ITEM 3.02 Unregistered Sales of Equity Securities.

On June 29, 2009 and June 30, 2009, East West Bancorp, Inc. (the "Company") entered into agreements with certain shareholders (collectively, the "Shareholders"). Under the terms of such agreements, the Company and the Shareholders agreed to an exchange of 8,127,990 shares of the Company's common stock for 90,311 shares of the Company's 8.00% Non-Cumulative Perpetual Convertible Preferred Stock, Series A (the "Series A Preferred Stock") held by the Shareholders. The shares are expected to settle on or before July 10, 2009.

The shares of the Company's common stock that are being issued to the Shareholders are being issued pursuant to the exemption set forth in Section 3(a)(9) of the Securities Act of 1933, as amended, for securities exchanged by an issuer with its existing security holders, exclusively, where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.

Subsequent to the settlement of the exchanges, the Company's tangible common equity will increase by $90.3 million.

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