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Form 8-K

sec.gov

8-K — CATHAY GENERAL BANCORP

Accession: 0001437749-26-024142

Filed: 2026-07-22

Period: 2026-07-22

CIK: 0000861842

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — caty20260722_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_991410.htm)

EX-99.2 — EXHIBIT 99.2 (ex_991411_source.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: caty20260722_8k.htm · Sequence: 1

caty20260722_8k.htm

false

0000861842

0000861842

2026-07-22

2026-07-22

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): July 22, 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 2.02         Results of Operations and Financial Condition.

On July 22, 2026, Cathay General Bancorp (the “Company”) announced, in a press release, its financial results for the quarter ended June 30, 2026. That press release is attached hereto as Exhibit 99.1.

Item 7.01.          Regulation FD Disclosure

As announced in the press release attached hereto as Exhibit 99.1, the Company will host a conference call on Wednesday, July 22, 2026 at 3:00 p.m. Pacific Time to discuss its second quarter 2026 financial results. A presentation to accompany the conference call, which contains certain historical and forward-looking information relating to the Company (the “Presentation Materials”), has been made available on its website at www.cathaygeneralbancorp.com. A copy of the Presentation Materials is attached hereto as Exhibit 99.2.

The information included in this report pursuant to Item 2.02 and Item 7.01 of Form 8-K (including Exhibit 99.1 and Exhibit 99.2) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Item 9.01         Financial Statements and Exhibits.

(d)

Exhibits

99.1

Press Release of Cathay General Bancorp, dated July 22, 2026

99.2

Presentation Materials, dated July 22, 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.

CATHAY GENERAL BANCORP

Date: July 22, 2026

By:

/s/ Albert J. Wang

Albert J. Wang

Executive Vice President and

Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_991410.htm · Sequence: 2

ex_991410.htm

Exhibit 99.1

FOR IMMEDIATE RELEASE

For:

Cathay General Bancorp

Contact:

Albert J. Wang

777 N. Broadway

626) 279-3695

Los Angeles, CA 90012

Cathay General Bancorp Announces Second Quarter 2026 Results

Los Angeles, Calif., July 22, 2026: Cathay General Bancorp (the “Company”, “we”, “us”, or “our”) (Nasdaq: CATY), the holding company for Cathay Bank, today announced its unaudited financial results for the quarter ended June 30, 2026. The Company reported net income of $92.2 million, or $1.37 per diluted share, for the second quarter of 2026 compared to $86.9 million, or $1.29 per diluted share for the first quarter of 2026.

“We delivered strong second quarter results, with higher earnings driven by continued net interest margin expansion and disciplined execution across the franchise. Improved profitability reflects the strength of our relationships and the resilience of our business model." said Chang M. Liu, President and Chief Executive Officer of the Company. "We remain focused on maintaining strong credit quality, prudently managing the balance sheet, and supporting the financial needs of our clients. We believe these fundamentals, along with thoughtful capital management, will continue to support long-term value creation for our shareholders.”

FINANCIAL PERFORMANCE

​

​

Three months ended

​

(unaudited)

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

Net income (in millions)

​

$

92.2

​

​

$

86.9

​

​

$

77.5

​

Basic earnings per common share

​

$

1.38

​

​

$

1.30

​

​

$

1.11

​

Diluted earnings per common share

​

$

1.37

​

​

$

1.29

​

​

$

1.10

​

Return on average assets

​

​

1.52

%

​

​

1.47

%

​

​

1.33

%

Return on average total stockholders' equity

​

​

12.21

%

​

​

11.88

%

​

​

10.72

%

Efficiency ratio

​

​

41.53

%

​

​

40.35

%

​

​

45.34

%

SECOND QUARTER HIGHLIGHTS

●

Net interest margin increased to 3.48% during the second quarter from 3.43% in the first quarter of 2026.

●

Total loans, excluding loans held for sale, increased to $20.62 billion, or 2.21%, from $20.17 billion in the first quarter of 2026.

●

Total deposits increased $386.0 million, or 1.87%, to $21.06 billion in the second quarter of 2026.

●

The Company’s Board approved an increase to its existing share repurchase authorization from $150 million to $200 million, with no change to the current authorization expiration date that is subject to regulatory approval which is currently pending1/2/, and approved the redemption of $54.1 million of trust preferred securities, representing approximately 45% of the Company's $119.1 million of outstanding trust preferred securities2/.

1/

There can be no assurance if and when such regulatory approval will be received, but the company will announce the commencement of such additional buyback program if and when such approval is received.

2/   The Board may also suspend, terminate or modify these authorizations at any time for any reason.

INCOME STATEMENT REVIEW

SECOND QUARTER 2026 COMPARED TO THE FIRST QUARTER 2026

Net income for the quarter ended June 30, 2026, was $92.2 million, an increase of $5.3 million, or 6.1%, compared to net income of $86.9 million for the first quarter of 2026. Diluted earnings per share for the second quarter of 2026 was $1.37 per share compared to $1.29 per share for the first quarter of 2026.

Return on average stockholders’ equity was 12.21% and return on average assets was 1.52% for the quarter ended June 30, 2026, compared to a return on average stockholders’ equity of 11.88% and a return on average assets of 1.47% in the first quarter of 2026.

Net interest income before provision for credit losses

Net interest income before provision for credit losses increased $6.7 million, or 3.5%, to $200.9 million during the second quarter of 2026, compared to $194.2 million in the first quarter of 2026. The increase was due primarily to an increase in interest income from loans and securities and a decrease in deposit interest expense.

The net interest margin was 3.48% for the second quarter of 2026 compared to 3.43% for the first quarter of 2026.

For the second quarter of 2026, the yield on average interest-earning assets was 5.66%, the cost of funds on average interest-bearing liabilities was 2.89%, and the cost of average interest-bearing deposits was 2.86%. In comparison, for the first quarter of 2026, the yield on average interest-earning assets was 5.70%, the cost of funds on average interest-bearing liabilities was 2.99%, and the cost of average interest-bearing deposits was 2.96%. The decrease in the cost of funds on average interest-bearing liabilities resulted mainly from lower interest rates on deposits driven by the lower repricing of maturing time deposits in the second quarter. The decrease in the yield on average interest-earning assets resulted mainly from lower interest rates on loans. The net interest spread, defined as the difference between the yield on average interest-earning assets and the cost of funds on average interest-bearing liabilities, was 2.77% for the second quarter of 2026, compared to 2.71% for the first quarter of 2026.

Provision for credit losses

The Company recorded a provision for credit losses of $11.2 million in the second quarter of 2026 compared to $18.2 million in the first quarter of 2026. As of June 30, 2026, the allowance for loan losses increased by $10.1 million to $218.9 million, or 1.06% of gross loans, compared to $208.8 million, or 1.03% of gross loans as of March 31, 2026.

The following table sets forth the charge-offs and recoveries for the periods indicated:

​

​

Three months ended

​

​

Six months ended June 30,

​

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

2026

​

​

2025

​

​

​

(In thousands) (Unaudited)

​

​

​

​

​

​

​

​

​

Charge-offs:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​Commercial loans

​

$

2,743

​

​

$

7,971

​

​

$

9,117

​

​

$

10,714

​

​

$

11,461

​

​Real estate loans

(1)

​

​

—

​

​

​

1,385

​

​

​

3,913

​

​

​

1,385

​

​

​

3,913

​

​Total charge-offs

​

​

2,743

​

​

​

9,356

​

​

​

13,030

​

​

​

12,099

​

​

​

15,374

​

Recoveries:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​Commercial loans

​

​

852

​

​

​

4,931

​

​

​

196

​

​

​

5,783

​

​

​

465

​

​Construction loans

​

​

—

​

​

​

—

​

​

​

—

​

​

​

—

​

​

​

1

​

​Real estate loans

(1)

​

​

42

​

​

​

2,302

​

​

​

93

​

​

​

2,344

​

​

​

190

​

​Total recoveries

​

​

894

​

​

​

7,233

​

​

​

289

​

​

​

8,127

​

​

​

656

​

Net charge-offs

​

$

1,849

​

​

$

2,123

​

​

$

12,741

​

​

$

3,972

​

​

$

14,718

​

(1)

Real estate loans include commercial real estate loans, residential mortgage loans and equity lines.

Non-interest income

Non-interest income, which includes revenues from depository service fees, letters of credit commissions, securities gains (losses), wealth management fees, and other sources of fee income, was $21.4 million for the second quarter of 2026, an increase of $0.7 million, or 3.4%, compared to $20.7 million for the first quarter of 2026. The increase was primarily due to a $5.1 million reduction in losses related to investment securities repositioning activities and an increase of $0.8 million in wealth management fees partially offset by a decrease of $5.7 million in unrealized gains from equity securities, compared to the first quarter of 2026.

Non-interest expense

Non-interest expense increased $5.6 million, or 6.5%, to $92.3 million in the second quarter of 2026 compared to $86.7 million in the first quarter of 2026. The increase in non-interest expense in the second quarter of 2026 was primarily due to an increase of $3.1 million in amortization expense of investments of low income housing and alternative energy partnerships, an increase of $1.2 million in salaries and employee benefits, and an increase of $0.9 million in director fees offset, in part, by a decrease of $1.2 million in other real estate owned expense, when compared to the first quarter of 2026. The efficiency ratio, defined as non-interest expense divided by the sum of net interest income before provision for loan losses plus non-interest income, was 41.53% in the second quarter of 2026 compared to 40.35% for the first quarter of 2026.

Income taxes

The effective tax rate for the second quarter of 2026 was 22.35% compared to 20.98% for the first quarter of 2026. The effective tax rate for the second quarter of 2026 and first quarter of 2026 includes the impact of low-income housing tax credits.

BALANCE SHEET REVIEW

Gross loans, excluding loans held for sale, were $20.62 billion as of June 30, 2026, an increase of $446.7 million, or 2.2%, from $20.17 billion as of March 31, 2026. The increase was primarily due to an increase of $242.4 million, or 7.4%, in commercial loans, $190.6 million, or 1.8%, in commercial real estate loans, $53.6 million, or 0.9%, in residential real estate loans offset, in part, by a decrease of $40.7 million, or 14.1%, in construction loans.

The loan balances and composition as of June 30, 2026, compared to March 31, 2026, and June 30, 2025, are presented below:

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

​

(In thousands) (Unaudited)

​

Commercial loans

​

$

3,524,945

​

​

$

3,282,557

​

​

$

3,194,724

​

Construction loans

​

​

248,375

​

​

​

289,042

​

​

​

301,125

​

Commercial real estate loans

​

​

10,779,326

​

​

​

10,588,726

​

​

​

10,363,109

​

Residential mortgage loans

​

​

5,832,159

​

​

​

5,778,531

​

​

​

5,692,142

​

Equity lines

​

​

234,265

​

​

​

233,140

​

​

​

230,001

​

Installment and other loans

​

​

2,262

​

​

​

2,593

​

​

​

3,601

​

Gross loans

​

$

20,621,332

​

​

$

20,174,589

​

​

$

19,784,702

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for loan losses

​

​

(218,896

)

​

​

(208,786

)

​

​

(173,531

)

Unamortized deferred loan fees

​

​

(14,606

)

​

​

(14,164

)

​

​

(13,834

)

Total loans held for investment, net

​

$

20,387,830

​

​

$

19,951,639

​

​

$

19,597,337

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans held for sale

​

$

—

​

​

$

6,902

​

​

$

13,338

​

Total deposits were $21.06 billion as of June 30, 2026, an increase of $386.0 million, or 1.9%, from $20.68 billion as of March 31, 2026.

The deposit balances and composition as of June 30, 2026, compared to March 31, 2026, and June 30, 2025, are presented below:

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

​

(In thousands) (Unaudited)

​

Non-interest-bearing demand deposits

​

$

3,567,527

​

​

$

3,399,461

​

​

$

3,381,407

​

NOW deposits

​

​

2,612,011

​

​

​

2,336,121

​

​

​

2,174,108

​

Money market deposits

​

​

3,894,594

​

​

​

3,701,873

​

​

​

3,431,060

​

Savings deposits

​

​

1,421,969

​

​

​

1,518,300

​

​

​

1,317,104

​

Time deposits

​

​

9,565,547

​

​

​

9,719,892

​

​

​

9,702,651

​

Total deposits

​

$

21,061,648

​

​

$

20,675,647

​

​

$

20,006,330

​

ASSET QUALITY REVIEW

As of June 30, 2026, total non-accrual loans were $111.7 million, an increase of $22.7 million, or 25.5%, from $89.0 million as of March 31, 2026.

