# EDGAR Filing Document

**Accession Number:** 0000861842
**File Stem:** 0001437749-25-023229
**Filing Date:** 2025-7
**Character Count:** 41820
**Document Hash:** b7862c62a0727f67196a074777742972
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-023229.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001437749-25-023229

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20250722

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CATHAY GENERAL BANCORP
- **CENTRAL INDEX KEY:** 0000861842
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 954274680
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31830
- **FILM NUMBER:** 251140618

**BUSINESS ADDRESS:**
- **STREET 1:** 777 N BROADWAY
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90012
- **BUSINESS PHONE:** 2136254700

**MAIL ADDRESS:**
- **STREET 1:** 777 NORTH BROADWAY
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90012

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CATHAY BANCORP INC
- **DATE OF NAME CHANGE:** 19930328

?xml version='1.0' encoding='ASCII'? caty20250722_8k.htm

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): July 22, 2025

**CATHAY GENERAL BANCORP**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| Delaware | 001-31830 | 95-4274680 |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| 777 North Broadway, Los Angeles, California | 90012 |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: (213) 625-4700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock | CATY | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.**  |

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On July 22, 2025, Cathay General Bancorp (the "Company") announced, in a press release, its financial results for the quarter ended June 30, 2025. That press release is attached hereto as Exhibit 99.1.

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| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure** |

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As announced in the press release attached hereto as Exhibit 99.1, the Company will host a conference call on Tuesday, July 22, 2025 at 3:00 p.m. Pacific Time to discuss its second quarter 2025 financial results. A presentation to accompany the conference call, which contains certain historical and forward-looking information relating to the Company (the "Presentation Materials"), has been made available on its website at www.cathaygeneralbancorp.com. A copy of the Presentation Materials is attached hereto as Exhibit 99.2.

The information included in this report pursuant to Item 2.02 and Item 7.01 of Form 8-K (including Exhibit 99.1 and Exhibit 99.2) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

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| | | |
|:---|:---|:---|
| (d) | <u>Exhibits</u> | <u>Exhibits</u> |
|  | 99.1 | [Press Release of Cathay General Bancorp, dated July 22, 2025](ex_841637.htm) |
|  | 99.2 | [Presentation Materials, dated July 22, 2025](ex_841924.htm) |
|  | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: July 22, 2025

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| | |
|:---|:---|
| CATHAY GENERAL BANCORP | CATHAY GENERAL BANCORP |
| By:  | /s/ Heng W. Chen |
|  | Heng W. Chen |
|  | Executive Vice President and |
|  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>FOR IMMEDIATE RELEASE</u>**

For: Cathay General Bancorp Contact: Heng W. Chen <br> 777 N. Broadway (626) 279-3652 <br> Los Angeles, CA 90012

**<u>Cathay General Bancorp Announces Second Quarter 2025 Results</u>**

Los Angeles, Calif., July 22, 2025: Cathay General Bancorp (the "Company", "we", "us", or "our") (Nasdaq: CATY), the holding company for Cathay Bank, today announced its unaudited financial results for the quarter ended June 30, 2025. The Company reported net income of $77.5 million, or $1.10 per diluted share, for the second quarter of 2025.

**FINANCIAL PERFORMANCE**

---

| | | | |
|:---|:---|:---|:---|
|  | Three months ended | Three months ended | Three months ended |
| (unaudited) | June 30, 2025 | March 31, 2025 | June 30, 2024 |
| Net income (millions) | $77.5 | $69.5 | $66.8 |
| Basic earnings per common share | $1.11 | $0.99 | $0.92 |
| Diluted earnings per common share | $1.10 | $0.98 | $0.92 |
| Return on average assets | 1.33% | 1.22% | 1.15% |
| Return on average total stockholders' equity | 10.72% | 9.84% | 9.63% |
| Efficiency ratio | 45.34% | 45.60% | 55.65% |

---

**SECOND QUARTER HIGHLIGHTS**

&nbsp;&nbsp;&nbsp;&nbsp;● Net interest margin increased to 3.27% during the second quarter from 3.25% in the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;● Total loans, excluding loans held for sale, increased to $19.78 billion, or 2.23%, from $19.35 billion in the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;● Total deposits increased $188.8 million, or 0.95%, to $20.01 billion in the second quarter of 2025.

"We are pleased by the continued increase in the net interest margin compared to the first quarter of 2025. On June 4, 2025, the Company announced a new stock repurchase program to buy back up to $150.0 million of the Company's common stock. During the second quarter, we repurchased 804,179 common shares at an average cost of $44.22 per share, for a total of $35.6 million." commented Chang M. Liu, President and Chief Executive Officer of the Company.

