Cathay General Bancorp Q3 net income $82.4M ($1.13 EPS), down from $1.28 in Q2; deposits up 11.6% annualized

CATHAY GENERAL BANCORP

2023-Q3 EPS reported $3.73 revenue$32,318,000

Diluted EPS $1.13 vs $1.28 in Q2 and $1.33 year ago; net income fell 11.6% sequentially.
Net interest margin 3.38% vs 3.44% Q2; net interest income rose 2.3% to $185.6M.
Non-interest income plunged 66.2% to $7.8M on $16.9M unrealized equity securities loss.
Total deposits increased $538.6M to $19.6B; gross loans up $71M to $19.0B.
Non-performing assets rose 18.6% to $93.7M; net charge-offs $6.6M vs $2.0M in Q2.

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 1.0

CATHAY GENERAL BANCORP reported the quarter ended September 30, 2023 results: net income $82.4 million, EPS $1.13 per share.

Period: the quarter ended September 30, 2023
Net income: $82.4 million
EPS: $1.13 per share
Result: reported results

Exact text from the filing

Cathay General Bancorp (the “Company”, “we”, “us”, or “our”) (Nasdaq: CATY), the holding company for Cathay Bank, today announced its unaudited financial results for the quarter ended September 30, 2023. The Company reported net income of $82.4 million, or $1.13 per share, for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001157523-23-001522

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