Financial Earnings Results

Fourth Quarter and Full Year 2024

January 22, 2025

Financial Highlights 4Q 2024

Profitability: Return on Assets & Equity

ROAA ROAE

12.21%

11.18%

10.40%

9.63%

9.50%

1.40%

1.23%

1.15%

1.15%

1.37%

4Q23

1Q24

2Q24

3Q24

4Q24

Return on Tangible Equity *

14.04%

13.03%

11.95%

11.11% 11.05%

4Q23 1Q24 2Q24 3Q24 4Q24

* Refer to GAAP to non-GAAP reconciliation in Appendix.

Quarterly Results Ending December 31, 2024

$80.2mn

Net Income

$1.12

Diluted EPS

$186.5mn

Total Revenue

Pre-Tax Pre-Provision Income Ratio ($m)

$121

PTPP Income

PTPP Ratio

$117

$112

$96

$103

2.07%

1.64%

1.76%

2.00%

1.92%

4Q23

1Q24

2Q24

3Q24

4Q24

Pre-Tax Pre-Provision, Pre-Tax Credit Amortization, and Pre-Acquisition Expense ("PTPP") Income Ratio calculation based on

annualized PTPP Income divided by total average assets.

$19.4bn

Total Loans

$19.7bn

Total Deposits

45.70%

Efficiency Ratio

3

Summary Highlights: 4Q and Full Year 2024 Results

$ in millions,

4Q24

Change

Change

Full Year

Change

except per share data

4Q24 v. 3Q24

4Q24 v. 4Q23

2024

YoY

Earnings

Net Income

$

80.2

19%

(3)%

$

286.0

(19)%

Basic EPS

$

1.13

20%

(1)%

$

3.97

(19)%

Diluted EPS

$

1.12

19%

(1)%

$

3.95

(19)%

Total Revenue

$

186.5

(2)%

(9)%

$

729.7

(10)%

NII

$

171.0

1%

(6)%

$

674.1

(9)%

NIM

3.07%

3 bps

-20 bps

3.04%

-41 bps

ROAA

1.37%

22 bps

-3 bps

1.22%

-34 bps

ROAE

11.18%

168 bps

-103 bps

10.18%

-338 bps

Efficiency Ratio

45.70%

-541 bps

-814 bps

51.35%

438 bps

Balance Sheets

Total Loans*

$

19,365

(0)%

(1)%

$

19,365

(1)%

Total Deposits

$

19,686

(1)%

2%

$

19,686

2%

Note: Information as of 12.31.24 and 9.30.24 are unaudited. Totals may not foot due to rounding. * Gross Loans, net of fees

4

Summary Balance Sheets

$mn, except per share data

12.31.24

9.30.24

QoQ Change

Cash equivalents & ST investments

$

1,040

$

1,339

$

(299)

AFS debt securities

1,547

1,508

39

Gross loans, net of fees

$

19,365

$

19,363

$

2

Allowance for credit losses

(162)

(164)

2

Net Loans

$

19,204

$

19,199

$

4

Other assets

1,264

1,228

36

Total Assets

$

23,055

$

23,274

$

(220)

Customer deposits

$

19,686

$

19,944

(258)

FHLB borrowings

60

60

-

Debt

137

137

(0)

Other Liabilities

326

303

23

Total Liabilities

$

20,209

$

20,444

$

(235)

Total Stockholders' Equity

$

2,846

$

2,830

$

16

Note: Information as of 12.31.24 and 9.30.24 are unaudited. Totals may not foot due to rounding.

Net Loans-to-Deposit Ratio (end of period (EOP))

100%

97%

97%

96%

98%

12.31.23

3.31.24

6.30.24

9.30.24

12.31.24

5

Loan Composition

Total Loan Portfolio ($bn)

Average Loan Growth - QoQ Annualized ($bn)

Construction

2%

Residential

Mortgage*

$19.3

$0.5 $3.2

+3.5%

$19.5

$0.4 $3.2

-1.2%

$19.4

$0.4 $3.2

-0.6%

$19.4

$0.4 $3.2

-1.4%

$19.3

$0.3 $3.0

30% $19.4bn Total CRE

$6.0

$6.1

$6.0

$6.0

$6.0

Total Loans

C & I 16%

52%

$9.6

$9.8

$9.8

$9.8

$10.0

  • Total CRE $10.0bn
  • Residential Mortgage* $6.0bn
  • C & I Loans $3.1bn
  • Construction Loans $0.3bn

4Q23

1Q24

2Q24

3Q24

4Q24

Total CRE

Residential Mortgage*

C & I

Construction

* Residential Mortgage includes equity lines, installment and other loans.