**INCOME STATEMENT REVIEW**

**SECOND QUARTER 2025 COMPARED TO THE FIRST QUARTER 2025**

Net income for the quarter ended June 30, 2025, was $77.5 million, an increase of $8.0 million, or 11.5%, compared to net income of $69.5 million for the first quarter of 2025. Diluted earnings per share for the second quarter of 2025 was $1.10 per share compared to $0.98 per share for the first quarter of 2025.

Return on average stockholders' equity was 10.72% and return on average assets was 1.33% for the quarter ended June 30, 2025, compared to a return on average stockholders' equity of 9.84% and a return on average assets of 1.22% in the first quarter of 2025.

------

*Net interest income before provision for credit losses*

Net interest income before provision for credit losses increased $4.6 million, or 2.6%, to $181.2 million during the second quarter of 2025, compared to $176.6 million in the first quarter of 2025. The increase was due primarily to an increase in interest income from loans and securities and a decrease in deposit expense.

The net interest margin was 3.27% for the second quarter of 2025 compared to 3.25% for the first quarter of 2025.

For the second quarter of 2025, the yield on average interest-earning assets was 5.83%, the cost of funds on average interest-bearing liabilities was 3.37%, and the cost of average interest-bearing deposits was 3.35%. In comparison, for the first quarter of 2025, the yield on average interest-earning assets was 5.89%, the cost of funds on average interest-bearing liabilities was 3.46%, and the cost of average interest-bearing deposits was 3.43%. The decrease in the yield on average interest-bearing liabilities resulted mainly from lower interest rates on deposits driven by the lower repricing of maturing time deposits in the second quarter. The decrease in the yield on average interest-earning assets resulted mainly from lower interest rates on loans due to the decreasing rate environment. The net interest spread, defined as the difference between the yield on average interest-earning assets and the cost of funds on average interest-bearing liabilities, was 2.46% for the second quarter of 2025, compared to 2.43% for the first quarter of 2025.

*Provision for credit losses*

The Company recorded a provision for credit losses of $11.2 million in the second quarter of 2025 compared to $15.5 million in the first quarter of 2025. As of June 30, 2025, the allowance for credit losses decreased by $1.6 million to $183.4 million, or 0.93% of gross loans, compared to $185.0 million, or 0.96% of gross loans as of March 31, 2025.

The following table sets forth the charge-offs and recoveries for the periods indicated:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three months ended | Three months ended | Three months ended | Six months ended June 30, | Six months ended June 30, |
|  | June 30, 2025 | March 31, 2025 | June 30, 2024 | 2025 | 2024 |
|  | (In thousands) (Unaudited) | (In thousands) (Unaudited) | (In thousands) (Unaudited) |  |  |
| **Charge-offs:** |  |  |  |  |  |
| Commercial loans | $9117 | $2344 | $8257 | $11461 | $10196 |
| Real estate loans <sup>(1)</sup> | 3913 |  |  | 3913 | 254 |
| Total charge-offs | 13030 | 2344 | 8257 | 15374 | 10450 |
| **Recoveries:** |  |  |  |  |  |
| Commercial loans | 196 | 270 | 126 | 465 | 938 |
| Construction loans |  |  |  | 1 |  |
| Real estate loans <sup>(1)</sup> | 93 | 97 | 134 | 190 | 375 |
| Total recoveries | 289 | 367 | 260 | 656 | 1313 |
| Net charge-offs | $12741 | $1977 | $7997 | $14718 | $9137 |

---

<sup>(1)</sup> Real estate loans include commercial real estate loans, residential mortgage loans and equity lines.

------

*Non-interest income*

Non-interest income, which includes revenues from depository service fees, letters of credit commissions, securities gains (losses), wealth management fees, and other sources of fee income, was $15.4 million for the second quarter of 2025, an increase of $4.2 million, or 37.5%, compared to $11.2 million for the first quarter of 2025. The increase was primarily due to a decrease of $2.8 million in loss on equity securities and an increase of $1.8 million in fees from interest rate swaps, when compared to the first quarter of 2025.

*Non-interest expense*

Non-interest expense increased $3.4 million, or 4.0%, to $89.1 million in the second quarter of 2025 compared to $85.7 million in the first quarter of 2025. The increase in non-interest expense in the second quarter of 2025 was primarily due to an increase of $2.1 million, in amortization expense of investments in low-income housing and alternative energy partnerships, and an increase of $1.4 million in professional services, when compared to the first quarter of 2025. The efficiency ratio, defined as non-interest expense divided by the sum of net interest income before provision for loan losses plus non-interest income, was 45.34% in the second quarter of 2025 compared to 45.60% for the first quarter of 2025.

