Exhibit 99.1

FOR FURTHER INFORMATION AT THE COMPANY:

Irene Oh

Chief Financial Officer

(626) 768-6360

EAST WEST BANCORP REPORTS NET INCOME FOR FIRST QUARTER 2012 OF $68 MILLION, UP 21% FROM PRIOR YEAR AND EARNINGS PER SHARE OF $0.45, UP 22% FROM PRIOR YEAR

Pasadena, CA – April 17, 2012 – East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, today reported financial results for the first quarter of 2012. For the first quarter of 2012, net income was $68.1 million or $0.45 per dilutive share.  East West increased first quarter net income by $12.0 million or 21% and increased earnings per dilutive share $0.08 or 22% from the prior year period.

“East West is pleased to report strong earnings of $68.1 million or $0.45 per share for the first quarter of 2012,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “Earnings per share for the first quarter of 2012 was 5% higher than the prior quarter and 22% higher than the prior year. This increase in earnings is reflective of healthy, profitable and prudent growth in our loan and deposit portfolios, which has resulted in a strong net interest margin of 4.21% and a reduced cost of deposits down to 0.47%.  During the first quarter, we grew our noncovered loans by $211.9 million or 2%, and increased core deposits by $256.2 million or 2% to a record $10.6 billion. This growth in core deposits was fueled by an increase in demand deposits to a record $3.7 billion, or 21% of our total deposits as of March 31, 2012.”

Ng continued, “For the past two years our credit quality has steadily improved and as a result, credit costs have declined. During the first quarter, net charge-offs declined to $10.3 million, an improvement of 70% from the first quarter of 2011. Net charge-offs decreased while we also reduced nonperforming assets to $167.1 million or 0.77% of total assets as of March 31, 2012.”

“Earlier in the year, the Board of Directors approved a $200 million stock repurchase plan and increased the dividend to $0.40 per year. These actions were taken due to the strength of our balance sheet, capital levels and core profitability. As we continue to build our business and execute on our strategy as the premier financial bridge between East and West, I am confident

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that East West can increase our core profitability and market share, and return strong value to our shareholders for the remainder of 2012 and beyond,” concluded Ng.

Quarterly Results Summary

First Quarter 2012 Highlights

·                 Strong First Quarter Earnings – For the first quarter of 2012, net income was $68.1 million or $0.45 per dilutive share. Net income grew 3% or $1.9 million from the fourth quarter of 2011 and 21% or $12.0 million from the first quarter of 2011. Earnings per dilutive share grew 5% or $0.02 from the fourth quarter of 2011 and 22% or $0.08 from the first quarter of 2011.

·                 Solid Return on Common Equity of 12.0% – For the first quarter of 2012, our return on common equity increased to 12.0% from 11.5% in the fourth quarter of 2011 and 10.5% in the first quarter of 2011.

·                 Repurchase of 4.6 Million Shares of Common Stock – During the first quarter of 2012, we repurchased 4.6 million shares of our common stock at a weighted average price of $22.14 per share.

·                 Strong Loan Growth – Quarter to date, noncovered loans grew $211.9 million or 2%. This growth was largely due to increases in single family, and commercial and trade finance loans, which grew $156.5 million or 9% and $96.1 million or 3%, respectively.

·                 Strong Core Deposit Growth – Core deposits increased $256.2 million or 2% to a record $10.6 billion or 61% of total deposits. Demand deposits increased $197.3 million or 6% quarter to date to a record $3.7 billion.

·                 Cost of Funds Down 8 bps from Q4 2011 and Down 26 bps from Q1 2011 – The cost of funds improved 8 basis points from the fourth quarter of 2011 and 26 basis points from the first quarter of 2011 to 0.75% for the first quarter of 2012. Our cost of deposits improved 8

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basis points from the fourth quarter of 2011 and 19 basis points from the first quarter of 2011 to 0.47% for the quarter ended March 31, 2012.

·                 Net Charge-offs Down 53% from Q4 2011, Down 70% from Q1 2011 – Net charge-offs declined to $10.3 million, a decrease of $11.5 million or 53% from the prior quarter and a decrease of $23.9 million or 70% from the first quarter of 2011.

·                 Nonperforming Assets Down to 0.77% of Total Assets – Nonperforming assets decreased to $167.1 million, or 0.77% of total assets at March 31, 2012, a $7.8 million or 4% decrease from December 31, 2011 and a $21.2 million or 11% decrease from March 31, 2011.

Management Guidance

The Company is providing guidance for the second quarter and full year of 2012. Management currently estimates that fully diluted earnings per share for the full year of 2012 will range from $1.78 to $1.82, or an increase of 11% to 14% from 2011. Also, this updated guidance for the full year 2012 is an increase of $0.04 per dilutive share from our previously released guidance.

