Cathay General Bancorp (the "Company"), the holding company for Cathay Bank (the "Bank"), announced that Pin Tai, in accordance with his previously disclosed employment agreement, will retire from his position as Chief Executive Officer ("CEO") of the Company and Cathay Bank. In accordance with the Company's succession plan, the Boards of Directors of the company and of Cathay Bank appointed Chang M. Liu as CEO of the company and Cathay Bank, effective October 1, 2020. Mr. Liu is currently the President and Chief Operating Officer of Cathay Bank and is a member of the Board of Directors of Cathay Bank.