*Income taxes*

The effective tax rate for the second quarter of 2025 was 19.56% compared to 19.82% for the first quarter of 2025. The effective tax rate for the first and second quarter of 2025 includes the impact of low-income housing tax credits.

**BALANCE SHEET REVIEW**

Gross loans, excluding loans held for sale, were $19.78 billion as of June 30, 2025, an increase of $431.7 million, or 2.23%, from $19.35 billion as of March 31, 2025. The increase was primarily due to an increase of $202.2 million, or 2.0%, in commercial real estate loans, $196.3 million, or 6.5%, in commercial loans, $68.6 million, or 1.2%, in residential mortgage loans, offset by a decrease of $31.6 million, or 9.5%, in construction loans.

The loan balances and composition as of June 30, 2025, compared to March 31, 2025, and June 30, 2024, are presented below:

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| | | | |
|:---|:---|:---|:---|
|  | June 30, 2025 | March 31, 2025 | June 30, 2024 |
|  | (In thousands) (Unaudited) | (In thousands) (Unaudited) | (In thousands) (Unaudited) |
| Commercial loans | $3194724 | $2998423 | $3090763 |
| Construction loans | 301125 | 332729 | 356978 |
| Commercial real estate loans | 10363109 | 10160934 | 9886030 |
| Residential mortgage loans | 5692142 | 5623564 | 5782202 |
| Equity lines | 230001 | 231184 | 235277 |
| Installment and other loans | 3601 | 6169 | 6274 |
| Gross loans | $19784702 | $19353003 | $19357524 |
| Allowance for loan losses | (173531) | (173936) | (153404) |
| Unamortized deferred loan fees | (13834) | (11657) | (10785) |
| Total loans held for investment, net | $19597337 | $19167410 | $19193335 |
| Loans held for sale | $13338 | $11759 | $— |

---

Total deposits were $20.01 billion as of June 30, 2025, an increase of $188.8 million, or 1.0%, from $19.82 billion as of March 31, 2025.

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The deposit balances and composition as of June 30, 2025, compared to March 31, 2025, and June 30, 2024, are presented below:

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| | | | |
|:---|:---|:---|:---|
|  | June 30, 2025 | March 31, 2025 | June 30, 2024 |
|  | (In thousands) (Unaudited) | (In thousands) (Unaudited) | (In thousands) (Unaudited) |
| Non-interest-bearing demand deposits | $3381407 | $3361245 | $3161632 |
| NOW deposits | 2174108 | 2131445 | 2145580 |
| Money market deposits | 3431060 | 3423953 | 3182031 |
| Savings deposits | 1317104 | 1266561 | 1014287 |
| Time deposits | 9702651 | 9634324 | 10269487 |
| Total deposits | $20006330 | $19817528 | $19773017 |

---

**ASSET QUALITY REVIEW**

As of June 30, 2025, total non-accrual loans were $174.2 million, an increase of $19.6 million, or 12.7%, from $154.6 million as of March 31, 2025.

The allowance for loan losses was $173.5 million and the allowance for off-balance sheet unfunded credit commitments was $9.9 million as of June 30, 2025. The allowances represent the amount estimated by management to be appropriate to absorb expected credit losses inherent in the loan portfolio, including unfunded credit commitments. The allowance for loan losses represented 0.88% of period-end gross loans, and 96.12% of non-performing loans as of June 30, 2025. The comparable ratios were 0.90% of period-end gross loans, and 112.06% of non-performing loans as of March 31, 2025.

The changes in non-performing assets and loan modifications to borrowers experiencing financial difficulty as of June 30, 2025, compared to March 31, 2025, and June 30, 2024, are presented below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (In thousands) (Unaudited) | June 30, 2025 | March 31, 2025 | %<br> Change | June 30, 2024 | %<br> Change |
| **Non-performing assets** |  |  |  |  |  |
| Accruing loans past due 90 days or more | $6389 | $595 | 974 | $3443 | 86 |
| Non-accrual loans: |  |  |  |  |  |
| Construction loans | 4230 |  |  | 22998 | (82) |
| Commercial real estate loans | 93754 | 76802 | 22 | 60085 | 56 |
| Commercial loans | 54536 | 53362 | 2 | 4075 | 1238 |
| Residential mortgage loans | 21633 | 24462 | (12) | 20112 | 8 |
| Total non-accrual loans: | $174153 | $154626 | 13 | $107270 | 62 |
| Total non-performing loans | 180542 | 155221 | 16 | 110713 | 63 |
| Other real estate owned | 18990 | 18484 | 3 | 18277 | 4 |
| Total non-performing assets | $199532 | $173705 | 15 | $128990 | 55 |
| Accruing loan modifications to borrowers experiencing financial difficulties | $10485 | $8213 | 28 | $— |  |
| Allowance for loan losses | $173531 | $173936 | (0) | $153404 | 13 |
| Total gross loans outstanding, at period-end | $19784702 | $19353003 | 2 | $19357524 | 2 |
| Allowance for loan losses to non-performing loans, at period-end | 96.12% | 112.06% |  | 138.56% |  |
| Allowance for loan losses to gross loans, at period-end | 0.88% | 0.90% |  | 0.79% |  |

