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Item 9A. Controls and Procedures

2025-02-28 compared with 2024-02-29 · 55 added, 52 removed, 226 unchanged (32% of the section changed)

23 unchanged sentences

We have audited East West Bancorp, Inc.

and subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee

of Sponsoring Organizations of the Treadway Commission.

and subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

20 unchanged sentences

OTHER INFORMATION

During the three months ended December 31, 2023, none of the Company’s directors or Section 16 reporting officers adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of the SEC’s Regulation S-K).

During the three months ended December 31, 2024, none of the Company’s directors or Section 16 reporting officers adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of the SEC’s Regulation S-K), except as set forth below.

On November 20, 2024 , Dominic Ng , Chairman of the Board and Chief Executive Officer of the Company, entered into a pre-arranged trading plan for the sale of shares of the Company’s common stock (a “ Rule 10b5-1 Plan ”) that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the “Exchange Act”.

Ng’s Rule 10b5-1 Plan provides for the sale of up to 120,000 shares of common stock, which may commence effective March 6, 2025 and will terminate no later than December 19, 2025 .

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

24 unchanged sentences

Equity compensation plans approved by security holders — $ — 3,627,809 (1)

— $ — 4,293,085 (1)

Equity compensation plans not approved by security holders — — —

32 unchanged sentences

3.1.6 Certificate of Designations of Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock, Series C of the Registrant [Incorporated by reference to Exhibit 3.1, 4.1 from Registrant’s Current Report on Form 8-K filed with the Commission on November 12, 2009 (File No.

3.2 Amended and Restated Bylaws of the Registrant dated March 1 4 , 2023 [Incorporated by reference to Exhibit 3.1 from Registrant’s Current Report on Form 8-K filed with the Commission on Ma rch 17, 2023 (File No.

3.2 Amended and Restated Bylaws of the Registrant dated March 14, 2023 [Incorporated by reference to Exhibit 3.1 from Registrant’s Current Report on Form 8-K filed with the Commission on March 17, 2023 (File No.

4.1 Specimen Common Stock Certificate of Registrant [Incorporated by reference to Exhibit 4.1 from Registrant’s Registration Statement on Form S-4/A filed with the Commission on November 5, 1998 (File No.

9 unchanged sentences

10.1.8 Amendment to Employment Agreement – Dominic Ng* [Incorporated by reference to Exhibit 10.1 from Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022 filed with the Commission on May 9, 2022 (File No.

10.1.9 Amendment to Employment Agreement – Dominic Ng* [Incorporated by reference to Exhibit 10.1 from Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 filed with the Commission on May 9, 2024 (File No.

10.2.1 Employment Agreement – Douglas P.

14 unchanged sentences

Krause* [Incorporated by reference to Exhibit 10.2 from Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022 filed with the Commission on May 9, 2022 (File No.

10.2.9 Amendment to Employment Agreement – Douglas P.

Krause* [Incorporated by reference to Exhibit 10.2 from Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 filed with the Commission on May 9, 2024 (File No.

10.3.1 Employment Agreement – Irene H.

9 unchanged sentences

10.3.6 Amendment to Employment Agreement – Irene H.

Oh* [Incorporated by reference to Exhibit 10.3.6 from Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Commission on February 29, 2024 (File No.

10.3.7 Amendment to Employment Agreement – Irene H.

Oh* Filed herewith.

10.4.1 Employment Agreement – Parker Shi* [Incorporated by reference to Exhibit 10.1 from Registrant’s Current Report on Form 8-K filed with the Commission on December 6, 2021 (File No.

10.4.2 Amendment to Employment Agreement – Parker Shi* [Incorporated by reference to Exhibit 10.4.2 from Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Commission on February 29, 2024 (File No.

10.4.3 Amendment to Employment Agreement - Parker Shi* Filed herewith.

7 unchanged sentences

1999 Spirit of Ownership Restricted Stock Program* [Incorporated by reference to Exhibit 10.4 from Registrant’s Current Report on Form 8-K filed with the Commission on March 9, 2005 (File No.

10.5.5 East West Bank Deferred Compensation Plan* [Incorporated by reference to Exhibit 4.4 from Registrant’s Registration Statement on Form S-8 filed with the Commission on November 8, 2024 (File No.

333-283107).]

10.6 East West Bancorp, Inc.

1998 Employee Stock Purchase Plan* [Incorporated by reference to Exhibit 10.7 from Registrant’s Registration Statement on Form S-4 filed with the Commission on September 17, 1998 (File No.

19 East West Bancorp, Inc.

Insider Trading Policy.

Filed herewith.

21.1 Subsidiaries of the Registrant.

15 unchanged sentences

97 East West Bancorp, Inc.

Execu tive Compensation Clawback Policy.

F iled herewith.

Executive Compensation Clawback Policy [Incorporated by reference to Exhibit 97 from Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Commission on February 29, 2024 (File No.

101.INS The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.

