secwatch.observer — SEC 8-K summary
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Issuer:     CATHAY GENERAL BANCORP (CATY)
CIK:        0000861842
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001437749-24-031649
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861842/000143774924031649/0001437749-24-031649-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861842/000143774924031649/caty20241019_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-031649

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