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Cathay General Bancorp (CATY), a leading bank holding company with deep community roots and international financial expertise, provides this centralized news hub for stakeholders. Track all official press releases and verified news coverage spanning commercial banking developments, cross-border service expansions, and regulatory updates.
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The 2022 Cathay Bank | UCLA Anderson Forecast U.S.-China Annual Economic Report highlights the performance and future outlook of the U.S. and Chinese economies. The report notes the impact of the U.S.-China Phase I trade agreement and the ongoing global supply chain disruptions. Forecast director Jerry Nickelsburg and economist William Yu emphasize that despite previous disruptions, global supply chains continue to expand. The report is available in English and Chinese on Cathay Bank's and UCLA Anderson's websites, with updates planned throughout the year.
Cathay General Bancorp (CATY) declared a cash dividend of 34 cents per common share, payable on March 7, 2022, to stockholders of record on February 25, 2022. This announcement reflects the company's commitment to returning value to its shareholders. Cathay Bank operates multiple branches across California, New York, Washington, and other states, serving a diverse clientele since its founding in 1962.
Cathay General Bancorp (NASDAQ: CATY) announced the acquisition of HSBC Bank USA's West Coast retail market consumer banking and retail business banking operations. This strategic move adds 10 retail branches in California, enhancing Cathay Bank's network and client base. CEO Chang M. Liu emphasized that the acquisition will broaden the suite of products and services available to clients.
Cathay General Bancorp (NASDAQ: CATY) announced strong financial results for Q4 and the year ended December 31, 2021. Net income for Q4 reached $75.3 million, or $0.98 per share, marking a 6.3% increase year-over-year. For the full year, net income totaled $298.3 million, with an EPS of $3.80, a 30.3% rise from 2020. Total loans increased by $444.6 million (11.4% annualized) in Q4, and total deposits surged by $1.1 billion (24.7% annualized). The Company continues to maintain a strong capital position, with a Tier 1 risk-based capital ratio of 12.80%.
Cathay General Bancorp (NASDAQ: CATY) will announce its Q4 2021 and full-year financial results on January 27, 2022, post-market close. A conference call is scheduled for 3:00 PM PT where analysts and investors can ask questions. Participants are encouraged to join a few minutes early. Additionally, the call will be available via a live webcast and a recorded version for replay will be accessible for one year after the event.
Cathay General Bancorp (CATY) has declared a cash dividend of $0.34 per share, payable on December 9, 2021. This dividend will be distributed to stockholders recorded by the close of business on November 29, 2021. The announcement underscores the company's commitment to returning value to its shareholders while maintaining a solid operational foundation.
Cathay General Bancorp (CATY) reported a net income of $72.4 million or $0.93 per share for Q3 2021, a 27.5% increase from $56.8 million in Q3 2020. Total deposits rose to $17.0 billion, an increase of 5.6% since December 2020. Loans, excluding PPP, grew by 9.1% annualized. The net interest margin improved to 3.22%, while the efficiency ratio was 43.85%. However, there was a $3.1 million provision for credit losses, indicating caution amidst ongoing market uncertainties.
Cathay General Bancorp (Nasdaq: CATY) will release its third quarter 2021 financial results after market close on October 25, 2021. A conference call will follow on the same day at 3:00 p.m. PT, allowing analysts and investors to participate in a Q&A session. The live webcast can be accessed through their official website, with a recorded version available for replay within 24 hours post-call until October 25, 2022.
Cathay General Bancorp (CATY) has announced a new share repurchase program, authorizing the buyback of up to $125,000,000 in common stock. This follows the completion of a prior $75,000,000 program on August 5, 2021, where 1,832,481 shares were repurchased at an average cost of $40.93. The new repurchases may occur in open markets or private transactions, with flexibility regarding timing and amounts based on market conditions. Currently, there are approximately 77,860,539 shares outstanding.
Cathay General Bancorp (Nasdaq: CATY) has declared a cash dividend of $0.31 per common share. This dividend is payable on September 9, 2021, to stockholders of record on August 30, 2021. The company, founded in 1962, operates 37 branches in California and additional branches across several states. This decision signifies the board's commitment to returning value to shareholders.
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