---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012744"
form_type: "8-K"
ticker: "CATY"
cik: "0000861842"
company_name: "CATHAY GENERAL BANCORP"
filed_at: "2024-04-22T23:59:59+00:00"
generated_at: "2026-06-03T15:00:51.032086+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cathay General Q1 net income $71.4M, EPS $0.98, down 26% YoY; deposits rise 10.8% annualized

## Summary
- Net income $71.4M vs $82.5M in Q4'23 and $96.0M in Q1'23; diluted EPS $0.98, down from $1.13/$1.32.
- Deposits grew $520.8M (10.8% annualized) to $19.85B; net interest margin fell to 3.05% from 3.27%.
- Non-accrual loans jumped 47% to $98.1M; allowance for loan losses at 0.80% of gross loans.
- Non-interest income fell $16.5M largely due to $9.0M mark-to-market loss on equity securities.
- Tier 1 risk-based capital ratio improved to 13.08%; bank remains well capitalized.

## SEC filing metadata
- accession: 0001437749-24-012744
- form_type: 8-K
- ticker: CATY
- cik: 0000861842
- company_name: CATHAY GENERAL BANCORP
- filed_at: 2024-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861842/000143774924012744/0001437749-24-012744-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861842/000143774924012744/caty20240419_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012744
- JSON: https://secwatch.observer/filing/0001437749-24-012744.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012744.txt

## Key facts
- Earnings Releases
  CATHAY GENERAL BANCORP reported the quarter ended March 31, 2024 results: net income $71.4 million, EPS $0.98 per share.
  - Period: the quarter ended March 31, 2024
  - Net income: $71.4 million
  - EPS: $0.98 per share
  - Result: reported results
  source text: On April 22, 2024, Cathay General Bancorp (the “Company”) announced, in a press release, its financial results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/861842/000143774924012744/0001437749-24-012744-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.