Management currently estimates that fully diluted earnings per share for the second quarter of 2012 will range from $0.43 to $0.45 per dilutive share. This EPS guidance for the second quarter of 2012 is based on the following assumptions:

·                 Stable balance sheet

·                 A stable interest rate environment and an adjusted net interest margin of approximately 3.90%  to 4.00% 1

·                 Provision for loan losses of approximately $15 to $20 million for the quarter

·                 Total noninterest expense of approximately $100 million for the quarter, net of amounts to be reimbursed by the FDIC

·                 Effective tax rate of approximately 36%

Balance Sheet Summary

At March 31, 2012, total assets equaled $21.7 billion compared to $22.0 billion at December 31, 2011. Average earning assets decreased $93.5 million to $19.5 billion for the first quarter of 2012, compared to the prior quarter. The decrease in total assets and average earning assets was primarily attributable to a decrease in investment securities which decreased $365.9 million during the first quarter of 2012, largely resulting from the sale of $259.4 million of investment securities. This decrease in investment securities was partially offset by growth in the noncovered loan portfolio and an increase in cash and cash equivalents.

Total loans receivable at March 31, 2012 equaled $14.5 billion, unchanged from December 31, 2011. During the first quarter non-covered loan balances increased 2% or $211.9 million to $10.8 billion at March 31, 2012. The increase in noncovered loans during the first quarter was driven by growth in single family loans, commercial and trade finance loans, and consumer loans which increased 9% or $156.5 million, 3% or $96.1 million, and 5% or $29.0 million, respectively.

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Covered Loans

Covered loans totaled $3.7 billion as of March 31, 2012, a decrease of $239.4 million or 6% from December 31, 2011. The decrease in the covered loan portfolio was primarily due to payoffs and paydown activity, as well as charge-offs.

The covered loan portfolio is comprised of loans acquired from the FDIC-assisted acquisitions of United Commercial Bank (UCB) and Washington First International Bank (WFIB) which are covered under loss share agreements with the FDIC. During the first quarter of 2012, we recorded a net decrease in the FDIC indemnification asset and receivable included in noninterest income of $(5.4) million, largely due to continued improved credit performance of the UCB portfolio as compared to our original estimate.

Deposits and Borrowings

At March 31, 2012, total deposits equaled $17.3 billion as compared to $17.5 billion at December 31, 2011 and $16.4 billion at March 31, 2011. In the first quarter of 2012, we continued to execute our strategy to grow low-cost, commercial deposits while reducing our reliance on time deposits. Core deposits increased to a record $10.6 billion at March 31, 2012, or an increase of $256.2 million or 2% from December 31, 2011. The strong increase in core deposits during the first quarter of 2012 was largely driven by an increase in noninterest-bearing demand deposits which increased by $197.3 million or 6% to a record $3.7 billion. Time deposits decreased by $370.7 million or 5% from December 31, 2011 to $6.8 billion at March 31, 2012.

During the first quarter of 2012, the Company prepaid $20.0 million of FHLB advances carrying an effective interest rate of 2.43%, incurring a prepayment penalty of $1.3 million, which is included in noninterest expense. Also in the first quarter, the Company modified $300.0 million of fixed rate FHLB advances into adjustable rate, reducing the effective interest rate on these borrowings from 2.27% to 1.36%. These proactive actions to reduce the cost of FHLB advances resulted in a decrease in the carrying balance of FHLB advances to $394.7 million at March 31, 2012. Additionally, during the quarter the Company modified $200.0 million of long-term repurchase agreements, reducing the rate on these agreements by 86 basis points.

First Quarter 2012 Operating Results

Net Interest Income

Net interest income, adjusted for the net impact of covered loan dispositions, remained stable and totaled $204.2 million for the first quarter, an increase of $173 thousand from $204.0 million in prior quarter. 1 The core net interest margin, excluding the net impact to interest income of $14.7 million resulting from covered loan activity and amortization of the FDIC indemnification asset, totaled 4.21% for the first quarter of 2012, an increase of 8 basis points from the fourth quarter of 2011 and an increase of 27 basis points from the first quarter of 2011. 1

Although interest income, adjusted for the net impact of covered loan dispositions, decreased $4.5 million or 2% to $239.3 million in the first quarter as compared to prior quarter, correspondingly, interest expense decreased $4.7 million or 12% from the prior quarter to $35.1

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million for the first quarter of 2012, resulting in a net increase to adjusted net interest income of $173 thousand. The cost of funds decreased 8 basis points from 0.83% in the fourth quarter of 2011 to 0.75% in the first quarter of 2012.

