Cathay General Bancorp Announces Third Quarter 2026 Results
LOS ANGELES--( BUSINESS WIRE)--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, 2026. The Company reported net income of $95.2 million, or $1.43 per diluted share, for the third quarter of 2026 compared to $92.2 million, or $1.37 per diluted share for the second quarter of 2026.
“Our third quarter results reflected strong performance across the franchise. Net interest income grew, loans and deposits increased meaningfully, and net interest margin continued to expand,” said Chang M. Liu, President and Chief Executive Officer of the Company. “We remain focused on disciplined execution and prudent balance sheet management to build on this progress and continue delivering long-term value for our shareholders.”
THIRD QUARTER HIGHLIGHTS
Three months ended
September 30, 2026
June 30, 2026
September 30, 2025
$1.43
$1.38
$1.13
$1.43
$1.37
$1.13
1.51
%
1.52
%
1.29
%
12.28
%
12.21
%
10.60
%
40.60
%
41.53
%
41.84
%
INCOME STATEMENT REVIEW
THIRD QUARTER 2026 COMPARED TO THE SECOND QUARTER 2026
Net income for the quarter ended September 30, 2026, was $95.2 million, an increase of $3.0 million, or 3.3%, compared to net income of $92.2 million for the second quarter of 2026. Diluted earnings per share for the third quarter of 2026 was $1.43 per share compared to $1.37 per share for the second quarter of 2026.
Return on average stockholders’ equity was 12.28% and return on average assets was 1.51% for the quarter ended September 30, 2026, compared to a return on average stockholders’ equity of 12.21% and a return on average assets of 1.52% in the second quarter of 2026.
Net interest income before provision for credit losses
Net interest income before provision for credit losses increased $11.0 million, or 5.5%, to $211.9 million during the third quarter of 2026, compared to $200.9 million in the second quarter of 2026. The increase was due primarily to an increase in interest income from loans and deposits with banks and partially offset by an increase in deposit interest expense.
The net interest margin was 3.52% for the third quarter of 2026 compared to 3.48% for the second quarter of 2026.
For the third quarter of 2026, the yield on average interest-earning assets was 5.74%, the cost of funds on average interest-bearing liabilities was 2.93%, and the cost of average interest-bearing deposits was 2.91%. In comparison, for the second quarter of 2026, the yield on average interest-earning assets was 5.66%, the cost of funds on average interest-bearing liabilities was 2.89%, and the cost of average interest-bearing deposits was 2.86%. The increase in the cost of funds on average interest-bearing liabilities resulted mainly from higher interest rates on deposits, driven by the higher repricing of maturing time deposits in the third quarter. The increase in the yield on average interest-earning assets resulted mainly from higher interest rates on loans. The net interest spread, defined as the difference between the yield on average interest-earning assets and the cost of funds on average interest-bearing liabilities, was 2.81% for the third quarter of 2026, compared to 2.77% for the second quarter of 2026.
Provision for credit losses
The Company recorded a provision for credit losses of $28.6 million in the third quarter of 2026 compared to $11.2 million in the second quarter of 2026. The higher provision primarily reflected strong loan growth and updated loss assumptions incorporating recent charge-off experience. Nonperforming assets declined $26.2 million, or 18.0%, during the quarter, and the ratio of nonperforming assets to total assets improved to 0.47% from 0.59%. As of September 30, 2026, the allowance for loan losses increased by $5.3 million to $224.2 million, or 1.06% of gross loans, compared to $218.9 million, or 1.06% of gross loans as of June 30, 2026.
Net charge-offs of $25.3 million, or 0.48% of average loans on an annualized basis, were concentrated in three borrower-specific credits, including one construction loan and two movie theater CRE loans acquired from Far East National Bank.