---

The ratio of non-performing assets to total assets was 0.84% as of June 30, 2025, compared to 0.75% as of March 31, 2025. Total non-performing assets increased $25.8 million, or 14.9%, to $199.5 million as of June 30, 2025, compared to $173.7 million as of March 31, 2025, primarily due to an increase of $19.5 million, or 12.6%, in non-accrual loans, an increase of $5.8 million, or 973.8%, in accruing loans past due 90 days or more and an increase of $0.5 million, or 2.7%, in other real estate owned.

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**CAPITAL ADEQUACY REVIEW**

As of June 30, 2025, the Company's Tier 1 risk-based capital ratio of 13.35%, total risk-based capital ratio of 14.92%, and Tier 1 leverage capital ratio of 11.09%, calculated under the Basel III capital rules, continue to place the Company in the "well capitalized" category for regulatory purposes, which is defined as institutions with a Tier 1 risk-based capital ratio equal to or greater than 8%, a total risk-based capital ratio equal to or greater than 10%, and a Tier 1 leverage capital ratio equal to or greater than 5%. As of March 31, 2025, the Company's Tier 1 risk-based capital ratio was 13.58%, total risk-based capital ratio was 15.19%, and Tier 1 leverage capital ratio was 11.06%.

**YEAR-TO-DATE REVIEW**

Net income for the six months ending June 30, 2025, was $147.0 million, an increase of $8.7 million, or 6.3%, compared to net income of $138.3 million for the same period a year ago. Diluted earnings per share for the six months ending June 30, 2025 was $2.09 per share compared to $1.90 per share for the same period a year ago. The net interest margin for the six months ended June 30, 2025, was 3.26% compared to 3.03% for the same period a year ago.

Return on average stockholders' equity was 10.28% and return on average assets was 1.27% for the six months ended June 30, 2025, compared to a return on average stockholders' equity of 10.01% and a return on average assets of 1.19% for the same period a year ago. The efficiency ratio for the six months ended June 30, 2025, was 45.46% compared to 54.45% for the same period a year ago.

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**CONFERENCE CALL** 

Cathay General Bancorp will host a conference call to discuss its second quarter 2025 financial results this afternoon, Tuesday, July 22, 2025, at 3:00 p.m., Pacific Time. Analysts and investors may dial in and participate in the question-and-answer session. To access the call, please dial 1-833-816-1377 and enter Conference ID 10201334. The presentation accompanying this call and access to the live webcast is available on our site at <u>www.cathaygeneralbancorp.com</u> and a replay of the webcast will be archived for one year within 24 hours after the event.

**ABOUT CATHAY GENERAL BANCORP**

Cathay General Bancorp is a publicly traded company (Nasdaq: CATY) and is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services and currently operate over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. Overseas, it has a branch outlet in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. To learn more about Cathay Bank, please visit www.cathaybank.com. Cathay General Bancorp's website is at www.cathaygeneralbancorp.com. Information set forth on such websites is not incorporated into this press release.

**FORWARD-LOOKING STATEMENTS**

Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management's beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as "aims," "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "hopes," "intends," "may," "plans," "projects," "predicts," "potential," "possible," "optimistic," "seeks," "shall," "should," "will," and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions of management and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising from local, regional, national and international business, market and economic conditions and events, the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors and the impact they may have on us, our customers and our operations, assets and liabilities; possible additional provisions for loan losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to including potential future supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation; higher capital requirements from the implementation of the Basel III capital standards; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; our ability to generate anticipated returns on our investments and financings, including in tax-advantaged projects; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; natural disasters, public health crises and geopolitical events; general economic or business conditions in Asia, and other regions where Cathay Bank has operations; failures, interruptions, or security breaches of our information systems; our ability to adapt our systems to technological changes; risk management processes and strategies; adverse results in legal proceedings; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in accounting standards or tax laws and regulations; market disruption and volatility; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuance of preferred stock; successfully raising additional capital, if needed, and the resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; and general competitive, economic political, and market conditions and fluctuations.

