  |  | $ | 14,322 |  |  |  | $ | 49,523 |  |  | $ | 3,340 |  |  |  | $ | 1,577 |  |  | $ | 683,794 |  |
Provision for (reversal of) credit losses on loans | (a) |  | 26,416 |  |  | 27,123 |  |  | (8,493) |  |  | (1,975) |  |  |  | (1,293) |  |  | (128) |  |  |  | 67 |  |  | 41,717 |  |
Gross charge-offs |  |  | (29,260) |  |  | (734) |  |  | — |  |  | (145) |  |  |  | — |  |  | (10) |  |  |  | (149) |  |  | (30,298) |  |
Gross recoveries |  |  | 838 |  |  | 61 |  |  | 21 |  |  | 6 |  |  |  | 1 |  |  | 8 |  |  |  | — |  |  | 935 |  |
Total net (charge-offs) recoveries |  |  | (28,422) |  |  | (673) |  |  | 21 |  |  | (139) |  |  |  | 1 |  |  | (2) |  |  |  | (149) |  |  | (29,363) |  |
Foreign currency translation adjustment |  |  | 337 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 337 |  |
ALLL, September 30, 2024 |  |  | $ | 378,315 |  |  | $ | 221,244 |  |  | $ | 31,782 |  |  | $ | 12,208 |  |  |  | $ | 48,231 |  |  | $ | 3,210 |  |  |  | $ | 1,495 |  |  | $ | 696,485 |  |

16

EAST WEST BANCORP, INC. AND SUBSIDIARIES
ALLOWANCE FOR CREDIT LOSSES
($ in thousands)
(unaudited)
Table 10 (continued)
|  |  | Nine Months Ended September 30, 2025
|  |  | Commercial |  | Consumer |  |
|  |  |  |  | CRE |  |  | Residential Mortgage |  |  |  |  |
($ in thousands) |  |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  |  | Single-Family Residential |  | HELOCs |  |  | Other Consumer |  | Total
ALLL, December 31, 2024 |  |  | $ | 384,319 |  |  | $ | 218,677 |  |  | $ | 32,117 |  |  | $ | 17,497 |  |  |  | $ | 44,816 |  |  | $ | 3,132 |  |  |  | $ | 1,494 |  |  | $ | 702,052 |
ALLL recognized on PCD loans |  |  | 18,175 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 18,175 |
Provision for (reversal of) credit losses on loans | (a) |  | 62,973 |  |  | 30,664 |  |  | 3,028 |  |  | 3,020 |  |  |  | 16,009 |  |  | 2,962 |  |  |  | (522) |  |  | 118,134 |
Gross charge-offs |  |  | (34,464) |  |  | (22,248) |  |  | (7) |  |  | (1,996) |  |  |  | (9) |  |  | — |  |  |  | (126) |  |  | (58,850) |
Gross recoveries |  |  | 10,304 |  |  | 74 |  |  | 49 |  |  | 9 |  |  |  | 60 |  |  | 19 |  |  |  | 263 |  |  | 10,778 |
Total net (charge-offs) recoveries |  |  | (24,160) |  |  | (22,174) |  |  | 42 |  |  | (1,987) |  |  |  | 51 |  |  | 19 |  |  |  | 137 |  |  | (48,072) |
Foreign currency translation adjustment |  |  | 231 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 231 |
ALLL, September 30, 2025 |  |  | $ | 441,538 |  |  | $ | 227,167 |  |  | $ | 35,187 |  |  | $ | 18,530 |  |  |  | $ | 60,876 |  |  | $ | 6,113 |  |  |  | $ | 1,109 |  |  | $ | 790,520 |

