Cathay General Bancorp, the holding company for Cathay Bank (the "Bank"), announced that Pin Tai resign as a member of the Board of Directors of the company and Cathay Bank, effective September 30, 2020. Mr. Tai will remain with Cathay Bank as an executive advisor through September 30, 2021, supporting the transition, in accordance with his previously disclosed consulting agreement. In accordance with the Company's succession plan, the Boards of Directors of the Company and of Cathay Bank appointed Chang M. Liu as President of the Company, 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. Mr. Liu also will continue serving as President and a director of Cathay Bank, and will be appointed a member of the Board of Directors of the Company, effective October 1, 2020.