secwatch.observer — SEC 8-K summary
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Issuer:     CATHAY GENERAL BANCORP (CATY)
CIK:        0000861842
Form:       8-K
Filed at:   2021-10-25T23:59:59+00:00
Accession:  0001564590-21-051751
Event type: earnings
Sentiment:  positive
Materiality: 0.72
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cathay General Q3 net income $72.4M, EPS $0.93 up 31% YoY; loans ex-PPP grow 9.1% annualized
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- Net income $72.4M ($0.93 diluted EPS) vs $56.8M ($0.71) in Q3 2020, up 27.5% and 31% YoY.
- Net interest margin widened to 3.22% from 3.02% YoY; net interest income $152.5M, up 10.9%.
- Total loans ex-PPP grew 9.1% annualized; total deposits ex-time deposits up $686.3M (25.9% annualized).
- Board authorized $125M share repurchase program; 942,613 shares repurchased at avg $39.40 during Q3.
- Efficiency ratio improved to 43.85% from 51.53% YoY, driven by lower non-interest expense.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861842/000156459021051751/0001564590-21-051751-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861842/000156459021051751/caty-8k_20211025.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-051751

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