Cathay General Q1 net income $96.0M ($1.32 EPS); deposits up $143.6M to $18.65B

CATHAY GENERAL BANCORP

2023-Q1 EPS reported $1.32 revenue$9,960,000

Net income $96.0M, down 1.6% from Q4 2022; diluted EPS $1.32 vs $1.33.
Total deposits increased $143.6M to $18.65B; non-interest-bearing deposits fell $420M to $3.75B.
Net interest margin narrowed to 3.74% from 3.87% QoQ; net interest income down 4.7% to $192.4M.
Provision for credit losses rose to $8.1M from $1.4M in Q4 2022; net charge-offs $4.9M.
Recorded $3.0M write-off of Signature Bank debt securities; efficiency ratio 40.3%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CATHAY GENERAL BANCORP reported the first quarter ended March 31, 2023 results: net income $96.0 million, EPS $1.32 per share.

Period: the first quarter ended March 31, 2023
Net income: $96.0 million
EPS: $1.32 per share
Result: reported results

Exact text from the filing

On April 20, 2023, Cathay General Bancorp (the “Company”) announced, in a press release, its financial results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001157523-23-000590

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