Cathay General Bancorp Q4 net income $80.2M, FY net income $286.0M; NIM improved to 3.07%

CATHAY GENERAL BANCORP

2024-FY EPS reported $3.95 revenue$52,263,000

FY2024 diluted EPS $3.95 vs $4.86 in FY2023; net income fell 19.2% to $286.0M.
Q4 net income $80.2M, up 18.8% QoQ from $67.5M; diluted EPS $1.12 vs $0.94.
Net interest margin expanded to 3.07% in Q4 from 3.04% in Q3; full-year NIM 3.04% vs 3.45%.
Total loans $19.38B, down 0.9% YoY; deposits up 1.9% to $19.69B.
Non-accrual loans surged to $169.2M (+154% YoY); allowance coverage of non-performing loans fell to 93.4%.

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