Group 1 - Cathay General (CATY) reported quarterly earnings of $1.12 per share, exceeding the Zacks Consensus Estimate of $1.11 per share, but down from $1.25 per share a year ago, representing an earnings surprise of 0.90% [1] - The company posted revenues of $186.49 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.80%, but down from $205.24 million year-over-year [2] - Over the last four quarters, Cathay has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Cathay shares have increased by approximately 2.4% since the beginning of the year, compared to a 2.9% gain in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.94 on $180 million in revenues, and for the current fiscal year, it is $4.16 on $731 million in revenues [7] Group 3 - The Zacks Industry Rank indicates that the Banks - West industry is currently in the top 37% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The current estimate revisions trend for Cathay is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]

Financial Performance - For the year ended December 31, 2024, net income was $286.0 million, or $3.95 per diluted share, compared to $354.1 million for 2023[2] - Net income for the year ended December 31, 2024, was $286.0 million, a decrease of $68.1 million, or 19.2%, compared to $354.1 million for the year ended December 31, 2023[24] - Diluted earnings per share for the year ended December 31, 2024, was $3.95, down from $4.86 per share for the year ended December 31, 2023[24] - Net income for the fourth quarter of 2024 was $80.2 million, an increase of $12.7 million, or 18.8%, from $67.5 million in the third quarter of 2024[5] - Net income for the three months ended December 31, 2024, was $80,201 thousand, an increase from $67,514 thousand in the previous quarter[42] Income and Expenses - Non-interest income for the year ended December 31, 2024, was $55.7 million, down from $68.3 million for the year ended December 31, 2023[32] - Non-interest income for the fourth quarter of 2024 was $15.5 million, a decrease of $4.9 million, or 23.9%, compared to $20.4 million in the third quarter[14] - Non-interest income for the three months ended December 31, 2024, was $15,473 thousand, down from $20,365 thousand in the previous quarter, a decrease of 24.1%[36] - Non-interest expense decreased by $11.7 million, or 12.0%, to $85.2 million in the fourth quarter of 2024 compared to $96.9 million in the third quarter[15] Loans and Deposits - Total loans decreased to $19.38 billion, a decline of $172.2 million, or 0.9%, from $19.55 billion as of December 31, 2023[17] - Total deposits increased by $360.8 million, or 1.9%, to $19.69 billion as of December 31, 2024, compared to $19.33 billion in 2023[17] - Total deposits decreased to $19,686,199 thousand as of December 31, 2024, from $19,943,941 thousand at September 30, 2024, a decrease of 1.29%[34] - Time deposits decreased to $9,570,601 thousand as of December 31, 2024, from $10,245,823 thousand at September 30, 2024, a decline of 6.6%[34] Asset Quality - The allowance for loan losses was $161.8 million, representing 0.83% of period-end gross loans as of December 31, 2024[21] - Total non-accrual loans increased to $169.2 million, an increase of $102.5 million, or 153.7%, from $66.7 million as of December 31, 2023[20] - As of December 31, 2024, total non-performing assets increased by $103.0 million, or 110.4%, to $196.3 million compared to $93.3 million as of December 31, 2023[22] - The allowance for loan losses to non-performing loans ratio was 93.39% as of December 31, 2024, compared to 209.33% as of December 31, 2023[22] Capital and Ratios - The Tier 1 risk-based capital ratio was 13.55% as of December 31, 2024, up from 12.84% as of December 31, 2023, indicating a strong capital position[23] - The total stockholders' equity to total assets ratio was 12.34% as of December 31, 2024, compared to 11.86% a year earlier[42] - The tangible equity to tangible assets ratio increased to 10.88% as of December 31, 2024, from 10.38% a year prior[42] - Return on average stockholders' equity decreased to 10.18% for the year ended December 31, 2024, from 13.56% for the year ended December 31, 2023[25] Interest Margin and Yield - The net interest margin increased to 3.07% in the fourth quarter of 2024 from 3.04% in the third quarter[9] - The net interest margin for the year ended December 31, 2024, was 3.04%, compared to 3.45% for the year ended December 31, 2023[24] - Average loans for the three months ended December 31, 2024, were $19,345,616 thousand with a yield of 6.19%[38] - Total interest-earning assets for the same period were $22,170,939 thousand, yielding 5.92%[38] Other Metrics - The efficiency ratio for the year ended December 31, 2024, was 51.35%, compared to 46.97% for the year ended December 31, 2023[25] - Book value per common share increased to $40.16 as of December 31, 2024, compared to $39.66 at September 30, 2024, an increase of 1.26%[34] - Cash dividends paid per common share remained stable at $0.34 for both the current and previous quarters[37] - Total average assets as of December 31, 2024, were $23,332,869 thousand, compared to $23,304,836 thousand a year earlier[38]

