EWBC » Topics » Item 8.01. Other Events.

This excerpt taken from the EWBC 8-K filed Jul 20, 2009.

Item 8.01.  Other Events.

 

East West Bancorp, Inc. (the “Company”) is filing this Current Report on Form 8-K (the “Form 8-K”) to present the financial information in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, filed on March 2, 2009 (the “Form 10-K”), to reflect revised financial information and disclosures as a result of changes in the Company’s segment reporting as described below.

 

During the first quarter of 2009, the Company implemented changes to the composition and alignment of its reportable segments under SFAS No. 131, “Disclosure about Segments of an Enterprise and Related Information,” (“SFAS No. 131”).  As a result of these changes, the Company’s previous five reportable segments have now been aggregated into three reportable segments: Retail Banking, Commercial Banking, and Other.  Specifically, the changes effected during the first quarter of 2009 are as follows:

 

·      The Residential Lending segment has been aggregated into the Retail Banking reportable segment due to the consumer-centric nature of the products and services offered by these two segments as well as the synergistic relationship between these two segments in generating consumer mortgage loans.

 

·      The Commercial Lending reportable segment has been renamed “Commercial Banking” and now includes East West Insurance Services, Inc. (“EWIS”), the Company’s insurance brokerage agency whose operations had historically been aggregated into the “Other” reportable segment.   Over the years, the operations of EWIS have increasingly become more integrated with the Company’s commercial banking operations.

 

·      The Treasury segment has been aggregated into the Other reportable segment which provides broad administrative support to the Retail Banking and Commercial Banking segments, the two core reportable segments of the Company.

 

Management of the Company believes that this new reporting structure better aligns its service structure with its customer base and provides a more efficient platform to manage the complexities and challenges impacting the Company’s current business environment.

 

This excerpt taken from the EWBC 8-K filed Jul 20, 2009.

Item 8.01 Other Events.

On July 20, 2009, East West Bancorp, Inc. issued a press release announcing the commencement of a public offering of its common stock. A copy of the press release is filed herewith and is incorporated by reference.

This excerpt taken from the EWBC 8-K filed Apr 30, 2008.

Item 8.01               Other Events

 

On April 23, 2008,  East West Bancorp, Inc., a Delaware corporation (the “Company”) entered into an Underwriting Agreement with Lehman Brothers Inc. (the “Underwriter”), relating to the offering of 200,000 shares of 8.00% Non-cumulative Perpetual Convertible Preferred Stock, par value $0.001 per share ($200 million aggregate liquidation preference) the (“Preferred Stock”).

 

A copy of the Underwriting Agreement is included as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

2



 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki