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Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. It offers savings accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits, and acceptance of checking, savings, demand deposits, time deposits, real estate, and consumer loans. The company also provides loan products, such as commercial real estate loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, and installment loans to individuals for household and other consumer expenditures. In addition, it offers trade financing, letter of credit, wire transfer, foreign currency spot and forward contract, safe deposit, overdraft, cash checking, automatic teller machine, Internet banking, investment, and other customary bank services, as well as investment products and services, such as stocks, bonds, mutual funds, insurance, annuities, and advisory services. The company was formerly known as Cathay Bancorp, Inc. and changed its name to Cathay General Bancorp in November 2003. Cathay General Bancorp was founded in 1962 and is headquartered in Los Angeles, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $818M | - | $315M | $364M | 10.8% | 12.1% | 10.2% |
| 2024 | $730M | - | $286M | $326M | 10.0% | -9.9% | -19.2% |
| 2023 | $810M | - | $354M | $381M | 12.9% | 2.5% | -1.8% |
| 2022 | $791M | - | $361M | $464M | 14.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 790.51 | 810.04 | 729.72 | 817.89 |
| Operating Revenue | - | 790.51 | 810.04 | 729.72 | 817.89 |
| Selling General And Administration | - | 157.45 | 183.62 | 188.18 | 194.81 |
| Interest Income | - | 851.28 | 1,242.22 | 1,334.98 | 1,309.26 |
| Interest Expense | - | 117.58 | 500.48 | 660.92 | 566.80 |
| Net Interest Income | - | 733.70 | 741.75 | 674.06 | 742.46 |
| Pretax Income | - | 472.54 | 403.58 | 317.54 | 390.20 |
| Tax Provision | - | 111.89 | 49.46 | 31.56 | 75.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.98 | -0.08 | 0 | 0 |
| Net Income Continuous Operations | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Net Income From Continuing And Discontinued Operation | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Net Income From Continuing Operation Net Minority Interest | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Net Income | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Net Income Common Stockholders | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Net Income Including Noncontrolling Interests | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Normalized Income | - | 363.79 | 354.71 | 285.98 | 315.12 |
| Diluted NI Availto Com Stockholders | - | 360.64 | 354.12 | 285.98 | 315.12 |
| Basic Average Shares | - | 74.34 | 72.57 | 72.07 | 69.18 |
| Diluted Average Shares | - | 74.66 | 72.86 | 72.33 | 69.45 |
| Reconciled Depreciation | - | 19.80 | 18.10 | 16.83 | 16.04 |
| Total Unusual Items | - | -4.13 | -0.67 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | -4.13 | -0.67 | 0 | 0 |
| Special Income Charges | - | -4.13 | -0.67 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 4.13 | 0.67 | 0 | 0 |
| Gain On Sale Of Security | - | 0.39 | 15.25 | -6.41 | 7.39 |
| Depreciation Amortization Depletion Income Statement | - | 1.89 | 1.31 | 1.10 | 0.95 |
| Depreciation And Amortization In Income Statement | - | 1.89 | 1.31 | 1.10 | 0.95 |
| General And Administrative Expense | - | 150.58 | 177.74 | 181.66 | 188.81 |
| Other Gand A | 13.61 | - | - | - | - |
| Salaries And Wages | - | 142.55 | 154.15 | 167.38 | 177.43 |
| Insurance And Claims | - | 8.04 | 23.59 | 14.28 | 11.38 |
| Selling And Marketing Expense | - | 6.86 | 5.89 | 6.52 | 6 |
| Amortization | - | 1.89 | 1.31 | 1.10 | 0.95 |
| Amortization Of Intangibles Income Statement | - | 1.89 | 1.31 | 1.10 | 0.95 |
| Occupancy And Equipment | - | 36.41 | 39.75 | 43.42 | 46.89 |
| Professional Expense And Contract Services Expense | - | 28.24 | 32.49 | 30.99 | 31.69 |
| Other Non Interest Expense | - | 33.25 | 36.02 | 38.37 | 37.11 |
| Securities Amortization | - | 42.06 | 86.62 | 72.63 | 43.61 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cathay General Bancorpthis co. | CATY | $3.9B | 12.38↓ discount | 1.33 | 10.8% | - |
| Sezzle Inc. | SEZL | $4.1B | 30.56 | 23.96 | 78.4% | 25.25 |
| United Community Banks, Inc. | UCB | $4.0B | 12.12 | 1.09 | 9.0% | - |
| Independent Bank Corp. | INDB | $3.8B | 18.52 | 1.07 | 5.8% | - |
| Cohen & Steers, Inc. | CNS | $3.8B |
| - |
| - |
| - |
| - |
| - |
| 24.67 |
| 6.73 |
| 27.3% |
| 17.84 |
| First BanCorp. | FBP | $3.8B | 10.90 | 1.91 | 17.5% | - |
| Renasant Corporation | RNST | $3.7B | 20.64 | 0.96 | 4.7% | - |
| WSFS Financial Corporation | WSFS | $3.7B | 12.89 | 1.35 | 10.5% | - |
| BancFirst Corporation | BANF | $3.7B | 15.37 | 1.99 | 13.0% | - |
| Peer Median | - | 16.94 | 1.63 | 11.7% | 21.55 | |