U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q
(Mark One)
[X] Quarterly report under Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended: September 30, 1998
[ ] Transition report under Section 13 or 15(d) of the Exchange Act
For the transition period from _____________ to _____________
Commission file number: 000-24939
East West Bancorp, Inc.
(Exact Name of Issuer as Specified in Its Charter)
Delaware 95-4703316
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
415 Huntington Drive
San Marino, California 91108
(Address of Principal Executive Offices)
(626) 583-3500
(Issuer's Telephone Number, Including Area Code)
(Former Name, Former Address and Former Fiscal Year, if Changed
Since Last Report)
Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes [ ] No [X]
Number of shares outstanding of each issuer's classes of common equity as of
December 23, 1998: 100
<PAGE>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
EAST WEST BANCORP, INC.
BALANCE SHEET
(Unaudited)
At September 30, 1998
ASSETS:
Cash $ --
Total Assets $ --
===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities $ --
-----------
Stockholders' Equity:
Preferred Stock, $0.001 par value per share,
Authorized - 5,000,000 shares;
Issued and Outstanding - none --
Common Stock, $0.001 par value per share,
Authorized - 50,000,000 shares;
Issued and Outstanding - none --
Additional Paid-in Capital $ --
-----------
Total Stockholders' Equity $ --
-----------
Total Liabilities and Stockholders' Equity $ --
===========
-1-
<PAGE>
EAST WEST BANCORP, INC.
STATEMENT OF INCOME
For the period beginning August 27, 1998 (date of incorporation)
to September 30, 1998
(Unaudited)
Net Income $ --
======
-2-
<PAGE>
EAST WEST BANCORP, INC.
STATEMENT OF CASH FLOWS
For the period beginning August 27, 1998 (date of incorporation)
to September 30, 1998
(Unaudited)
Cash flows from operating, financing and investing activities $ --
===========
Net cash provided by operating,
financing and investing activities $ --
===========
Cash and cash equivalents at beginning of period $ --
-----------
Cash and cash equivalents at end of period $ --
===========
-3-
<PAGE>
EAST WEST BANCORP, INC.
NOTES TO FINANCIAL STATEMENTS
Note 1. Incorporation and Organization
East West Bancorp, Inc. ("Registrant") was incorporated on August 27, 1998
at the direction of East-West Bank (the "Bank"), for the purpose of becoming
a bank holding company by acquiring all of the outstanding Bank Common Stock
(the"Reorganization"). As of September 30, 1998, no shares were issued and
outstanding. The Registrant has conducted no operations during the period
ended September 30, 1998.
Note 2. Subsequent Events
On November 13, 1998, the Securities and Exchange Commission deemed
effective a Registration Statement on Form S-4 whereby the Registrant,
a Delaware corporation, offered 23,775,000 shares of its common stock,
par value $0.001 per share (the "Common Stock"), to shareholders of the Bank
in connection with the Reorganization.
The Reorganization has received regulatory and shareholder approval and
the Registrant expects to consummate the Reorganization in late December 1998
or early January 1998 upon receipt of appropriate state tax clearances.
Item 2. Management's Discussion and Analysis
As of September 30, 1998, the Registrant had not yet begun operations
or had no assets or liabilities.
On November 13, 1998, the Securities and Exchange Commission deemed
effective a Registration Statement on Form S-4 whereby the Registrant offered
23,775,000 shares of its Common Stock to shareholders of the Bank in connection
with the Reorganization.
The Reorganization has received regulatory and shareholder approval
and the Registrant expects to consummate the Reorganization in late
December 1998 or early January 1998 upon receipt of appropriate state tax
clearances.
-4-
<PAGE>
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
Not applicable.
Items 2-5.
Not applicable.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
Not applicable.
(b) Reports on Form 8-K
None
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, thereunto duly authorized.
EAST WEST BANCORP, INC.
Date: December 28, 1998 By: /s/ Dominic Ng
-------------------
Dominic Ng
President and Chief Executive Officer
Date: December 28, 1998 /s/ Julia S. Gouw
--------------------
Julia S. Gouw
Chief Financial Officer
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