www.eastwestbank.com 626.768.6000 135 N.Los Robles Avenue, Pasadena, CA 91101 Corporate Headquarters

ACHIEVING NEW HEIGHTS REPORT ANNUAL 2010 BANCORP WEST EAST

2010 ANNUAL REPORT FURTHER EXPANDING OUR BRIDGE A MONUMENTAL YEAR IN THE HISTORY OF EAST WEST 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, 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 . 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 . 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—, acquired in late DEPOSIT AND LOAN GROWTH Sincerely, expanded geographic 2009, and 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 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 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 , 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 . 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. We were rated “Superior” by IDC Financial Publishing, an independent agency that evaluates all banks and savings institutions in the U.S. In addition, our solid position in the marketplace was noted by Fortune magazine, which named East West Bank one of its Top 10 Stocks for 2011, and by Forbes.com, which honored East West Bank with the ranking of “America’s #2 Best Bank.”

CAPITAL STRENGTH

25.0% 19.8% 20.0% 17.9% 17.5% 15.7% 15.8% 15.0% 13.8% 12.4%11.7% 10.0% 10.0% 9.3% 5.0% 6.0% 5.0%

0.0% TIER 1 TIER 1 TOTAL LEVERAGE RISK BASED RISK BASED CAPITAL RATIO CAPITAL RATIO CAPITAL RATIO WELL CAPITALIZED EAST WEST 12/31/08 EAST WEST 12/31/09 EAST WEST 12/31/10

EWBC 2 0 10 | 9 When an animated motion prove very difficult. On the picture company from China advice of its bank in China, the wanted to expand to Hollywood, studio called East West—and California, East West Bank was everything came together. East sought out as a trusted advisor. West’s innate understanding the motion picture company Despite the company’s success of Chinese companies with gain its foothold in the U.S. and overseas, it was concerned that cross-border business objectives achieve its dream of setting up EVEN AS EAST WEST BANK EMBRACES without any previous credit enabled us to quickly provide shop in Hollywood. EXPANDING history in the U.S., finding a local practical advice and tailored THE CHANGES THAT COME WITH A bank to partner with would financial solutions to help GROWING PRESENCE IN THE GLOBAL THE POWER ECONOMY, OUR LOYALTY AND SERVICE TO OUR NICHE MARKET ARE EVEN MORE OF OUR ENRICHED. OUR EXPANDING STRENGTH AND INCREASED FOOTPRINT HAVE ONLY GLOBAL SERVED TO AUGMENT THE ACCESS, SPEED AND FLEXIBILITY OUR CUSTOMERS HAVE NETWORK COME TO RELY ON.

With over 130 locations worldwide, our domestic presence spans the and encompasses all the major Chinese- American communities in the country, including California, , , , and Washington. In Greater China, our locations include full-service branches in , and , and representative offices in , , and . Strengthening Our Bridge Capabilities As Greater China and the Pacific Rim countries continue to emerge as increasingly important constituents of the global economy, East West Bank is a natural leader that can connect U.S. customers to new opportunities in this strategically significant region. Our bridge strategy allows our customers to capitalize on the strength of our position in the marketplace. Our extensive network of contacts and resources in Greater China provides them with invaluable access to investors, manufacturers and importers. And our innate understanding of the cultural and business practices on both sides of the Pacific enables us to guide them smoothly through complex business and financial landscapes so they can take their global business ventures to new heights.

Animated Motion Picture Company

EWBC 2 0 10 | 11 program at La Casa de San including how to open and use new financial confidence we Gabriel Community Center, checking and savings accounts, have helped to instill in many a family resource center that how to establish and maintain of our low-income community serves the economically good credit and how to apply members—and we look forward East West Bank understands disadvantaged members of the and qualify for car loans and to our continued partnership that financial literacy can help multicultural community in the mortgages. We are proud of the with La Casa. foster financial stability for . Conducted individuals, families and in Spanish, these financial “East West Bank’s outreach to our families has helped to dispel fears WITH STRENGTH COMES RESPONSIBILITY. communities. Since 2007, we education classes explore a and instill a level of trust in the banking system. The practical nature EMPOWERING have offered a Basic Banking range of basic banking topics, of the classes allows participants to look more critically at how they AS EAST WEST BANK HAS GROWN STRONGER, handle money and how that affects the way they live.” WE HAVE ALSO STRENGTHENED OUR —Cheryl Prentice, Director, La Casa de San Gabriel Community Center AND COMMITMENT TO MAKING A DIFFERENCE CONNECTING IN THE COMMUNITIES WE SERVE. IN ADDITION TO OFFERING A WIDE RANGE OUR OF FINANCIAL SERVICES TO OUR COMMUNITIES, WE CONTRIBUTE TO COMMUNITIES FURTHERING COMMUNITY DEVELOPMENT BY HELPING THE UNDERSERVED, FOSTERING ECONOMIC LITERACY AND ADVANCING ENVIRONMENTAL SUSTAINABILITY.