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These and other factors are further described in Cathay General Bancorp's Annual Report on Form 10-K for the year ended December 31, 2024 (Item 1A in particular), other reports filed with the Securities and Exchange Commission ("SEC"), and other filings Cathay General Bancorp makes with the SEC from time to time. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we undertake no obligation to update or review any forward-looking statement to reflect circumstances, developments or events occurring after the date on which the statement is made or to reflect the occurrence of unanticipated events.

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**CATHAY GENERAL BANCORP**

**CONSOLIDATED FINANCIAL HIGHLIGHTS**

**(Unaudited)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three months ended | Three months ended | Three months ended | Six months ended June 30, | Six months ended June 30, |
| (In thousands, except per share data) | June 30, 2025 | March 31, 2025 | June 30, 2024 | 2025 | 2024 |
| **Financial performance** |  |  |  |  |  |
| Net interest income before provision for credit losses | $181221 | $176639 | $165316 | $357860 | $333888 |
| Provision for credit losses | 11200 | 15500 | 6600 | 26700 | 8500 |
| Net interest income after provision for credit losses | 170021 | 161139 | 158716 | 331160 | 325388 |
| Non-interest income | 15391 | 11204 | 13215 | 26595 | 19826 |
| Non-interest expense | 89134 | 85656 | 99352 | 174790 | 192591 |
| Income before income tax expense | 96278 | 86687 | 72579 | 182965 | 152623 |
| Income tax expense | 18828 | 17181 | 5750 | 36009 | 14359 |
| Net income | $77450 | $69506 | $66829 | $146956 | $138264 |
| Net income per common share: |  |  |  |  |  |
| Basic | $1.11 | $0.99 | $0.92 | $2.09 | $1.90 |
| Diluted | $1.10 | $0.98 | $0.92 | $2.09 | $1.90 |
| Cash dividends paid per common share | $0.34 | $0.34 | $0.34 | $0.68 | $0.68 |
| **Selected ratios** |  |  |  |  |  |
| Return on average assets | 1.33% | 1.22% | 1.15% | 1.27% | 1.19% |
| Return on average total stockholders' equity | 10.72% | 9.84% | 9.63% | 10.28% | 10.01% |
| Efficiency ratio | 45.34% | 45.60% | 55.65% | 45.46% | 54.45% |
| Dividend payout ratio | 30.79% | 34.32% | 37.06% | 32.46% | 35.78% |
| **Yield analysis (Fully taxable equivalent)** |  |  |  |  |  |
| Total interest-earning assets | 5.83% | 5.89% | 6.05% | 5.86% | 6.03% |
| Total interest-bearing liabilities | 3.37% | 3.46% | 3.97% | 3.42% | 3.92% |
| Net interest spread | 2.46% | 2.43% | 2.08% | 2.44% | 2.11% |
| Net interest margin | 3.27% | 3.25% | 3.01% | 3.26% | 3.03% |

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| | | | |
|:---|:---|:---|:---|
| **Capital ratios** | June 30, 2025 | March 31, 2025 | June 30, 2024 |
| Tier 1 risk-based capital ratio | 13.35% | 13.58% | 13.26% |
| Total risk-based capital ratio | 14.92% | 15.19% | 14.74% |
| Tier 1 leverage capital ratio | 11.09% | 11.06% | 10.83% |

