Cathay General Bancorp 8-K, filed Oct 21, 2026

Cathay General Bancorp (CATY)

8-K 2026-10-21 For: 2026-10-21

Added on October 22, 2026

About this 8-K

Cathay General Bancorp filed this 8-K on October 21, 2026.

Cathay General Bancorp reported third-quarter net income of $95.2 million and diluted earnings per share of $1.43, up from $92.2 million and $1.37 in the second quarter. Loans $21.20 billion, deposits $21.83 billion, and net interest margin expanded to 3.52%. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Delaware	001-31830	95-4274680
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	CATY	Nasdaq Global Select Market

	CATHAY GENERAL BANCORP



	By:	/s/ Albert J. Wang
		Albert J. Wang
		Executive Vice President and
		Chief Financial Officer

For:	Cathay General Bancorp	Contact:	Albert J. Wang
	777 N. Broadway		(626) 279-3695
	Los Angeles, CA 90012

	Three months ended
(unaudited)	September 30, 2026			June 30, 2026			September 30, 2025
Net income	$95.2 million			$92.2 million			$77.7 million
Basic earnings per common share	$	1.43		$	1.38		$	1.13
Diluted earnings per common share	$	1.43		$	1.37		$	1.13
Return on average assets		1.51	%		1.52	%		1.29	%
Return on average total stockholders' equity		12.28	%		12.21	%		10.60	%
Efficiency ratio		40.60	%		41.53	%		41.84	%

	Three months ended						Nine months ended September 30,
	September 30, 2026		June 30, 2026		September 30, 2025		2026		2025
	(In thousands) (Unaudited)
Charge-offs:
Commercial loans	$	261	$	2,743	$	16,173	$	10,975	$	27,634
Construction loans		8,810		—		—		8,810		—
Real estate loans ⁽¹⁾		17,876		—		314		19,261		4,227
Total charge-offs		26,947		2,743		16,487		39,046		31,861
Recoveries:
Commercial loans		1,660		853		547		7,444		1,012
Construction loans		—		—		5		—		6
Real estate loans⁽¹⁾		—		42		289		2,344		479
Total recoveries		1,660		895		841		9,788		1,497
Net charge-offs	$	25,287	$	1,848	$	15,646	$	29,258	$	30,364

	Three months ended									Nine months ended September 30,
(In thousands, except per share data)	September 30, 2026			June 30, 2026			September 30, 2025			2026			2025

Financial performance
Net interest income before provision for credit losses	$	211,878		$	200,897		$	189,587		$	606,943		$	547,447
Provision for credit losses		28,600			11,240			28,731			58,033			55,431
Net interest income after provision for credit losses		183,278			189,657			160,856			548,910			492,016
Non-interest income		42,770			21,405			21,021			84,834			47,616
Non-interest expense		103,376			92,316			88,117			282,372			262,907
Income before income tax expense		122,672			118,746			93,760			351,372			276,725
Income tax expense		27,498			26,537			16,109			77,103			52,118
Net income	$	95,174		$	92,209		$	77,651		$	274,269		$	224,607

Net income per common share:
Basic	$	1.43		$	1.38		$	1.13		$	4.10		$	3.22
Diluted	$	1.43		$	1.37		$	1.13		$	4.09		$	3.21
Cash dividends paid per common share	$	0.38		$	0.38		$	0.34		$	1.14		$	1.02

Selected ratios
Return on average assets		1.51	%		1.52	%		1.29	%		1.50	%		1.28	%
Return on average total stockholders’ equity		12.28	%		12.21	%		10.60	%		12.13	%		10.39	%
Efficiency ratio		40.60	%		41.53	%		41.84	%		40.82	%		44.18	%
Dividend payout ratio		26.49	%		27.59	%		29.93	%		27.74	%		31.59	%