|  |  | Nine Months Ended September 30, 2024 |  |  |
|  |  | Commercial |  | Consumer |  |  |  |  |
|  |  |  |  | CRE |  |  | Residential Mortgage |  |  |  |  |  |  |  |
($ in thousands) |  |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  |  | Single-Family Residential |  | HELOCs |  |  | Other Consumer |  | Total |  |  |
ALLL, December 31, 2023 |  |  | $ | 392,685 |  |  | 170,592 |  |  | 34,375 |  |  | 10,469 |  |  |  | 55,018 |  |  | 3,947 |  |  |  | $ | 1,657 |  |  | $ | 668,743 |  |  |  |
Provision for (reversal of) credit losses on loans | (a) |  | 44,473 |  |  | 64,542 |  |  | (2,833) |  |  | 3,828 |  |  |  | (6,760) |  |  | (792) |  |  |  | 175 |  |  | 102,633 |  |  |  |
Gross charge-offs |  |  | (63,392) |  |  | (14,235) |  |  | (6) |  |  | (2,289) |  |  |  | (35) |  |  | (10) |  |  |  | (337) |  |  | (80,304) |  |  |  |
Gross recoveries |  |  | 4,365 |  |  | 345 |  |  | 246 |  |  | 200 |  |  |  | 8 |  |  | 65 |  |  |  | — |  |  | 5,229 |  |  |  |
Total net (charge-offs) recoveries |  |  | (59,027) |  |  | (13,890) |  |  | 240 |  |  | (2,089) |  |  |  | (27) |  |  | 55 |  |  |  | (337) |  |  | (75,075) |  |  |  |
Foreign currency translation adjustment |  |  | 184 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 184 |  |  |  |
ALLL, September 30, 2024 |  |  | $ | 378,315 |  |  | $ | 221,244 |  |  | $ | 31,782 |  |  | $ | 12,208 |  |  |  | $ | 48,231 |  |  | $ | 3,210 |  |  |  | $ | 1,495 |  |  | $ | 696,485 |  |  |  |

|  |  | Three Months Ended |  | Nine Months Ended
($ in thousands) |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Unfunded Credit Facilities |  |  |  |  |  |  |  |  |  |  |
Allowance for unfunded credit commitments, beginning of period (1) |  |  | $ | 45,307 |  |  | $ | 40,464 |  |  | $ | 38,783 |  |  | $ | 39,526 |  |  | $ | 37,698 |
Provision for credit losses on unfunded credit commitments | (b) |  | 3,084 |  |  | 4,844 |  |  | 283 |  |  | 8,866 |  |  | 1,367 |
Foreign currency translation adjustment |  |  | (1) |  |  | (1) |  |  | (4) |  |  | (2) |  |  | (3) |
Allowance for unfunded credit commitments, end of period (1) |  |  | $ | 48,390 |  |  | $ | 45,307 |  |  | $ | 39,062 |  |  | $ | 48,390 |  |  | $ | 39,062 |
Provision for credit losses: |  |  |  |  |  |  |  |  |  |  |
Provision for credit losses on loans and unfunded credit commitments | (a)+(b) |  | $ | 33,000 |  |  | $ | 45,000 |  |  | $ | 42,000 |  |  | $ | 127,000 |  |  | $ | 104,000 |
Provision for credit losses on AFS debt securities | (c) |  | 3,000 |  |  | — |  |  | — |  |  | 3,000 |  |  | — |
Total provision for credit losses | (a)+(b)+(c) |  | $ | 36,000 |  |  | $ | 45,000 |  |  | $ | 42,000 |  |  | $ | 130,000 |  |  | $ | 104,000 |

(1)Included in Accrued expenses and other liabilities on the Condensed Consolidated Balance Sheet.
17

EAST WEST BANCORP, INC. AND SUBSIDIARIES |
CRITICIZED LOANS, NONPERFORMING ASSETS, CREDIT QUALITY RATIOS AND |
COMPOSITION OF ALLOWANCE BY PORTFOLIO |
($ in thousands) |
(unaudited) |
Table 11 |
Criticized Loans |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |
Special mention loans |  | $ | 422,751 |  |  | $ | 446,665 |  |  | $ | 468,593 |  |
Classified loans |  | 768,568 |  |  | 736,228 |  |  | 641,642 |  |
Total criticized loans (1) |  | $ | 1,191,319 |  |  | $ | 1,182,893 |  |  | $ | 1,110,235 |  |

(1)Excludes loans HFS.

