PASADENA, Calif.--(BUSINESS WIRE)--Nov. 6, 2009--
East West Bancorp (Nasdaq: EWBC) today announced the acquisition of the
operations of United Commercial Bank in an FDIC assisted transaction.
East West will host a call to discuss the transaction on Monday,
November 9, 2009 at 11:00 A.M. PT/ 2:00 P.M. ET. The public and
investment community are invited to listen as management discusses the
details of the transaction.
Those wishing to hear the conference call may log on to http://www.streetevents.com.
The following dial-in information is provided for participation in the
conference call: Local call (within the US and Canada) - (800) 860-2442;
International call - (412) 858-4600. Additional information for the
conference call and replay is provided on the Investor Relations page at www.eastwestbank.com.
Slides related to the transaction will also be posted to the company
website prior to the call.
About East West
East West Bancorp (Nasdaq: EWBC) is a publicly owned company with over
$19 billion in assets. The Company’s wholly owned subsidiary,
FDIC-insured East West Bank, is the second largest bank headquartered in
California and the largest bank in the nation focused on serving the
Asian American community. East West Bank has 137 branches, including 112
branches in California, nine branches in New York, five branches in
metropolitan Atlanta, three branches in Massachusetts, two branches in
Houston, and two branches in Seattle. East West Bank has four
full-service branches in Greater China, including two branches in Hong
Kong, one branch in Shanghai, and one branch in Shantou. The Bank also
has representative offices in Beijing, Guangzhou, Shanghai and Shenzhen,
China, and Taipei, Taiwan. For more information on East West Bancorp and
East West Bank, visit the Company's website at www.eastwestbank.com.
Forward-Looking Statements
This release may contain forward-looking statements, which are
included in accordance with the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 and accordingly, the cautionary
statements contained in East West Bancorp’s Annual Report on Form 10-K
for the year ended Dec. 31, 2008 (See Item I -- Business, and Item 7 --
Management’s Discussion and Analysis of Consolidated Financial Condition
and Results of Operations), and other filings with the Securities and
Exchange Commission are incorporated herein by reference. These factors
include, but are not limited to: the effect of interest rate and
currency exchange fluctuations; competition in the financial services
market for both deposits and loans; EWBC’s ability to efficiently
incorporate acquisitions into its operations; the ability of borrowers
to perform as required under the terms of their loans; effect of
additional provisions for loan losses; effect of any goodwill
impairment, the ability of EWBC and its subsidiaries to increase its
customer base; the effect of regulatory and legislative action,
including California tax legislation and an announcement by the state’s
Franchise Tax Board regarding the taxation of Registered Investment
Companies; risks inherent in possible acquisitions and FDIC-assisted
transactions; and regional and general economic conditions. Actual
results and performance in future periods may be materially different
from any future results or performance suggested by the forward-looking
statements in this release. Such forward-looking statements speak only
as of the date of this release. East West expressly disclaims any
obligation to update or revise any forward-looking statements found
herein to reflect any changes in the Bank’s expectations of results or
any change in event.
Source: East West Bancorp
East West Bancorp
Tom Tolda
Chief Financial Officer
626-768-6788
tom.tolda@eastwestbank.com
