East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West
Bank, announced that its board of directors has authorized dividends on
its preferred stock.
A regular quarterly cash dividend of $20.00 per depository share on the
8.0% non-cumulative perpetual convertible preferred stock series A is
payable on August 1, 2008 to shareholders of record as of July 15, 2008.
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. The Bank
is chartered by the State of California and its deposits are insured by
the Federal Deposit Insurance Corporation or FDIC, to the maximum extent
permitted by law. 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
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.