Nonperforming Assets |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |
Nonaccrual loans: |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |
| C&I |  | $ | 70,065 |  |  | $ | 71,894 |  |  | $ | 75,272 |  |
| Total CRE |  | 29,772 |  |  | 9,420 |  |  | 19,175 |  |
Consumer: |  |  |  |  |  |  |
| Total residential mortgage |  | 57,024 |  |  | 58,003 |  |  | 52,311 |  |
| Other consumer |  | 73 |  |  | 137 |  |  | 102 |  |
| Total nonaccrual loans |  | 156,934 |  |  | 139,454 |  |  | 146,860 |  |
Other real estate owned, net |  | 24,208 |  |  | 32,224 |  |  | 41,248 |  |
Other nonperforming assets |  | — |  |  | — |  |  | 7,358 |  |
Nonperforming loans HFS |  | 19,596 |  |  | — |  |  | — |  |
| Total nonperforming assets |  | $ | 200,738 |  |  | $ | 171,678 |  |  | $ | 195,466 |  |
Credit Quality Ratios |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |
Annualized quarterly net charge-offs to average loans HFI |  | 0.13 | % |  | 0.11 | % |  | 0.22 | % |
Annualized YTD net charge-offs to YTD average loans HFI |  | 0.12 | % |  | 0.11 | % |  | 0.19 | % |
Special mention loans to loans HFI |  | 0.76 | % |  | 0.81 | % |  | 0.88 | % |
Classified loans to loans HFI |  | 1.38 | % |  | 1.34 | % |  | 1.20 | % |
Criticized loans to loans HFI |  | 2.14 | % |  | 2.15 | % |  | 2.08 | % |
Nonperforming assets to total assets |  | 0.25 | % |  | 0.22 | % |  | 0.26 | % |
Nonaccrual loans to loans HFI |  | 0.28 | % |  | 0.25 | % |  | 0.28 | % |
ALLL to loans HFI |  | 1.42 | % |  | 1.38 | % |  | 1.31 | % |

Composition of ALLL by Portfolio |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |
Loan Category |  | ALLL |  | ALLL/ Loans HFI |  | ALLL |  | ALLL/ Loans HFI |  | ALLL |  | ALLL/ Loans HFI |
| C&I |  | $ | 441,538 |  |  | 2.45 | % |  | $ | 442,291 |  |  | 2.48 | % |  | $ | 378,315 |  |  | 2.22 | % |
| Total CRE |  | 280,884 |  |  | 1.33 |  |  | 259,547 |  |  | 1.26 |  |  | 265,234 |  |  | 1.30 |  |
| Multifamily |  | 35,187 |  |  | 0.70 |  |  | 29,073 |  |  | 0.58 |  |  | 31,782 |  |  | 0.62 |  |
| Office |  | 64,211 |  |  | 2.93 |  |  | 60,354 |  |  | 2.78 |  |  | 66,614 |  |  | 3.11 |  |
| All other CRE |  | 181,486 |  |  | 1.31 |  |  | 170,120 |  |  | 1.26 |  |  | 166,838 |  |  | 1.27 |  |
| Residential mortgage & consumer |  | 68,098 |  |  | 0.41 |  |  | 58,578 |  |  | 0.36 |  |  | 52,936 |  |  | 0.34 |  |
Total loans |  | $ | 790,520 |  |  | 1.42 | % |  | $ | 760,416 |  |  | 1.38 | % |  | $ | 696,485 |  |  | 1.31 | % |