6

Loan Yields

Average Loan Yield by Type (in bps)

621 624 628 635 619

8% fixed rate

4Q23

1Q24

2Q24

3Q24

4Q24

91% float rate

40% fixed rate

847 849 868 846

30% fixed rate

772

29% float rate

21% float rate

598

594

593

588

592

514

531

547

564

572

Total Loans

C & I

Residential Mortgage

CRE

Fix Rate & Hybrid in Fixed Rate Period (% of total loans)

64% 64%

63%

63%

63%*

4Q23

1Q24

2Q24

3Q24

4Q24

* Excludes fixed to float interest rate swaps of 4.1%.

Loan Portfolio By Index Rate

as of 12.31.24

Other

8%

Prime

13%Fixed Rate

31%

Total Fixed Rate and

SOFR

Hybrid in Fixed Period:

16%

63%

Hybrid in Fixed

Rate Period

32%

7

Commercial Real Estate Portfolio

CRE Portfolio Breakdown

CRE Geographic Distribution

Total CRE

NY

Residential 18%

34%

Construction

$10.0bn

52% of total loans

$10.0bn

2%

Total CRE

Residential

Retail 13%

CA

TX 5%

IL 3%

Mortgage*

$19.4bn

Total CRE

47%

Other

30%

52%

9%

WA 2%

Total Loans

Office 7%

C & I

Total CRE Concentration

16%

Warehouse 6%

industrial 3%

special use 1%

hotel /motel 2%

restaurant 0.8%

land 0.4%

292%

287%

288%

288%

288%

theater 0.1%

Of $10.0bn in total CRE loans, it included a notional amount of

$794mn of interest rate swaps or 4.1% of total loans.

4Q2023

1Q2024

2Q2024

3Q2024

4Q2024

* Residential Mortgage includes equity lines, installment and other loans.

400% internal threshold

300% regulatory threshold

CRE/Total Capital

8

Commercial Real Estate Portfolio (cont'd)

Total CRE LTV Distribution

40% to 50%

23%

14%

$10.0bn

50% to 60%

32%

30% to 40%

Total CRE

under 30%

60% to 70%

10%

Over 70%

20%

1%

Total CRE LTV and Size by Property Type

Total CRE Loan

Avg.

Total CRE

Portfolio

Loan Size

Weighted

($mn)

($mn)

Avg. LTV

Residental

$3,471

$1.3

53%

Retail

$2,432

$2.1

48%

Office

$1,449

$2.2

47%

Warehouse

$1,248

$2.7

46%

Industrial

$636

$3.0

49%

Hotel / Motel

$293

$5.6

46%

Special Use

$238

$2.5

44%

Restaurant

$164

$0.9

44%

Land

$83

$3.6

47%

Theater

$20

$6.6

54%

Total CRE

$10,034

$1.8

49%

9

Selected CRE and Construction Loan Portfolios

Residential CRE Portfolio

% based on $3.5bn loans outstanding

Retail CRE Portfolio

% based on $2.4bn loans outstanding

Construction Portfolio

% based on $0.3bn loans outstanding

Commercial Units

5+ Multi-Family

2-4 Unit Residence

Single Family

Residence

40%

39%

16%

5%

Retail Store/Building

Retail/Mix Use

Neighborhood

Center

Strip Mall

Shopping Center

Other

1%

31%

27%

22%

10%

9%

Multiple Family

Residential

Office & Commercial

Condominium

Single Family

Residential

Warehouse

Retail

84%

8%

6%

1%

1%

CA 36%

53%

LTV Weighted

TX 5%

NY Average

49%

WA 4%

IL 2%

Other 4%

NY 27%

48%

CA LTV Weighted Average

49%

TX 8% NV 4%

IL 4%

MA 1%

Other 7%

NY CA 56% 20%

73% LTV Weighted Average

Other 7%

10

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Cathay General Bancorp published this content on January 22, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 22, 2025 at 21:45:33.185.