Core Viewpoint - Analysts expect Cathay General (CATY) to report quarterly earnings of $1.11 per share, reflecting an 11.2% year-over-year decline, with revenues projected at $185 million, down 9.9% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised downward by 3.1% in the past 30 days, indicating a reassessment by covering analysts [1][2] Key Metrics - Analysts project the 'Efficiency Ratio' to reach 44.7%, a decrease from 53.8% reported in the same quarter last year [4] - The 'Net Interest Margin' is expected to be 3.0%, down from 3.3% in the previous year [4] - The 'Average balance - Total interest-earning assets' is estimated at $22.18 billion, slightly up from $22.07 billion reported last year [5] - 'Net interest income before provision for loan losses' is projected at $169.32 million, compared to $182.14 million a year ago [5] - 'Total Non-Interest Income' is estimated at $14.50 million, down from $23.10 million in the previous year [6] Stock Performance - Over the past month, shares of Cathay have returned +2%, while the Zacks S&P 500 composite has declined by -2.1% [6] - Currently, CATY holds a Zacks Rank 3 (Hold), suggesting performance may align with the overall market in the near future [6]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings and revenues for Cathay General (CATY) in the upcoming earnings report, with a focus on how actual results compare to estimates [1][3]. Earnings Expectations - The expected quarterly earnings per share (EPS) for Cathay is $1.11, reflecting an 11.2% decrease year-over-year [3]. - Revenues are projected to be $185 million, down 9.9% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 3.11% over the last 30 days, indicating a bearish sentiment among analysts [4]. - The Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -4.79%, complicating predictions for an earnings beat [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from consensus estimates, with positive readings being more predictive of earnings beats [7][8]. - Cathay's current Zacks Rank is 3, which does not strongly support the likelihood of an earnings beat [11]. Historical Performance - In the last reported quarter, Cathay's actual earnings of $0.97 per share fell short of the expected $0.98, resulting in a surprise of -1.02% [12]. - Over the past four quarters, Cathay has beaten consensus EPS estimates three times [13]. Market Reaction Factors - An earnings beat or miss may not solely dictate stock price movement, as other factors can influence investor sentiment [14]. - Despite not appearing as a compelling earnings-beat candidate, other market conditions should be considered when evaluating Cathay's stock ahead of the earnings release [16].

