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2010 ANNUAL REPORT FURTHER EXPANDING OUR BRIDGE a MONUMENTAL YEAR in the HISTORY of EAST WEST BANK STOCKHOLDERS’ EQUITY (In Millions)

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2010 ANNUAL REPORT FURTHER EXPANDING OUR BRIDGE a MONUMENTAL YEAR in the HISTORY of EAST WEST BANK STOCKHOLDERS’ EQUITY (In Millions) EAST WEST BANCORP 2010 ANNUAL REPORT ANNUAL REPORT 2010 ACHIEVING NEW HEIGHTS Corporate Headquarters 135 N. Los Robles Avenue, Pasadena, CA 91101 626.768.6000 www.eastwestbank.com FURTHER EXPANDING OUR BRIDGE A MONUMENTAL YEAR IN THE HISTORY OF EAST WEST BANK STOCKHOLDERS’ EQUITY (in millions) $2,500 $2,000 $1,500 $1,000 $500 $— ACHIEVING NEW HEIGHTS 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Dear Shareholders, Customers and Friends, ACHIEVING NEW HEIGHTS IN ANY and 25% increase year over year, respectively. Additionally, Throughout 2010, East West Bank made substantial ENDEAVOR IS THE RESULT OF HARD WORK we strengthened our commercial- and international-trade- investments in people and technology, which are AND DEDICATION TO THE TASK AT HAND. focused platforms and grew our commercial and trade having a positive impact on our service levels and 2010 WAS A YEAR OF TRANSFORMATION finance loans by 32% to a record $2 billion. profitability. In addition to expanding our leadership ranks to include a number of seasoned commercial AND SUCCESS FOR EAST WEST BANK. Our capital strength and solid operating results allowed us bankers, we were pleased to promote Irene Oh to to fully exit the Troubled Asset Relief Program (TARP) WE DELIVERED SOLID FINANCIAL RESULTS executive vice president and chief financial officer. this past year without raising any new capital. East West AND REALIZED THE LARGEST AND Irene joined us in 2004 and served as senior Bank repurchased all $306.5 million of preferred stock STRONGEST NETWORK IN OUR vice president and director of corporate finance. issued in 2008 to the U.S. Treasury under TARP. Even after HISTORY, ONE THAT REACHES ACROSS Additionally, we welcomed two new members to our repayment of TARP, our capital levels remain very healthy. board of directors, Iris S. Chan and Paul H. Irving, THE CONTINENTAL U.S. AND INTO KEY As of December 31, 2010, our total risk-based capital ratio both of whom bring extensive banking and business LOCATIONS IN GREATER CHINA. was 17.5%—almost twice the regulatory requirement to be expertise to East West Bank. As the financial bridge between the east and the west, our considered a “well-capitalized” bank and substantially higher deepened international connections and expanded geographic than most of our peers. In summary, we can look back on 2010 with satisfaction and pride. We would like to extend footprint bring even greater opportunities for our customers—a It is this deep and expanding strength and stability that has our gratitude and thanks to our shareholders, customers significant competitive advantage over our peer banks. earned East West Bank a place on Fortune magazine’s list of and employees for your continued confidence, loyalty and Top 10 Stocks for 2011 and the ranking of “America’s #2 Our successes in 2010 included increasing our earnings support. As we embark on the next decade, we are better Our deepened Best Bank” by Forbes.com—and, more important, it is the each and every quarter—despite continued global economic positioned than ever to build on our dynamic banking “ reason we are confident in our ability to consistently deliver international challenges—and achieving our highest net income to date. platform across global markets and thereby provide strong solid financial results in the years ahead. We successfully completed the full integrations of two value to our customers and shareholders in the years ahead. connections and acquisitions—United Commercial Bank, acquired in late DEPOSIT AND LOAN GROWTH Sincerely, expanded geographic 2009, and Washington First International Bank (WFIB)— (in millions) and improved, streamlined and strengthened our entire footprint bring even banking platform. Acquiring the banking operations of $18,000 $16,000 greater opportunities WFIB in 2010 helped to fortify our presence in the greater $14,000 Dominic Ng Seattle area and bolstered our efforts to better serve our $12,000 for our customers—a $10,000 Chairman of the Board and Chief Executive Officer customers in that region. $8,000 significant competitive $6,000 We finished 2010 with net earnings of $165 million, a $4,000 advantage over our 115% increase over 2009, or $0.83 per diluted share. In $2,000 $— peer banks. addition, our total deposits grew to a record $15.6 billion, 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 ” while our core deposits grew to a record $8.9 billion, a 4% LOANS DEPOSITS EWBC 2 0 10 | 3 OVER THE PAST 38 YEARS, EAST WEST BANK HAS GROWN FROM A LOCAL COMMUNITY THE BANK WITH SEVEN EMPLOYEES TO A FULL- INTEGRITY SERVICE COMMERCIAL BANK WITH MORE THAN 130 LOCATIONS WORLDWIDE. OF OUR Today we are one of the fastest-growing banks in the nation. BRIDGE