The allowance for loan losses was $218.9 million and the allowance for off-balance sheet unfunded credit commitments was $14.9 million as of June 30, 2026. The allowances represent the amount estimated by management to be appropriate to absorb expected credit losses inherent in the loan portfolio, including unfunded credit commitments. The allowance for loan losses represented 1.06% of period-end gross loans, and 195.97% of non-performing loans as of June 30, 2026. The comparable ratios were 1.03% of period-end gross loans, and 220.95% of non-performing loans as of March 31, 2026.

The changes in non-performing assets as of June 30, 2026, compared to March 31, 2026, and June 30, 2025, are presented below:

(In thousands) (Unaudited)

​

June 30, 2026

​

​

March 31, 2026

​

​

%

Change

​

​

June 30, 2025

​

​

%

Change

​

Non-performing assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accruing loans past due 90 days or more

​

$

—

​

​

$

5,491

​

​

​

(100

)

​

$

6,389

​

​

​

(100

)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-accrual loans:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction loans

—

—

—

4,230

(100

)

​Commercial real estate loans

​

​

70,157

​

​

​

51,091

​

​

​

37

​

​

​

93,754

​

​

​

(25

)

​Commercial loans

​

​

8,448

​

​

​

7,665

​

​

​

10

​

​

​

54,536

​

​

​

(85

)

​Residential mortgage loans

​

​

33,091

​

​

​

30,248

​

​

​

9

​

​

​

21,633

​

​

​

53

​

Total non-accrual loans:

​

$

111,696

​

​

$

89,004

​

​

​

25

​

​

$

174,153

​

​

​

(36

)

Total non-performing loans

​

​

111,696

​

​

​

94,495

​

​

​

18

​

​

​

180,542

​

​

​

(38

)

Other real estate owned

​

​

33,659

​

​

​

33,436

​

​

​

1

​

​

​

18,990

​

​

​

77

​

Total non-performing assets

​

$

145,355

​

​

$

127,931

​

​

​

14

​

​

$

199,532

​

​

​

(27

)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for loan losses

​

$

218,896

​

​

$

208,786

​

​

​

5

​

​

$

173,531

​

​

​

26

​

Allowance for off-balance sheet credit commitments

​

$

14,918

​

​

$

15,637

​

​

​

(5

)

​

$

9,892

​

​

​

51

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total gross loans outstanding, at period-end

​

$

20,621,332

​

​

$

20,174,589

​

​

​

2

​

​

$

19,784,702

​

​

​

4

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for loan losses to non-performing loans, at period-end

​

​

195.97

%

​

​

220.95

%

​

​

​

​

​

​

96.12

%

​

​

​

​

Allowance for loan losses to gross loans, at period-end

​

​

1.06

%

​

​

1.03

%

​

​

​

​

​

​

0.88

%

​

​

​

​

The ratio of non-performing assets to total assets was 0.59% as of June 30, 2026, compared to 0.53% as of March 31, 2026. Total non-performing assets increased $17.5 million, or 13.7%, to $145.4 million as of June 30, 2026, compared to $127.9 million as of March 31, 2026, primarily due to an increase of $22.7 million, or 25.5%, in non-accrual loans and $0.2 million, or 0.7%, in other real estate owned, offset, in part, by a decrease of $5.5 million, or 100.0% in accruing loans past due 90 days or more.

CAPITAL ADEQUACY REVIEW

As of June 30, 2026, the Company’s Tier 1 risk-based capital ratio of 13.70%, total risk-based capital ratio of 15.47%, and Tier 1 leverage capital ratio of 11.28%, calculated under the Basel III capital rules, exceeded applicable minimum regulatory capital requirements, including the fully phased-in 2.5% capital conservation buffer applicable to the risk-based capital ratios. As of March 31, 2026, the Company’s Tier 1 risk-based capital ratio was 13.47%, total risk-based capital ratio was 15.20%, and Tier 1 leverage capital ratio was 11.15%.

YEAR-TO-DATE REVIEW

Net income for the six months ending June 30, 2026, was $179.1 million, an increase of $32.1 million, or 21.8%, compared to net income of $147.0 million for the same period a year ago. Diluted earnings per share for the six months ending June 30, 2026 was $2.66 per share compared to $2.09 per share for the same period a year ago. The net interest margin for the six months ended June 30, 2026, was 3.45% compared to 3.26% for the same period a year ago.

Return on average stockholders’ equity was 12.05% and return on average assets was 1.50% for the six months ended June 30, 2026, compared to a return on average stockholders’ equity of 10.28% and a return on average assets of 1.27% for the same period a year ago. The efficiency ratio for the six months ended June 30, 2026, was 40.95% compared to 45.46% for the same period a year ago

CONFERENCE CALL

Cathay General Bancorp will host a conference call to discuss its second quarter 2026 financial results this afternoon, Wednesday, July 22, 2026, at 3:00 p.m., Pacific Time. Analysts and investors may dial in and participate in the question-and-answer session. To access the call, please dial 1-833-816-1377 and enter Conference ID 10210553. The presentation accompanying this call and access to the live webcast is available on our site at www.cathaygeneralbancorp.com and a replay of the webcast will be archived for one year within 24 hours after the event.

ABOUT CATHAY GENERAL BANCORP

Cathay General Bancorp is a publicly traded company (Nasdaq: CATY) and is the holding company for Cathay Bank, a California state-chartered bank.  Founded in 1962, Cathay Bank offers a wide range of financial services and currently operate over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. Overseas, it has a branch outlet in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. To learn more about Cathay Bank, please visit www.cathaybank.com. Cathay General Bancorp’s website is at www.cathaygeneralbancorp.com. Information set forth on such websites is not incorporated into this press release.

FORWARD-LOOKING STATEMENTS

Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management’s beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as “aims,” “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “predicts,” “potential,” “possible,” “optimistic,” “seeks,” “shall,” “should,” “will,” and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions of management and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising from local, regional, national and international business, market and economic conditions and events, the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors and the impact they may have on us, our customers and our operations, assets and liabilities; possible additional provisions for loan losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to including potential future supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation; higher capital requirements from the implementation of the Basel III capital standards; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; our ability to generate anticipated returns on our investments and financings, including in tax-advantaged projects; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; natural disasters, public health crises and geopolitical events; including wars and armed conflicts, and their resulting economic impacts; general economic or business conditions in Asia, and other regions where Cathay Bank has operations; failures, interruptions, or security breaches of our information systems; our ability to adapt our systems to technological changes; risk management processes and strategies; adverse results in legal proceedings; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in accounting standards or tax laws and regulations; market disruption and volatility; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuance of preferred stock; successfully raising additional capital, if needed, and the resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; and general competitive, economic political, and market conditions and fluctuations.