Financial Performance - Total assets increased to $23,274,443 thousand as of September 30, 2024, compared to $23,081,534 thousand at December 31, 2023, reflecting a growth of approximately 0.83%[8] - Total deposits rose to $19,943,941 thousand, up from $19,325,447 thousand, representing an increase of approximately 3.20%[8] - Retained earnings increased to $2,632,315 thousand, up from $2,500,341 thousand, reflecting a growth of approximately 5.28%[8] - The company reported a total stockholders' equity of $2,830,313 thousand, up from $2,736,575 thousand, reflecting an increase of about 3.43%[8] - Net income for Q3 2024 was $67,514,000, down from $82,371,000 in Q3 2023, reflecting a decrease of 18.0%[9] - Basic earnings per share for Q3 2024 was $0.94, compared to $1.14 in Q3 2023, a decline of 17.5%[9] - Total comprehensive income for Q3 2024 was $94,121,000, compared to $57,887,000 in Q3 2023, an increase of 62.4%[9] - Net income for the nine months ended September 30, 2024, was $205,778,000, a decrease from $271,598,000 for the same period in 2023, representing a decline of approximately 24.2%[14] Loan and Credit Quality - Loans held for investment decreased to $19,199,355 thousand from $19,382,858 thousand, a decline of about 0.94%[8] - The allowance for loan losses increased to $163,733 thousand from $154,562 thousand, indicating a rise of about 5.50%[8] - Total non-accrual loans amounted to $162,834 thousand as of September 30, 2024, compared to $66,681 thousand as of December 31, 2023, showing a significant increase[54] - The provision for credit losses was $14,500,000 in Q3 2024, up from $7,000,000 in Q3 2023, indicating a rise of 107.1%[9] - The provision for credit losses for the nine months ended September 30, 2024, was $23,000,000, slightly lower than $24,255,000 for the same period in 2023[14] - The allowance for loan losses as of September 30, 2024, is $163,733,000, an increase from $155,109,000 as of September 30, 2023[93] Deposits and Funding - Non-interest-bearing deposits decreased to $3,253,823 thousand from $3,529,018 thousand, a decline of about 7.80%[8] - Total liabilities increased to $20,444,130 thousand from $20,344,959 thousand, a growth of approximately 0.49%[8] - The company had $60.0 million in advances from the Federal Home Loan Bank (FHLB) at a weighted average rate of 5.08% as of September 30, 2024, compared to $540.0 million at a rate of 5.64% as of December 31, 2023[110] Non-Interest Income - Total non-interest income totaled $20,365,000 in Q3 2024, compared to $7,837,000 in Q3 2023, showing a significant increase of 160.5%[9] - Wealth management fees increased to $6,545 thousand in September 2024 from $5,150 thousand in September 2023, reflecting a growth of 27.0%[156] - Other service fees increased to $5,039 thousand in September 2024 from $4,424 thousand in September 2023, marking a growth of 13.9%[156] Stockholder Actions - The company repurchased 832,460 shares at an average cost of $42.00 per share during the third quarter, totaling $35.0 million[168] - The company announced a new stock repurchase program on May 28, 2024, to buy back up to $125.0 million of its common stock[168] Risk Management and Outlook - The company continues to face various risks including credit risks, regulatory changes, and market conditions that could impact future performance[5] - The company has no intention to update any forward-looking statements unless required by law, indicating a stable outlook[7] - The company expects the most significant estimate subject to change to be the allowance for loan losses, which could affect reported amounts of assets and liabilities[18] Regulatory and Accounting Changes - The company has determined that the adoption of ASU 2023-07 will not have a significant impact on its Consolidated Financial Statements[22] - The company is currently evaluating the impact of the SEC's climate-related disclosure rules, which will apply to its fiscal year beginning January 1, 2025[23]

Financial Earnings Results Third Quarter 2024 October 21, 2024 Forward Looking Statements This presentation contains forward-looking statements about Cathay General Bancorp and its subsidiaries (collectively referred to herein as the "Company," "we," "us," or "our") within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provision for forward-looking statements in these provisions. Sta ...

