- Current report filing (8-K)
July 20 2009 - 6:33AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
July 20, 2009
Date of Report
(date of earliest event reported)
EAST
WEST BANCORP, INC.
(Exact name of registrant as specified in its charter)
Commission file number 000-24939
Delaware
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95-4703316
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(State or Other
Jurisdiction of Incorporation or Organization)
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(IRS Employer
Identification Number)
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135
N Los Robles Ave., 7th Floor, Pasadena, California 91101
(Address of principal executive offices including zip code)
(626) 768-6000
(Registrants
telephone number, including area code)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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 Companys
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 Companys
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 Companys 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 Companys
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 Companys 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 Companys current
business environment.
Item
9.01. Financial Statements and Exhibits.
23.1
Consent of
Deloitte & Touche LLP, Independent Registered Public Accounting Firm
99.1
Item 7.
Managements Discussion and Analysis of Financial Condition and Results of
Operations
99.2
Item 15.
(a)
Financial Statements, Schedules and Exhibits
2
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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EAST
WEST BANCORP, INC.
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By:
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/s/
Thomas J. Tolda
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Thomas
J. Tolda
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Executive
Vice President and Chief Financial Officer
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Date:
July 20, 2009
3
EXHIBIT INDEX
Exhibit No.
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Exhibit Name
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23.1
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Consent
of Deloitte & Touche LLP, Independent Registered Public Accounting
Firm
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99.1
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Item
7. Managements Discussion and Analysis of Financial Condition and Results of
Operations
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99.2
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Item
15.(a) Financial Statements, Schedules and Exhibits
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4
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