Cathay General Bancorp Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 25, 2022 at 04:30 pm EDT
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Cathay General Bancorp reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net interest income was USD 175.16 million compared to USD 148 million a year ago. Net income was USD 88.98 million compared to USD 77.2 million a year ago. Basic earnings per share from continuing operations was USD 1.19 compared to USD 0.98 a year ago. Diluted earnings per share from continuing operations was USD 1.18 compared to USD 0.97 a year ago.
For the six months, net interest income was USD 334.35 million compared to USD 289.82 million a year ago. Net income was USD 164.01 million compared to USD 150.58 million a year ago. Basic earnings per share from continuing operations was USD 2.18 compared to USD 1.9 a year ago. Diluted earnings per share from continuing operations was USD 2.17 compared to USD 1.89 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.