Cathay General Bancorp(US:CATY)2023-01-26 02:35Financial Performance Highlights - Net income for the fourth quarter of 2022 was $976 million, a decrease of 1% compared to the previous quarter but an increase of 30% compared to the fourth quarter of 2021[18] - Diluted earnings per share (EPS) for 4Q22 was $133, remaining consistent with the previous quarter and showing a 36% increase year-over-year[18] - Total revenue for 4Q22 reached $2139 million, reflecting a 3% increase from the previous quarter and a 22% increase compared to 4Q21[18] - Net interest income (NII) for 4Q22 was $2018 million, up 2% from the previous quarter and 30% from 4Q21[18] - The efficiency ratio for 4Q22 was 3797%, a 4% increase from the previous quarter but a 9% decrease compared to 4Q21[18] Balance Sheet and Capital Strength - Total assets as of December 31, 2022, were $21986 billion, a slight increase of $96 million from the previous quarter[19] - Total loans reached $18254 billion as of December 31, 2022, representing a 1% increase from the previous quarter and a 17% increase year-over-year[18] - Total deposits amounted to $18505 billion as of December 31, 2022, remaining relatively stable compared to the previous quarter but showing a 15% increase year-over-year[18] - The company maintains strong capital ratios, exceeding regulatory standards under Basel III[10, 64, 85] - Tangible book value per share was $2877 as of December 31, 2022, a 368% increase compared to September 30, 2022, and a 531% increase year-over-year[2, 64] Loan Portfolio Composition - The total loan portfolio was $183 billion as of December 31, 2022, with the following composition: Commercial Real Estate (CRE) at 48%, Residential Mortgage at 31%, Commercial & Industrial (C&I) at 18%, and Construction at less than 1%[38, 39]