Cathay General Bancorp (NASDAQ: CATY) names Albert Wang as new CFO

Rhea-AI Filing Summary

Cathay General Bancorp announced a planned finance leadership transition. Long‑time Chief Financial Officer and Treasurer Heng W. Chen, who has served in these roles since 2003 at the company and since 2004 at Cathay Bank, will retire from his CFO and Treasurer positions effective March 1, 2026.

Chen will remain with Cathay Bank as Special Advisor to the Office of the President through December 31, 2026, with monthly compensation of $15,000. Albert J. Wang, currently Executive Vice President and Deputy Chief Financial Officer, will become Chief Financial Officer of Cathay Bank and Treasurer of the company on March 1, 2026, with an expected base salary of $500,000, plus cash and equity bonus opportunities consistent with his predecessor and a standard change of control employment agreement.

Wang, age 50, brings more than 28 years of finance and accounting experience, including senior roles at Webster Bank, Banc of California, Santander Bank and PricewaterhouseCoopers. The company states there are no family relationships or related‑party transactions requiring disclosure in connection with his appointment.

Insights

Banking governance and executive transitions analyst

Planned CFO retirement with an experienced internal successor looks orderly and continuity-focused.

The company outlines a scheduled transition where long-serving CFO Heng W. Chen steps down from his CFO and Treasurer roles on March 1, 2026 after more than two decades in senior finance positions. Rather than an abrupt departure, he remains as Special Advisor to the Office of the President through December 31, 2026, with monthly compensation of $15,000, which helps preserve institutional knowledge.

His successor, Albert J. Wang, is already Executive Vice President and Deputy CFO and is slated to become CFO of Cathay Bank and Treasurer of the company on March 1, 2026. He is expected to receive a base salary of $500,000, plus bonus opportunities aligned with his predecessor, and to enter the standard change of control agreement. The description of more than 28 years of relevant experience across multiple banks and a major audit firm, together with explicit confirmation of no related‑party relationships, frames this as a routine, planned leadership change rather than a disruptive event.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 23, 2026

CATHAY GENERAL BANCORP
(Exact name of registrant as specified in its charter)

Delaware		001-31830		95-4274680
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

777 North Broadway, Los Angeles, California       90012

(Address of principal executive offices)            (Zip Code)

Registrant’s telephone number, including area code: (213) 625-4700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	CATY	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 23, 2026, Heng W. Chen notified Cathay General Bancorp (the “Company”) that he will retire as Chief Financial Officer of the Company and Cathay Bank (“Cathay”) and Treasurer of the Company effective March 1, 2026. Mr. Chen has been the Chief Financial Officer and Treasurer of the Company since 2003 and Chief Financial Officer of Cathay Bank since 2004. Mr. Chen will continue to serve as Special Advisor to the Office of the President for Cathay Bank through December 31, 2026, but will no longer be a designated executive officer of Cathay. In connection with Mr. Chen’s new position, he will receive a monthly compensation of $15,000 through December 31, 2026.

Succeeding Mr. Chen, Albert J. Wang will be the Chief Financial Officer of Cathay and Treasurer of the Company effective March 1, 2026. In connection with his appointment, Mr. Wang is expected to receive compensation including a base salary of $500,000 and shall have opportunities to receive cash and equity bonus consistent with his predecessor, as disclosed in the Company’s proxy statement. He is also expected to enter into the Company’s standard form of change of control employment agreement filed as an exhibit to the Company’s Form 10K.

Albert J. Wang, age 50, has over 28 years of finance and accounting experience. Mr. Wang joined Cathay Bank as Executive Vice President and Deputy Chief Financial Officer in September 2025. Previously, he served as Executive Vice President, Chief Accounting Officer at Webster Bank from 2017 to 2025. Prior to that, Mr. Wang was the Chief Accounting Officer at Banc of California and served as its acting Chief Financial Officer. Earlier in his career, he held financial leadership roles at Santander Bank, most recently as its Chief Accounting Officer and was a Senior Manager at PricewaterhouseCoopers LLP focused on its banking and capital market clients. He is a certified public accountant who brings in-depth knowledge of publicly traded commercial banks. There are no family relationships between Mr. Wang and any director or executive officer of the Company, and there are no relationships between Mr. Wang and the Company that require disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release of Cathay General Bancorp, dated January 23, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: January 23, 2026	CATHAY GENERAL BANCORP
	By:	/s/ Heng W. Chen
		Heng W. Chen
		Executive Vice President and
		Chief Financial Officer

FAQ

What executive change did Cathay General Bancorp (CATY) announce?

The company announced that Heng W. Chen will retire as Chief Financial Officer of Cathay General Bancorp and Cathay Bank and as Treasurer of the company effective March 1, 2026, and that Albert J. Wang will assume the roles of Chief Financial Officer of Cathay Bank and Treasurer of the company on that date.

Will Heng W. Chen remain involved with Cathay General Bancorp (CATY) after retiring as CFO?

Yes. After his retirement as CFO and Treasurer effective March 1, 2026, Heng W. Chen will continue with Cathay Bank as Special Advisor to the Office of the President through December 31, 2026, receiving monthly compensation of $15,000.

Who is the new CFO at Cathay General Bancorp (CATY) and what is his background?

Albert J. Wang, age 50, will become Chief Financial Officer of Cathay Bank and Treasurer of the company on March 1, 2026. He joined Cathay Bank as Executive Vice President and Deputy CFO in September 2025 and previously held senior finance roles at Webster Bank, Banc of California, Santander Bank, and was a Senior Manager at PricewaterhouseCoopers.

What compensation will Albert J. Wang receive as CFO of Cathay General Bancorp (CATY)?

In connection with his appointment, Albert J. Wang is expected to receive a base salary of $500,000 and have opportunities to receive cash and equity bonuses consistent with his predecessor, as described in the company’s proxy statement. He is also expected to enter into the company’s standard form of change of control employment agreement.

Are there any related-party or family relationships disclosed for Albert J. Wang at Cathay General Bancorp (CATY)?

The company states there are no family relationships between Albert J. Wang and any director or executive officer, and no relationships requiring disclosure under Item 404(a) of Regulation S‑K.

When does the CFO transition at Cathay General Bancorp (CATY) take effect?

The transition is scheduled for March 1, 2026, when Heng W. Chen retires from his CFO and Treasurer roles and Albert J. Wang becomes Chief Financial Officer of Cathay Bank and Treasurer of the company.