The reduction in interest expense and the cost of funds is primarily due to management’s proactive actions to reduce high-cost time deposits and due to the strong growth in demand deposits during the quarter. During the first quarter, the Company reduced both the balance of time deposits by 5% and also the average cost of time deposits, which decreased from 1.01% in the fourth quarter of 2011 to 0.88% in the first quarter of 2012. In addition, the average rate for other interest-bearing deposits also declined during the first quarter of 2012, resulting in an overall reduction in the cost of deposits of 8 basis points to 0.47% from 0.55% in the prior quarter.

Further, the decrease in total interest expense in the first quarter of 2012 also stemmed from the prepayment and restructuring of FHLB advances and securities sold under long-term repurchase agreements as discussed earlier in this earning release. During the first quarter of 2012, the Company prepaid $20.0 million in FHLB advances and modified $300.0 million of FHLB advances and $200.0 million of long-term repurchase agreements.

Management expects to maintain a relatively stable net interest margin and expects the adjusted net interest margin to be approximately 4.00% for the second quarter and remainder of 2012.

Noninterest Income & Expense

The Company reported total noninterest income for the first quarter of 2012 of $21.7 million, an increase from $937 thousand in the fourth quarter of 2011 and $11.0 million in the first quarter of 2011. The increase in noninterest income from the prior quarter and prior year is primarily attributable to a decrease in the net reduction of the FDIC indemnification asset and FDIC receivable. Branch fees, letter of credit and foreign exchange income, loan fees and other operating income also increased and totaled $21.6 million in the first quarter of 2012, as compared to $17.2 million in the fourth quarter of 2011 and $19.0 million in the first quarter of 2011. In addition, included in noninterest income for the first quarter of 2012 were gains on sales of loans of $5.2 million, and gains on sales of investment securities of $483 thousand. A summary of these fees and other income for the first quarter 2012, compared to the fourth quarter of 2011 and first quarter of 2011, is detailed below:

Noninterest expense totaled $114.8 million for the first quarter of 2012, an increase of $8.1 million from the fourth quarter of 2011 and $8.0 million from the first quarter of 2011.

Noninterest expense, excluding amounts to be reimbursed by the FDIC and prepayment penalties for FHLB advances, totaled $101.3 million for the first quarter of 2012. 1 A summary of the

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noninterest expense for the first quarter 2012, compared to the fourth quarter of 2011 and first quarter of 2011, is detailed below:

Total noninterest expense for the first quarter, excluding amounts to be reimbursed by the FDIC and prepayment penalties for FHLB advances, increased $3.2 million or 3% from the fourth quarter of 2011 to $101.3 million. The increase in noninterest expense was largely due to an increase in compensation and employee benefits of $5.3 million or 13% in the first quarter of 2012, as compared to the prior quarter.  This increase in compensation and employee benefits was primarily due to a reduced offset to compensation expense from deferred loan costs due to a decrease in origination volume and also an increase in payroll taxes.

Credit cycle costs including other real estate owned expense, loan related expense, and legal expense totaled $22.5 million for the first quarter 2012, as compared to $21.9 million for the fourth quarter 2011 and $17.9 million for the first quarter of 2011. Of the total credit cycle costs incurred in the first quarter, $15.2 million related to covered loans and real estate owned for which we expect that 80% or $12.1 million is reimbursable by the FDIC.

Management anticipates that for the second quarter of 2012, noninterest expense will total approximately $100.0 million, net of amounts reimbursable from the FDIC.

The effective tax rate for the first quarter was 36.8% as compared to 35.9% in the prior quarter. The effective tax rate is reduced from the statutory tax rate primarily due to the utilization of tax credits related to affordable housing investments.

Credit Quality

During the first quarter of 2012, East West significantly reduced both net charge-offs and nonperforming assets.  Total net charge-offs decreased to $10.3 million for the first quarter of 2012, a decrease of 53% or $11.5 million from the previous quarter and a decrease of 70% or $23.9 million compared to the prior year. Gross charge-offs totaled $16.8 million and recoveries totaled $6.5 million for the first quarter of 2012.  Additionally, nonaccrual loans excluding covered loans, decreased to $120.8 million as of March 31, 2012. The total nonperforming assets excluding covered assets, to total assets ratio was under 1.00% for the tenth consecutive quarter with nonperforming assets of $167.1 million or 0.77% of total assets at March 31, 2012.