These and other factors are further described in Cathay General Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025 (Item 1A in particular), other reports filed with the Securities and Exchange Commission (“SEC”), and other filings Cathay General Bancorp makes with the SEC from time to time. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we undertake no obligation to update or review any forward-looking statement to reflect circumstances, developments or events occurring after the date on which the statement is made or to reflect the occurrence of unanticipated events.

CATHAY GENERAL BANCORP

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)

​

​

Three months ended

​

​

Six months ended June 30,

​

(In thousands, except per share data)

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

2026

​

​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial performance

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income before provision for credit losses

​

$

200,897

​

​

$

194,168

​

​

$

181,221

​

​

$

395,065

​

​

$

357,860

​

Provision for credit losses

​

​

11,240

​

​

​

18,193

​

​

​

11,200

​

​

​

29,433

​

​

​

26,700

​

Net interest income after provision for credit losses

​

​

189,657

​

​

​

175,975

​

​

​

170,021

​

​

​

365,632

​

​

​

331,160

​

Non-interest income

​

​

21,405

​

​

​

20,659

​

​

​

15,391

​

​

​

42,064

​

​

​

26,595

​

Non-interest expense

​

​

92,316

​

​

​

86,680

​

​

​

89,134

​

​

​

178,996

​

​

​

174,790

​

Income before income tax expense

​

​

118,746

​

​

​

109,954

​

​

​

96,278

​

​

​

228,700

​

​

​

182,965

​

Income tax expense

​

​

26,537

​

​

​

23,068

​

​

​

18,828

​

​

​

49,605

​

​

​

36,009

​

Net income

​

$

92,209

​

​

$

86,886

​

​

$

77,450

​

​

$

179,095

​

​

$

146,956

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income per common share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

1.38

​

​

$

1.30

​

​

$

1.11

​

​

$

2.67

​

​

$

2.09

​

Diluted

​

$

1.37

​

​

$

1.29

​

​

$

1.10

​

​

$

2.66

​

​

$

2.09

​

Cash dividends paid per common share

​

$

0.38

​

​

$

0.38

​

​

$

0.34

​

​

$

0.76

​

​

$

0.68

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Selected ratios

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average assets

​

​

1.52

%

​

​

1.47

%

​

​

1.33

%

​

​

1.50

%

​

​

1.27

%

Return on average total stockholders’ equity

​

​

12.21

%

​

​

11.88

%

​

​

10.72

%

​

​

12.05

%

​

​

10.28

%

Efficiency ratio

​

​

41.53

%

​

​

40.35

%

​

​

45.34

%

​

​

40.95

%

​

​

45.46

%

Dividend payout ratio

​

​

27.59

%

​

​

29.28

%

​

​

30.79

%

​

​

28.41

%

​

​

32.46

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Yield analysis (Fully taxable equivalent)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest-earning assets

​

​

5.66

%

​

​

5.70

%

​

​

5.83

%

​

​

5.68

%

​

​

5.86

%

Total interest-bearing liabilities

​

​

2.89

%

​

​

2.99

%

​

​

3.37

%

​

​

2.94

%

​

​

3.42

%

Net interest spread

​

​

2.77

%

​

​

2.71

%

​

​

2.46

%

​

​

2.74

%

​

​

2.44

%

Net interest margin

​

​

3.48

%

​

​

3.43

%

​

​

3.27

%

​

​

3.45

%

​

​

3.26

%

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

Capital ratios

Tier 1 risk-based capital ratio

​

​

13.70

%

​

​

13.47

%

​

​

13.35

%

Total risk-based capital ratio

​

​

15.47

%

​

​

15.20

%

​

​

14.92

%

Tier 1 leverage capital ratio

​

​

11.28

%

​

​

11.15

%

​

​

11.09

%

CATHAY GENERAL BANCORP

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share data)

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Cash and due from banks

​

$

163,976

​

​

$

135,540

​

​

$

190,011

​

Short-term investments and interest bearing deposits

​

​

1,163,120

​

​

​

1,069,943

​

​

​

1,056,964

​

Securities available-for-sale (amortized cost of $1,737,212 at June 30, 2026, $1,740,858 at March 31, 2026 and $1,746,703 at June 30, 2025)

​

​

1,682,820

​

​

​

1,678,140

​

​

​

1,648,433

​

Loans held for sale

​

​

—

​

​

​

6,902

​

​

​

13,338

​

Loans

​

​

20,621,332

​

​

​

20,174,589

​

​

​

19,784,702

​

Less:  Allowance for loan losses

​

​

(218,896

)

​

​

(208,786

)

​

​

(173,531

)

​Unamortized deferred loan fees, net

​

​

(14,606

)

​

​

(14,164

)

​

​

(13,834

)

​Loans, net

​

​

20,387,830

​

​

​

19,951,639

​

​

​

19,597,337

​

Equity securities

​

​

80,854

​

​

​

69,202

​

​

​

28,849

​

Federal Home Loan Bank stock

​

​

17,250

​

​

​

17,250

​

​

​

17,250

​

Other real estate owned, net

​

​

33,659

​

​

​

33,436

​

​

​

18,990

​

Affordable housing investments and alternative energy partnerships, net

​

​

293,553

​

​

​

287,283

​

​

​

289,550

​

Premises and equipment, net

​

​

90,613

​

​

​

88,464

​

​

​

89,556

​

Customers’ liability on acceptances

​

​

11,214

​

​

​

5,409

​

​

​

9,622

​

Accrued interest receivable

​

​

94,676

​

​

​

94,570

​

​

​

96,646

​

Goodwill

​

​

375,696

​

​

​

375,696

​

​

​

375,696

​

Other intangible assets, net

​

​

2,341

​

​

​

2,450

​

​

​

2,888

​

Right-of-use assets- operating leases

​

​

33,269

​

​

​

34,737

​

​

​

32,291

​

Other assets

​

​

221,948

​

​

​

197,969

​

​

​

256,426

​

Total assets

​

$

24,652,819

​

​

$

24,048,630

​

​

$

23,723,847

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Stockholders’ Equity

​

​

​

​

​

​

​

​

​

​

​

​

Deposits:

​

​

​

​

​

​

​

​

​

​

​

​

​Non-interest-bearing demand deposits

​

$

3,567,527

​

​

$

3,399,461

​

​

$

3,381,407

​

​Interest-bearing deposits:

​

​

​

​

​

​

​

​

​

​

​

​

​NOW deposits

​

​

2,612,011

​

​

​

2,336,121

​

​

​

2,174,108

​

​Money market deposits

​

​

3,894,594

​

​

​

3,701,873

​

​

​

3,431,060

​

​Savings deposits

​

​

1,421,969

​

​

​

1,518,300

​

​

​

1,317,104

​

​Time deposits

​

​

9,565,547

​

​

​

9,719,892

​

​

​

9,702,651

​

​Total deposits

​

​

21,061,648

​

​

​

20,675,647

​

​

​

20,006,330

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Advances from the Federal Home Loan Bank

​

​

—

​

​

​

—

​

​

​

412,000

​

Long-term debt

​

​

119,136

​

​

​

119,136

​

​

​

119,136

​

Acceptances outstanding

​

​

11,214

​

​

​

5,409

​

​

​

9,622

​

Lease liabilities - operating leases

​

​

35,114

​

​

​

36,581

​

​

​

34,304

​

Other liabilities

​

​

379,093

​

​

​

225,209

​

​

​

256,160

​

Total liabilities

​

​

21,606,205

​

​

​

21,061,982

​

​

​

20,837,552

​

Stockholders' equity

​

​

3,046,614

​

​

​

2,986,648

​

​

​

2,886,295

​

Total liabilities and equity

​

$

24,652,819

​

​

$

24,048,630

​

​

$

23,723,847

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Book value per common share

​

$

45.59

​

​

$

44.60

​

​

$

41.62

​

Number of common shares outstanding

​

​

66,825,367

​

​

​

66,972,039

​

​

​

69,343,395

​

CATHAY GENERAL BANCORP

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

​

​

Three months ended

​

​

Six months ended June 30,

​

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

2026

​

​

2025

​

​

​

(In thousands, except share and per share data)

​

​

​

​

​

​

​

​

​

Interest and Dividend Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loan receivable, including loan fees

​

$

302,170

​

​

$

298,935

​

​

$

296,857

​

​

$

601,105

​

​

$

590,841

​

Investment securities

​

​

14,420

​

​

​

12,983

​

​

​

13,666

​

​

​

27,403

​

​

​

25,769

​

Federal Home Loan Bank stock

​

​

253

​

​

​

874

​

​

​

373

​

​

​

1,127

​

​

​

752

​

Deposits with banks

​

​

10,610

​

​

​

10,118

​

​

​

12,022

​

​

​

20,728

​

​

​

24,951

​

Total interest and dividend income

​

​

327,453

​

​

​

322,910

​

​

​

322,918

​

​

​

650,363

​

​

​

642,313

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest Expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Time deposits

​

​

80,207

​

​

​

84,846

​

​

​

94,364

​

​

​

165,053

​

​

​

190,430

​

Other deposits

​

​

42,930

​

​

​

41,006

​

​

​

44,370

​

​

​

83,936

​

​

​

86,804

​

Advances from Federal Home Loan Bank

​

​

1,457

​

​

​

1,010

​

​

​

742

​

​

​

2,467

​

​

​

2,646

​

Long-term debt

​

​

1,841

​

​

​

1,829

​

​

​

2,029

​

​

​

3,670

​

​

​

4,049

​

Short-term borrowings

​

​

121

​

​

​

51

​

​

​

192

​

​

​

172

​

​

​

524

​

Total interest expense

​

​

126,556

​

​

​

128,742

​

​

​

141,697

​

​

​

255,298

​

​

​

284,453

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income before provision for credit losses

​

​

200,897

​

​

​

194,168

​

​

​

181,221

​

​

​

395,065

​

​

​

357,860

​

Provision for credit losses

​

​

11,240

​

​

​

18,193

​

​

​

11,200

​

​

​

29,433

​

​

​

26,700

​

Net interest income after provision for credit losses

​

​

189,657

​

​

​

175,975

​

​

​

170,021

​

​

​

365,632

​

​

​

331,160

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-Interest Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net gains/(losses) from equity securities

​

​

11,652

​

​

​

17,316

​

​

​

(1,390

)

​

​

28,968

​

​

​

(5,581

)

Impairment loss on investment securities

​

​

—

​

​

​

(15,685

)

​

​

—

​

​

​

(15,685

)

​

​

—

​

Net loss on sale of investment securities

​

​

(10,554

)

​

​

—

​

​

​

—

​

​

​

(10,554

)

​

​

—

​

Letters of credit commissions

​

​

2,331

​

​

​

2,406

​

​

​

2,120

​

​

​

4,737

​

​

​

4,211

​

Depository service fees

​

​

1,971

​

​

​

2,014

​

​

​

1,925

​

​

​

3,985

​

​

​

3,677

​

Wealth management fees

​

​

7,920

​

​

​

7,102

​

​

​

4,936

​

​

​

15,022

​

​

​

11,105

​

Other operating income

​

​

8,085

​

​

​

7,506

​

​

​

7,800

​

​

​

15,591

​

​

​

13,183

​

Total non-interest income

​

​

21,405

​

​

​

20,659

​

​

​

15,391

​

​

​

42,064

​

​

​

26,595

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-Interest Expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and employee benefits

​

​

46,733

​

​

​

45,511

​

​

​

43,123

​

​

​

92,244

​

​

​

85,550

​

Occupancy expense

​

​

5,812

​

​

​

5,816

​

​

​

5,950

​

​

​

11,628

​

​

​

11,687

​

Computer and equipment expense

​

​

6,594

​

​

​

5,627

​

​

​

5,160

​

​

​

12,221

​

​

​

11,214

​

Professional services expense

​

​

7,438

​

​

​

7,782

​

​

​

8,888

​

​

​

15,220

​

​

​

16,336

​

Data processing service expense

​

​

3,651

​

​

​

4,015

​

​

​

4,631

​

​

​

7,666

​

​

​

9,037

​

FDIC and State assessments

​

​

2,992

​

​

​

2,447

​

​

​

3,177

​

​

​

5,439

​

​

​

6,576

​

Marketing expense

​

​

1,472

​

​

​

1,863

​

​

​

1,113

​

​

​

3,335

​

​

​

2,991

​

Other real estate owned expense/(income)

​

​

339

​

​

​

1,589

​

​

​

(377

)

​

​

1,928

​

​

​

(133

)

Amortization of investments in low income housing and alternative energy partnerships