18

EAST WEST BANCORP, INC. AND SUBSIDIARIES |  |
GAAP TO NON-GAAP RECONCILIATION |  |
($ in thousands) |  |
(unaudited) |  |
Table 12 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management believes that presenting the adjusted average C&I and loan yields, adjusted yield on average interest-earning assets, adjusted interest rate spread, and adjusted net interest margin that exclude the impact of discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans provide clarity to financial statement users regarding the changes in yields and margins, and allows comparability to prior periods. |  |
|  |  |  | Three Months Ended |  | Nine Months Ended |  |
Average C&I loan yield |  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024 |  |
Interest income on C&I loans |  | (a) |  | $ | 345,947 |  |  | $ | 303,791 |  |  | $ | 328,619 |  |  | $ | 943,152 |  |  | $ | 977,077 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  |  |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |  |  |
Adjusted interest income on loans |  | (b) |  | $ | 313,651 |  |  | $ | 303,791 |  |  | $ | 328,619 |  |  | $ | 910,856 |  |  | $ | 977,077 |  |  |
Average C&I loans |  | (c) |  | $ | 17,799,708 |  |  | $ | 17,363,095 |  |  | $ | 16,492,589 |  |  | $ | 17,346,156 |  |  | $ | 16,318,594 |  |  |
Average C&I loan yield (1) |  | (a)/(c) |  | 7.71 | % |  | 7.02 | % |  | 7.93 | % |  | 7.27 | % |  | 8.00 | % |  |
Adjusted average C&I loan yield (1) |  | (b)/(c) |  | 6.99 | % |  | 7.02 | % |  | 7.93 | % |  | 7.02 | % |  | 8.00 | % |  |
Average loan yield |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income on loans |  | (d) |  | $ | 919,518 |  |  | $ | 865,695 |  |  | $ | 887,353 |  |  | $ | 2,625,625 |  |  | $ | 2,622,183 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  |  |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |  |  |
Adjusted interest income on loans |  | (e) |  | $ | 887,222 |  |  | $ | 865,695 |  |  | $ | 887,353 |  |  | $ | 2,593,329 |  |  | $ | 2,622,183 |  |  |
Average loans |  | (f) |  | $ | 55,208,578 |  |  | $ | 54,281,432 |  |  | $ | 52,420,516 |  |  | $ | 54,282,760 |  |  | $ | 52,089,261 |  |  |
Average loan yield (1) |  | (d)/(f) |  | 6.61 | % |  | 6.40 | % |  | 6.73 | % |  | 6.47 | % |  | 6.72 | % |  |
Adjusted average loan yield (1) |  | (e)/(f) |  | 6.38 | % |  | 6.40 | % |  | 6.73 | % |  | 6.39 | % |  | 6.72 | % |  |
Yield on average interest-earning assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | (g) |  | $ | 1,129,732 |  |  | $ | 1,058,999 |  |  | $ | 1,075,899 |  |  | $ | 3,220,533 |  |  | $ | 3,133,930 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  |  |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |  |  |
Adjusted interest and dividend income |  | (h) |  | $ | 1,097,436 |  |  | $ | 1,058,999 |  |  | $ | 1,075,899 |  |  | $ | 3,188,237 |  |  | $ | 3,133,930 |  |  |
Average interest-earning assets |  | (i) |  | $ | 76,206,138 |  |  | $ | 73,903,125 |  |  | $ | 70,263,495 |  |  | $ | 74,288,924 |  |  | $ | 68,902,563 |  |  |
Yield on average interest-earning assets (1) |  | (j)=(g)/(i) |  | 5.88 | % |  | 5.75 | % |  | 6.09 | % |  | 5.80 | % |  | 6.08 | % |  |
Adjusted yield on average interest-earning assets (1) |  | (k)=(h)/(i) |  | 5.71 | % |  | 5.75 | % |  | 6.09 | % |  | 5.74 | % |  | 6.08 | % |  |
Interest rate spread |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on average interest-bearing liabilities (1) |  | (l) |  | 3.34 | % |  | 3.39 | % |  | 4.05 | % |  | 3.39 | % |  | 4.01 | % |  |
Interest rate spread |  | (j)-(l) |  | 2.54 | % |  | 2.36 | % |  | 2.04 | % |  | 2.41 | % |  | 2.07 | % |  |
Adjusted interest rate spread |  | (k)-(l) |  | 2.37 | % |  | 2.36 | % |  | 2.04 | % |  | 2.35 | % |  | 2.07 | % |  |
Net interest margin |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | (m) |  | $ | 677,530 |  |  | $ | 617,074 |  |  | $ | 572,722 |  |  | $ | 1,894,805 |  |  | $ | 1,691,090 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  |  |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |  |  |
Adjusted net interest income |  | (n) |  | $ | 645,234 |  |  | $ | 617,074 |  |  | $ | 572,722 |  |  | $ | 1,862,509 |  |  | $ | 1,691,090 |  |  |
Average interest-earning assets |  | (o) |  | $ | 76,206,138 |  |  | $ | 73,903,125 |  |  | $ | 70,263,495 |  |  | $ | 74,288,924 |  |  | $ | 68,902,563 |  |  |
Net interest margin (1) |  | (m)/(o) |  | 3.53 | % |  | 3.35 | % |  | 3.24 | % |  | 3.41 | % |  | 3.28 | % |  |
Adjusted net interest margin (1) |  | (n)/(o) |  | 3.36 | % |  | 3.35 | % |  | 3.24 | % |  | 3.35 | % |  | 3.28 | % |  |

(1)Annualized.
19

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 13 |  |  |  |  |  |  |  |  |  |  |  |
On June 30, 2025, California approved the single sales factor apportionment method (“CA SSF”) for financial institutions for the 2025 tax year, which resulted in $6 million of additional income tax expense recorded in the second quarter of 2025. The table below provides the computation of the Company’s effective tax rate and adjusted effective tax rate excluding the impact of the CA SSF. Management believes that presenting the adjusted effective tax rate computation allows comparability to prior periods.
|  |  |  | Three Months Ended |  | Nine Months Ended
|  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Income tax expense |  | (a) |  | $ | 96,730 |  |  | $ | 91,979 |  |  | $ | 90,151 |  |  | $ | 289,594 |  |  | $ | 253,566 |
Less: Impact of the CA SSF |  | (b) |  | — |  |  | (6,391) |  |  | — |  |  | (6,391) |  |  | — |
Adjusted income tax expense |  | (c)=(a)+(b) |  | $ | 96,730 |  |  | $ | 85,588 |  |  | $ | 90,151 |  |  | $ | 283,203 |  |  | $ | 253,566 |
Income before income taxes |  | (d) |  | 465,124 |  |  | 402,232 |  |  | 389,317 |  |  | 1,258,511 |  |  | 1,126,037 |
Effective tax rate |  | (a)/(d) |  | 20.80 | % |  | 22.87 | % |  | 23.16 | % |  | 23.01 | % |  | 22.52 | %
Less: Impact of the CA SSF |  | (b)/(d) |  | — | % |  | (1.59) | % |  | — | % |  | (0.51) | % |  | — | %
Adjusted effective tax rate |  | (c)/(d) |  | 20.80 | % |  | 21.28 | % |  | 23.16 | % |  | 22.50 | % |  | 22.52 | %