We support a wide range of programs and services that empower, connect and celebrate the vibrantly diverse communities where we live and work.

Giving Back to the Community For the past 15 years, East West Bank has actively partnered with United Way. We supported the Individual Development Accounts program, which helped low-income individuals save for the future with a matched savings contribution that can be used to purchase a first home, to capitalize a small business, or for educational or job-training expenses. To support United Way’s “Creating Pathways Out of Poverty” initiative, we also organized an employees’ donation campaign for more than 10 years and raised more than $5 million. And for the past three years, hundreds of employees have participated in United Way’s Home Walk, helping to raise funds toward the support of homelessness organizations in our communities.

Helping the Underserved We support a broad spectrum of organizations that provide educational, social and support services to the underserved in our communities, including the Opportunity Fund, which offers microfinance loans, micro-savings accounts and affordable housing financing to struggling families in the Bay area. In a bank-wide effort to reach out to the unbanked segment of the population, East West Bank partnered with local government and regulatory agencies in a series of public-private joint Home Walk 2010 ventures. East West Bank has participated in “Bank On” >

EWBC 2 0 10 | 13 > programs throughout the U.S., including the cities of San Francisco, Oakland, San Jose, Sacramento, Seattle, BUILDING and New York. The “Bank On” initiative helps unbanked individuals open starter bank accounts and enter the financial BRIDGES TO mainstream, encouraging these individuals to save, protect their money and build a credit history. BETTER

Fostering Economic Literacy TOMORROWS We understand that financial literacy is fundamental to self- sufficiency. For the past three years, East West Bank has partnered with Mexican American Legal Defense Educational Fund, Urban League and Asian Pacific American Legal Center on financial literacy programs that target youths in low- to moderate-income households in our communities. With our support, each organization offers financial education through a curriculum that includes learning the value of money, developing positive spending habits, understanding how to manage money and credit, and setting personal financial goals.

We also support financial literacy initiatives with organizations such as La Casa de San Gabriel Community Center, which offers financial education and basic banking services for the unbanked and underbanked, furnishing them with the opportunity to enter the financial mainstream. In addition, we support the Greater Jamaica Development Corporation, which provides economic and community development through job creation. And East West Bank employees volunteer to teach financial literacy to K–12 students in low-income areas through the Junior Achievement and Operation Hope programs.

Advancing Environmental Sustainability East West Bank is committed to protecting the environment and educating our communities on the importance of preserving natural resources. Through our continued partnership with Southern California Edison and the Go Green Initiative, we conduct training workshops for small business owners to enable wise energy management and energy efficient choices. We cohosted the 2010 Global Green Strategies Conference in Southern California, providing local businesses with tips, rebates and incentives for participating in programs that promote energy efficiency. And in partnership with the Los Angeles Lakers, we sponsored the “My Better Lifestyle Award,” which recognizes individual or group efforts in recycling, energy conservation, waste management and renewable resources.

EWBC 2 0 10 | 15 DESERT COMMUNITY BANK IS A DIVISION BEST OF EAST WEST BANK THAT DELIVERS HOMETOWN OUR VISION, VALUES, PRODUCTS AND SERVICES TO THE HIGH DESERT BANK COMMUNITIES OF SAN BERNARDINO COUNTY IN SOUTHERN CALIFORNIA. For nearly 30 years, Desert Community Bank has provided unmatched levels of customer service in a hometown atmosphere —where customers bank among friends and neighbors, have access to local decision makers and enjoy the benefits of the Bank’s community activism.

Local Connections, Global Strength Voted “Best Hometown Bank” for many years, Desert Community Bank holds the highest market share in the communities it serves. Since acquiring Desert Community Bank in 2007, we have been committed to ensuring that Desert Community Bank customers retain all the benefits of a local bank while enjoying the strength and stability that comes with being part of the East West Bank global family.

Bridging the Needs of Our Community At Desert Community Bank, our dedication to building strong communities remains steadfast. We support events and organizations that enrich our customers’ daily lives, including education and youth programs, arts and cultural programs, and social causes. Our employees take pride in being active community participants—and have adopted a dynamic, “strength in numbers” volunteerism philosophy that expresses their commitment to the continued growth and prosperity of our communities.

Signature charitable organizations and events supported by Desert Community Bank include United Way, March of Dimes, Hispanic Chamber of Commerce’s Cinco de Mayo celebration and High Desert Opportunity, an event that showcases local businesses and development opportunities for new and expanding businesses. In addition, our nine branch managers also volunteer their time by serving on the local boards of numerous community service organizations, including hospital foundations, school foundations, chambers of commerce, Desert Communities United Way and the American Red Cross.

