Cathay General Bancorp (NASDAQ:CATY) Q4 2023 Earnings Conference Call January 25, 2024 6:00 PM ET Company Participants Chang Liu - President and Chief Executive Officer Heng Chen - Executive Vice President, Chief Financial Officer and Treasurer Georgia Lo - Investor Relations Conference Call Participants Gary Tenner - D.A. Davidson Brandon King - Truist Securities Andrew Terrell - Stephens Inc. Matthew Clark - Piper Sandler Operator Good afternoon, ladies and gentlemen, and welcome to the Fourth Quarter an ...

• $19.3 billion Total Loan Portfolio • $19.5 billion as of 12.31.23 Commercial Real Estate Portfolio Multi-Family Residential Office CRE Portfolio % based on $1.54 billion loans outstanding $ in millions Office CRE Loan Portfolio -5 5 15 25 35 45 55 65 75 85 0% 20% 40% 60% 80% 100% 533 649 440 530 830 581 778 458 560 921 593 790 477 575 946 613 840 496 595 935 621 847 514 598 964 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 850 900 950 1000 Total Loans C & I Residential Mortgage CRE Cons ...

For the quarter ended December 2023, Cathay General (CATY) reported revenue of $205.24 million, down 4.1% over the same period last year. EPS came in at $1.25, compared to $1.33 in the year-ago quarter.The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $197.95 million. With the consensus EPS estimate being $1.10, the EPS surprise was +13.64%.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 $1.25 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this holding company for Cathay Bank would post earnings of $1.12 per share when it actually produced earnings of $1.13, delivering a surprise of 0.89%.Over the last four ...

Wall Street analysts forecast that Cathay General (CATY) will report quarterly earnings of $1.10 per share in its upcoming release, pointing to a year-over-year decline of 17.3%. It is anticipated that revenues will amount to $197.95 million, exhibiting a decline of 7.5% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reasses ...

FORM 10-Q Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, ...

Cathay General Bancorp (NASDAQ:CATY) Q3 2023 Earnings Conference Call October 23, 2023 6:00 PM ET Company Participants Georgia Lo - Investor Relations Chang Liu - President and Chief Executive Officer Heng Chen - Executive Vice President and Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Gary Tenner - D.A. Davidson Brandon King - Truist Securities Andrew Terrell - Stephens Inc. Nicholas Moutafakis - KBW Operator Good afternoon, ladies and gentlemen, and welcome to Cathay ...

For the transition period fromto Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Table of Contents These and other factors are further described in Bancorp's Annual Report on Form 10-K for the year ended December 31, 2022 (Item 1A in particular), other reports and registration statements filed with the Securities and Exchange Commission ("SEC"), and other filings Bancorp makes with the SEC from time to time. Actual results in any ...

5 C & I 17% Residential Mortgage* 31% Construction 3% Residential 16% Retail 11% Office 8% Warehouse 6% industrial 3% hotel /motel 2% special use 1% restaurant 1% land 0.6% theater 0.1% Total CRE 49% Total Loans $19.0 Billion CA 48% NY 34% TX 4% WA 3% IL 3% Other 8% Total CRE $9.3 Billion Commercial Real Estate Portfolio • $1.74 mil avg. outstanding size • weighted avg. LTV 50% LTV & Size by Property Type 7 0% Industrial & MultiUse Single Family Residence Retail CRE Portfolio 30% 24% 21% 13% 11% <1% 0% 5% 1 ...

Financial Data and Key Metrics Changes - The company reported net income of $93.2 million for Q2 2023, a decrease of 2.9% compared to $96 million in Q1 2023 [4] - Diluted earnings per share decreased by 2.3% to $1.28 for Q2 2023 from $1.32 in Q1 2023 [4] - Net interest margin was 3.44% in Q2 2023, down from 3.74% in Q1 2023 [10] - Non-interest expense increased by $9.6 million or 11.6% to $92.8 million in Q2 2023 compared to $83.2 million in Q1 2023 [11] Business Line Data and Key Metrics Changes - Gross loans increased by $635.5 million or 13.9% annualized in Q2 2023, driven by a $377 million increase in commercial real estate loans [17] - Residential mortgage loans increased by $158 million or 12.1% annualized, while commercial loans rose by $165 million or 19.9% annualized [17] - Total deposits increased by $448.1 million or 9.7% annualized during Q2 2023 [20] - Total time deposits increased by $325 million or 18.6% annualized, and total saving deposits increased by $241 million or 196.2% annualized [21] Market Data and Key Metrics Changes - As of June 30, 2023, classified loans decreased to $193 million from $240 million as of March 31, 2023 [7] - Non-accrual loans were 0.36% of total loans as of June 30, 2023, down from the previous quarter [19] Company Strategy and Development Direction - The company revised its overall loan growth guidance for 2023 to between 5% to 7%, up from the previous guidance of 1% to 3% [5] - The company is focusing on improving returns by increasing loan spreads for fixed-rate commercial real estate loans [5] Management's Comments on Operating Environment and Future Outlook - Management noted that the decrease in net income was primarily due to net interest margin compression from increased deposit costs [22] - The company expects loan growth in Q3 and Q4 to be lower than in Q2, indicating a more muted demand for loans in the second half of the year [36] Other Important Information - The company recorded a provision for credit loss of $9.2 million in Q2 2023, compared to $8.1 million in Q1 2023 [7] - The effective tax rate for Q2 2023 was 9.2%, down from 21.4% in Q1 2023 [41] Q&A Session Summary Question: What are the expectations for the net interest margin? - Management expects the net interest margin to improve slightly due to anticipated Fed rate hikes and lower loan growth in the second half of the year [27] Question: What is the outlook for core expenses? - The company anticipates core expenses to remain close to $67 million per quarter in the second half of the year [34] Question: How is the loan growth outlook given the economic uncertainty? - Management indicated that loan growth was driven by a few large clients and does not expect to maintain the same pace in the second half of the year [36] Question: What is the plan regarding Federal Home Loan Bank borrowings? - The company plans to pay down a portion of the Federal Home Loan Bank borrowings in Q3 or Q4 [37] Question: Are there any signs of credit migration within the office portfolio? - Management confirmed that there have been no special reserves on the office portfolio, and general reserves were built up this quarter [62] Question: Is there any consideration for resuming buybacks? - Management stated that there are no plans for buybacks at this time, preferring to assess the economic situation first [66]