East West Bancorp

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East West Bancorp
Company typePublic
Nasdaq: EWBC
S&P 400 Component
FoundedAugust 26, 1998; 25 years ago (1998-08-26)
SubsidiariesEast West Bank
Websiteeastwestbank.com

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.[6] 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.[7]

Management

In 1992, Dominic Ng was named the Chairman, CEO and President.[8] He replaced Kellogg Chan, who retired.[6] 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]

References

  1. ^ Reosti, John (January 24, 2024). "East West Bancorp reports post-crisis gain in account holders". American Banker. Retrieved March 22, 2024.
  2. ^ "'Everybody Else Left or They Died:' California Bank Grows Simply by Surviving". Bloomberg.com. 2023-08-23. Retrieved 2023-08-24 – via www.bloomberg.com.
  3. ^ Clark, Robert (March 14, 2023). "East West Bancorp leads US public banks in 2022 financial performance ranking". American Banker.
  4. ^ "'Everybody Else Left or They Died:' California Bank Grows Simply by Surviving". Bloomberg.com. 2023-08-23. Retrieved 2024-03-29.
  5. ^ "East West Bancorp, Inc. (EWBC)". finance.yahoo.com. Retrieved May 26, 2017.
  6. ^ a b "Chinese History Society of Southern California - East West Bank 2007 Honorees". chssc.org. Archived from the original on January 7, 2018. Retrieved May 26, 2017.
  7. ^ "East West Bancorp Completes Acquisition of First Central Bank". Archived from the original on 2017-12-01. Retrieved 2013-10-21.
  8. ^ "East West Bancorp Officers & Directors". eastwestbank.com. Archived from the original on December 2, 2016. Retrieved May 26, 2017.
  9. ^ "East West Bancorp, Inc. Appoints Irene H. Oh Executive Vice President and Chief Financial Officer". eastwestbank.com. Archived from the original on July 5, 2011. Retrieved May 26, 2017.
  10. ^ "East West Bancorp, Inc. Appoints Gregory L. Guyett as President and Chief Operating Officer". businesswire.com. 5 October 2016. Retrieved May 26, 2017.

External links

  • Official website
  • Business data for East West Bancorp:
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