The provision for loan losses was $18.1 million for the first quarter of 2012, a decrease of 10% or $1.9 million from the prior quarter, and a decrease of 32% or $8.4 million as compared to the

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first quarter of 2011. Our provision for loan losses has declined for several quarters as a result of credit quality improvement. East West continues to maintain a strong allowance for noncovered loan losses at $214.3 million or 2.04% of noncovered loans receivable at March 31, 2012. This compares to an allowance for noncovered loan losses of $209.9 million or 2.04% of noncovered loans at December 31, 2011.

Capital Strength

(Dollars in millions)

Our capital ratios remain very strong. As of March 31, 2012, our Tier 1 leverage capital ratio totaled 9.5%, our Tier 1 risk-based capital ratio totaled 15.1% and our total risk-based capital ratio totaled 16.7%. East West exceeds well capitalized requirements for all regulatory guidelines by $900 million or more. The Company is focused on active capital management and is committed to maintaining strong capital levels that exceed regulatory requirements while also supporting balance sheet growth and providing a strong return to our shareholders. During the first quarter of 2012, the Company repurchased 4.6 million shares of common stock at an average cost of $22.14 per share, or $100.9 million in total. Under the repurchase program authorized by East West’s Board of Directors earlier in the year, management has the authority to repurchase up to a total of $200.0 million of the Company’s common stock.

Dividend Payout

East West’s Board of Directors has declared second quarter dividends on the common stock and Series A Preferred Stock. The common stock cash dividend of $0.10 is payable on or about May 24, 2012 to shareholders of record on May 10, 2012. The dividend on the Series A Preferred Stock of $20.00 per share is payable on May 1, 2012 to shareholders of record on April 15, 2012.

Conference Call

East West will host a conference call to discuss first quarter 2012 earnings with the public on Wednesday, April 18, 2012 at 8:30 a.m. PDT/ 11:30 a.m. EDT. The public and investment community are invited to listen as management discusses first quarter results and operating developments. The following dial-in information is provided for participation in the conference call: Local call within the US – (877) 317-6789; Call within Canada – (866) 605-3852; International call – (412) 317-6789.  A listen-only live broadcast of the call also will be available on the investor relations page of the Company’s website at www.eastwestbank.com.

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About East West

East West Bancorp is a publicly owned company with $21.7 billion in assets and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California. East West is a premier bank focused exclusively on the United States and Greater China markets and operates over 130 locations worldwide, including in the United States markets of California, New York, Georgia, Massachusetts, Texas and Washington. In Greater China, East West’s presence includes a full service branch in Hong Kong and representative offices in Beijing, Shenzhen and Taipei.  Through a wholly-owned subsidiary bank, East West’s presence in Greater China also includes full service branches in Shanghai and Shantou and a representative office in Guangzhou. For more information on East West Bancorp, visit the Company’s website at www.eastwestbank.com.

Forward-Looking Statements

Certain matters set forth herein (including any exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations regarding future operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, local, regional, national and international economic, political or industry conditions and events and the impact they may have on us and our customers; our ability to attract deposits and other sources of liquidity; continued deterioration in values of real estate in California and other states where our bank makes loans, both residential and commercial; our ability to manage the loan portfolios acquired from FDIC-assisted acquisitions within the limits of the loss protection provided by the FDIC; changes in the financial performance and/or condition of our borrowers; changes in the level of non-performing assets, reserve requirements, and charge-offs; the effect of changes in laws, regulations, and accounting standards, and related costs of these changes;  inflation, interest rate, securities market and monetary fluctuations; changes in the competitive environment among financial and bank holding companies and other financial service providers; changes in our organization, management; the adequacy of our enterprise risk management framework; the ability to manage our growth and the effect of acquisitions we may make and the integration of acquired businesses and branching efforts; our success at managing the risks involved in the foregoing items and other factors set forth in the Company’s public reports including its Annual Report on Form 10-K for the year ended December 31, 2011, and particularly the discussion of risk factors within that document.

1 See reconciliation of the GAAP financial measure to the non-GAAP financial measure in the tables attached.

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EAST WEST BANCORP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(unaudited)

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EAST WEST BANCORP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

(unaudited)

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EAST WEST BANCORP, INC.

SELECTED FINANCIAL INFORMATION

(In thousands)

(unaudited)

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EAST WEST BANCORP, INC.

QUARTER TO DATE AVERAGE BALANCES, YIELDS AND RATES PAID

(In thousands)

(unaudited)

(1)   Annualized.

(2)   Amounts exclude the net impact of covered loan dispositions and amortization of the FDIC indemnification asset of $14.7 million and $26.9 million for the three months ended March 31, 2012 and 2011, respectively.

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EAST WEST BANCORP, INC.

QUARTERLY ALLOWANCE FOR LOAN LOSSES RECAP

(In thousands)

(unaudited)