East West Bank

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East West Bancorp, Inc.
Company typeSubsidiary
IndustryFinancial services
FoundedJanuary 2, 1973; 51 years ago (1973-01-02) in Los Angeles, California
HeadquartersPasadena, California
Number of locations
124 locations
Key people
Dominic Ng (Chairman and Chief Executive Officer)
Christopher J. Del Moral-Niles, CFA (EVP and CFO)
Irene H. Oh (EVP and CRO)
Douglas P. Krause (General Counsel)
Revenue Increase US$2.345 billion (2022)[1]
Increase US$1.128 billion (2022)[1]
Total equity Increase US$5.783 billion (2022)[1]
Number of employees
2,925 (U.S.), 230 (Hong Kong and China) full-time equivalent (2022)[1]
ParentEast West Bancorp
Capital ratio12.7% (CET1; 2022)[1]
RatingBBB (long-term); A2/F2 (short-term)[2]
Websitewww.eastwestbank.com Edit this at Wikidata

East West Bank (traditional Chinese: 華美銀行; simplified Chinese: 华美银行; pinyin: Huáměi Yínháng), the primary subsidiary of East West Bancorp, Inc., is the largest publicly traded bank headquartered in Southern California, United States. It was founded in 1973 in Los Angeles to serve the Chinese American community in Southern California. In 2023, East West expanded its footprint in Asia with the opening of a representative office in Singapore. Forbes magazine has recognized East West Bank as one of "America's Best Banks" since 2010. East West earned the number one spot in S&P Global Market Intelligence's 2022 Ranking of U.S. Public Banks by Financial Performance.[3]


In 1973, East West Federal Bank was founded by F. Chow Chan, Betty Tom Chu, Richard K. Quan, Gilbert L. Leong, Philip Chow, John A Nuccio, Christopher L. Pocino, and John M. Lee.[4] Its focus was to serve the Chinese American community in Southern California.

In 1976, Kellogg Chan, son of F. Chow Chan, was appointed chairman.[5]

In 1991, during the savings and loan crisis, the company acquired Pacific Coast Savings,[6][7][8] which increased the bank's assets from $600 million to $1 billion and expanded operations to San Francisco, California

In 1992, Dominic Ng was named the Chairman, CEO and President of the company, replacing Kellogg Chan who retired.[4]

East West Bank became a state-chartered commercial bank on July 31, 1995.[9]

In 1999, the company acquired First Central Bank for $13.5 million in cash.[10]

In August 2004, the company acquired Trust Bank, a Chinese American bank based in Monterey Park, California, with four branches and $235 million in assets, for $32.9 million.[11][12]

In September 2005, the company acquired United National Bank, a commercial bank headquartered in San Marino, California, with 11 branches and $665 million in loans receivable, for $177.9 million.[13][14]

In March 2006, the company acquired Standard Bank, a Chinese-American bank headquartered in Monterey Park, California, with 6 branches and $923 million in assets, for $200 million.[14][15][16]

In August 2007, the company acquired Desert Community Bank, a community bank operating in the Victor Valley region of California. Desert Community Bank branches remained branded as such and did not change to East West Bank.[17] In November 2017, East West Bank agreed to sell Desert Community Bank to Flagstar Bank; the deal was completed in March 2018. [18]

In 2009, the company acquired the assets of San-Francisco-based United Commercial Bank (UCB), via a transaction facilitated by the Federal Deposit Insurance Corporation. This expanded East West Bank's reach by 63 branches, including 17 in Southern California, and branches in the Chinese American communities of Houston, Boston, and Atlanta, as well as branches in Hong Kong and China.[19][20][21]

In January 2010, Irene H. Oh was promoted to EVP and CFO, replacing Thomas J. Tolda, who resigned.[22]

In 2010, the company acquired the assets, including four branches, of Washington First International Bank of Seattle, Washington, via a transaction facilitated by the Federal Deposit Insurance Corporation.[23][24][25][26]

In 2014, the company acquired MetroCorp Bancshares, which operated as MetroBank, for $268 million in cash and stock.[27][28]

Senior leadership[edit]

The bank has been led by a single chairman, president, and CEO – all 3 positions being one person – since its founding in 1973.[29]

List of chairmen, presidents, and CEOs[edit]

  1. F. Chow Chan (1973–1976)[29]
  2. Kellogg Chan (1976–1992)[29]
  3. Dominic Ng (since 1992)[4]


The bank's spokeswoman[when?] was figure skater Michelle Kwan.[30]

East West Bank purchased the naming rights to the East West Ice Palace, an ice rink arena in Artesia, California.[30][when?]