​

​

9,873

​

​

​

6,740

​

​

​

11,179

​

​

​

16,613

​

​

​

20,233

​

Amortization of core deposit intangibles

​

​

217

​

​

​

218

​

​

​

250

​

​

​

435

​

​

​

500

​

Other operating expense

​

​

7,195

​

​

​

5,072

​

​

​

6,040

​

​

​

12,267

​

​

​

10,799

​

Total non-interest expense

​

​

92,316

​

​

​

86,680

​

​

​

89,134

​

​

​

178,996

​

​

​

174,790

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Income before income tax expense

​

​

118,746

​

​

​

109,954

​

​

​

96,278

​

​

​

228,700

​

​

​

182,965

​

Income tax expense

​

​

26,537

​

​

​

23,068

​

​

​

18,828

​

​

​

49,605

​

​

​

36,009

​

Net income

​

$

92,209

​

​

$

86,886

​

​

$

77,450

​

​

$

179,095

​

​

$

146,956

​

Net income per common share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

1.38

​

​

$

1.30

​

​

$

1.11

​

​

$

2.67

​

​

$

2.09

​

Diluted

​

$

1.37

​

​

$

1.29

​

​

$

1.10

​

​

$

2.66

​

​

$

2.09

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash dividends paid per common share

​

$

0.38

​

​

$

0.38

​

​

$

0.34

​

​

$

0.76

​

​

$

0.68

​

Basic average common shares outstanding

​

​

67,014,700

​

​

​

67,040,473

​

​

​

69,989,825

​

​

​

67,004,055

​

​

​

70,183,752

​

Diluted average common shares outstanding

​

​

67,304,846

​

​

​

67,387,657

​

​

​

70,188,902

​

​

​

67,322,562

​

​

​

70,432,916

​

CATHAY GENERAL BANCORP

AVERAGE BALANCES – SELECTED CONSOLIDATED FINANCIAL INFORMATION

(Unaudited)

​

​

Three months ended​

​

​

(In thousands)(Unaudited)

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

Average Balance

​

​

Average Yield/Rate

(1)

​

​

Average Balance

​

​

Average Yield/Rate

(1)

​

​

Average Balance

​

​

Average Yield/Rate

(1)

​

Interest-earning assets:

​Loans

(1)

​

$

20,297,364

​

​

​

5.97

%

​

$

20,163,694

​

​

​

6.01

%

​

$

19,489,400

​

​

​

6.11

%

​Taxable investment securities

​

​

1,704,008

​

​

​

3.39

%

​

​

1,670,914

​

​

​

3.15

%

​

​

1,622,309

​

​

​

3.38

%

​FHLB stock

​

​

17,250

​

​

​

5.87

%

​

​

17,250

​

​

​

20.56

%

​

​

17,250

​

​

​

8.65

%

​Deposits with banks

​

​

1,168,077

​

​

​

3.64

%

​

​

1,128,168

​

​

​

3.64

%

​

​

1,102,579

​

​

​

4.37

%

​Total interest-earning assets

​

$

23,186,699

​

​

​

5.66

%

​

$

22,980,026

​

​

​

5.70

%

​

$

22,231,538

​

​

​

5.83

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-bearing liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​Interest-bearing demand deposits

​

$

2,493,275

​

​

​

1.48

%

​

$

2,341,354

​

​

​

1.43

%

​

$

2,133,874

​

​

​

1.71

%

Money market deposits

​

​

3,734,347

​

​

​

3.02

%

​

​

3,670,457

​

​

​

3.00

%

​

​

3,464,685

​

​

​

3.44

%

Savings deposits

​

​

1,511,915

​

​

​

1.49

%

​

​

1,514,129

​

​

​

1.51

%

​

​

1,343,043

​

​

​

1.67

%

Time deposits

​

​

9,501,517

​

​

​

3.39

%

​

​

9,688,896

​

​

​

3.55

%

​

​

9,692,056

​

​

​

3.91

%

​Total interest-bearing deposits

​

$

17,241,054

​

​

​

2.86

%

​

$

17,214,836

​

​

​

2.96

%

​

$

16,633,658

​

​

​

3.35

%

Other borrowed funds

​

​

174,147

​

​

​

3.63

%

​

​

128,265

​

​

​

3.35

%

​

​

103,059

​

​

​

3.63

%

Long-term debt

​

​

119,136

​

​

​

6.20

%

​

​

119,136

​

​

​

6.23

%

​

​

119,136

​

​

​

6.83

%

​Total interest-bearing liabilities

​

$

17,534,337

​

​

​

2.89

%

​

$

17,462,237

​

​

​

2.99

%

​

​

16,855,853

​

​

​

3.37

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest-bearing demand deposits

​

​

3,454,633

​

​

​

​

​

​

​

3,352,409

​

​

​

​

​

​

​

3,331,433

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total deposits and other borrowed funds

​

$

20,988,970

​

​

​

​

​

​

$

20,814,646

​

​

​

​

​

​

$

20,187,286

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total average assets

​

$

24,269,814

​

​

​

​

​

​

$

24,040,352

​

​

​

​

​

​

$

23,349,928

​

​

​

​

​

Total average equity

​

$

3,029,993

​

​

​

​

​

​

$

2,965,655

​

​

​

​

​

​

$

2,898,960

​

​

​

​

​

Net interest spread

​

​

​

​

​

​

2.77

%

​

​

​

​

​

​

2.71

%

​

​

​

​

​

​

2.45

%

Net interest margin

​

​

​

​

​

​

3.48

%

​

​

​

​

​

​

3.43

%

​

​

​

​

​

​

3.27

%

(1) Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.

​

​

Six months ended

​

(In thousands)(Unaudited)

​

June 30, 2026

​

​

June 30, 2025

​

​

Average Balance

​

​

Average Yield/Rate

(1)

​

​

Average Balance

​

​

Average Yield/Rate

(1)

​

Interest-earning assets:

​Loans

(1)

​

$

20,230,401

​

​

​

5.99

%

​

$

19,411,434

​

​

​

6.14

%

​Taxable investment securities

​

​

1,687,553

​

​

​

3.27

%

​

​

1,540,471

​

​

​

3.37

%

​FHLB stock

​

​

17,250

​

​

​

13.17

%

​

​

17,250

​

​

​

8.79

%

​Deposits with banks

​

​

1,148,233

​

​

​

3.64

%

​

​

1,152,166

​

​

​

4.37

%

​Total interest-earning assets

​

$

23,083,437

​

​

​

5.68

%

​

$

22,121,321

​

​

​

5.86

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-bearing liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​Interest-bearing demand deposits