The following table sets forth the charge-offs and recoveries for the periods indicated:
Three months ended
Nine months ended
September 30,
September 30, 2026
June 30, 2026
September 30, 2025
2026
2025
(In thousands) (Unaudited)
$
261
$
2,743
$
16,173
$
10,975
$
27,634
8,810
—
—
8,810
—
17,876
—
314
19,261
4,227
26,947
2,743
16,487
39,046
31,861
1,660
853
547
7,444
1,012
—
—
5
—
6
—
42
289
2,344
479
1,660
895
841
9,788
1,497
$
25,287
$
1,848
$
15,646
$
29,258
$
30,364
(1)
Real estate loans include commercial real estate loans, residential mortgage loans and equity lines.
Non-interest income
Non-interest income, which includes revenues from depository service fees, letters of credit commissions, securities gains (losses), wealth management fees, and other sources of fee income, was $42.8 million for the third quarter of 2026, an increase of $21.4 million, or 99.8%, compared to $21.4 million for the second quarter of 2026. The increase was primarily driven by a $24.4 million increase in net gains from equity securities and a $3.1 million benefit from the redemption of TruPS, partially offset by a $4.5 million increase in losses related to investment securities repositioning activities and a $1.3 million decrease in wealth management fees.
Non-interest expense
Non-interest expense increased $11.1 million, or 12.0%, to $103.4 million in the third quarter of 2026 compared to $92.3 million in the second quarter of 2026. The increase was primarily attributable to an $8.0 million charitable contribution to the Cathay Bank Foundation, a $5.4 million contract termination fee, and a $1.5 million increase in salaries and employee benefits, partially offset by a $3.4 million decrease in the amortization of investments in low-income housing and alternative energy partnerships. The efficiency ratio, defined as non-interest expense divided by the sum of net interest income before provision for credit losses plus non-interest income, was 40.60% in the third quarter of 2026 compared to 41.53% for the second quarter of 2026.
Income taxes
The effective tax rate for the third quarter of 2026 was 22.42% compared to 22.35% for the second quarter of 2026, primarily due to the higher pre-tax income in the third quarter of 2026. The effective tax rate for the third quarter of 2026 and second quarter of 2026 includes the impact of low-income housing tax credits.
BALANCE SHEET REVIEW
Gross loans, excluding loans held for sale, increased $574.5 million, or 2.79%, to $21.20 billion as of September 30, 2026, from $20.62 billion as of June 30, 2026. The increase was primarily due to increases of $420.4 million, or 11.9%, in commercial loans; $73.3 million, or 1.3%, in residential real estate loans; $65.5 million, or 0.6%, in commercial real estate loans; and $17.5 million, or 7.0%, in construction loans, partially offset by a decrease of $6.4 million, or 2.7%, in equity lines.
The loan balances and composition as of September 30, 2026, compared to June 30, 2026, and September 30, 2025, are presented below:
$
3,945,390
$
3,524,945
$
3,212,907
265,880
248,375
356,215
10,844,794
10,779,326
10,484,939
5,905,416
5,832,159
5,815,140
227,831
234,265
232,254
6,550
2,262
3,261
$
21,195,861
$
20,621,332
$
20,104,716
(224,190
)
(218,896
)
(186,647
)
(15,523
)
(14,606
)
(14,987
)
$
20,956,148
$
20,387,830
$
19,903,082
$
13,597
$
—
$
—
Total deposits were $21.83 billion as of September 30, 2026, an increase of $773.3 million, or 3.67%, from $21.06 billion as of June 30, 2026.
The deposit balances and composition as of September 30, 2026, compared to June 30, 2026, and September 30, 2025, are presented below:
$
3,950,436
$
3,567,527
$
3,574,567
2,634,247
2,612,011
2,226,182
4,284,484
3,894,594
3,586,301
1,517,383
1,421,969
1,424,243
9,448,438
9,565,547
9,709,856
$
21,834,988
$
21,061,648
$
20,521,149
ASSET QUALITY REVIEW
As of September 30, 2026, total non-accrual loans were $87.3 million, a decrease of $24.4 million, or 21.8%, from $111.7 million as of June 30, 2026.
