Welcome to our dedicated page for Cathay Gnl Bncp news (Ticker: CATY), a resource for investors and traders seeking the latest updates and insights on Cathay Gnl Bncp stock.
Cathay General Bancorp (NASDAQ: CATY) is the holding company for Cathay Bank, a California state‑chartered commercial bank founded in Los Angeles in 1962. This news page aggregates company‑specific announcements and disclosures so readers can follow how the bank’s operations, earnings, and capital decisions evolve over time.
News about Cathay General Bancorp frequently centers on quarterly and annual financial results, where the company reports net income, net interest margin, loan and deposit balances, asset quality metrics, and regulatory capital ratios. These earnings releases are often accompanied by conference call details and presentation materials, allowing analysts and investors to hear management’s commentary on performance and strategy.
Investors can also track capital management actions such as cash dividend declarations and share repurchase programs, which are disclosed through press releases and related SEC filings. Additional updates highlight non‑interest income trends, including depository service fees, letters of credit commissions, wealth management fees, and securities gains or losses.
Beyond financial results, Cathay General Bancorp and Cathay Bank issue news related to executive appointments, community and educational initiatives, and other corporate developments. Examples include participation in programs like the CFA Institute Research Challenge, which underscores the bank’s involvement in education, professional development, and community engagement.
For anyone following CATY stock or the commercial banking sector, this page offers a focused view of Cathay General Bancorp’s official announcements, helping readers monitor earnings, balance sheet trends, capital actions, and corporate milestones in one place.
Cathay General Bancorp (Nasdaq: CATY) has announced a quarterly cash dividend of $0.34 per common share. The dividend will be paid on December 9, 2024, to shareholders who are recorded as stockholders at the close of business on November 27, 2024.
The Cathay Bank Foundation has announced 20 recipients for its 2024 Scholarship program, receiving 720 applications, a 35% increase from last year. Each recipient will receive $2,500 towards tuition costs. Notable statistics show that 29% of applicants are first-generation college students and 90% are minorities. The Asian Pacific Community Fund administered the program, narrowing 720 applications to 487 qualified candidates, from which Cathay Bank volunteers selected the final 20 awardees across multiple states including California, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Texas, and Washington.
Cathay General Bancorp (Nasdaq: CATY) reported net income of $67.5 million, or $0.94 per diluted share, for the third quarter of 2024. Key highlights include:
- Net interest margin increased to 3.04% from 3.01% in Q2 2024
- Total deposits grew by $170.9 million to $19.94 billion
- Gross loans increased slightly to $19.37 billion
- Repurchased 0.8 million shares at an average cost of $42.0 per share
The company's performance showed improvement in several areas, including a 2.4% increase in net interest income before provision for credit losses. However, non-performing assets rose to $188.0 million, up 45.7% from Q2 2024. The allowance for loan losses represented 0.85% of period-end gross loans and 96.45% of non-performing loans.
Cathay General Bancorp (Nasdaq: CATY), the holding company for Cathay Bank, has announced it will release its third quarter 2024 financial results after market close on Monday, October 21, 2024. The company has scheduled a conference call and webcast for the same day at 3:00 p.m. Pacific Time (6:00 p.m. Eastern Time) to discuss the results.
Analysts and investors can participate in the question-and-answer session during the one-hour call. To join, participants should dial (833) 816-1377 using the Conference ID: 10193436. It is recommended to join 5 to 10 minutes before the scheduled start.
A live webcast will be available at www.cathaygeneralbancorp.com for those who wish to listen only. A recorded version will be accessible within 24 hours after the call and archived for one year.
Cathay General Bancorp (Nasdaq: CATY) has declared a cash dividend of $0.34 per common share. The dividend is payable on September 9, 2024, to stockholders of record at the close of business on August 29, 2024. This announcement demonstrates the company's commitment to returning value to shareholders and maintaining a consistent dividend policy. The declaration of a dividend often signals financial stability and confidence in the company's future prospects.
Cathay General Bancorp (CATY) reported net income of $66.8 million, or $0.92 per share, for Q2 2024. This includes $4.1 million from accelerated amortization of solar tax credit investments and a $1.4 million mark-to-market loss from equity securities. Key highlights:
- Net interest margin decreased to 3.01% from 3.05% in Q1 2024
- Diluted EPS decreased to $0.92 from $0.98 in Q1 2024
- New $125 million stock repurchase program announced
- Gross loans decreased 0.4% to $19.36 billion
- Total deposits decreased 0.4% to $19.77 billion
- Non-performing assets increased 3.1% to $129.0 million
The company maintains strong capital ratios, with a Tier 1 risk-based capital ratio of 13.26% and total risk-based capital ratio of 14.74% as of June 30, 2024.
Cathay General Bancorp (Nasdaq: CATY), the parent company of Cathay Bank, is set to release its second quarter 2024 financial results on Monday, July 22, 2024, after the market closes. The company will also hold a conference call and webcast at 3:00 p.m. Pacific Time (6:00 p.m. Eastern Time) on the same day to discuss the results. The call will include a question-and-answer session for analysts and investors. The live webcast will be accessible on the company's website, with a recorded version available for replay within 24 hours and archived for one year.
Cathay General Bancorp (Nasdaq: CATY), the holding company for Cathay Bank, has announced a new share repurchase program worth up to $125 million. The previous program, also valued at $125 million, concluded on February 21, 2023, having repurchased 2,897,628 shares at an average cost of $43.14 per share. The new repurchase initiative allows purchases on the open market or through privately negotiated transactions. Management will determine the timing, price, and volume of repurchases based on market conditions and relevant laws. As of this release, Cathay General Bancorp has approximately 72.8 million shares outstanding. The repurchase program can be modified, suspended, or terminated based on various factors, including market conditions and alternative investment opportunities.
Cathay General Bancorp (Nasdaq: CATY) has elected Ann Yee Kono and Elizabeth Woo as new members of the Board of Directors at the Company and Cathay Bank. The elections took place during the Annual Stockholder’s Meeting on May 13, 2024, and a subsequent Board meeting. Ann Yee Kono, CEO of Leda Advisory Group, has a rich background in finance with over 25 years of experience, including tenure at Ares Management Elizabeth Woo, a Lecturer of Accounting at UCLA, brings over 20 years of expertise in accounting and auditing, having held senior positions at Crowe and BDO. Executive Chairman Dunson K. Cheng expressed confidence in their strategic insights and contributions to Cathay’s growth.
Cathay General Bancorp (Nasdaq: CATY) has announced a cash dividend of $0.34 per common share.
The dividend will be payable on June 10, 2024, to stockholders who are on record as of May 30, 2024. This reflects the company's ongoing commitment to returning value to its shareholders.