15 unchanged sentences

GLOSSARY OF ACRONYMS

AFS Available-for-sale GLBA Gramm-Leach-Bliley Act of 1999

ALCO Asset/Liability Committee HELOC Home equity line of credit

AML Anti-money laundering HKMA Hong Kong Monetary Authority

AOCI Accumulated other comprehensive income (loss) HKSFC Hong Kong Securities and Futures Commission

ASC Accounting Standards Codification HTM Held-to-maturity

ASU Accounting Standards Update IDI Insured depository institution

BHC Act Bank Holding Company Act of 1956, as amended LCH London Clearing House

BKX KBW Nasdaq Bank Index LGD Loss given default

BSA Bank Secrecy Act LIBOR London Interbank Offered Rate

Bank Term Funding Program

LTV Loan-to-value

C&I Commercial and industrial MAS Monetary Authority of Singapore

Climate Corporate Data Accountability Act

MD&A Management’s Discussion and Analysis of Financial Condition and Results of Operations

California Consumer Privacy Act

MMBTU Million British thermal unit

CECL Current expected credit losses NAFR National Administration of Financial Regulation

CET1 Common Equity Tier 1 NAV Net asset value

CFPB Consumer Financial Protection Bureau NRSRO Nationally recognized statistical rating organizations

CLO Collateralized loan obligation OFAC Office of Foreign Assets Control

CME Chicago Mercantile Exchange OREO Other real estate owned

Chief operating decision maker

OTTI Other-than-temporary impairment

CRA Community Reinvestment Act PATRIOT Act Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001

CRE Commercial real estate PBOC People’s Bank of China

Climate-Related Financial Risk Act

PCA Prompt Corrective Action

DFPI California Department of Financial Protection and Innovation PCD Purchased credit deteriorated

DIF Deposit Insurance Fund PD Probability of default

EFFR Effective Fed Funds Rate PIPL Personal Information Protection Law

EGRRCPA Economic Growth, Regulatory Relief, and Consumer Protection Act RMB Chinese Renminbi

EPS Earnings per share ROC Risk Oversight Committee

ERM Enterprise risk management ROE Return on average common equity

EVE Economic value of equity RPA Credit risk participation agreement

FASB Financial Accounting Standards Board RSU Restricted stock unit

FDIA Federal Deposit Insurance Act S&P Standard & Poor's

FDIC Federal Deposit Insurance Corporation SBLC Standby letter of credit

FFIEC Federal Financial Institutions Examination Council SEC U.S.

AFS Available-for-sale GDP Gross Domestic Product

ALCO Asset/Liability Committee GHG Greenhouse gas

AML Anti-money laundering GLBA Gramm-Leach-Bliley Act of 1999

AOCI Accumulated other comprehensive (loss) income GNMA Government National Mortgage Association

ASC Accounting Standards Codification HELOC Home equity line of credit

ASU Accounting Standards Update HTM Held-to-maturity

BHC Act Bank Holding Company Act of 1956, as amended IAR Independent Asset Review

BKX KBW Nasdaq Bank Index IDI Insured depository institution

BSA Bank Secrecy Act LCH London Clearing House

BTFP Bank Term Funding Program LGD Loss given default

C&I Commercial and industrial LTV Loan-to-value

CARB California Air Resources Board MD&A Management’s Discussion and Analysis of Financial Condition and Results of Operations

CCDAA Climate Corporate Data Accountability Act MMBTU Million British thermal unit

CCPA California Consumer Privacy Act NAV Net asset value

CECL Current expected credit losses NRSRO Nationally recognized statistical rating organizations

CET1 Common Equity Tier 1 OFAC Office of Foreign Assets Control

CFPB Consumer Financial Protection Bureau OREO Other real estate owned

CLO Collateralized loan obligation OTTI Other-than-temporary impairment

CME Chicago Mercantile Exchange PAM Proportionate amortization method

CNY Chinese Yuan PATRIOT Act Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001

CODM Chief operating decision maker PCA Prompt Corrective Action

CRA Community Reinvestment Act PCD Purchased credit deteriorated

CRE Commercial real estate PD Probability of default

CRFRA Climate-Related Financial Risk Act PIPL Personal Information Protection Law

DFPI California Department of Financial Protection and Innovation RMB Chinese Renminbi

DIF Deposit Insurance Fund ROC Risk Oversight Committee

Department of Justice ROE Return on average common equity

EPS Earnings per share RPA Credit risk participation agreement

ERM Enterprise risk management RSU Restricted stock unit

EVE Economic value of equity S&P Standard & Poor's

FASB Financial Accounting Standards Board SBLC Standby letter of credit

FDIA Federal Deposit Insurance Act SEC U.S.

Securities and Exchange Commission

FHLB Federal Home Loan Bank SOFR Secured Overnight Financing Rate

FDIC Federal Deposit Insurance Corporation SOFR Secured Overnight Financing Rate

FFIEC Federal Financial Institutions Examination Council TCE Return on average tangible common equity

FHLB Federal Home Loan Bank TDR Troubled debt restructuring

FINRA Financial Industry Regulatory Authority, Inc.

TCE Tangible common equity

FRBSF Federal Reserve Bank of San Francisco TDR Troubled debt restructuring

FTP Funds transfer pricing U.S.

United States

GAAP United States Generally Accepted Accounting Principles USD U.S.

GDP Gross Domestic Product VIE Variable interest entity

GHG Greenhouse gas

FRB Federal Reserve Bank USD U.S.

FTP Funds transfer pricing VIE Variable interest entity

GAAP Generally accepted accounting principles

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

31 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures