East West Bancorp Announces Date for Fourth Quarter and Full Year 2022 Financial Results; Updates Fourth Quarter 2022 Tax Credit Amortization and Tax Rate

Rhea-AI Summary

East West Bancorp, Inc. (NASDAQ: EWBC) will release its financial results for Q4 and FY 2022 on January 26, 2023. Management will host a conference call at 8:30 A.M. PT to discuss these results. The call can be accessed by dialing (877) 506-6399 for U.S. participants. Additionally, the company updated its fourth quarter tax credit amortization to $65 million and an effective tax rate of 13%, with a full-year rate of 20%. The firm operates over 120 locations in the U.S. and China, boasting total assets of $62.6 billion.

Positive

• Fourth quarter tax credit amortization increased to $65 million.
• Effective tax rate for Q4 2022 set at 13%.
• Total assets reported at $62.6 billion.

Negative

• None.

PASADENA, California--(BUSINESS WIRE)-- East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, will release fourth quarter and full year 2022 financial results before the market opens on Thursday, January 26, 2023.

Conference Call Information

Management will discuss fourth quarter and full year 2022 financial results with the public on Thursday, January 26, 2023, at 8:30 A.M. Pacific Time/ 11:30 A.M. Eastern Time via conference call. The public and investment community are invited to listen as management discusses fourth quarter and full year operating developments.

Dial-In Numbers:
Within the U.S. Within Canada International		(877) 506-6399 (855) 669-9657 (412) 902-6699

Replay Numbers:
Within the U.S. Within Canada International Replay Access Code		(877) 344-7529 (855) 669-9658 (412) 317-0088 4372128

Replay will be available from January 26, 2023, at 11:30 A.M. Pacific Time/ 2:30 P.M. Eastern Time until February 26, 2023.

Information for the conference call and replay are provided on the Investor Relations page at www.eastwestbank.com/investors.

Update to Fourth Quarter 2022 Tax Credit Amortization and Effective Tax Rate

East West would also like to update its tax credit amortization for the fourth quarter of 2022 to $65 million and its effective tax rate to 13% for the same period, due to the timing of when some tax credit investments closed and went into service. For the full year 2022, the effective tax rate will be 20%.

About East West

East West Bancorp, Inc. is a public company with total assets of $62.6 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, operating over 120 locations in the United States and in China. The Company’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington. In China, East West’s presence includes full-service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, and Xiamen. For more information on East West, visit the Company’s website at www.eastwestbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230108005109/en/

INVESTOR RELATIONS CONTACTS:

Irene Oh

Chief Financial Officer

T: (626) 768-6360

E: irene.oh@eastwestbank.com

Julianna Balicka

Director of Investor Relations and Corporate Finance

T: (626) 768-6985

E: julianna.balicka@eastwestbank.com

Source: East West Bancorp, Inc.

FAQ

When will East West Bancorp release its Q4 2022 financial results?

East West Bancorp will release its financial results on January 26, 2023.

What is the effective tax rate for East West Bancorp for Q4 2022?

The effective tax rate for Q4 2022 is 13%.

How much is East West Bancorp's total assets?

East West Bancorp has total assets of $62.6 billion.

What are the dial-in numbers for the East West Bancorp conference call?

The dial-in number for the U.S. is (877) 506-6399.