Business Wire·Apr 22, 2026, 4:00 PM ET

Cathay General Bancorp Announces First Quarter 2026 Results

Cathay General Bancorp reported net income of $86.9 million ($1.29 per diluted share) for the quarter ended March 31, 2026, compared to $90.5 million ($1.33 per share) in the fourth quarter of 2025.
The company's net interest margin increased to 3.43% from 3.36% in the prior quarter, driven by lower deposit costs.
Total loans excluding those held for sale rose 0.14% to $20.17 billion, with growth in commercial loans offset by declines in construction loans.
Total deposits decreased 1.0% to $20.68 billion as of March 31, 2026.
Non-interest income fell 25.5% to $20.7 million due primarily to a $15.7 million impairment loss on available-for-sale securities.
Non-interest expense decreased 6.0% to $86.7 million, with reductions in salaries benefits amortization expenses offset by higher other real estate owned costs.
The efficiency ratio improved to 40.35% from 41.36% in the previous quarter.
The allowance for loan losses increased to $208.8 million (1.03% of gross loans), while non-accrual loans declined 20.8% to $89.0 million.
The company completed a $150 million share repurchase program announced an additional $150 million buyback program pending regulatory approval.
Capital ratios remain in the "well capitalized" category with a Tier 1 risk-based ratio of 13.46% total risk-based ratio of 15.19%.
The company will host a conference call on April 22, 2026, at 2:00 p.m. Pacific Time to discuss these results.