20

EAST WEST BANCORP, INC. AND SUBSIDIARIES |  |
GAAP TO NON-GAAP RECONCILIATION |  |
($ in thousands) |  |
(unaudited) |  |
Table 14 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net income and adjusted diluted EPS represent net income and diluted EPS adjusted for the following tax-effected impacts: discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans, change in equity award expense recognition for retirement eligible employees, FDIC special assessment and DC Solar adjustments; and the impact of the CA SSF. Management believes that presenting the computations of the adjusted net income, adjusted diluted EPS, adjusted return on average assets and adjusted return on average common equity that exclude the aforementioned tax-effected adjustments and the impact of the CA SSF provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods. •Discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans are included in Interest and dividend income on the Condensed Consolidated Statement of Income. •During the third quarter and first nine months of 2025, the Company recorded $27 million of additional compensation due to the change in equity award expense recognition for retirement eligible employees (included in Compensation and employee benefits on the Condensed Consolidated Statement of Income). •FDIC special assessment reversals/charges are included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income. •DC Solar recoveries related to the Company’s investment in DC Solar are included in Amortization of Tax Credit and CRA Investments on the Condensed Consolidated Statement of Income. |  |
|  |  |  | Three Months Ended |  | Nine Months Ended |  |
|  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024 |  |
Net income |  | (a) |  | $ | 368,394 |  |  | $ | 310,253 |  |  | $ | 299,166 |  |  | $ | 968,917 |  |  | $ | 872,471 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  | (b) |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |  |  |
Add: Change in equity award expense recognition for retirement eligible employees |  | (b) |  | 27,141 |  |  | — |  |  | — |  |  | 27,141 |  |  | — |  |  |
Less/Add: FDIC special assessment (reversal) charge |  | (b) |  | (1,927) |  |  | (833) |  |  | — |  |  | (1,927) |  |  | 12,185 |  |  |
Less: DC Solar recovery |  | (b) |  | — |  |  | — |  |  | (11,201) |  |  | — |  |  | (14,347) |  |  |
Tax effects adjustments (1) |  | (b) |  | 1,996 |  |  | 235 |  |  | 3,311 |  |  | 1,996 |  |  | 639 |  |  |
Add: Impact of the CA SSF |  | (b) |  | — |  |  | 6,391 |  |  | — |  |  | 6,391 |  |  | — |  |  |
Adjusted net income |  | (c)=(a)+∑(b) |  | $ | 363,308 |  |  | $ | 316,046 |  |  | $ | 291,276 |  |  | $ | 970,222 |  |  | $ | 870,948 |  |  |
Diluted weighted-average number of shares outstanding |  | (d) |  | 138,942 |  |  | 138,789 |  |  | 139,648 |  |  | 139,090 |  |  | 139,939 |  |  |
Diluted EPS |  | (e) |  | $ | 2.65 |  |  | $ | 2.24 |  |  | $ | 2.14 |  |  | $ | 6.97 |  |  | $ | 6.23 |  |  |
Less: Loan payoff discount accretion and interest recoveries |  | (f) |  | (0.23) |  |  | — |  |  | — |  |  | (0.23) |  |  | — |  |  |
Add: Change in equity award expense recognition for retirement eligible employees |  | (f) |  | 0.20 |  |  | — |  |  | — |  |  | 0.20 |  |  | — |  |  |
Less/Add: FDIC special assessment (reversal) charge |  | (f) |  | (0.01) |  |  | (0.01) |  |  | — |  |  | (0.01) |  |  | 0.09 |  |  |
Less: DC Solar recovery |  | (f) |  | — |  |  | — |  |  | (0.08) |  |  | — |  |  | (0.10) |  |  |
Tax effects of adjustments (1) |  | (f) |  | 0.01 |  |  | — |  |  | 0.03 |  |  | 0.01 |  |  | — |  |  |
Add: Impact of the CA SSF |  | (f) |  | — |  |  | 0.05 |  |  | — |  |  | 0.05 |  |  | — |  |  |
Adjusted diluted EPS |  | (g)=(e)+∑(f) |  | $ | 2.62 |  |  | $ | 2.28 |  |  | $ | 2.09 |  |  | $ | 6.99 |  |  | $ | 6.22 |  |  |
Average total assets |  | (h) |  | $ | 79,310,698 |  |  | $ | 76,862,028 |  |  | $ | 73,268,158 |  |  | $ | 77,279,375 |  |  | $ | 72,049,714 |  |  |
Average stockholders’ equity |  | (i) |  | $ | 8,381,214 |  |  | $ | 8,069,982 |  |  | $ | 7,443,333 |  |  | $ | 8,108,615 |  |  | $ | 7,175,445 |  |  |
Return on average assets |  | (a)/(h) |  | 1.84 | % |  | 1.62 | % |  | 1.62 | % |  | 1.68 | % |  | 1.62 | % |  |
Adjusted return on average assets (2) |  | (c)/(h) |  | 1.82 | % |  | 1.65 | % |  | 1.58 | % |  | 1.68 | % |  | 1.61 | % |  |
Return on average common equity (2) |  | (a)/(i) |  | 17.44 | % |  | 15.42 | % |  | 15.99 | % |  | 15.98 | % |  | 16.24 | % |  |
Adjusted return on average common equity (2) |  | (c)/(i) |  | 17.20 | % |  | 15.71 | % |  | 15.57 | % |  | 16.00 | % |  | 16.21 | % |  |