EWBC 2 0 10 | 17 MEET THE DYNAMIC AND DIVERSE GROUP Julia S. Gouw Herman Y. Li BOARD OF OF PEOPLE THAT MAKE UP OUR BOARD President and Chief Operating Officer, East West Bank Chairman, C&L Restaurant Group, Inc. OF DIRECTORS. THEY BRING A WEALTH OF Julia S. Gouw is president and chief operating officer of , Herman Y. Li is chairman of the C&L Restaurant Group, Inc., a franchisee of DIRECTORS Inc., and East West Bank, coming out of retirement after only one year to assist Burger King and Denny’s in multiple states. Mr. Li is president of the Burger EXPERIENCE AND WISDOM TO EAST WEST East West Bank in its landmark acquisition of United Commercial Bank in King Asian Franchisee Association and a member of the Diversity Action BANK, HELPING US ACHIEVE NEW HEIGHTS November 2009. Ms. Gouw served as executive vice president of East West Council of the Burger King Corporation. He also serves as a board member YEAR AFTER YEAR. Bancorp, Inc., and East West Bank until her retirement at the end of 2008, for Restaurant Services, Inc., a Burger King System Independent Purchasing serving as chief financial officer until April 2008 and as chief risk officer and Distribution Service Co-op. Mr. Li is a member of the Committee of 100. Iris S. Chan from April 2008 through the end of 2008. Prior to joining East West in Chief Executive Officer, Ameriway, Inc. 1989, Ms. Gouw spent over five years as a CPA at KPMG LLP. Ms. Gouw was Jack C. Liu, Esq. Iris S. Chan is a former executive vice president and group head of Wells ranked among the top 10 bank CFOs in the nation by U.S. Banker magazine Alliance International Law Office Fargo’s National Commercial Banking Group and was a member of the in January 2006. Ms. Gouw serves on the boards of Pacific Mutual Holding Jack C. Liu, Esq., is a senior attorney with Alliance International Law Offices. management committee. She served on the board of directors of the Wells Company and Pacific LifeCorp. Prior to that, Mr. Liu was senior advisor for Morgan Stanley International Iris S. Chan Peggy Cherng Rudolph I. Estrada Fargo HSBC Trade Bank, N.A., and various nonprofit boards. Prior to her Real Estate Fund (MSREF) and was president of MSREF’s affiliates, New 20-plus years with Wells Fargo, Iris held various management positions with Paul H. Irving Recovery Asset Management Corp. Mr. Liu is admitted to practice law in Citicorp and Bank of America. Throughout her career, Iris has received various Senior Managing Director and Chief Operating Officer, the jurisdictions of California and Washington, D.C. His legal expertise is in awards and recognition for her work. In 2007 and 2008, she was named Milken Institute international corporate, real estate and banking. one of the “25 Most Powerful Women in Banking” by U.S. Banker magazine. Paul H. Irving is senior managing director, chief operating officer and member of the board of the Milken Institute, a nonprofit, nonpartisan, publicly Dominic Ng Peggy Cherng supported think tank. He previously served as an Advanced Leadership Fellow Chairman and Chief Executive Officer, East West Bank Co-Chair and Co-Chief Executive Officer, at Harvard University and as co-chairman, chief executive officer, member Dominic Ng is chairman of the board and chief executive officer of East Panda Restaurant Group of the board, chairman of the financial services group, and corporate and West