Financial Data and Key Metrics Changes - The company reported net income of $67.5 million for Q3 2024, a 1% increase from $66.8 million in Q2 2024 [5][13] - Diluted earnings per share increased by 2.2% to $0.94 per share in Q3 2024 compared to $0.92 per share in Q2 2024 [5] - Net interest margin for Q3 2024 was 3.04%, up from 3.01% in Q2 2024, indicating a potential bottoming out and beginning of an increase in net interest margin [13][14] Business Line Data and Key Metrics Changes - Total gross loans increased by $16 million or 0.3% annualized, driven by a $89 million increase in commercial real estate (CRE) loans and a $16 million increase in commercial and industrial (C&I) loans [6] - Residential mortgages and home equity lines of credit (HELOC) decreased by $40 million, and construction loans decreased by $50 million or 47% annualized [6] - Non-interest income for Q3 2024 increased by $7.2 million to $20.4 million compared to $13.2 million in Q2 2024, primarily due to a $5.7 million increase in mark-to-market gains on equity securities [14] Market Data and Key Metrics Changes - Total deposits increased by $171 million or 3.5% annualized during Q3 2024, with core deposits increasing by $195 million or 7.8% annualized [10] - Total uninsured deposits were $8.4 billion, representing 42.1% of total deposits as of September 30, 2024 [11] Company Strategy and Development Direction - The company anticipates continuing to repurchase around $35 million in stock per quarter in Q4 2024 and Q1 2025, depending on market conditions [6] - The company expects loan growth for 2024 to be between -1% and 0% based on current loan trends [6] Management's Comments on Operating Environment and Future Outlook - Management noted an increase in the provision for credit loss to $14.5 million in Q3 2024, up from $6.6 million in Q2, indicating a cautious approach to potential credit risks [10] - The effective tax rate for Q3 2024 was 13.6%, with expectations for a full-year effective tax rate between 10.5% and 11.5% [14][15] Other Important Information - The company recorded net charge-offs of $4.2 million in Q3 2024, down from $8 million in Q2 2024 [8] - Classified loans increased to $382 million from $324 million in Q2 2024, primarily due to the placement of a $38 million loan relationship to non-accrual [9][12] Q&A Session Summary Question: About the increase in the loan loss reserve - Management indicated that the $10 million increase in loan loss reserves was a general reserve addition and not specifically related to the $38 million loan relationship that went on non-accrual [17] Question: Inquiry on the maturity schedule of fixed loans - Management did not have the specific maturity schedule available but noted that most hybrid loans are residential mortgages [18] Question: On CD repricing and maturing CDs - Management stated that approximately $3.49 billion in CDs would mature in Q4 2024, with an average yield of about 4.82% [19][20] Question: Guidance on core expenses for Q4 - Management suggested that core expenses would be close to Q3 levels, with some savings expected from a project aimed at improving the deposit opening process [21] Question: Amortization for low-income housing - Management confirmed that $10 million is still a good run rate for the fourth quarter [22] Question: Buyback authorization for 2025 - Management indicated that the Board would consider increasing the buyback authorization from $125 million to potentially $150 million, depending on future conditions [23] Question: Spot rates on loans and deposits - Management provided spot rates for various loan categories, with residential mortgages at about 7% and commercial real estate around the mid-6% range [24][25] Question: Migration of non-performers during the quarter - Management noted that the increase in non-performers was primarily due to the $38.1 million relationship and a $12.7 million real estate loan in Hong Kong [26]

Cathay General (CATY) reported $189.52 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 2.1%. EPS of $0.97 for the same period compares to $1.13 a year ago.The reported revenue represents a surprise of +3.73% over the Zacks Consensus Estimate of $182.7 million. With the consensus EPS estimate being $0.98, the EPS surprise was -1.02%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Cathay General (CATY) came out with quarterly earnings of $0.97 per share, missing the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.02%. A quarter ago, it was expected that this holding company for Cathay Bank would post earnings of $0.96 per share when it actually produced earnings of $0.97, delivering a surprise of 1.04%. Over the last fou ...

Exhibit 99.1 FOR IMMEDIATE RELEASE For: Cathay General Bancorp Contact: Heng W. Chen 777 N. Broadway (626) 279-3652 Los Angeles, CA 90012 Cathay General Bancorp Announces Third Quarter 2024 Results Los Angeles, Calif., October 21, 2024: 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 September 30, 2024. The Company reported net income of $67.5 million, or $0.94 per diluted ...