(1)Applied statutory tax rate of 28.18% for the three and nine months ended September 30, 2025, and the three months ended June 30, 2025. Applied statutory tax rate of 29.56% for the three and nine months ended September 30, 2024.
(2)Annualized.
21

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 15 |  |  |  |  |  |  |  |  |  |  |  |
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Non-GAAP measures used consist of FTE net interest income and total revenue. The FTE adjustment relates to tax exempt interest on certain investment securities and loans. Adjusted total revenue and adjusted total revenue (FTE) reflect the adjustments related to the discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans. Adjusted noninterest expense reflects the change in equity award expense recognition for retirement eligible employees, and the FDIC special assessment and DC Solar adjustments (as applicable). Efficiency ratio (FTE) represents noninterest expense divided by total revenue (FTE). Adjusted efficiency ratio and adjusted efficiency ratio (FTE) reflect the impacts of the aforementioned adjustments. Pre-tax, pre-provision income represents total revenue (FTE) less noninterest expense. Adjusted pre-tax, pre-provision income represents adjusted total revenue (FTE) less adjusted noninterest expense.
|  |  |  | Three Months Ended |  | Nine Months Ended
|  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Net interest income before provision for credit losses |  | (a) |  | $ | 677,530 |  |  | $ | 617,074 |  |  | $ | 572,722 |  |  | $ | 1,894,805 |  |  | $ | 1,691,090 |
FTE adjustment |  | (b) |  | 1,887 |  |  | 1,603 |  |  | 411 |  |  | 4,636 |  |  | 3,491 |
FTE net interest income before provision for credit losses |  | (c)=(a)+(b) |  | 679,417 |  |  | 618,677 |  |  | 573,133 |  |  | 1,899,441 |  |  | 1,694,581 |
Total noninterest income |  | (d) |  | 100,517 |  |  | 86,178 |  |  | 84,395 |  |  | 278,797 |  |  | 247,053 |
Total revenue |  | (e)=(a)+(d) |  | 778,047 |  |  | 703,252 |  |  | 657,117 |  |  | 2,173,602 |  |  | 1,938,143 |
Total revenue (FTE) |  | (f)=(c)+(d) |  | $ | 779,934 |  |  | $ | 704,855 |  |  | $ | 657,528 |  |  | $ | 2,178,238 |  |  | $ | 1,941,634 |
Less: Loan payoff discount accretion and interest recoveries |  | (g) |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |
Adjusted total revenue |  | (h)=(e)+(g) |  | 745,751 |  |  | 703,252 |  |  | 657,117 |  |  | 2,141,306 |  |  | 1,938,143 |
Adjusted total revenue (FTE) |  | (i)=(f)+(g) |  | $ | 747,638 |  |  | $ | 704,855 |  |  | $ | 657,528 |  |  | $ | 2,145,942 |  |  | $ | 1,941,634 |
Total noninterest expense |  | (j) |  | $ | 276,923 |  |  | $ | 256,020 |  |  | $ | 225,800 |  |  | $ | 785,091 |  |  | $ | 708,106 |
Less: Change in equity award expense recognition for retirement eligible employees |  | (k) |  | (27,141) |  |  | — |  |  | — |  |  | (27,141) |  |  | — |
Add/less: FDIC special assessment reversal (charge) |  | (k) |  | 1,927 |  |  | 833 |  |  | — |  |  | 1,927 |  |  | (12,185) |
Less: DC Solar recovery |  | (k) |  | — |  |  | — |  |  | 11,201 |  |  | — |  |  | 14,347 |
Adjusted noninterest expense |  | (l)=(j)+∑(k) |  | $ | 251,709 |  |  | $ | 256,853 |  |  | $ | 237,001 |  |  | $ | 759,877 |  |  | $ | 710,268 |
Efficiency ratio |  | (j)/(e) |  | 35.59 | % |  | 36.41 | % |  | 34.36 | % |  | 36.12 | % |  | 36.54 | %
Adjusted efficiency ratio |  | (l)/(h) |  | 33.75 | % |  | 36.52 | % |  | 36.07 | % |  | 35.49 | % |  | 36.65 | %
Efficiency ratio (FTE) |  | (j)/(f) |  | 35.51 | % |  | 36.32 | % |  | 34.34 | % |  | 36.04 | % |  | 36.47 | %
Adjusted efficiency ratio (FTE) |  | (l)/(i) |  | 33.67 | % |  | 36.44 | % |  | 36.04 | % |  | 35.41 | % |  | 36.58 | %
Pre-tax, pre-provision income |  | (f)-(j) |  | $ | 503,011 |  |  | $ | 448,835 |  |  | $ | 431,728 |  |  | $ | 1,393,147 |  |  | $ | 1,233,528 |
Adjusted pre-tax, pre-provision income |  | (i)-(l) |  | $ | 495,929 |  |  | $ | 448,002 |  |  | $ | 420,527 |  |  | $ | 1,386,065 |  |  | $ | 1,231,366 |