---

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**CATHAY GENERAL BANCORP**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| (In thousands, except share and per share data) | June 30, 2025 | March 31, 2025 | June 30, 2024 |
| **Assets** |  |  |  |
| Cash and due from banks | $190011 | $175027 | $160389 |
| Short-term investments and interest bearing deposits | 1056964 | 1209487 | 944612 |
| Securities available-for-sale (amortized cost of $1,746,703 at June 30, 2025, $1,535,896 at March 31, 2025 and $1,780,251 at June 30, 2024) | 1648433 | 1434040 | 1648731 |
| Loans held for sale | 13338 | 11759 |  |
| Loans | 19784702 | 19353003 | 19357524 |
| Less: Allowance for loan losses | (173531) | (173936) | (153404) |
| &nbsp;&nbsp;&nbsp;&nbsp;Unamortized deferred loan fees, net | (13834) | (11657) | (10785) |
| Loans, net | 19597337 | 19167410 | 19193335 |
| Equity securities | 28849 | 30238 | 31488 |
| Federal Home Loan Bank stock | 17250 | 17250 | 17250 |
| Other real estate owned, net | 18990 | 18484 | 18277 |
| Affordable housing investments and alternative energy partnerships, net | 289550 | 285707 | 309834 |
| Premises and equipment, net | 89556 | 89760 | 89451 |
| Customers' liability on acceptances | 9622 | 12678 | 16264 |
| Accrued interest receivable | 96646 | 95755 | 99434 |
| Goodwill | 375696 | 375696 | 375696 |
| Other intangible assets, net | 2888 | 3101 | 3860 |
| Right-of-use assets- operating leases | 32291 | 30021 | 32858 |
| Other assets | 256426 | 248609 | 293766 |
| **Total assets** | $**23723847** | $**23205022** | $**23235245** |
| **Liabilities and Stockholders**' **Equity** |  |  |  |
| Deposits: |  |  |  |
| Non-interest-bearing demand deposits | $3381407 | $3361245 | $3161632 |
| Interest-bearing deposits: |  |  |  |
| NOW deposits | 2174108 | 2131445 | 2145580 |
| Money market deposits | 3431060 | 3423953 | 3182031 |
| Savings deposits | 1317104 | 1266561 | 1014287 |
| Time deposits | 9702651 | 9634324 | 10269487 |
| Total deposits | 20006330 | 19817528 | 19773017 |
| Advances from the Federal Home Loan Bank | 412000 | 95000 | 165000 |
| Other borrowings for affordable housing investments | 17652 | 17696 | 17838 |
| Long-term debt | 119136 | 119136 | 119136 |
| Acceptances outstanding | 9622 | 12678 | 16264 |
| Lease liabilities - operating leases | 34304 | 32120 | 35355 |
| Other liabilities | 238508 | 245705 | 315393 |
| **Total liabilities** | 20837552 | 20339863 | 20442003 |
| Stockholders' equity | 2886295 | 2865159 | 2793242 |
| **Total liabilities and equity** | $**23723847** | $**23205022** | $**23235245** |
| Book value per common share | $41.62 | $40.91 | $38.70 |
| Number of common shares outstanding | 69343395 | 70034708 | 72170433 |

---

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**CATHAY GENERAL BANCORP**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** 

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three months ended | Three months ended | Three months ended | Six months ended June 30, | Six months ended June 30, |
|  | June 30, 2025 | March 31, 2025 | June 30, 2024 | 2025 | 2024 |
|  | (In thousands, except share and per share data) | (In thousands, except share and per share data) | (In thousands, except share and per share data) |  |  |
| **Interest and Dividend Income** |  |  |  |  |  |
| Loan receivable, including loan fees | $296857 | $293984 | $303336 | $590841 | $605864 |
| Investment securities | 13666 | 12103 | 15644 | 25769 | 30595 |
| Federal Home Loan Bank stock | 373 | 379 | 499 | 752 | 930 |
| Deposits with banks | 12022 | 12929 | 13381 | 24951 | 28113 |
| Total interest and dividend income | 322918 | 319395 | 332860 | 642313 | 665502 |
| **Interest Expense** |  |  |  |  |  |
| Time deposits | 94364 | 96066 | 118076 | 190430 | 227622 |
| Other deposits | 44370 | 42434 | 44512 | 86804 | 87300 |
| Advances from Federal Home Loan Bank | 742 | 1904 | 2316 | 2646 | 11632 |
| Long-term debt | 2029 | 2020 | 1863 | 4049 | 3584 |
| Short-term borrowings | 192 | 332 | 777 | 524 | 1476 |
| Total interest expense | 141697 | 142756 | 167544 | 284453 | 331614 |
| Net interest income before provision for credit losses | 181221 | 176639 | 165316 | 357860 | 333888 |
| Provision for credit losses | 11200 | 15500 | 6600 | 26700 | 8500 |
| Net interest income after provision for credit losses | 170021 | 161139 | 158716 | 331160 | 325388 |
| **Non-Interest Income** |  |  |  |  |  |
| Net losses from equity securities | (1390) | (4191) | (1430) | (5581) | (10457) |
| Debt securities gains, net |  |  |  |  | 1107 |
| Letters of credit commissions | 2120 | 2091 | 1888 | 4211 | 3605 |
| Depository service fees | 1925 | 1752 | 1778 | 3677 | 3328 |
| Wealth management fees | 4936 | 6169 | 5678 | 11105 | 11316 |
| Other operating income | 7800 | 5383 | 5301 | 13183 | 10927 |
| Total non-interest income | 15391 | 11204 | 13215 | 26595 | 19826 |
| **Non-Interest Expense** |  |  |  |  |  |
| Salaries and employee benefits | 43123 | 42427 | 40439 | 85550 | 83991 |
| Occupancy expense | 5950 | 5737 | 5652 | 11687 | 11619 |
| Computer and equipment expense | 5160 | 6054 | 5391 | 11214 | 10459 |
| Professional services expense | 8888 | 7448 | 8212 | 16336 | 15204 |
| Data processing service expense | 4631 | 4406 | 3877 | 9037 | 7806 |
| FDIC and State assessments | 3177 | 3399 | 3742 | 6576 | 9831 |
| Marketing expense | 1113 | 1878 | 1474 | 2991 | 3388 |
| Other real estate owned expense | (377) | 244 | 1482 | (133) | 1735 |
| Amortization of investments in low income housing and<br> alternative energy partnerships | 11179 | 9054 | 23396 | 20233 | 37828 |
| Amortization of core deposit intangibles | 250 | 250 | 259 | 500 | 598 |
| Other operating expense | 6040 | 4759 | 5428 | 10799 | 10132 |
| Total non-interest expense | 89134 | 85656 | 99352 | 174790 | 192591 |
| **Income before income tax expense** | 96278 | 86687 | 72579 | 182965 | 152623 |
| Income tax expense | 18828 | 17181 | 5750 | 36009 | 14359 |
| **Net income** | $**77450** | $**69506** | $**66829** | $**146956** | $**138264** |
| **Net income per common share:** |  |  |  |  |  |
| Basic | $1.11 | $0.99 | $0.92 | $2.09 | $1.90 |
| Diluted | $1.10 | $0.98 | $0.92 | $2.09 | $1.90 |
| Cash dividends paid per common share | $0.34 | $0.34 | $0.34 | $0.68 | $0.68 |
| Basic average common shares outstanding | 69989825 | 70379835 | 72658810 | 70183752 | 72666392 |
| Diluted average common shares outstanding | 70188902 | 70679640 | 72825356 | 70432916 | 72898256 |

