East West Bancorp Explained

Type:Public
Traded As:NASDAQ:
S&P 400 Component
Subsid:East West Bank

East West Bancorp is the parent company of East West Bank. It is a publicly owned company with nearly $70 billion in assets as of December 31st 2023.[1] The company's wholly owned subsidiary, East West Bank, is the largest state-chartered bank in California as of 2023.[2] East West earned the top spot in S&P Global Market Intelligence's 2022 Ranking of U.S. Public Banks by Financial Performance.[3]

Operations

East West has more than 120 locations in the United States and Asia.[4] It provides both retail and commercial banking.[5]

History

In 1973, the East West Federal Bank (now East West Bank) was founded by F. Chow Chan, Betty Tom Chu, Richard K. Quan, Gilbert L. Leong, Philip Chow, John A Nuccio, Christopher L. Pocino, and John M. Lee. Its focus was to serve the Chinese American community in southern California.

On May 28, 1999, East West Bancorp completed a $13.5 million acquisition of First Central Bank, N. A. in an all-cash transaction.[6]

Management

In 1992, Dominic Ng was named the Chairman, CEO and President.[7] He replaced Kellogg Chan, who retired.[8] In January 2010, Irene H. Oh was promoted to EVP and CFO. She replaced Thomas J. Tolda, who resigned.[9] Gregory L. Guyett was appointed as the President and COO in October 2016.[10]

External links

NASDAQ:

Notes and References

  1. Web site: Reosti . John . January 24, 2024 . East West Bancorp reports post-crisis gain in account holders . March 22, 2024 . American Banker.
  2. News: 2023-08-24. 'Everybody Else Left or They Died:' California Bank Grows Simply by Surviving. Bloomberg.com. 2023-08-23. www.bloomberg.com.
  3. Web site: Clark . Robert . March 14, 2023 . East West Bancorp leads US public banks in 2022 financial performance ranking . American Banker.
  4. News: 2023-08-23 . 'Everybody Else Left or They Died:' California Bank Grows Simply by Surviving . 2024-03-29 . Bloomberg.com . en.
  5. Web site: East West Bancorp, Inc. (EWBC) . finance.yahoo.com . May 26, 2017.
  6. Web site: East West Bancorp Completes Acquisition of First Central Bank. 2013-10-21. 2017-12-01. https://web.archive.org/web/20171201081711/https://www.thefreelibrary.com/East+West+Bancorp+Completes+Acquisition+of+First+Central+Bank.-a054752540. dead.
  7. Web site: East West Bancorp Officers & Directors . eastwestbank.com . May 26, 2017 . December 2, 2016 . https://web.archive.org/web/20161202171331/http://investor.eastwestbank.com/od.aspx?iid=4040606 . dead .
  8. Web site: Chinese History Society of Southern California - East West Bank 2007 Honorees . chssc.org . May 26, 2017 . January 7, 2018 . https://web.archive.org/web/20180107061440/http://www.chssc.org/History/Honorees/Honorees2007d.aspx . dead .
  9. Web site: East West Bancorp, Inc. Appoints Irene H. Oh Executive Vice President and Chief Financial Officer . eastwestbank.com . May 26, 2017 . July 5, 2011 . https://web.archive.org/web/20110705151837/http://investor.eastwestbank.com/Mobile/file.aspx?IID=4040606&FID=8908157 . dead .
  10. Web site: East West Bancorp, Inc. Appoints Gregory L. Guyett as President and Chief Operating Officer . businesswire.com . 5 October 2016 . May 26, 2017.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "East West Bancorp".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.