22

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 16 |  |  |  |  |  |  |  |
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible book value, tangible book value per share and TCE ratio are non-GAAP financial measures. Tangible book value and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.
|  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024
Common stock |  |  |  | $ | 170 |  |  | $ | 170 |  |  | $ | 170 |
Additional paid-in capital |  |  |  | 2,096,227 |  |  | 2,060,115 |  |  | 2,018,105 |
Retained earnings |  |  |  | 8,028,882 |  |  | 7,744,221 |  |  | 7,095,587 |
Treasury stock |  |  |  | (1,166,922) |  |  | (1,140,359) |  |  | (1,012,019) |
Accumulated other comprehensive income: |  |  |  |  |  |  |  |
AFS debt securities net unrealized losses |  |  |  | (383,621) |  |  | (466,568) |  |  | (456,493) |
Cash flow hedges net unrealized gains (losses) |  |  |  | 30,425 |  |  | 28,622 |  |  | 39,143 |
Foreign currency translation adjustments |  |  |  | (22,361) |  |  | (24,434) |  |  | (19,954) |
Total accumulated other comprehensive loss |  |  |  | (375,557) |  |  | (462,380) |  |  | (437,304) |
Stockholders’ equity |  | (a) |  | $ | 8,582,800 |  |  | $ | 8,201,767 |  |  | $ | 7,664,539 |
Less: Goodwill |  |  |  | (465,697) |  |  | (465,697) |  |  | (465,697) |
Mortgage servicing assets |  |  |  | (4,362) |  |  | (4,628) |  |  | (5,563) |
Tangible book value |  | (b) |  | $ | 8,112,741 |  |  | $ | 7,731,442 |  |  | $ | 7,193,279 |
Number of common shares at period-end |  | (c) |  | 137,568 |  |  | 137,816 |  |  | 138,609 |
Book value per share |  | (a)/(c) |  | $ | 62.39 |  |  | $ | 59.51 |  |  | $ | 55.30 |
Tangible book value per share |  | (b)/(c) |  | $ | 58.97 |  |  | $ | 56.10 |  |  | $ | 51.90 |
Total assets |  | (d) |  | $ | 79,669,531 |  |  | $ | 78,158,067 |  |  | $ | 74,483,720 |
Less: Goodwill |  |  |  | (465,697) |  |  | (465,697) |  |  | (465,697) |
Mortgage servicing assets |  |  |  | (4,362) |  |  | (4,628) |  |  | (5,563) |
Tangible assets |  | (e) |  | $ | 79,199,472 |  |  | $ | 77,687,742 |  |  | $ | 74,012,460 |
Total stockholders’ equity to assets ratio |  | (a)/(d) |  | 10.77 | % |  | 10.49 | % |  | 10.29 | %
TCE ratio |  | (b)/(e) |  | 10.24 | % |  | 9.95 | % |  | 9.72 | %