​

$

2,417,734

​

​

​

1.46

%

​

$

2,138,034

​

​

​

1.69

%

Money market deposits

​

​

3,702,578

​

​

​

3.01

%

​

​

3,423,716

​

​

​

3.43

%

Savings deposits

​

​

1,513,016

​

​

​

1.50

%

​

​

1,316,483

​

​

​

1.62

%

Time deposits

​

​

9,594,689

​

​

​

3.47

%

​

​

9,637,742

​

​

​

3.98

%

​Total interest-bearing deposits

​

$

17,228,017

​

​

​

2.91

%

​

$

16,515,975

​

​

​

3.38

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​Other borrowed funds

​

​

151,333

​

​

​

3.52

%

​

​

158,731

​

​

​

4.03

%

Long-term debt

​

​

119,136

​

​

​

6.21

%

​

​

119,136

​

​

​

6.85

%

​Total interest-bearing liabilities

​

​

17,498,486

​

​

​

2.94

%

​

​

16,793,842

​

​

​

3.42

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest-bearing demand deposits

​

​

3,403,804

​

​

​

​

​

​

​

3,318,364

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total deposits and other borrowed funds

​

$

20,902,290

​

​

​

​

​

​

$

20,112,206

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total average assets

​

$

24,155,594

​

​

​

​

​

​

$

23,269,350

​

​

​

​

​

Total average equity

​

$

2,997,861

​

​

​

​

​

​

$

2,881,929

​

​

​

​

​

Net interest spread

​

​

​

​

​

​

2.74

%

​

​

​

​

​

​

2.44

%

Net interest margin

​

​

​

​

​

​

3.45

%

​

​

​

​

​

​

3.26

%

(1) Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.

CATHAY GENERAL BANCORP

GAAP to NON-GAAP RECONCILIATION

SELECTED CONSOLIDATED FINANCIAL INFORMATION

(Unaudited)

The Company uses certain non-GAAP financial measures including tangible book value (“TBV”), tangible book value per share (“TBV/Share”), tangible assets, tangible common equity (“TCE”) ratio, the return on average tangible common stockholders’ equity (“ROATCE”), adjusted total revenue, adjusted non-interest expense, and the adjusted efficiency ratio. We believe these non-GAAP financial measures provide investors with information useful in understanding its financial position, results of operations, the strength of its capital position, and overall business performance. These non-GAAP financial measures are used for performance measurement purposes, as well as for internal planning and forecasting, and by securities analysts, investors, and other interested parties to assess peer company operating performance. These non-GAAP financial measures should not be considered a substitute for GAAP-basis financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these with other companies that present financial measures having the same or similar names. The Company strongly encourages investorst review its consolidated financial statements in their entirety and to not rely on any single financial measure.

TBV represents stockholders’ equity less goodwill and other intangible assets. TBV/share represents TBV divided by the number of common shares outstanding at the end of the reporting period. The TCE ratio represents TBV divided by tangible assets. Tangible assets is equal to total assets less goodwill and other intangible assets. ROATCE is calculated using net income adjusted for the tax-effected amortization of intangible assets, as a percentage of average stockholders’ equity less average goodwill and other intangible assets.

​

​

​

As of

​

($ In thousands, except share and per share data)

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

​

​

(Unaudited)

​

Stockholders' equity

(a)

​

$

3,046,614

​

​

$

2,986,648

​

​

$

2,886,295

​

Less: Goodwill

​

​

​

(375,696

)

​

​

(375,696

)

​

​

(375,696

)

Other intangible assets

(1)

​

​

​

(2,341

)

​

​

(2,450

)

​

​

(2,888

)

Tangible book value

(b)

​

$

2,668,577

​

​

$

2,608,502

​

​

$

2,507,711

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets

(c)

​

$

24,652,819

​

​

$

24,048,630

​

​

$

23,723,847

​

Less: Goodwill

​

​

​

(375,696

)

​

​

(375,696

)

​

​

(375,696

)

Other intangible assets

(1)

​

​

​

(2,341

)

​

​

(2,450

)

​

​

(2,888

)

Tangible assets

(d)

​

$

24,274,782

​

​

$

23,670,484

​

​

$

23,345,263

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average stockholders' equity

​

​

$

3,029,993

​

​

$

2,965,655

​

​

$

2,898,960

​

Less: Average goodwill and other intangible assets, net

​

​

​

(378,072

)

​

​

(378,301

)

​

​

(378,709

)

Average tangible stockholders' equity

(e)

​

$

2,651,921

​

​

$

2,587,354

​

​

$

2,520,251

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Number of common shares outstanding

(f)

​

​

66,825,367

​

​

​

66,972,039

​

​

​

69,343,395

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common equity to assets ratio

g=(a)/(c)

​

​

12.36

%

​

​

12.42

%

​

​

12.17

%

Tangible common equity ratio

h=(b)/(d)

​

​

10.99

%

​

​

11.02

%

​

​

10.74

%

Book value per share

​

​

$

45.59

​

​

$

44.60

​

​

$

41.62

​

Tangible book value per share

i=(b)/(f)

​

$

39.93

​

​

$

38.95

​

​

$

36.16

​

​

​

​

Three Months Ended

​

​

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

​

​

(Unaudited)

​

Net Income

​

​

$

92,209

​

​

$

86,886

​

​

$

77,450

​

Add: Amortization of other intangibles

(1)

​

​

​

278

​

​

​

223

​

​

​

285

​

Tax effect of amortization adjustments

(2)

​

​

​

(82

)

​

​

(66

)

​

​

(85

)

Tangible net income

(j)

​

$

92,405

​

​

$

87,043

​

​

$

77,650

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average stockholders' equity

(3)

​

​

​

12.21

%

​

​

11.88

%

​

​

10.72

%

Return on average tangible common equity

(3)

k=(i)/(e)

​

​

13.98

%

​

​

13.64

%

​

​

12.36

%

(1) Includes core deposit intangibles and servicing rights

(2)

Applied the statutory rate of 29.65%.