---

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**CATHAY GENERAL BANCORP**

**AVERAGE BALANCES** – **SELECTED CONSOLIDATED FINANCIAL INFORMATION**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Three months ended | Three months ended | Three months ended | Three months ended | Three months ended |  |
| (In thousands)(Unaudited) | June 30, 2025 | June 30, 2025 | March 31, 2025 | March 31, 2025 | June 30, 2024 | June 30, 2024 |
| **Interest-earning assets:** | Average<br> Balance | Average Yield/Rate <sup>(1)</sup> | Average<br> Balance | Average Yield/Rate <sup>(1)</sup> | Average Balance | Average Yield/Rate <sup>(1)</sup> |
| Loans <sup>(1)</sup> | $19489400 | 6.11% | $19332602 | 6.17% | $19439112 | 6.28% |
| Taxable investment securities | 1622309 | 3.38% | 1457724 | 3.37% | 1667279 | 3.77% |
| FHLB stock | 17250 | 8.65% | 17250 | 8.92% | 17250 | 11.63% |
| Deposits with banks | 1102579 | 4.37% | 1202304 | 4.36% | 997808 | 5.39% |
| Total interest-earning assets | $22231538 | 5.83% | $22009880 | 5.89% | $22121449 | 6.05% |
| **Interest-bearing liabilities:** |  |  |  |  |  |  |
| Interest-bearing demand deposits | $2133874 | 1.71% | $2142241 | 1.68% | $2169045 | 2.07% |
| Money market deposits | 3464685 | 3.44% | 3382292 | 3.43% | 3217813 | 3.77% |
| Savings deposits | 1343043 | 1.67% | 1289628 | 1.57% | 1037771 | 1.23% |
| Time deposits | 9692056 | 3.91% | 9582826 | 4.07% | 10185497 | 4.66% |
| Total interest-bearing deposits | $16633658 | 3.35% | $16396987 | 3.43% | $16610126 | 3.94% |
| Other borrowed funds | 103059 | 3.63% | 215021 | 4.22% | 235234 | 5.29% |
| Long-term debt | 119136 | 6.83% | 119136 | 6.88% | 119136 | 6.29% |
| Total interest-bearing liabilities | 16855853 | 3.37% | 16731144 | 3.46% | 16964496 | 3.97% |
| Non-interest-bearing demand deposits | 3331433 |  | 3305149 |  | 3247498 |  |
| Total deposits and other borrowed funds | $20187286 |  | $20036293 |  | $20211994 |  |
| Total average assets | $23349928 |  | $23187878 |  | $23336454 |  |
| Total average equity | $2898960 |  | $2864709 |  | $2792557 |  |

