East West Bancorp (EWBC) 8-K Entry into a Material Definitive Agreement

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1

FDIC Assisted Acquisition of United Commercial Bank

November 6, 2009

Nasdaq: EWBC

Exhibit

99.2

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This presentation may include forward-looking statements that involve inherent risks

and uncertainties.  East West Bancorp, Inc. cautions readers that a number of

important factors could cause actual results to differ materially from those in any

forward-looking statements.  These factors include economic conditions and

competition in the geographic and business areas in which East West Bancorp and

its

subsidiaries

operate,

inflation

or

deflation,

fluctuation

in

interest

rates,

legislation and governmental regulations, investigation of acquired banks and other

factors discussed in the company’s filings with the SEC.  Additionally, there can be

no

assurance

that

East

West

Bancorp

will

realize

the

anticipated

benefits

related

to

the acquisition of United Commercial Bank.  All forward-looking statements speak

only as of the date they are made, and East West Bancorp undertakes no obligation

to update them in light of new information or future events.

Safe Harbor Statement

Notice

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Transaction Overview

3

FDIC assisted acquisition of United Commercial Bank (“UCB”) with loss sharing

Purchase of $10.4 billion of total assets

$7.7 billion loan portfolio

$2.6 billion of cash and securities, all transferred at fair market values

Assumption of $9.2 billion of total liabilities

$6.5 billion of deposits

$2.5 billion of FHLB and repo borrowings

No holding company assets or liabilities included

UCB-China bank subsidiary included as part of transaction

Transaction will not affect normal business and operations of UCB-China

Loss share agreement covers approximately $7.4 billion of loans

FDIC covers 80% of losses up to $2.05 billion

FDIC covers 95% of losses above $2.05 billion

East West believes it has been conservative in its loss expectations and expects to have minimal economic

exposure under any loss scenario

East West issued $500 million of common stock and mandatorily convertible preferred securities via private placement

Both acquisition and capital raise closed on November 6, 2009

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Strategic Rationale

4

Creates premier commercial and retail bank focused on Asian-American markets

Expands

East

West

deposit

franchise

both

in

the

U.S.

and

in

Hong

Kong

and

China

Acquisition

adds

$5.7

billion

of

deposits

and

63

branches

in

the

U.S.

Creates presence in mainland China with 2 deposit-taking branches and approximately

$300 million of loans

Adds 1 branch in Hong Kong and over $700 million of deposits

Strengthens capital position and significantly increases earnings power of East West

Increased

scale

provides

significant

operating

leverage

that

will

further

improve

profitability

Financially compelling for shareholders

Significantly accretive to earnings per share

Minimal credit exposure with low risk-weighting applied to acquired assets

Accelerates return to substantial profitability

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Capital Raise

5

Private placement of $500 million of capital completed

Initial investment consists of:

$165 million of common equity (maximum issuance allowed under NASDAQ listing rules

without a shareholder vote)

$335 million of cumulative perpetual convertible preferred that will automatically convert

into common equity upon receiving required shareholder approval

Capital sold predominantly to existing public shareholders

No investor or group of investors with a common investment adviser will own more than 9.9% of

voting securities of the Company

All

common

stock

issued

at

$9.04

per

share

(30

day

average

close

as

of

October

30,

2009)

Mandatory preferred converts at $9.04 per share

Shareholder vote for conversion of mandatory preferred into common expected to be completed

in the near-term

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U.S. –

133 Branches:

California –

112 Branches:

Northern California

–

35 Locations:

34 Full Service Branches

1 In-Store 99 Ranch Market Branch

Southern California

–

77 Locations:

68 Full Service Branches

9 In-Store 99 Ranch Market Branches

New

York

–

9

Branches

Atlanta

–

5 Branches

Boston

–

3 Branches

Houston

–

2 Branches

Seattle

–

2 Branches

6

Greater China –

10 Locations:

4 Full Service Branches -

Hong Kong (2), Shanghai and

Shantou

6 Representative Offices -

Beijing (2), Shanghai, Taipei (2),

Guangzhou and Shenzhen

East West is now the largest commercial bank headquartered in Southern California

Creates the largest retail presence in Asian communities in the United States with 133

branches in key markets across the U.S.

Adds 63 branches in U.S., 2 in China 1 in Hong Kong

Only Chinese American focused bank with full service banking offices in U.S. and China

Expanded Deposit Franchise

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Noninterest-

bearing

15%

Savings &

Interest-

Bearing

Demand

11%

Money

Market

18%

Jumbo Time

22%

Retail Time

34%

Noninterest-

bearing

16%

Savings &

Interest-

Bearing

Demand

9%

Money

Market

26%

Jumbo Time

37%

Retail Time

12%

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Pro Forma Deposit Composition

$8.7bn deposits

$15.2bn deposits

East West and UCB Pro Forma

East West 9/30/09 Stand-Alone

Total China & Hong Kong Deposits: $1.1bn

On a pro forma basis, East West deposits as % of liabilities improves to 90% from 79%

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CRE

22%

C&I and

Trade

8%

Construction

& Land

7%

MFR

6%

SFR

6%

Consumer

3%

Acquired

Loans with

Loss Share

46%

China

2%

CRE

43%

C&I and

Trade

16%

Construction

& Land

13%

MFR

12%

SFR

11%

Consumer

5%

8

Pro Forma Loan Portfolio

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East West and UCB Pro Forma

(a)

East West 9/30/09 Stand-Alone

$8.4bn loans

$16.1bn loans

On a pro forma basis, 46% of East West’s loan portfolio is subject to FDIC loss share

(a) Pro forma loan balance excludes purchase accounting marks.

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Loans acquired expected to receive regulatory risk weighting relief

Company plans to deleverage the balance sheet by approximately $3.6 billion using predominately cash and

securities acquired and liabilities assumed in the transaction

9

Pro Forma Capital Impact at Close

(a)

Banks with approximately $60bn-$1 trillion of assets as of September 30, 2009.

(b)

Excludes covered assets.

Source: SNL Financial.

On a pro forma basis, East West will have extremely strong capital ratios and asset quality

East West

East West

Stand

Pro

Regional

Alone

Forma

Banks

(a)

Capital

TCE / TA

6.6%

6.8%

6.6%

Tier I Common Ratio

7.8

10.2

7.6

Tier 1 Leverage

10.6

9.5

9.6

Tier 1 Risk-Based

13.1

14.5

11.8

Total Risk-Based

15.1

16.2

15.9

Credit

(b)

NPAs

/ Assets

1.8%

1.1%

2.7%

NPLs

/ Loans

2.5

1.5

3.7

Reserves / NPLs

112.0

112.0

80.3

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Integration Plan

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East West management has formed a dedicated transition team to lead the integration plan

Credit risk management

Expanding credit team to manage portfolio to include existing East West credit staff and hire

additional resources, including former UCB credit staff

Branch Network

All retail branches will be retained

Customers will have access to broader products and services

Hong Kong/China

Stabilize Hong Kong and China business operations

Customer/Employee retention

Will honor deposit rates to maturity

Key management is known to East West

Strengthened capital base will help build customer and employee confidence

Systems integration

All critical systems on  common platforms

Retain key, talented management and enhance by adding additional management resources

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East West Strategy

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Capitalize and leverage dominant retail position in Chinese-American market

Financially bridge Asian and mainstream customers

Leverage growth opportunities in other regions

Provide full range of products and services to broader customer base

Maintain/improve efficiency of pro forma franchise

Maintain solid balance sheet: strong liquidity, capital and reserves 

Continue to actively manage legacy credit and problem assets in the near term

Focus on creating long-term shareholder value