Cathay General Bancorp Q2 net income $89M ($1.18 EPS), up 15% YoY; NIM expands to 3.52%

CATHAY GENERAL BANCORP

2022-Q2 EPS reported $2.17 revenue$21,340,000

Net income $89.0M ($1.18 diluted EPS) vs $77.2M ($0.97) in Q2 2021, up 15.3%.
Net interest margin 3.52% vs 3.24% a year ago; net interest income up 18.4% to $175.1M.
Total loans grew $389.5M (9.5% annualized) to $17.8B, driven by residential mortgage including HSBC branch acquisitions.
Total deposits $18.3B, up $227M (5.0% annualized) in Q2.
Repurchased 0.75M shares for $30.6M at avg $40.78.

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