Bancorp, Inc., and East West Bank. Prior to taking the helm of East Julia S. Gouw Paul H. Irving Andrew S. Kane Peggy Cherng is co-chair and co-CEO of Panda Restaurant Group, which banking partner at Manatt, Phelps & Phillips, LLP, a national law and West in 1992, Mr. Ng was president of Seyen Investment, Inc., and spent includes more than 1,300 restaurants in the United States and Puerto Rico. consulting firm. Mr. Irving has served as an adjunct professor at Loyola Law over a decade as a CPA with Deloitte & Touche, LLP, in Los Angeles and Dr. Cherng holds a Ph.D. in electrical engineering and serves on the boards School, Los Angeles, and was recognized by the Best Lawyers in America Houston. Mr. Ng serves on the board of directors of Mattel, Inc. (NYSE: MAT), of Methodist Hospital of Southern California, Children’s Hospital Los Angeles and named a California Super Lawyer. as well as on a number of nonprofit and civic boards. He is a past member and UCLA Anderson School of Management. of the board of directors of the Federal Reserve Bank of San Francisco, Andrew S. Kane, OBE Los Angeles Branch. Rudolph I. Estrada Chief Operating Officer and Chief Financial Officer, President and Chief Executive Officer, Advantage Fitness Products Keith W. Renken Estradagy Business Advisors John Lee Herman Y. Li Jack C. Liu Andrew S. Kane, OBE, FCA, CPA (inactive), is president of ASK Business Managing Partner, Renken Enterprises Rudolph I. Estrada has over 35 years of banking and business experience Consulting LLC and was for many years a managing partner at Arthur Keith W. Renken is a former senior managing partner of Deloitte & Touche, and is a former presidential appointee serving as commissioner on the White Andersen and subsequently CEO for HSBC Private Bank in Southern California LLP, Southwest Region, from which he retired in 1992. After that, he was a House Commission on Small Business. He also served as the Los Angeles and CFO/COO of AFP International LLC. Mr. Kane has served on many civic professor in the University of Southern California graduate program in the district director for the U.S. Small Business Administration. Mr. Estrada is and community boards, including Greater Los Angeles United Way. In 1998, school of accounting for 14 years. He is currently the managing partner of president and CEO of Estradagy Business Advisors, a business and banking he was awarded the Order of the British Empire (OBE) by Her Majesty Renken Enterprises, which provides management consulting to real estate advisory group, and serves as a professor of business and economics with Queen Elizabeth II. operations and consulting to growth companies. He also serves on various the California State University system. He serves on the boards of several for-profit private and public corporations and several nonprofit organizations. corporate and nonprofit organizations. John Lee Dominic Ng Keith W. Renken Vice Chair, East West Bank John Lee is vice chairman of the board of East West Bancorp, Inc., and East West Bank. Mr. Lee cofounded Standard Bank in 1980, served as chairman, president and CEO—a $923-million-asset federal savings bank acquired by East West. Mr. Lee was the first general manager of East West Bank in the District of Los Angeles. Mr. Lee is active in a variety of philanthropic activities and is an avid supporter of education in Chinese art and culture.

