Cathay General Bancorp Q3 net income $67.5M, EPS $0.94; NIM expands to 3.04%

CATHAY GENERAL BANCORP

2024-Q3 EPS reported $2.83 revenue$38,620,000

Diluted EPS $0.94 vs $0.92 in Q2; net income up 1% sequentially to $67.5M.
Net interest margin improved to 3.04% from 3.01% in Q2; net interest income $169.2M.
Total deposits rose $170.9M to $19.94B; non-accrual loans surged 52% to $162.8M.
Provision for credit losses $14.5M vs $6.6M in Q2; allowance 0.85% of gross loans.
Repurchased 0.8M shares at avg $42.00 for $35M during Q3.

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