23

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Table 16 (continued) |  |  |  |  |  |  |  |  |  |  |  |
Return on average TCE represents tangible net income divided by average tangible book value. Tangible net income excludes the after-tax impacts of the amortization of mortgage servicing assets. Adjusted return on average TCE represents adjusted tangible net income divided by average tangible book value. Adjusted tangible net income is tangible net income excluding the following tax-effected impacts: discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans, change in equity award expense recognition for retirement eligible employees, FDIC special assessment and DC Solar adjustments, and the impact of the CA SSF. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.
|  |  |  | Three Months Ended |  | Nine Months Ended
|  |  |  | September 30, 2025 |  | June 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Net income |  | (f) |  | $ | 368,394 |  |  | $ | 310,253 |  |  | $ | 299,166 |  |  | $ | 968,917 |  |  | $ | 872,471 |
Add: Amortization of mortgage servicing assets |  |  |  | 266 |  |  | 316 |  |  | 348 |  |  | 875 |  |  | 988 |
Tax effect of amortization adjustment (1) |  |  |  | (75) |  |  | (89) |  |  | (103) |  |  | (247) |  |  | (292) |
Tangible net income |  | (g) |  | $ | 368,585 |  |  | $ | 310,480 |  |  | $ | 299,411 |  |  | $ | 969,545 |  |  | $ | 873,167 |
Less: Loan payoff discount accretion and interest recoveries |  |  |  | (32,296) |  |  | — |  |  | — |  |  | (32,296) |  |  | — |
Add: Change in equity award expense recognition for retirement eligible employees |  |  |  | 27,141 |  |  | — |  |  | — |  |  | 27,141 |  |  | — |
Less/Add: FDIC special assessment (reversal) charge |  |  |  | (1,927) |  |  | (833) |  |  | — |  |  | (1,927) |  |  | 12,185 |
Less: DC Solar recovery |  |  |  | — |  |  | — |  |  | (11,201) |  |  | — |  |  | (14,347) |
Tax effects of adjustments (1) |  |  |  | 1,996 |  |  | 235 |  |  | 3,311 |  |  | 1,996 |  |  | 639 |
Add: Impact of the CA SSF |  |  |  | — |  |  | 6,391 |  |  | — |  |  | 6,391 |  |  | — |
Adjusted tangible net income |  | (h) |  | $ | 363,499 |  |  | $ | 316,273 |  |  | $ | 291,521 |  |  | $ | 970,850 |  |  | $ | 871,644 |
Average stockholders’ equity |  | (i) |  | $ | 8,381,214 |  |  | $ | 8,069,982 |  |  | $ | 7,443,333 |  |  | $ | 8,108,615 |  |  | $ | 7,175,445 |
Less: Average goodwill |  |  |  | (465,697) |  |  | (465,697) |  |  | (465,697) |  |  | (465,697) |  |  | (465,697) |
Average mortgage servicing assets |  |  |  | (4,534) |  |  | (4,825) |  |  | (5,790) |  |  | (4,824) |  |  | (6,123) |
Average tangible book value |  | (j) |  | $ | 7,910,983 |  |  | $ | 7,599,460 |  |  | $ | 6,971,846 |  |  | $ | 7,638,094 |  |  | $ | 6,703,625 |
Return on average common equity (2) |  | (f)/(i) |  | 17.44 | % |  | 15.42 | % |  | 15.99 | % |  | 15.98 | % |  | 16.24 | %
Return on average TCE (2) |  | (g)/(j) |  | 18.48 | % |  | 16.39 | % |  | 17.08 | % |  | 16.97 | % |  | 17.40 | %
Adjusted return on average TCE (2) |  | (h)/(j) |  | 18.23 | % |  | 16.69 | % |  | 16.63 | % |  | 16.99 | % |  | 17.37 | %

(1)Applied statutory tax rate of 28.18% for the three and nine months ended September 30, 2025, and the three months ended June 30, 2025. Applied statutory tax rate of 29.56% for the three and nine months ended September 30, 2024.
(2)Annualized.
24