CATHAY GENERAL BANCORP

For the period ended Mar 31, 2026. Filed May 8, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 8, 2026

CATY$65.35-0.0%Stored close · as of Nov 10, 2026

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Contents

Item 1. FINANCIAL STATEMENTS (Unaudited)

CONSOLIDATED BALANCE SHEETS

($ In thousands, except par value and share data)	March 31, 2026	December 31, 2025
Assets
Cash and due from banks	$135,540	$146,320
Short-term investments and interest-bearing deposits	1,069,943	1,278,089
Securities available-for-sale at fair value (amortized cost of $1,740,858 at March 31, 2026, and $1,735,451 at December 31, 2025)	1,678,140	1,658,223
Loans held for sale	6,902	—
Loans held for investment	20,174,589	20,147,202
Less: Allowance for loan losses	(208,786)	(195,911)
Unamortized deferred loan fees, net	(14,164)	(14,903)
Loans held for investment, net	19,951,639	19,936,388
Equity securities (fair value of $26,617 at March 31, 2026, and $32,754 at December 31, 2025)	69,202	51,886
Federal Home Loan Bank stock	17,250	17,250
Other real estate owned, net	33,436	30,336
Affordable housing investments and alternative energy partnerships, net	287,283	287,182
Premises and equipment, net	88,464	87,579
Customers’ liability on acceptances	5,409	4,385
Accrued interest receivable	94,570	96,993
Goodwill	375,696	375,696
Other intangible assets, net	2,450	2,683
Right-of-use assets - operating leases	34,737	34,187
Other assets	197,969	222,378
Total assets	$24,048,630	$24,229,575
Liabilities and Stockholders’ Equity
Deposits:
Non-interest-bearing	$3,399,461	$3,505,606
Interest-bearing:
NOW deposits	2,336,121	2,370,047
Money market deposits	3,701,873	3,800,471
Savings deposits	1,518,300	1,500,890
Time deposits	9,719,892	9,717,153
Total deposits	20,675,647	20,894,167
Long-term debt	119,136	119,136
Acceptances outstanding	5,409	4,385
Lease liabilities - operating leases	36,581	36,102
Other liabilities	225,209	250,397
Total liabilities	21,061,982	21,304,187
Commitments and contingencies	—	—
Stockholders’ Equity
Common stock, $0.01 par value, 100,000,000 shares authorized; 91,818,560 issued and 66,972,039 outstanding at March 31, 2026, and 91,803,148 issued and 67,200,126 outstanding at December 31, 2025	918	918
Additional paid-in-capital	1,003,609	1,001,401
Accumulated other comprehensive loss, net	(44,178)	(54,400)
Retained earnings	2,971,119	2,909,677
Treasury stock, at cost (24,846,521 shares at March 31, 2026, and 24,603,022 shares at December 31, 2025)	(944,820)	(932,208)
Total stockholders' equity	2,986,648	2,925,388
Total liabilities and stockholders' equity	$24,048,630	$24,229,575

CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME

	Three Months Ended March 31,
($ In thousands, except share and per share data)	2026	2025
Interest and Dividend Income
Loans receivable	$298,935	$293,984
Investment securities	12,983	12,103
Federal Home Loan Bank stock	874	379
Deposits with banks	10,118	12,929
Total interest and dividend income	322,910	319,395
Interest Expense
Time deposits	84,846	96,066
Other deposits	41,006	42,434
Advances from Federal Home Loan Bank	1,010	1,904
Long-term debt	1,829	2,020
Short-term debt	51	332
Total interest expense	128,742	142,756
Net interest income before provision for credit losses	194,168	176,639
Provision for credit losses	18,193	15,500
Net interest income after provision for credit losses	175,975	161,139
Non-Interest Income
Net gains/(losses) from equity securities	17,316	(4,191)
Impairment loss on investment securities	(15,685)	—
Letters of credit commissions	2,406	2,091
Depository service fees	2,014	1,752
Wealth management fees	7,102	6,169
Other operating income	7,506	5,383
Total non-interest income	20,659	11,204
Non-Interest Expense
Salaries and employee benefits	45,511	42,427
Occupancy expense	5,816	5,737
Computer and equipment expense	5,627	6,054
Professional services expense	7,782	7,448
Data processing service expense	4,015	4,406
FDIC and regulatory assessments	2,447	3,399
Marketing expense	1,863	1,878
Other real estate owned expense	1,589	244
Amortization of investments in low-income housing and alternative energy partnerships	6,740	9,054
Amortization of core deposit intangibles	218	250
Other operating expense	5,072	4,759
Total non-interest expense	86,680	85,656
Income before income tax expense	109,954	86,687
Income tax expense	23,068	17,181
Net income	$86,886	$69,506
Other Comprehensive Income, net of tax
Net holding gains on securities available-for-sale	10,222	13,860
Total comprehensive income	$97,108	$83,366
Net Income Per Common Share:
Basic	$1.30	$0.99
Diluted	$1.29	$0.98
Cash dividends paid per common share	$0.38	$0.34
Average Common Shares Outstanding:
Basic	67,040,473	70,379,835
Diluted	67,387,657	70,679,640

