PASADENA, Calif.--(Business Wire)--
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.
East West Bancorp
Tom Tolda
Chief Financial Officer
626-768-6788
tom.tolda@eastwestbank.com
Copyright Business Wire 2009