(3) Annualized

​

​

​

As of

​

($ In thousands, except share and per share data)

​

​

June 30, 2026

​

​

June 30, 2025

​

​

​

​

(Unaudited)

​

Stockholders' equity

(a)

​

$

3,046,614

​

​

$

2,886,295

​

Less: Goodwill

​

​

​

(375,696

)

​

​

(375,696

)

Other intangible assets

(1)

​

​

​

(2,341

)

​

​

(2,888

)

Tangible book value

(b)

​

$

2,668,577

​

​

$

2,507,711

​

​

​

​

​

​

​

​

​

​

​

Total assets

(c)

​

$

24,652,819

​

​

$

23,723,847

​

Less: Goodwill

​

​

​

(375,696

)

​

​

(375,696

)

Other intangible assets

(1)

​

​

​

(2,341

)

​

​

(2,888

)

Tangible assets

(d)

​

$

24,274,782

​

​

$

23,345,263

​

​

​

​

​

​

​

​

​

​

​

Average stockholders' equity

​

​

$

2,997,861

​

​

$

2,881,929

​

Less: Average goodwill and other intangible assets, net

​

​

​

(378,186

)

​

​

(378,825

)

Average tangible stockholders' equity

(e)

​

$

2,619,675

​

​

$

2,503,104

​

​

​

​

​

​

​

​

​

​

​

Number of common shares outstanding

(f)

​

​

66,825,367

​

​

​

69,343,395

​

​

​

​

​

​

​

​

​

​

​

Common equity to assets ratio

g=(a)/(c)

​

​

12.36

%

​

​

12.17

%

Tangible common equity ratio

h=(b)/(d)

​

​

10.99

%

​

​

10.74

%

Book value per share

​

​

$

45.59

​

​

$

41.62

​

Tangible book value per share

i=(b)/(f)

​

$

39.93

​

​

$

36.16

​

​

​

​

Six months ended

​

​

​

​

June 30, 2026

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

Net Income

​

​

$

179,095

​

​

$

146,956

​

Add: Amortization of other intangibles

(1)

​

​

​

502

​

​

​

567

​

Tax effect of amortization adjustments

(2)

​

​

​

(149

)

​

​

(168

)

Tangible net income

(j)

​

$

179,448

​

​

$

147,355

​

​

​

​

​

​

​

​

​

​

​

Return on average stockholders' equity

(3)

​

​

​

12.05

%

​

​

10.28

%

Return on average tangible common equity

(3)

k=(i)/(e)

​

​

13.81

%

​

​

11.87

%

(1) Includes core deposit intangibles and servicing rights

(2)

Applied the statutory rate of 29.65%.

(3) Annualized

Adjusted total revenue is calculated by adding net interest income before provision for credit losses and non-interest income excluding net gains and losses from equity and investment securities. Adjusted non-interest expense is non-interest expense excluding amortization of investments in low-income housing and alternative energy partnerships, other real estate owned expenses, amortization of core deposit intangibles and the FDIC special assessment. The Adjusted efficiency ratio is calculated by dividing the Company’s adjusted non‑interest expense by adjusted total revenue. It represents the costs expended to generate a dollar of revenue. The adjusted components exclude items that are non‑operational as well as the amortization of investments in low‑income housing partnerships and alternative energy partnerships. Although this amortization is operational in nature, it is removed to enhance comparability with peers that report these costs within income tax expense under proportional amortization accounting, which the Company has not yet adopted.

​

​

​

Three months ended

​

​

Six months ended

​

($ In thousands) (Unaudited)

​

​

June 30, 2026

​

​

March 31, 2026

​

​

June 30, 2025

​

​

June 30, 2026

​

​

June 30, 2025

​

Net interest income before provision for credit losses

a

​

$

200,897

​

​

$

194,168

​

​

$

181,221

​

​

$

395,065

​

​

$

357,860

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest income

​

​

$

21,405

​

​

$

20,659

​

​

$

15,391

​

​

$

42,064

​

​

$

26,595

​

Adjustments:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net gains/(losses) from equity securities

​

​

​

(11,652

)

​

​

(17,316

)

​

​

1,390

​

​

​

(28,968

)

​

​

(5,581

)

Impairment loss on investment securities

​

​

​

—

​

​

​

15,685

​

​

​

—

​

​

​

15,685

​

​

​

—

​

Net loss on sale of investment securities

​

​

​

10,554

​

​

​

—

​

​

​

—

​

​

​

10,554

​

​

​

—

​

Adjusted non-interest income

b

​

$

20,307

​

​

$

19,028

​

​

$

16,781

​

​

$

39,335

​

​

$

21,014

​

Adjusted total revenue

c=a+b

​

$

221,204

​

​

$

213,196

​

​

$

198,002

​

​

$

434,400

​

​

$

378,874

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest expense

d

​

$

92,316

​

​

$

86,680

​

​

$

89,134

​

​

$

178,996

​

​

$

174,790

​

Adjustments:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortization of investments in low income housing

​

​

​

(9,748

)

​

​

(6,625

)

​

​

(10,950

)

​

​

(16,373

)

​

​

(19,673

)

Amortization of investments in alternative energy partnerships

​

​

​

(125

)

​

​

(115

)

​

​

(229

)

​

​

(240

)

​

​

(560

)

Other real estate owned

​

​

​

(339

)

​

​

(1,589

)

​

​

377

​

​

​

(1,928

)

​

​

133

​

Amortization of core deposit intangible

​

​

​

(217

)

​

​

(218

)

​

​

(250

)

​

​

(435

)

​

​

(500

)

FDIC special assessment

​

​

​

—

​

​

​

584

​

​

​

(139

)

​

​

584

​

​

​

(139

)

Adjusted non-interest expense

e

​

$

81,887

​

​

$

78,717

​

​

$

77,943

​

​

$

160,604

​

​

$

154,051

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Efficiency ratio

​

​

​

41.5

%

​

​

40.4

%

​

​

45.3

%

​

​

41.0

%

​

​

45.5

%

Adjusted efficiency ratio

f=e/c

​

​

37.0

%

​

​

36.9

%

​

​

39.4

%

​

​

37.0

%

​

​

40.7

%

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v3.26.1

Document And Entity Information

Jul. 22, 2026

Document Information [Line Items]

Entity, Registrant Name

CATHAY GENERAL BANCORP

Document, Type

8-K

Document, Period End Date

Jul. 22, 2026

Entity, Incorporation, State or Country Code

DE

Entity, File Number

001-31830

Entity, Tax Identification Number

95-4274680

Entity, Address, Address Line One

777 North Broadway

Entity, Address, City or Town

Los Angeles

Entity, Address, State or Province

CA

Entity, Address, Postal Zip Code

90012

City Area Code

213

Local Phone Number

625-4700

Written Communications

false

Soliciting Material

false

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false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common stock

Trading Symbol

CATY

Security Exchange Name

NASDAQ

Entity, Emerging Growth Company

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