Cathay General Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
January 23, 2019 at 09:30 pm
Share
Cathay General Bancorp reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported net interest income before provision for credit losses of $145,441,000 compared to $133,298,000 a year ago. Net income was $64,940,000 or $0.80 per basic and diluted share compared to $25,940,000 or $0.32 per basic and diluted share a year ago.
For the year, the company reported net interest income before provision for credit losses of $565,899,000 compared to $495,709,000 a year ago. Net income was $272,177,000 or $3.35 per basic share compared to $176,042,000 or $2.19 per basic share a year ago. Diluted EPS was $3.34 against $2.17 a year ago.
Cathay General Bancorp is the holding company of Cathay Bank, a California state-chartered commercial bank (the Bank). The Bank services individuals, professionals, and small to medium-sized businesses in the local markets in which its branches are located and provides commercial real estate loans, commercial loans, United States Small Business Administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for, household and other consumer expenditures. It offers products and services to businesses, such as checking and deposit, lines of credit, commercial and commercial real estate loans, merchant services and payment processing, treasury management services, international banking and financing services, and other customary banking services. It offers similar services that are available to consumers. It provides financial services to diverse commercial and professional businesses in its market areas.
CATHAY GENERAL BANCORP 
