PASADENA, Calif.--(BUSINESS WIRE)--Sep. 9, 2024--
East West Bank, the largest publicly traded bank headquartered in Southern California, today celebrated its 25th anniversary on the Nasdaq stock exchange. Chairman and CEO Dominic Ng rang Nasdaq’s opening bell to commemorate this milestone in the Bank’s history. “This is a momentous day for East West Bank,” said Dominic Ng. “Celebrating 25 years on Nasdaq is a testament to the trust our customers have placed in us and our unwavering commitment to helping them reach further.”
During Ng’s tenure as CEO, he has transformed East West from a $600 million savings and loan association into a global commercial bank with over $72 billion in assets. The Bank has earned recognition as the #1 top performing bank in its asset size by Bank Director for the past two years. East West also emerged from 2023’s regional banking disruption stronger than ever.
In his opening bell remarks, Ng highlighted that East West’s Nasdaq listing was pivotal for both the public and the Bank’s employees. “Getting listed on Nasdaq allowed the public to join us on our journey, and we wanted our associates to share in that as well,” said Ng. He launched the Bank’s “Spirit of Ownership” program in preparation for the Bank’s public listing. The annual program grants every employee, whether full- or part-time, stock distributions at Lunar New Year—a time that celebrates the Bank’s roots in the Asian American community. “Through public and employee ownership, we've ensured that everyone involved has a stake in our success,” Ng added.
East West Bank was founded in 1973 to address the needs of underserved communities often overlooked by mainstream financial institutions. Over the past 51 years, the Bank has grown from a single branch into a global institution that serves as a financial and cultural bridge between the U.S. and Asia. Recognized for its capital strength, diversified business model, and granular customer base, East West provides expertise to companies in the media, entertainment, private equity, infrastructure, healthcare, clean energy, technology, manufacturing, and commercial real estate sectors.
About East West Bank
East West Bank provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (NASDAQ: “EWBC”) with total assets of $72.5 billion as of June 30, 2024. The company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 110 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington. For more information on East West, visit us on LinkedIn, Instagram, Facebook, X or at www.eastwestbank.com.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240909339337/en/
Angie Tang
Director of Communications
T: (347) 849.9787
Janie Beaman
Sr. Manager, Communications & Media
T: (626) 768-6261
Source: East West Bank
