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Cathay General Bancorp reports developments for Cathay Bank, a regional bank serving individuals, professionals, and small to medium-sized businesses, including Chinese-American communities. News centers on quarterly and annual operating results, loan balances and composition, non-interest income sources, deposit and credit activity, and bank service lines such as treasury management, international banking, merchant services, and wealth management.
Corporate updates also cover common-stock dividends, share repurchase authorizations, board and executive leadership changes, and conference-call materials tied to financial results. These items reflect the capital-management, governance, and performance disclosures of a Nasdaq-listed bank holding company.
Cathay General Bancorp (NASDAQ: CATY) announced robust financial results for Q4 and the year ended December 31, 2022, reporting net income of $97.6 million for Q4 and $360.6 million for the full year, representing a 20.9% increase YoY. Earnings per share (EPS) rose to $4.83 from $3.80 the previous year, reflecting a 35.7% increase for the quarter. The total loans increased by 8.3% to $18.3 billion. However, non-interest income declined by 38.9% to $12.1 million. The efficiency ratio improved to 38.0% from 41.8% in the previous year. The Company maintains a strong capital position with a Tier 1 risk-based capital ratio of 12.19%. A conference call is scheduled for January 25, 2023, to discuss these results.
Cathay General Bancorp (Nasdaq: CATY) will release its fourth quarter and full year 2022 financial results on January 25, 2023, after market close. A conference call is scheduled for 3:00 PM PT (6:00 PM ET) to discuss these results, allowing analysts and investors to engage in a Q&A session. Participants are encouraged to join 5-10 minutes early. A live webcast will be available at www.cathaygeneralbancorp.com, with a replay offered within 24 hours for one year.
Cathay General Bancorp (NASDAQ: CATY) has declared a cash dividend of 34 cents per common share. This dividend is payable on December 9, 2022, to shareholders of record as of the close of business on November 29, 2022. Founded in 1962, Cathay Bank operates 44 branches in California, alongside additional branches across several states and internationally. The bank provides a range of financial services to its customers.
Cathay General Bancorp (CATY) reported a robust net income of $99.0 million for Q3 2022, marking a 36.7% increase from Q3 2021. Earnings per share rose to $1.35, up 45.2% year-over-year. Key highlights include a 7.8% annualized increase in total loans to $18.1 billion and a net interest margin improvement to 3.83%. However, non-interest income decreased 18.9% due to unrealized losses on equity securities. The effective tax rate increased to 23.8% from 19.1% a year earlier. The company remains well-capitalized under Basel III standards.
Cathay Bank released the 2022 Fall Update of the U.S.-China Economic Report in collaboration with UCLA Anderson Forecast. This report analyzes international trade trends, the U.S. economic outlook amid inflation and rising interest rates, and the slowing economy in China, attributed to its real estate crisis and zero-COVID policies. Despite these challenges, China continues to be a significant global manufacturing and export powerhouse. The report highlights ongoing economic ties between the U.S. and China, emphasizing their importance in finance and trade.
Cathay Bank has released the U.S.-China Economic Report 2022 Fall Update, detailing shifts in international trade and global supply chains, indicating a potential slowdown in U.S. economic growth due to challenges in China's economy, such as the real estate crisis and ongoing zero-COVID policies. The report highlights that while there is a decoupling in sectors like technology, U.S. and China will remain interconnected in trade and finance for the foreseeable future.
Cathay General Bancorp (NASDAQ: CATY) is set to report its third quarter 2022 financial results on October 24, 2022, after market close. A conference call will follow at 3:00 p.m. PT (6:00 p.m. ET) for analysts and investors, lasting approximately one hour. Participants can dial in at (866) 652-5200 using the conference code 10171990. The call will also be accessible via a live webcast at cathaygeneralbancorp.com, with a replay available within 24 hours.
Cathay General Bancorp (NASDAQ: CATY) announced a cash dividend of 34 cents per common share. This dividend will be payable on September 9, 2022, to stockholders recorded by the close of business on August 30, 2022. Founded in 1962, Cathay General Bancorp is the holding company for Cathay Bank, which provides a variety of financial services and operates numerous branches across the U.S. and beyond.
Cathay General Bancorp (CATY) reported a strong second quarter 2022, with net income of $89.0 million ($1.18 per share), up 15.3% from $77.2 million in Q2 2021. Total loans reached $17.8 billion, marking a 9.5% annualized increase, driven by significant growth in residential mortgages. Net interest income increased 18.4% to $175.1 million. The efficiency ratio improved to 39.1%. However, non-accrual loans decreased to $60.7 million, reflecting asset quality. The company maintains a healthy capital position with a Tier 1 risk-based capital ratio of 12.18%.
Cathay General Bancorp (NASDAQ: CATY) will announce its Q2 2022 financial results after market close on July 25, 2022. The company has planned a conference call at 3:00 PM PT for analysts and investors to discuss the results, featuring a question-and-answer session. Participants are encouraged to join 5-10 minutes early for the call, which is expected to last one hour. A live webcast will also be available and archived for one year on the company’s website.