EWBC 2 0 10 | 19 East West Bancorp, Inc., and Subsidiaries

Five-Year Summary of Selected Financial Information (in thousands, except per share data) 2010 2009 2008 2007 2006 SUMMARY OF OPERATIONS Interest and dividend income $ 1,095,831 $ 722,818 $ 664,858 $ 773,607 $ 660,050 INVESTOR Interest expense 201,117 237,129 309,694 365,613 292,568 Net interest income 894,714 485,689 355,164 407,994 367,482 Provision for loan losses 200,159 528,666 226,000 12,000 6,166 INFORMATION Net interest income (loss) after provision for loan losses 694,555 (42,977) 129,164 395,994 361,316 Noninterest income (loss) 39,270 390,953 (25,062) 49,520 33,920 Common Stock and Dividends Stock Transfer Statement Noninterest expense 477,916 243,254 201,270 183,255 161,455 East West Bancorp, Inc., common stock trades on the Nasdaq Shareholders with inquiries about accounts, lost ticket certificates Income (loss) before provision (benefit) for income taxes 255,909 104,722 (97,168) 262,259 233,781 Global Select Market under the symbol EWBC. As of December or changes of address may contact the BNY Mellon Shareowner Provision (benefit) for income taxes 91,345 22,714 (47,485) 101,092 90,412 Net income (loss) before extraordinary item 164,564 82,008 (49,683) 161,167 143,369 31, 2010, there were 148,542,940 shares of common stock issued Services customer service department by calling 877-254-8651, Extraordinary item, net of tax — (5,366) — — — and outstanding. available 24 hours. Written correspondence may be sent to the Net income (loss) $ 164,564 $ 76,642 $ (49,683) $ 161,167 $ 143,369 following address: The following table sets forth the range of closing sales prices for Preferred stock dividends, amortization of preferred stock discount and inducement of preferred stock conversion 43,126 49,115 9,474 — — the Company’s common stock for each of the quarters in the two BNY Mellon Shareowner Services NET INCOME (LOSS) AVAILABLE years ended December 31, 2010: 480 Washington Boulevard TO COMMON STOCKHOLDERS $ 121,438 $ 27,527 $ (59,157) $ 161,167 $ 143,369 Jersey City, 07310 Per Common Share YEAR ENDED DECEMBER 31: 2010 2009 Financial Information and Mailings Basic earnings (loss) per share $ 0.88 $ 0.35 $ (0.94) $ 2.63 $ 2.40 HIGH LOW HIGH LOW Diluted earnings (loss) per share $ 0.83 $ 0.33 $ (0.94) $ 2.60 $ 2.35 You may obtain the Company’s annual reports on Form 10-K, Common dividends per share $ 0.04 $ 0.05 $ 0.40 $ 0.40 $ 0.20 FIRST QUARTER $19.25 $15.19 $16.04 $3.24 quarterly financial results and other financial information by Average number of shares outstanding, basic 137,478 78,770 62,673 61,180 59,605 SECOND QUARTER $20.15 14.98 10.14 4.56 writing or calling: Average number of shares outstanding, diluted 147,102 84,523 62,673 62,093 60,909 THIRD QUARTER $17.94 14.22 10.92 5.80 At Year End: East West Bancorp, Inc. Total assets $ 20,700,537 $ 20,559,212 $ 12,422,816 $ 11,852,212 $ 10,823,711 FOURTH QUARTER $19.94 16.04 17.19 8.24 Investor Relations Loans receivable 8,430,199 8,218,671 8,069,377 8,750,921 8,182,172 135 N. Los Robles Avenue, 7th Floor Covered loans 4,800,876 5,598,155 — — — Pasadena, California 91101 Investment securities 2,875,941 2,564,081 2,162,511 1,887,136 1,647,080 East West quarterly cash dividends on common stock, when and Deposits 15,641,259 14,987,613 8,141,959 7,278,914 7,235,042 626-768-6000 if declared by the board of directors, are distributed in February, Federal Home Loan Bank advances 1,214,148 1,805,387 1,353,307 1,808,419 1,136,866 May, August and November. Alternatively, Company information and news releases are Stockholders’ equity 2,113,931 2,284,659 1,550,766 1,171,823 1,019,390 Common shares outstanding 148,543 109,963 63,746 63,137 61,431 also available at www.eastwestbank.com. To receive company Book value per common share $ 13.67 $ 14.37 $ 16.92 $ 18.56 $ 16.59 Annual Meeting news releases via e-mail, please contact Investor Relations at The 2011 Annual Meeting of Shareholders will be held at Financial Ratios: the telephone number or address above. Return on average assets 0.82 % 0.55 % (0.42) % 1.45 % 1.46 % 2:00 p.m. Pacific Daylight Time on Tuesday, May 24, 2011, at: Return on average common equity 6.42 2.37 (5.41) 14.89 15.78 Return on average total equity 7.02 4.69 (3.99) 14.89 15.78 East West Bank Corporate Headquarters Common dividend payout ratio 4.57 13.03 N/A 15.27 8.35 135 N. Los Robles Avenue, 6th Floor Average stockholders’ equity to average assets 11.62 11.81 10.55 9.77 9.26 Pasadena, California 91101 Net interest margin (1) 4.25 3.52 3.19 3.94 3.98 Efficiency ratio 52.90 48.64 45.94 37.44 37.07 Formal notice of the meeting with a proxy card and proxy Asset Quality Ratios: statement is being mailed to all shareholders of record as of Net chargeoffs (recoveries) to average non-covered loans 2.35 % 5.69 % 1.64 % 0.08 % (0.01) % March 31, 2011. Nonperforming assets to total assets 0.94 0.91 2.12 0.57 0.18 Allowance for loan losses to total gross non-covered loans 2.64 2.81 2.16 1.00 0.95 The proxy statement, annual report on Form 10-K and proxy card are available on the Internet at the “Investor Relations (1) See reconciliation of non-GAAP measure to GAAP measure on our Form 10-K filed on March 1, 2011. —Electronic Literature” section of our corporate website at: www.eastwestbank.com.

EWBC 2 0 10 | 2 1 East West Bancorp, Inc., and Subsidiaries East West Bancorp, Inc., and Subsidiaries