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’** EQUITY**

Accumulated
Common Stock · Additional · Other · Total
Number of · Paid-in · Comprehensive · Retained · Treasury · Stockholders'
Three Months Ended	Shares	Amount	Capital	(Loss)/Income	Earnings	Stock	Equity
($ In thousands, except share and per share data)
Balance at December 31, 2025	67,200,126	$918	$1,001,401	$(54,400)	$2,909,677	$(932,208)	$2,925,388
Dividend Reinvestment Plan	14,380	—	675	—	—	—	675
Restricted stock units vested	1,032	—	—	—	—	—	—
Shares withheld related to net share
settlement of RSUs	—	—	(38)	—	—	—	(38)
Purchases of treasury stock	(243,499)	—	—	—	—	(12,612)	(12,612)
Stock-based compensation	—	—	1,571	—	—	—	1,571
Cash dividends of $0.38 per share	—	—	—	—	(25,444)	—	(25,444)
Other comprehensive income	—	—	—	10,222	—	—	10,222
Net income	—	—	—	—	86,886	—	86,886
Balance at March 31, 2026	66,972,039	$918	$1,003,609	$(44,178)	$2,971,119	$(944,820)	$2,986,648

Accumulated
Common Stock · Additional · Other · Total
Number of · Paid-in · Comprehensive · Retained · Treasury · Stockholders'
Three Months Ended	Shares	Amount	Capital	(Loss)/Income	Earnings	Stock	Equity
($ In thousands, except share and per share data)
Balance at December 31, 2024	70,863,324	$916	$993,962	$(85,607)	$2,688,353	$(751,920)	$2,845,704
Dividend Reinvestment Plan	15,852	—	695	—	—	—	695
Restricted stock units vested	32,438	—	—	—	—	—	—
Stock issued to directors	—	—	—	—	—	—	—
Shares withheld related to net share
settlement of RSUs	—	—	(791)	—	—	—	(791)
Purchases of treasury stock	(876,906)	—	—	—	—	(41,465)	(41,465)
Stock-based compensation	—	—	1,505	—	—	—	1,505
Cash dividends of $0.34 per share	—	—	—	—	(23,855)	—	(23,855)
Other comprehensive income	—	—	—	13,860	—	—	13,860
Net income	—	—	—	—	69,506	—	69,506
Balance at March 31, 2025	70,034,708	$916	$995,371	$(71,747)	$2,734,004	$(793,385)	$2,865,159

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
	2026	2025
($ In thousands)
Cash Flows from Operating Activities
Net income	$86,886	$69,506
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	18,193	15,500
Deferred tax provision	6,662	978
Depreciation and amortization	1,667	1,835
Amortization of right-of-use asset	2,377	2,305
Change in operating lease liabilities	479	1,269
Net gains on sale and transfers of other real estate owned	(1,277)	—
Net gains on sale of loans	—	(121)
Loss on sales or disposal of premises and equipment	—	14
Amortization on alternative energy partnerships, venture capital and other investments	6,740	9,054
Impairment loss on investment securities	15,685	—
Amortization/accretion of securities available-for-sale premiums/discounts, net	(7,340)	(5,265)
Unrealized (gain)/ loss on equity securities	(17,316)	4,191
Stock-based compensation and stock issued to officers as compensation	1,571	1,505
Net change in accrued interest receivable and other assets	11,415	40,065
Net change in other liabilities	(27,397)	(41,877)
Net cash provided by operating activities	98,345	98,959
Cash Flows from Investing Activities
Purchase of securities available-for-sale	(515,644)	(464,837)
Proceeds from repayments, maturities and calls of securities available-for-sale	501,880	602,868
Proceeds from sale of other real estate owned	2,109	773
Proceeds from sale of loans originally classified as held-for-investment	—	15,263
Net increase in loans	(40,359)	(6,925)
Purchase of premises and equipment	(2,319)	(2,698)
Net (increase)/decrease in affordable housing investments and alternative energy partnerships	(6,992)	771
Net cash (used)/provided for investing activities	(61,325)	145,215
Cash Flows from Financing Activities
(Decrease)/increase in deposits	(218,527)	131,236
Advances from Federal Home Loan Bank	4,331,000	2,399,000
Repayment of Federal Home Loan Bank borrowings	(4,331,000)	(2,364,000)
Cash dividends paid	(25,444)	(23,855)
Purchases of treasury stock	(12,612)	(41,465)
Proceeds from shares issued under Dividend Reinvestment Plan	675	695
Taxes paid related to net share settlement of RSUs	(38)	(791)
Net cash (used)/provided for financing activities	(255,946)	100,820
(Decrease)/increase in cash, cash equivalents, and restricted cash	(218,926)	344,994
Cash, cash equivalents, and restricted cash, beginning of the period	1,424,409	1,039,520
Cash, cash equivalents, and restricted cash, end of the period	$1,205,483	$1,384,514
Supplemental Cash Flow Information
Cash paid during the period:
Interest	$131,460	$147,629
Income taxes	$4,393	$370
Non-cash investing and financing activities:
Net change in unrealized holding gain on securities available-for-sale, net of tax	$10,222	$13,860
Loans transferred from held-for-investment to held-for-sale	$6,902	$26,901
Transfers to other real estate owned from loans held-for-investment	$3,932	$1,186

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.