---

<sup>(1)</sup> Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended | Six months ended | Six months ended | Six months ended |
| (In thousands)(Unaudited) | June 30, 2025 | June 30, 2025 | June 30, 2024 | June 30, 2024 |
| **Interest-earning assets:** | Average Balance | Average Yield/Rate <sup>(1)</sup> | Average Balance | Average Yield/Rate <sup>(1)</sup> |
| Loans <sup>(1)</sup> | $19411434 | 6.14% | $19469033 | 6.26% |
| Taxable investment securities | 1540471 | 3.37% | 1652798 | 3.72% |
| FHLB stock | 17250 | 8.79% | 20128 | 9.29% |
| Deposits with banks | 1152166 | 4.37% | 1045890 | 5.41% |
| Total interest-earning assets | $22121321 | 5.86% | $22187849 | 6.03% |
| **Interest-bearing liabilities:** |  |  |  |  |
| Interest-bearing demand deposits | $2138034 | 1.69% | $2240645 | 2.13% |
| Money market deposits | 3423716 | 3.43% | 3166055 | 3.66% |
| Savings deposits | 1316483 | 1.62% | 1041938 | 1.16% |
| Time deposits | 9637742 | 3.98% | 9953207 | 4.60% |
| Total interest-bearing deposits | $16515975 | 3.38% | $16401845 | 3.86% |
| Other borrowed funds | 158731 | 4.03% | 483007 | 5.46% |
| Long-term debt | 119136 | 6.85% | 119136 | 6.05% |
| Total interest-bearing liabilities | 16793842 | 3.42% | 17003988 | 3.92% |
| Non-interest-bearing demand deposits | 3318364 |  | 3293024 |  |
| Total deposits and other borrowed funds | $20112206 |  | $20297012 |  |
| Total average assets | $23269350 |  | $23394177 |  |
| Total average equity | $2881929 |  | $2777200 |  |

---

<sup>(1)</sup> Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.

------

**CATHAY GENERAL BANCORP**

**GAAP to NON-GAAP RECONCILIATION** 

**SELECTED CONSOLIDATED FINANCIAL INFORMATION**

**(Unaudited)**

The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. Tangible equity and tangible equity to tangible assets ratio are non-GAAP financial measures. Tangible equity and tangible assets represent stockholders' equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | As of | As of | As of |
|  |  | June 30, 2025 | March 31, 2025 | June 30, 2024 |
|  |  | (In thousands) (Unaudited) | (In thousands) (Unaudited) | (In thousands) (Unaudited) |
| Stockholders' equity | (a) | $2886295 | $2865159 | $2793242 |
| Less: Goodwill | Less: Goodwill | (375696) | (375696) | (375696) |
| Other intangible assets <sup>(1)</sup> | Other intangible assets <sup>(1)</sup> | (2888) | (3101) | (3860) |
| Tangible equity | (b) | $2507711 | $2486362 | $2413686 |
| Total assets | (c) | $23723847 | $23205022 | $23235245 |
| Less: Goodwill | Less: Goodwill | (375696) | (375696) | (375696) |
| Other intangible assets <sup>(1)</sup> | Other intangible assets <sup>(1)</sup> | (2888) | (3101) | (3860) |
| Tangible assets | (d) | $23345263 | $22826225 | $22855689 |
| Number of common shares outstanding | (e) | 69343395 | 70034708 | 72170433 |
| Total stockholders' equity to total assets ratio | (a)/(c) | 12.17% | 12.35% | 12.02% |
| Tangible equity to tangible assets ratio | (b)/(d) | 10.74% | 10.89% | 10.56% |
| Tangible book value per share | (b)/(e) | $36.16 | $35.50 | $33.44 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | Three Months Ended | Three Months Ended | Three Months Ended | Six months ended | Six months ended |
|  |  | June 30, 2025 | March 31, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 |
|  |  | (In thousands) (Unaudited) | (In thousands) (Unaudited) | (In thousands) (Unaudited) |  |  |
| Net Income | Net Income | $77450 | $69506 | $66829 | $146956 | $138264 |
| Add: Amortization of other intangibles <sup>(1)</sup> | Add: Amortization of other intangibles <sup>(1)</sup> | 285 | 283 | 270 | 567 | 600 |
| Tax effect of amortization adjustments <sup>(2)</sup> | Tax effect of amortization adjustments <sup>(2)</sup> | (85) | (84) | (80) | (168) | (178) |
| Tangible net income | (f) | $77650 | $69705 | $67019 | $147355 | $138686 |
| Return on tangible common equity <sup>(3)</sup> | (f)/(b) | 12.39% | 11.21% | 11.11% | 11.75% | 11.49% |

---

<sup>(1)</sup> Includes core deposit intangibles and mortgage servicing

<sup>(2)</sup> Applied the statutory rate of 29.65%.

<sup>(3)</sup> Annualized

## Exhibit 99.2

**Exhibit 99.2**

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