  1. ^ a b c d e https://d18rn0p25nwr6d.cloudfront.net/CIK-0001069157/109c78ff-775a-414a-b698-aa06ad84edca.pdf [bare URL PDF]
  2. ^ "Financial Information - Credit Ratings". investor.eastwestbank.com. Retrieved 2022-12-01.
  3. ^ Clark, Robert (March 28, 2023). "East West Bancorp leads US public banks in 2022 financial performance ranking". S&P Global Market Intelligence.{{cite web}}: CS1 maint: url-status (link)
  4. ^ a b c "East West Bank 2007 Honorees". Chinese Historical Society of Southern California. Archived from the original on 2018-01-07. Retrieved 2017-05-27.
  5. ^ Hamilton, Denise (9 April 1995). "Banking on the Family Name : The Owner of an Ailing Bank Needed a Proven Moneymaker, Savvy With the Ways of Chinese Customers, to Pull It Out of the Red. So He Turned to Finance Scion Kellogg Chan, the Man With the Golden Touch". Los Angeles Times. Retrieved 12 April 2023.
  6. ^ "THRIFT SEIZED. Federal regulators have seized the..." Orlando Sentinel. 19 March 1990. Retrieved 12 April 2023.
  7. ^ "Past haunts founder of new thrift". San Francisco Business Times. 2000-04-03. Archived from the original on 17 September 2000. Retrieved 12 April 2023.
  8. ^ "A new savings and loan company opened for business... - UPI Archives". UPI.com. 23 July 1981. Retrieved 12 April 2023.
  9. ^ East West Bancorp, Inc. 2014 Form 10-K Annual Report
  10. ^ "East West Bancorp Completes Acquisition of First Central Bank" (Press release). Archived from the original on 2017-12-01. Retrieved 2017-06-04.
  11. ^ "East West Bancorp Enters Into Definitive Agreement for the Acquisition of Trust Bank" (Press release). PRNewswire. June 3, 2004.
  12. ^ "East West Bancorp Closes Trust Bank Acquisition" (Press release). PRNewswire. August 9, 2004.
  13. ^ Chen, Liyan (January 19, 2016). "Meet The Chinese American Bank That Wants To Become Wells Fargo". Forbes Magazine.
  14. ^ a b East West Bancorp, Inc. 2005 Form 10-K Annual Report
  15. ^ "East West Bancorp and Standard Bank Enter Into Definitive Agreement for Strategic Merger" (Press release). PRNewswire. December 28, 2005. Archived from the original on March 3, 2016. Retrieved June 27, 2015.
  16. ^ "East West Bancorp Closes Standard Bank Acquisition" (Press release). PRNewswire. March 17, 2006.
  17. ^ "East West Bancorp Closes Desert Community Bank Merger" (Press release). PRNewswire. August 17, 2007. Archived from the original on July 5, 2011. Retrieved June 4, 2017.
  18. ^ "East West Bank Announces Agreement to Sell Desert Community Bank Branches to Flagstar Bank, FSB". www.businesswire.com. 2017-11-13. Retrieved 2019-07-21.
  19. ^ Reckard, E. Scott (November 7, 2009). "United Commercial Bank is shut down, sold to East West Bancorp". Los Angeles Times.
  20. ^ Anderson, Mark (November 9, 2009). "United Commercial branches bought by East West Bank". American City Business Journals.
  21. ^ Federal Deposit Insurance Corporation Failed Bank Information for United Commercial Bank, San Francisco, CA
  22. ^ "East West Bancorp, Inc. Appoints Irene H. Oh Executive Vice President and Chief Financial Officer" (Press release). Business Wire. January 26, 2010.
  23. ^ Grygiel, Chris (June 11, 2010). "Bad loans force closure of Seattle-based bank". Seattle Post-Intelligencer.
  24. ^ Federal Deposit Insurance Corporation Failed Bank Information for Washington First International Bank, Seattle, WA
  25. ^ DeSilver, Drew (June 11, 2010). "Regulators close Washington First International Bank". The Seattle Times.
  26. ^ Grind, Kirsten (June 11, 2010). "Washington First bank closed, sold to California firm". American City Business Journals.
  27. ^ "East West Bancorp Closes MetroCorp Bancshares Acquisition" (Press release). Business Wire. January 17, 2014.
  28. ^ Wilkinson, Emily (January 23, 2014). "California bank boosts Texas footprint with MetroCorp deal". American City Business Journals.
  29. ^ a b c "EastWest Bancorp 2002 Annual Report" (PDF).
  30. ^ a b ELLIOTT, HELENE (May 15, 2005). "Now Kwan Has a Rink of Her Own in Artesia". Los Angeles Times.

External links[edit]