Consolidated Balance Sheet (in thousands, except share data) Condensed Consolidated Statements of Income (in thousands, except per share data) December 31, 2010 2009 Year Ended December 31, 2010 2009 2008 Cash and cash equivalents $ 1,333,949 $ 1,099,084 INTEREST AND DIVIDEND INCOME $ 1,095,831 $ 722,818 $ 664,858 Short-term investments 143,560 246,845 Securities purchased under resale agreements 500,000 227,444 INTEREST EXPENSE 201,117 237,129 309,694 Investment securities available for sale, at fair value (with amortized cost of $2,900,410 at NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 894,714 485,689 355,164 December 31, 2010, and $2,563,043 at December 31, 2009) 2,875,941 2,564,081 Provision for loan losses 200,159 528,666 226,000 Loans held for sale, at fair value 220,055 28,014 Loans receivable, excluding covered loans (net of allowance for loan losses of $230,408 at NET INTEREST INCOME (LOSS) AFTER PROVISION FOR LOAN LOSSES 694,555 (42,977) 129,164 December 31, 2010, and $238,833 at December 31, 2009) 8,430,199 8,218,671 NONINTEREST INCOME (LOSS) Covered loans (net of allowance for loan losses of $4,225 at December 31, 2010) 4,800,876 5,598,155 Gain on acquisition 22,874 471,009 — Total loans receivable, net 13,231,075 13,816,826 Impairment loss on investment securities (16,669) (107,671) (73,165) FDIC indemnification asset 792,133 1,091,814 Decrease in FDIC indemnification asset and receivable (83,213) (23,338) — Other real estate owned, net 21,865 13,832 Branch fees 32,634 22,326 16,972 Other real estate owned covered, net 123,902 44,273 Net gain on sales of investment securities 31,237 11,923 9,005 Total other real estate owned 145,767 58,105 Letters of credit fees and commissions 11,816 8,338 9,739 Investment in Federal Home Loan Bank stock, at cost 162,805 180,217 Ancillary loan fees 8,526 6,286 4,646 Investment in Federal Reserve Bank stock, at cost 47,285 36,785 Income from life insurance policies 4,083 4,368 4,151 Investment in affordable housing partnerships 155,074 84,833 Net gain on sales of loans 18,515 — 2,275 Premises and equipment, net 135,919 59,099 Other operating income (loss) 9,467 (2,288) 1,315 Accrued interest receivable 82,090 82,370 Total noninterest income (loss) 39,270 390,953 (25,062) Due from customers on acceptances 73,796 40,550 Premiums on deposits acquired, net 79,518 89,735 NONINTEREST EXPENSE Goodwill 337,438 337,438 Compensation and employee benefits 170,052 79,475 82,236 Cash surrender value of life insurance policies 103,048 98,552 Occupancy and equipment expense 52,073 30,218 26,991 Other assets 281,084 417,420 Amortization of investments in affordable housing partnerships 10,032 7,450 7,272 TOTAL $ 20,700,537 $ 20,559,212 Amortization and impairment writedowns of premiums on deposits acquired 13,283 5,895 7,270 Deposit insurance premiums and regulatory assessments 25,201 28,073 7,223 LIABILITIES AND STOCKHOLDERS’ EQUITY Loan-related expenses 21,070 7,580 6,373 Customer deposit accounts: Other real estate-owned expense 61,568 19,104 6,013 Non-interest-bearing $ 2,676,466 $ 2,291,259 Legal expense 19,577 8,024 5,577 Interest-bearing 12,964,793 12,696,354 Prepayment penalty for FHLB advances 13,832 2,370 — Total deposits 15,641,259 14,987,613 Data processing 10,615 5,641 4,494 Federal Home Loan Bank advances 1,214,148 1,805,387 Deposit-related expenses 4,750 3,909 4,414 Securities sold under repurchase agreements 1,083,545 1,026,870 Consulting expense 7,984 8,135 4,398 Notes payable and other borrowings 60,686 74,406 Other operating expenses 67,879 37,380 39,009 Bank acceptances outstanding 73,796 40,550 Total noninterest expense 477,916 243,254 201,270 Long-term debt 235,570 235,570 Accrued expenses and other liabilities 277,602 104,157 INCOME (LOSS) BEFORE PROVISION (BENEFIT) FOR INCOME TAXES 255,909 104,722 (97,168) Total liabilities 18,586,606 18,274,553 PROVISION (BENEFIT) FOR INCOME TAXES 91,345 22,714 (47,485) STOCKHOLDERS’ EQUITY NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEMS 164,564 82,008 (49,683) Preferred stock, $0.001 par value, 5,000,000 shares authorized; Series A, non-cumulative convertible, 200,000 shares issued and 85,741 shares outstanding in 2010 and 2009; Extraordinary item, net of tax — (5,366) — Series B, cumulative, 306,546 shares issued and outstanding in 2009; Series C, NET INCOME (LOSS) AFTER EXTRAORDINARY ITEMS 164,564 76,642 (49,683) cumulative convertible, 335,047 shares issued and outstanding in 2009. 83,058 693,803 PREFERRED STOCK DIVIDENDS, AMORTIZATION OF PREFERRED STOCK Common stock, $0.001 par value, 200,000,000 shares authorized; 155,743,241 and 116,754,403 DISCOUNT AND INDUCEMENT OF PREFERRED STOCK CONVERSION 43,126 49,115 9,474 shares issued in 2010 and 2009, respectively; 148,542,940 and 109,962,965 shares outstanding in 2010 and 2009, respectively. 156 117 NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ 121,438 $ 27,527 $ (59,157) Additional paid in capital 1,434,277 1,091,047 EARNINGS (LOSS) PER SHARE AVAILABLE TO COMMON STOCKHOLDERS Retained earnings 720,116 604,223 BASIC $ 0.88 $ 0.35 $ (0.94) Treasury stock, at cost—7,200,301 shares in 2010 and 6,791,438 shares in 2009 (111,262) (105,130) DILUTED $ 0.83 $ 0.33 $ (0.94) Accumulated other comprehensive income (loss), net of tax (12,414) 599 DIVIDENDS DECLARED PER COMMON SHARE $ 0.04 $ 0.05 $ 0.40 Total stockholders’ equity 2,113,931 2,284,659 TOTAL $ 20,700,537 $ 20,559,212 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING BASIC 137,478 78,770 62,673 DILUTED 147,102 84,523 62,673

EWBC 2 0 10 | 2 3 LOCATIONS UNITED STATES UNITED STATES ASIA OFFICES

Corporate Headquarters Georgia Full-Service Branches 135 North Los Robles Avenue, 7th Floor Palos Verdes Sacramento Hong Kong Pasadena, CA 91101 626-768-6000 27421 Hawthorne Boulevard 310-544-1556 4790 Freeport Boulevard 916-736-2646 4360 Chamblee Dunwoody Road 770-454-4755 29/F Gloucester Tower, The Landmark Southern California Pasadena San Francisco 2727 Paces Ferry Road, Suite 150 770-432-1000 Southern California 15 Queen’s Road C, Central, Hong Kong 135 North Los Robles Avenue, Suite 100 626-768-6088 3601 Balboa Street 415-668-3700 3490 Shallowford Road 770-455-1772 852-2218-9000 Alhambra Adelanto 498 Clement Street 415-668-6888 Duluth Shanghai† 1881 West Main Street 626-308-2012 Rosemead 10474 Rancho Road 760-246-3451 4355 Geary Boulevard 415-750-2800 2540 Pleasant Hill Road 678-417-7572 30/F Jin Mao Tower 403 West Valley Boulevard 626-576-7447 8168 East Garvey Avenue 626-572-4633 5501 Geary Boulevard 415-933-6128 Apple Valley 88 Century Boulevard 1211 East Valley Boulevard 626-570-8706 8632 East Valley Boulevard 626-288-8899 Norcross 1066 Grant Avenue 415-391-1450 16003 Quantico Road 760-242-1123 Shanghai 200121, China Arcadia Rowland Heights 3280 Holcomb Bridge Road NW 770-582-0705 2219 Irving Street 415-566-8100 Barstow 86-21-5049-9999 901 South Baldwin Avenue 626-447-8890 17458 Colima Road, Suite 106-9 626-935-0789 900 Kearny Street 415-397-8988 Massachusetts 945 East Armory Road 760-252-2130 Shantou† 18458 Colima Road 626-854-0070 1130 South Baldwin Avenue 626-254-8999 555 Montgomery Street 415-391-8912 Allston 200 East Duarte Road 626-821-4988 19267 Colima Road 626-810-8938 Dunia Plaza 1502 Hua Qiao Commercial Bank Building 1301 Noriega Street 415-665-7423 230 Harvard Avenue 617-738-1717 19756 Colima Road 909-869-7838 12022 Dunia Road 760-948-8054 127 East Jin Sha Road Artesia 2533 Noriega Street 415-681-5333 1015 South Nogales Street, Suite 102 626-965-6861 Shantou 515041, China 17801 Pioneer Boulevard, Suite I & J 562-860-7444 1241 Stockton Street 415-433-1533 Hesperia 68 Harrison Avenue 617-338-0290 86-754-8899-0001 Beverly Hills San Gabriel 1301 Stockton Street 415-989-4088 15479 Main Street 760-244-2924 140 West Valley Boulevard, Suite 101 626-288-8688 Quincy 450 North Roxbury Drive, Suite 101 310-888-8865 711 Van Ness Avenue 415-929-6070 Phelan Representative Offices 301 West Valley Boulevard 626-308-1986 743 Washington Street 415-421-5215 219 Quincy Avenue 617-328-8818 Carson 4895 Phelan Road 760-868-5143 Beijing San Marino San Jose 510 West Carson Street 310-533-1456 New York Victorville Drive-Up Room 609, Block 1 805 Huntington Drive 626-799-1132 1728 Hostetter Road, Suite 10 408-392-0092 Bright China Chang An Building Century City Brooklyn 12470 Hesperia Road 760-245-8554 2090 Huntington Drive 626-457-1333 1715 Lundy Avenue, Suite 138 408-453-8877 No.7 Jianguomen Nei Avenue 1900 Avenue of the Stars 310-712-0044 5801 8th Avenue 718-435-1288 Victorville Main Silver Lake 1001 Story Road, Suite 130 408-279-0668 Dong Cheng District Cerritos 1322-1328 718-998-2218 12530 Hesperia Road 760-245-8554 2496 Glendale Boulevard 323-667-9003 1648-A Tully Road 408-270-1500 Beijing 100005, China 11812 East South Street 562-924-8222 Flushing Victorville North 86-10-6510-1551 South Pasadena San Mateo City of Industry 41-80 Main Street, Suite 104 718-661-2880 14800 La Paz Drive 760-245-8478 1001 Fair Oaks Avenue 323-682-3831 491 South El Camino Real 650-340-1660 Guangzhou 1680 South Azusa Avenue 626-913-8983 27 East Fourth Avenue 650-375-8880 38-05 Union Street 718-961-4966 Wrightwood 1303 CITIC Plaza Tarzana 18645 East Gale Avenue, Suite 100 626-854-8600 2996-A South Norfolk Street 650-627-9899 1261 Highway 2 760-249-3663 233 Tian He Bei Road 18321 Ventura Boulevard 818-774-2666 Diamond Bar Stockton 77 Bowery 212-966-3303 Guangzhou 510613, China Temple City ATM-Only Locations 379 South Diamond Bar Boulevard 909-861-3676 8002 North West Lane 209-473-8698 131 Bowery 212-625-8866 86-20-3891-2301 5607 North Rosemead Boulevard 626-287-0421 Phelan Towne Square 1132 South Diamond Bar Boulevard 909-612-1688 27 East Broadway Street 212-962-2798 Shenzhen In-Store Branches — 206-208 Canal Street 212-680-1388 3936 Phelan Road, Phelan El Monte Torrance Unit 4515, Shun Hing Square 23737 Hawthorne Boulevard 310-791-2800 Silver Lakes Shopping Center 9550 Flair Drive 626-582-8050 Anaheim Texas No. 5002 Shennan Road East, Luohu District 651 North Euclid Street 714-491-7942 15055 Vista Road, Helendale Shenzhen 518008, China 3920 North Peck Road 626-579-5450 Van Nuys Houston 6440 Sepulveda Boulevard, Suite B2 818-988-6668 86-755-8246-0910 Glendale Arcadia 11008 Bellaire Boulevard 281-575-0077 Taipei 520 North Central Avenue 818-545-8800 Walnut 1300 South Golden West Avenue 626-821-3539 6588 Corporate Drive 713-771-2828 Suite D, 16F, Taipei Metro Tower Hacienda Heights 20607-1 Amar Road 909-869-7232 Artesia Washington 207 Tun Hwa South Road, Sec 2 17188-A Colima Road 626-810-1688 West Covina 17713 Pioneer Boulevard 562-809-6296 Taipei 10602, Taiwan 3622 South Nogales Street 626-912-8543 Bellevue Irvine Chino Hills 886-2-2739-8505 10900 NE 4th Street, Suite 200 425-637-1188 15333 Culver Drive, Suite 670 949-733-8828 Westminster 2959 Chino Avenue 909-590-8310 2331 130th Avenue NE 425-882-8883 †Owned through Subsidiary Bank 19540 Jamboree Road, Suite 150 949-955-2728 9032 Bolsa Avenue 714-895-2575 Irvine Seattle 14845 Jeffrey Road 949-733-8818 9731 Bolsa Avenue 714-839-8999 15333 Culver Drive 949-726-1189 9709 3rd Avenue NE, Suite 110 206-525-8118 Lincoln Heights 5402 Walnut Avenue 949-451-1601 Northern California 668 South Lane Street, Suite 101 206-292-8880 2601 North Broadway 323-223-1164 Milpitas Cupertino Los Angeles 338 Barber Lane 408-571-4481 10001 North De Anza Boulevard, Suite 100 408-873-8128 New York Commercial Banking Office 942 North Broadway 213-489-5300 Pleasanton 10945 North Wolfe Road 408-873-7030 1040 Avenue of the Americas, 16th Floor 624 South Grand Avenue 213-688-8600 4299 Rosewood Drive, Suite 108 925-225-0127 New York, NY 10018 212-710-2398 767 North Hill Street 213-680-2510 Daly City 192 Skyline Plaza 650-755-8289 Rowland Heights Mortgage and Consumer Lending Center Montebello 1015 South Nogales Street 626-581-0573 9300 Flair Drive, 5th Floor 2825 Via Campo 323-723-2311 Fremont 34420 Fremont Boulevard, Suite F 510-796-7888 San Gabriel El Monte, CA 91731 800-562-6392 Monterey Park 46615 Mission Boulevard 510-252-1600 140 West Valley Boulevard 626-927-1180 Technology and Commercial Banking Center 855 South Atlantic Boulevard 626-281-5975 6036 Stevenson Boulevard 510-979-0065 Van Nuys 2350 Mission College Boulevard, Suite 988 228 West Garvey Avenue 626-280-1688 6450 Sepulveda Boulevard 818-947-0810 Santa Clara, CA 95054 408-588-9680 720 West Garvey Avenue 626-281-3800 Milpitas 468 Barber Lane, Suite 380A 408-383-0988 Ontario 3237 East Guasti Road, Suite 110 909-937-6056 Oakland 367 8th Street 510-836-2881 900 Webster Street 510-451-5600

www.eastwestbank.com 626.768.6000 135 N.Los Robles Avenue, Pasadena, CA 91101 Corporate Headquarters

ACHIEVING NEW HEIGHTS REPORT ANNUAL 2010 BANCORP WEST EAST

2010 ANNUAL REPORT