Business Wire·Jul 22, 2026, 4:30 PM ET

Cathay General Bancorp Announces Second Quarter 2026 Results

Cathay General Bancorp reported net income of $92.2 million ($1.37 per diluted share) for the second quarter ended June 30, 2026, an increase from $86.9 million ($1.29 per diluted share) in the first quarter of 2026.
Net interest margin expanded to 3.48% in the second quarter from 3.43% in the first quarter, driven by lower deposit costs & higher loan yields.
Total loans increased 2.21% to $20.62 billion, while total deposits rose 1.87% to $21.06 billion.
The Board approved increasing share repurchase authorization from $150 million to $200 million, pending regulatory approval.
The Board approved the redemption of $54.1 million of trust preferred securities, representing approximately 45% of the outstanding $119.1 million.
Provision for credit losses decreased to $11.2 million in the second quarter from $18.2 million in the first quarter.
Allowance for loan losses increased by $10.1 million to $218.9 million, or 1.06% of gross loans.
Non-performing assets increased 14% to $145.4 million, primarily due to a 25.5% rise in non-accrual loans.
Tier 1 risk-based capital ratio was 13.70% as of June 30, 2026, exceeding regulatory minimum requirements.
Year-to-date net income for the six months ended June 30, 2026, was $179.1 million, a 21.8% increase compared to the same period in 2025.
A conference call to discuss these results was scheduled for July 22, 2026, at 3:00 p.m. Pacific Time.