Yield analysis (Fully taxable equivalent)
Total interest-earning assets		5.74	%		5.66	%		5.84	%		5.70	%		5.85	%
Total interest-bearing liabilities		2.93	%		2.89	%		3.32	%		2.94	%		3.38	%
Net interest spread		2.81	%		2.77	%		2.52	%		2.76	%		2.47	%
Net interest margin		3.52	%		3.48	%		3.31	%		3.48	%		3.28	%

Capital ratios	September 30, 2026			June 30, 2026			September 30, 2025
Common equity tier 1 capital ratio		13.51	%		13.70	%		13.15	%
Tier 1 risk-based capital ratio		13.51	%		13.70	%		13.15	%
Total risk-based capital ratio		15.00	%		15.47	%		14.76	%
Tier 1 leverage capital ratio		11.06	%		11.28	%		10.88	%

(In thousands, except share and per share data)	September 30, 2026			June 30, 2026			September 30, 2025

Assets
Cash and due from banks	$	131,044		$	163,976		$	166,167
Short-term investments and interest bearing deposits		1,576,961			1,163,120			1,141,886
Securities available-for-sale (amortized cost of $1,657,883 at September 30, 2026 $1,737,212 at June 30, 2026 and $1,728,199 at September 30, 2025)		1,589,036			1,682,820			1,643,450
Loans held for sale		13,597			—			—
Loans		21,195,861			20,621,332			20,104,716
Less: Allowance for loan losses		(224,190	)		(218,896	)		(186,647	)
Unamortized deferred loan fees, net		(15,523	)		(14,606	)		(14,987	)
Loans, net		20,956,148			20,387,830			19,903,082
Equity securities		116,907			80,854			32,111
Federal Home Loan Bank stock		17,250			17,250			17,250
Other real estate owned, net		26,910			33,659			32,983
Affordable housing investments and alternative energy partnerships, net		295,407			293,553			292,672
Premises and equipment, net		90,346			90,613			88,552
Customers’ liability on acceptances		6,393			11,214			7,730
Accrued interest receivable		97,206			94,676			96,055
Goodwill		375,696			375,696			375,696
Other intangible assets, net		2,095			2,341			2,667
Right-of-use assets- operating leases		35,493			33,269			31,086
Other assets		242,012			221,948			244,257
Total assets	$	25,572,501		$	24,652,819		$	24,075,644

Liabilities and Stockholders’ Equity
Deposits:
Non-interest-bearing demand deposits	$	3,950,436		$	3,567,527		$	3,574,567
Interest-bearing deposits:
NOW deposits		2,634,247			2,612,011			2,226,182
Money market deposits		4,284,484			3,894,594			3,586,301
Savings deposits		1,517,383			1,421,969			1,424,243
Time deposits		9,448,438			9,565,547			9,709,856
Total deposits		21,834,988			21,061,648			20,521,149

Advances from the Federal Home Loan Bank		200,000			—			190,000
Long-term debt		65,011			119,136			119,136
Acceptances outstanding		6,393			11,214			7,730
Lease liabilities - operating leases		37,370			35,114			33,079
Other liabilities		371,994			379,093			302,274
Total liabilities		22,515,756			21,606,205			21,173,368
Stockholders' equity		3,056,745			3,046,614			2,902,276
Total liabilities and equity	$	25,572,501		$	24,652,819		$	24,075,644

Book value per common share	$	46.26		$	45.59		$	42.50
Number of common shares outstanding		66,083,728			66,825,367			68,286,591

	Three months ended
(In thousands)(Unaudited)	September 30, 2026					June 30, 2026					September 30, 2025
Interest-earning assets:	Average Balance		Average Yield/Rate ⁽¹⁾			Average Balance		Average Yield/Rate ⁽¹⁾			Average Balance		Average Yield/Rate ⁽¹⁾
Loans ⁽¹⁾	$	20,891,868		6.02	%	$	20,297,364		5.97	%	$	19,951,853		6.14	%
Taxable investment securities		1,651,113		3.62	%		1,704,008		3.39	%		1,634,248		3.08	%
FHLB stock		17,250		15.13	%		17,250		5.87	%		17,250		8.65	%
Deposits with banks		1,310,565		3.70	%		1,168,077		3.64	%		1,113,274		4.34	%
Total interest-earning assets	$	23,870,796		5.74	%	$	23,186,699		5.66	%	$	22,716,625		5.84	%

