East West Bancorp, Inc. · NASDAQ:EWBC
East West Bancorp — Shareholder Meeting (May 2024)
18 slides from East West Bancorp's shareholder meeting presentation, May 24, 2024
Slide 1: Annual Shareholders' Meeting
Annual Shareholders’ 20 24 Meeting May 24, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and e
Slide 3: Agenda
Agenda ▪ Call to Order ▪ Introductions ▪ Items of Business ▪ Business Update ▪ Question and Answer Session ▪ Adjournment 3
Slide 4: Diverse, Highly Engaged Board of Directors
Diverse, Highly Engaged Board of Directors Dominic Ng Serge Dumont Sabrina Kay Chairman and Chief Executive Officer Vice Chairman Chief Executive Officer East West Bancorp and ImpactWayv, Inc. Fremont Private Investments East West Bank Manuel P. Alvarez Rudolph I. Estrada Jack C. Liu Founding Princi
Slide 5: Items of Business
Items of Business Election of Directors Approval of Executive Compensation for 2023 Ratification of Independent Registered Public Accounting Firm for 2024 5
Slide 6: Items of Business
Items of Business ✓ Election of Directors ✓ Approval of Executive Compensation for 2023 ✓ Ratification of Independent Registered Public Accounting Firm for 2024 6
Slide 7: Business Update
EASTWEST BANK Your financial bridge Business Update
Slide 8: Full Year 2023 Highlights
Full Year 2023 Highlights Key Metrics Highlights Net Income & Adjusted Pre-tax ▪ Record full year revenue and earnings Pre-Provision Income (PTPP)1 Net Income Adjusted PTPP1 − Revenue of $2.6 billion, up $263 million, 11% Y-o-Y +12% $1.8 − Net income of $1.2 billion, or $8.18 per diluted share $ in
Slide 9: East West at a Glance
East West at a Glance 03.31.24 03.31.24 03.31.24 1Q24 $11B Market Cap $71B Assets $59B Deposits 18% ROTCE1 4 branches in Asia to support cross-border trade 99 U.S. branches in leading metropolitan markets ▪ Headquartered in Pasadena, California ▪ Founded in 1973 - over 50 years in operation ▪ 25 yea
Slide 10: High Performance for Shareholders
High Performance for Shareholders Tangible Book Value per Share1 Dividends Declared Per Share 4 Year $1.92 4 Year CAGR CAGR +16% $1.60 +10% $46.27 $1.32 $37.79 $39.10 $33.85 $1.06 $1.10 $31.15 12.31.19 12.31.20 12.31.21 12.31.22 12.31.23 2019 2020 2021 2022 2023 Total Shareholder Return2 Capital Ret
Slide 11: 1Q24 Financial Highlights
1Q24 Financial Highlights $285 million net income available to common equity, $2.03 diluted earnings per share ▪ Grew avg. loans: +1% Q-o-Q ▪ Grew avg. deposits $2 billion, +4% Q-o-Q ‒ Growth in average residential ‒ Growth primarily from consumer and mortgage and C&I loans private banking customers
Slide 12: Question and Answer
EASTWEST BANK Your financial bridge Question and Answer
Slide 13: Appendix
EASTWEST BANK Your financial bridge Appendix
Slide 14: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Adjusted efficiency ratio repr
Slide 15: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Return on average TCE represents tangible net income divided by average tangible book value. Adjusted return on average TCE represents adjusted tangible net
Slide 16: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) During the fourth quarter of 2023, the Company recorded a $70.0 million pre-tax FDIC special assessment charge (included in Deposit insurance premiums and r
Slide 17: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible book value, tangible
Slide 18: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible book value, tangible