Financial Data and Key Metrics Changes - East West Bancorp reported record quarterly revenue, net income, and earnings per share for Q3 2025, with net interest income (NII) reaching an all-time high of $645 million, excluding $32 million from discount accretion and interest recoveries [5][12] - Total operating expenses were $261 million, which included a one-time compensation expense of $27 million related to equity award recognition [13][14] - The efficiency ratio for Q3 was reported at 35.6%, indicating strong operational efficiency [14] Business Line Data and Key Metrics Changes - Deposits grew by over $1.5 billion in Q3, with non-interest bearing deposits outpacing time deposit growth [8] - Fee income reached $92 million, marking a 13% year-over-year growth, with wealth management fees specifically growing by 36% [13] - Loan growth was steady, with over $800 million in fundings, and commercial real estate balances continued to grow, maintaining a low loan-to-value ratio [9][10] Market Data and Key Metrics Changes - The bank's asset quality metrics outperformed the industry, with net charge-offs at 13 basis points and total non-performing assets at 25 basis points as of September 30, 2025 [15][16] - The allowance for credit losses increased to $791 million, reflecting a proactive approach to managing credit risks amid economic uncertainty [16] Company Strategy and Development Direction - The company is focused on diversifying its deposit mix and optimizing its funding strategy, which has contributed to improved liquidity [5][8] - East West Bancorp plans to continue investing in its wealth management and fee-based services, indicating a strategic shift towards enhancing customer relationships and product offerings [6][42] - The bank is well-capitalized, with a tangible common equity ratio of 10.2%, and is considering opportunistic stock buybacks and potential dividend increases [17][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's ability to navigate economic uncertainties and highlighted the resilience of its customer base [52] - The outlook for net interest income and revenue growth is now projected to exceed 10% for the full year, reflecting improved deposit mix and credit performance [18][19] - Management remains cautious about loan growth in 2026, emphasizing the need for stability in the economic environment [25][76] Other Important Information - The bank repurchased approximately 25 million shares of common stock during the quarter, with $216 million remaining in repurchase authorization [17] - The upcoming dividend for Q4 2025 is scheduled to be payable on November 17, 2025 [17] Q&A Session Summary Question: Can you walk us through how you expect loan yields and deposit costs to perform with further rate cuts? - Management explained that deposit pricing is adjusted immediately following Fed actions, leading to a repricing benefit that may lag for loans [23] Question: What is driving the growth in non-interest bearing deposits? - The growth was attributed to increases in household, small business, and commercial accounts, indicating broad-based deposit growth [30] Question: What are the current credit metrics and any potential soft spots? - Management noted stable credit quality with low levels of problem loans, while maintaining vigilance in managing credit risks [32][34] Question: Can you discuss the growth in fee-based lines, particularly in wealth management? - The bank continues to invest in wealth management, hiring new talent and developing products to enhance client penetration and revenue [42] Question: What is the outlook for NII and expenses moving forward? - Management indicated that NII guidance includes recent interest recoveries, and expenses are expected to grow in line with revenue growth [85][88]

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