Interest-bearing liabilities:
Interest-bearing demand deposits	$	2,608,725		1.66	%	$	2,493,275		1.48	%	$	2,189,376		1.70	%
Money market deposits		4,065,916		3.08	%		3,734,347		3.02	%		3,556,374		3.44	%
Savings deposits		1,503,628		1.44	%		1,511,915		1.49	%		1,419,953		1.72	%
Time deposits		9,660,600		3.41	%		9,501,517		3.39	%		9,698,744		3.81	%
Total interest-bearing deposits	$	17,838,869		2.91	%	$	17,241,054		2.86	%	$	16,864,447		3.28	%
Other borrowed funds		71,414		3.32	%		174,147		3.63	%		295,892		4.26	%
Long-term debt		115,634		6.20	%		119,136		6.20	%		119,136		6.80	%
Total interest-bearing liabilities	$	18,025,917		2.93	%	$	17,534,337		2.89	%		17,279,475		3.32	%

Non-interest-bearing demand deposits		3,569,978					3,454,633					3,384,141

Total deposits and other borrowed funds	$	21,595,895				$	20,988,970				$	20,663,616

Total average assets	$	24,945,244				$	24,269,814				$	23,843,380
Total average equity	$	3,074,263				$	3,029,993				$	2,907,596
Net interest spread				2.81	%				2.77	%				2.52	%
Net interest margin				3.52	%				3.48	%				3.31	%

	Nine months ended
(In thousands)(Unaudited)	September 30, 2026					September 30, 2025
Interest-earning assets:	Average Balance		Average Yield/Rate⁽¹⁾			Average Balance		Average Yield/Rate⁽¹⁾
Loans⁽¹⁾	$	20,453,313		6.00	%	$	19,593,553		6.14	%
Taxable investment securities		1,675,273		3.39	%		1,572,074		3.27	%
FHLB stock		17,250		13.83	%		17,250		8.74	%
Deposits with banks		1,202,938		3.66	%		1,139,060		4.36	%
Total interest-earning assets	$	23,348,774		5.70	%	$	22,321,937		5.85	%

Interest-bearing liabilities:
Interest-bearing demand deposits	$	2,482,097		1.53	%	$	2,155,336		1.69	%
Money market deposits		3,825,022		3.03	%		3,468,421		3.43	%
Savings deposits		1,509,852		1.48	%		1,351,352		1.65	%
Time deposits		9,616,901		3.45	%		9,658,300		3.92	%
Total interest-bearing deposits	$	17,433,872		2.91	%	$	16,633,409		3.35	%

Other borrowed funds		124,401		3.48	%		204,953		4.14	%
Long-term debt		117,956		6.21	%		119,136		6.84	%
Total interest-bearing liabilities		17,676,229		2.94	%		16,957,498		3.38	%

Non-interest-bearing demand deposits		3,459,809					3,340,530

Total deposits and other borrowed funds	$	21,136,038				$	20,298,028

Total average assets	$	24,421,642				$	23,462,799
Total average equity	$	3,023,608				$	2,890,581
Net interest spread				2.76	%				2.47	%
Net interest margin				3.48	%				3.28	%

		As of
($ In thousands, except share and per share data)		September 30, 2026			June 30, 2026			September 30, 2025
		(Unaudited)
Stockholders' equity	(a)	$	3,056,745		$	3,046,614		$	2,902,276
Less: Goodwill			(375,696	)		(375,696	)		(375,696	)
Other intangible assets ⁽¹⁾			(2,095	)		(2,341	)		(2,667	)
Tangible book value	(b)	$	2,678,954		$	2,668,577		$	2,523,913

Total assets	(c)	$	25,572,501		$	24,652,819		$	24,075,644
Less: Goodwill			(375,696	)		(375,696	)		(375,696	)
Other intangible assets ⁽¹⁾			(2,095	)		(2,341	)		(2,667	)
Tangible assets	(d)	$	25,194,710		$	24,274,782		$	23,697,281

Average stockholders' equity		$	3,074,263		$	3,029,993		$	2,907,596
Less: Average goodwill and other intangible assets, net			(377,960	)		(378,072	)		(378,510	)
Average tangible stockholders' equity	(e)	$	2,696,303		$	2,651,921		$	2,529,086

Number of common shares outstanding	(f)		66,083,728			66,825,367			68,286,591

Common equity to assets ratio	g=(a)/(c)		11.95	%		12.36	%		12.05	%
Tangible common equity ratio	h=(b)/(d)		10.63	%		10.99	%		10.65	%
Book value per share		$	46.26		$	45.59		$	42.50
Tangible book value per share	i=(b)/(f)	$	40.54		$	39.93		$	36.96

		Three months ended									Nine months ended
($ In thousands) (Unaudited)		September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Net interest income before provision for credit losses	a	$	211,878		$	200,897		$	189,587		$	606,943		$	547,447

Non-interest income		$	42,770		$	21,405		$	21,021		$	84,834		$	47,616
Adjustments:
Net unrealized (gains)/losses from equity securities			(36,053	)		(11,652	)		(3,263	)		(65,021	)		2,318
Net loss on investment securities			15,084			10,554			—			41,323			—
TruPS redemption benefit			(3,134	)		—			—			(3,134	)		—
Adjusted non-interest income	b	$	18,667		$	20,307		$	17,758		$	58,002		$	49,934
Adjusted total revenue	c=a+b	$	230,545		$	221,204		$	207,345		$	664,945		$	597,381

Non-interest expense	d	$	103,376		$	92,316		$	88,117		$	282,372		$	262,907
Adjustments:
Amortization of investments in low income housing and alternative energy partnerships			(6,467	)		(9,873	)		(12,149	)		(23,080	)		(32,382	)
Other real estate owned			(442	)		(339	)		1,078			(2,370	)		1,211
Amortization of core deposit intangible			(218	)		(217	)		(229	)		(653	)		(729	)
FDIC special assessment			—			—			327			585			188
Charitable contribution to Cathay Bank Foundation			(8,000	)		—			—			(8,000	)		—
Contract termination costs			(5,383	)		—			—			(5,383	)		—
Adjusted non-interest expense	e	$	82,866		$	81,887		$	77,144		$	243,471		$	231,195

Efficiency ratio			40.6	%		41.5	%		41.8	%		40.8	%		44.2	%
Adjusted efficiency ratio	f=e/c		35.9	%		37.0	%		37.2	%		36.6	%		38.7	%

(In thousands) (Unaudited)	September 30, 2026			June 30, 2026			% Change			September 30, 2025			% Change
Non-performing assets
Accruing loans past due 90 days or more	$	4,994		$	—			100		$	110			4,440

Non-accrual loans:
Commercial real estate loans		47,246			70,157			(33	)		103,158			(54	)
Commercial loans		7,188			8,448			(15	)		33,690			(79	)
Residential mortgage loans		32,844			33,091			(1	)		28,784			14
Total non-accrual loans:	$	87,278		$	111,696			(22	)	$	165,632			(47	)
Total non-performing loans		92,272			111,696			(17	)		165,742			(44	)
Other real estate owned		26,910			33,659			(20	)		32,983			(18	)
Total non-performing assets	$	119,182		$	145,355			(18	)	$	198,725			(40	)
								—
Allowance for loan losses	$	224,190		$	218,896			2		$	186,647			20
Allowance for off-balance sheet credit commitments	$	12,938		$	14,918			(13	)	$	9,860			31
								—
Total gross loans outstanding, at period-end	$	21,195,861		$	20,621,332			3		$	20,104,716			5

Allowance for loan losses to non-performing loans, at period-end		242.97	%		195.97	%					112.61	%
Allowance for loan losses to gross loans, at period-end		1.06	%		1.06	%					0.93	%