PASADENA, Calif.--(Business Wire)--
East West Bancorp, Inc. (Nasdaq:EWBC), parent company of East West
Bank, reported today that is has completed the analysis of its
goodwill as of June 30, 2008. No adjustments are required.
Accordingly, the preliminary financial results for the second quarter
2008 reported on July 24, 2008 are now final.
About East West
East West Bancorp is a publicly owned company, with $11.8 billion
in assets, whose stock is traded on the Nasdaq Global Select Market
under the symbol "EWBC." The company's wholly owned subsidiary, East
West Bank, is the second largest independent commercial bank
headquartered in Southern California with 72 branch locations. East
West Bank serves the community with 70 branch locations across
Southern and Northern California and a branch location in Houston,
Texas. East West Bank has three international locations in Greater
China, including a full-service branch in Hong Kong and representative
offices in Beijing and Shanghai. For more information on East West
Bancorp, 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, 2007 (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; 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, Inc.
Tom Tolda
Chief Financial Officer
626-768-6788
Copyright Business Wire 2008
