EAST WEST BANCORP INC
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
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Noninterest Income
The following table presents the components of noninterest income for the first quarters of 2025 and 2024:
| Three Months Ended March 31, | |||
|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | % Change |
| Commercial and consumer deposit-related fees | $27,075 | $24,948 | 9% |
| Lending and loan servicing fees | 26,230 | 22,925 | 14% |
| Foreign exchange income | 15,837 | 11,469 | 38% |
| Wealth management fees | 13,679 | 8,637 | 58% |
| Customer derivative income | 4,069 | 3,750 | 9% |
| Net gains on AFS debt securities | 131 | 49 | 167% |
| Other investment income | 2,262 | 2,815 | (20)% |
| Other income | 2,819 | 3,894 | (28)% |
| Total noninterest income | $92,102 | $78,487 | 17% |
Noninterest income comprised 13% and 12% of total revenue for the first quarters of 2025 and 2024, respectively. Noninterest income for the first quarter of 2025 was $92 million, an increase of $14 million or 17%, compared with the same prior year period. The increase was primarily due to higher wealth management fees, foreign exchange income, lending and loan servicing, and commercial and consumer deposit-related fees.
Commercial and consumer deposit-related fees were $27 million for the first quarter of 2025, an increase of $2 million or 9%, compared with the first quarter of 2024. The year-over-year increase was primarily due to increase in analysis service fees due to increased commercial customer activity.
Lending and loan servicing fees were $26 million for the first quarter of 2025, an increase of $3 million or 14%, compared with the first quarter of 2024. The increase was primarily due to higher trade finance and credit enhancement fees driven by increased customer activity.
Foreign exchange income was $16 million for the first quarter of 2025, an increase of approximately $4 million or 38%, compared with the first quarter of 2024. The increase primarily reflected higher fees and the favorable valuation of certain foreign currency denominated balance sheet items, partially offset by losses on foreign exchange trades.
Wealth management fees were $14 million for the first quarter of 2025, an increase of $5 million or 58%, compared with the first quarter of 2024. The increase reflected higher customer demand for wealth management products such as fixed-rate bonds and fixed income annuities.
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