Among publicly traded U.S. banks, East West Bank is the second- largest bank headquartered in Southern California and among the 30 largest banks in the country—supported by a loyal base of over 300,000 customers. As we expand our strength and capabilities to serve our growing local and global audience, we have steadfastly maintained the values that have always defined us. From day one, through good and bad economic cycles, the character of our people has formed the foundation of East West Bank’s success. We champion integrity, honesty, respect, fairness and professionalism—values that we will not sacrifice for short-term advantage or profit. We are a diverse community of more than 2,200 employees devoted to achieving excellence in financial services and doing what is in the best interests of our shareholders and customers. As East West Bank continues to achieve new heights, the integrity of our diverse human bridge is constantly being reinforced to bring more talents, strengths and perspectives to help our customers reach their financial goals and succeed. EWBC 2 0 10 | 5 Solar Panels IN AN INCREASINGLY COMPETITIVE GLOBAL MARKETPLACE, CONTINUED SUCCESS OUR BRIDGE: DEPENDS UPON BEING ABLE TO RESPOND A FLEXIBLE QUICKLY TO CHANGING MARKET CONDITIONS. AS EAST WEST BANK HAS PASSAGE GROWN IN SIZE AND STATURE, WE HAVE REMAINED AGILE. OUR MANAGEMENT TEAM TO NEW HAS THE DRIVE AND FLEXIBILITY TO EXPLORE NEW TRENDS AND OPPORTUNITIES OPPORTUNITIES IN THE MARKETPLACE AND THE EXPERTISE TO QUICKLY ANALYZE RISKS. This agility is one of our core strengths. It is a clear strategic advantage that benefits our customers as we strive to meet their changing business needs and prepare them for further growth. For example, by focusing on the solar energy sector before most of our peers, we developed an in-depth knowledge of the industry that enables our team of relationship bankers to bring expertise to customers seeking to do business in this growing market— and to demonstrate East West’s respect for the environment. So when a San Diego-based company that specializes in solar engineering, design and installation partnered with a leading industrial manufacturer headquartered in Taiwan, East West Bank was well equipped to understand the many strategic advantages this company has. As the financial bridge between the east and the west, we had the local knowledge to evaluate the credit and risk potential of the company in Taiwan and provide a loan in the U.S. to allow the company to complete eight large solar projects in Southern California. Additionally, East West Bank now serves the banking needs of the eight solar panel project customers in Southern California as well as those of the mainland China subsidiaries of the Taiwan manufacturer. These solar projects benefited two community colleges, a hospital and a number of water and power departments— all of which were able to significantly reduce their energy costs and redirect former energy expenditures to other, more meaningful opportunities within their organizations. EWBC 2 0 10 | 7 Silicon Valley company that East West Bank’s understanding provide a loan to support the has serviced semiconductor of the often complex nature of company’s new manufacturing equipment on a global scale the companies that emerge from site and help with the challenges since 2006—decided to Silicon Valley, coupled with our that can often arise in the first We combine our in-depth expand its business model multicultural relationship bank- year of a new operation. Today, industry knowledge with our to include the manufacturing ing team’s firsthand knowledge the company is thriving and has local and global connections of components for the of how to conduct business in already quadrupled its revenue to help our customers achieve semiconductor and solar Vietnam, allowed us to do what from that first year. EAST WEST BANK CONCENTRATED ON new business heights. One of energy industries at a facility most other U.S. banks would not THE our customers—a successful in Vietnam. have had the expertise to do— ACHIEVING SUSTAINABLE AND EXPANDABLE STRENGTH GROWTH AND PROFITS IN 2010. OUR STRONG FINANCIAL PERFORMANCE FOR THE YEAR, Semiconductor Equipment Services OF OUR TOGETHER WITH OUR LARGEST BRANCH NETWORK TO DATE, WIDENED OUR DELIVERY BRIDGE CHANNELS AND ENABLED US TO REACH A NEW LEVEL OF STRENGTH AND STABILITY. In 2010, we reported record earnings of $165 million, a 115% increase over the previous year and a direct result of the strength of our balance sheet. We grew our core deposits by 25% to a record $8.9 billion, and our total assets increased to $20.7 billion. Our total risk-based capital ratio at year-end was a healthy 17.5%—almost twice the regulatory requirement to be considered a “well-capitalized” bank and substantially higher than most of our peers. East West Bank received consistently high ratings throughout the year by numerous independent agencies that evaluate banks and savings institutions in the U.S., further underscoring our institutional strength.
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