caty20250118_8k.htm
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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 17, 2025
 
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.
 
Cathay General Bancorp (the “Company”) announced that Kim R. Bingham will retire as Chief Risk Officer of Cathay Bank effective January 21, 2025. Mr. Bingham was the Chief Risk Officer of Cathay Bank since 2014. He will continue to serve Cathay Bank as Executive Vice President, Special Advisor to the Office of the President for a transition period that is anticipated to end on or about March 31, 2025, but will no longer be a designated executive officer of Cathay Bank.
 
Succeeding Mr. Bingham, Diana Deen will join Cathay Bank as Executive Vice President and Chief Risk Officer on January 21, 2025, and will be a designated executive officer of Cathay Bank.
 
Diana Deen, age 62, has over 20 years of banking experience and has held key leadership roles in areas of risk management and compliance, overseeing information technology and operational strategies focused on business transformation. Ms. Deen was with Bank of the West (now part of Bank of Montreal) from 2018 to 2023, where she served as Executive Vice President, Head of Operational Risk for its Basel Operational Risk Program and was appointed as the Chief Ethics and Conduct Officer in 2022. Prior to that, she served as Executive Vice President, Head of International Risk Oversight at Wells Fargo between 2013 and 2017 and was the Managing Director, Head of Global Compliance Strategy, Technology and Operations at JPMorgan Chase between 2008 and 2013 where she oversaw enterprise-wide strategic and remedial activities. There are no family relationships between Ms. Deen and any director or executive officer of the Company, and there are no relationships between Ms. Deen 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
 
 
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 17, 2025
CATHAY GENERAL BANCORP
By:
/s/ Heng W. Chen
Heng W. Chen
Executive Vice President and
    Chief Financial Officer  
 
 

Exhibit 99.1

 

 

 

FOR IMMEDIATE RELEASE

For:    Cathay General Bancorp     Contact:     Heng W. Chen
777 N. Broadway     (626) 279-3652
Los Angeles, CA 90012      

 

 

Cathay General Bancorp Announces

Retirement of Chief Risk Officer of Cathay Bank and Appointment of Successor

 

Los Angeles, January 17, 2025: Cathay General Bancorp (Nasdaq: CATY), the holding company for Cathay Bank, announced that Mr. Kim R. Bingham will retire as Chief Risk Officer of Cathay Bank, effective January 21, 2025. Mr. Bingham will continue to serve Cathay Bank as Executive Vice President, Special Advisor to the Office of the President for a transition period that is anticipated to end on or about March 31, 2025, but will no longer be a designated executive officer of Cathay Bank.

 

Succeeding Mr. Bingham is Ms. Diana Deen, who will join Cathay Bank as Executive Vice President and Chief Risk Officer effective January 21, 2025, and will be a designated executive officer of Cathay Bank.

 

Diana Deen, age 62, has over 20 years of banking experience and has held key leadership roles in areas of risk management and compliance, overseeing information technology and operational strategies focused on business transformation. Most recently, she was with Bank of the West (now part of Bank of Montreal) from 2018 to 2023, where she served as Executive Vice President, Head of Operational Risk for its Basel Operational Risk Program and was appointed as the Chief Ethics and Conduct Officer in 2022. Prior to that, she served as Executive Vice President, Head of International Risk Oversight at Wells Fargo between 2013 and 2017 and was the Managing Director, Head of Global Compliance Strategy, Technology and Operations at JPMorgan Chase between 2008 and 2013 where she oversaw enterprise-wide strategic and remedial activities.

 

 

ABOUT CATHAY GENERAL BANCORP

 

Cathay General Bancorp (Nasdaq: CATY) is the holding company for Cathay Bank, a California state-chartered bank. Cathay General Bancorp’s website is at www.cathaygeneralbancorp.com. 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 a representative office in Beijing, Shanghai, and Taipei. To learn more about Cathay Bank, please visit www.cathaybank.com.