East West Bancorp Inc. plans to expand into more Asian supermarket locations following his bank's acquisition of United Commercial Bank's $6.5 billion in deposits. None of the United Commercial Bank's branches acquired in the deal will close. The Sacramento branch of United Commercial has been converted to an East West branch. The acquisition could lead East West to begin inserting in-store branches at Northern California sites of 99 Ranch Market. East West has exclusive rights to open in-store branches at all 99 Ranch Market locations. The market has stores in about 25 California cities, as well as in Arizona, Nevada, Washington, Texas and Georgia. So far the bank has more than a dozen in-store branches in Southern California, but has yet to open branches in Northern California stores. Locally the 99 Ranch Market chain has stores in Cupertino, Foster City, Fremont, Milpitas, Mountain View, Newark and San Jose. It would be six to nine months before the bank would be exploring the possibility of opening Northern California in-store branches. First order of business post-acquisition is systems integration, a task that poses minimal possibilities of disruption considering both institutions use Metavante and Digital Insight, two financial services software products. The banks offered almost identical products and services. In terms of management and staff, Ng said most of the personnel from each bank know one another quite well. The company also announced that its redundancies within the work force will undoubtedly lead to some layoffs, but wouldn't estimate how many positions might be lost.

To discuss the acquisition of the operations of United Commercial Bank in an FDIC assisted transaction

East West Bancorp Inc. announced unaudited condensed consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported a net loss after extraordinary item was $68.53 million and net loss available to common stockholders was $79.15 million or $0.91 per basic and diluted share on interest and dividend income of $147.92 million compared to net loss after extraordinary item of $31.21 million and net loss available to common stockholders of $35.29 million or $0.56 per basic and diluted share on interest and dividend income of $159.86 million for the same period a year ago. Net interest loss after provision for loan losses was $63.36 million compared to net interest income of $43.52 million for the same period a year ago. Loss before benefit for income taxes was $121.31 million compared to $48.56 million for the same period a year ago. For the nine months, the company reported a net loss after extraordinary item was $183.09 million and net loss available to common stockholders was $226.07 million or $3.19 per basic and diluted share on interest and dividend income of $439.18 million compared to net loss after extraordinary item of $52.05 million and net loss available to common stockholders of $56.14 million or $0.90 per basic and diluted share on interest and dividend income of $514.95 million for the same period a year ago. Net interest loss after provision for loan losses was $124.85 million compared to net interest income of $95.31 million for the same period a year ago. Loss before benefit for income taxes was $304.51 million compared to $85.96 million for the same period a year ago. Book value per common share $12.58. During the third quarter of 2009, the company reported an impairment loss on investment securities of $24.25 million compared to $53.57 million for the same period a year ago.