The allowance for loan losses was $224.2 million and the allowance for off-balance sheet unfunded credit commitments was $12.9 million as of September 30, 2026. Together, these allowances represent the amount estimated by management to be appropriate to absorb expected credit losses inherent in the loan portfolio, including unfunded credit commitments. The allowance for loan losses represented 1.06% of period-end gross loans, and 242.97% of non-performing loans as of September 30, 2026. The comparable ratios were 1.06% of period-end gross loans, and 195.97% of non-performing loans as of June 30, 2026.
The changes in non-performing assets as of September 30, 2026, compared to June 30, 2026, and September 30, 2025, are presented below:
September 30, 2026
June 30, 2026
% Change
September 30, 2025
% Change
$
4,994
$
—
100
$
110
4,440
47,246
70,157
(33
)
103,158
(54
)
7,188
8,448
(15
)
33,690
(79
)
32,844
33,091
(1
)
28,784
14
$
87,278
$
111,696
(22
)
$
165,632
(47
)
92,272
111,696
(17
)
165,742
(44
)
26,910
33,659
(20
)
32,983
(18
)
$
119,182
$
145,355
(18
)
$
198,725
(40
)
$
224,190
$
218,896
2
$
186,647
20
$
12,938
$
14,918
(13
)
$
9,860
31
$
21,195,861
$
20,621,332
3
$
20,104,716
5
242.97
%
195.97
%
112.61
%
1.06
%
1.06
%
0.93
%
The ratio of non-performing assets to total assets decreased to 0.47% as of September 30, 2026, from 0.59% as of June 30, 2026. Total non-performing assets decreased $26.2 million, or 18.0%, to $119.2 million as of September 30, 2026, from $145.4 million as of June 30, 2026. The decrease was primarily due to decreases of $24.4 million, or 21.8%, in non-accrual loans and $6.7 million, or 20.1%, in other real estate owned, partially offset by an increase of $5.0 million, or 100.0%, in accruing loans past due 90 days or more.
CAPITAL ADEQUACY REVIEW
As of September 30, 2026, the Company’s Common Equity Tier 1 risk-based capital ratio of 13.51%, Tier 1 risk-based capital ratio of 13.51%, total risk-based capital ratio of 15.00%, and Tier 1 leverage capital ratio of 11.06%, calculated under the Basel III capital rules, exceeded applicable minimum regulatory capital requirements, including the fully phased-in 2.5% capital conservation buffer applicable to the risk-based capital ratios. As of June 30, 2026, the Company’s Common Equity Tier 1 risk-based capital ratio was 13.70%, Tier 1 risk-based capital ratio was 13.70%, total risk-based capital ratio was 15.47%, and Tier 1 leverage capital ratio was 11.28%.
YEAR-TO-DATE REVIEW
Net income for the nine months ending September 30, 2026, was $274.3 million, an increase of $49.7 million, or 22.1%, compared to net income of $224.6 million for the same period a year ago. Diluted earnings per share for the nine months ending September 30, 2026 was $4.09 per share compared to $3.21 per share for the same period a year ago. The net interest margin for the nine months ended September 30, 2026, was 3.48% compared to 3.28% for the same period a year ago.
Return on average stockholders’ equity was 12.13% and return on average assets was 1.50% for the nine months ended September 30, 2026, compared to a return on average stockholders’ equity of 10.39% and a return on average assets of 1.28% for the same period a year ago. The efficiency ratio for the nine months ended September 30, 2026, was 40.82% compared to 44.18% for the same period a year ago.
CONFERENCE CALL
Cathay General Bancorp will host a conference call to discuss its third quarter 2026 financial results this afternoon, Wednesday, October 21, 2026, at 3:00 p.m., Pacific Time. Analysts and investors may dial in and participate in the question-and-answer session. To access the call, please dial 1-833-816-1377 and enter Conference ID 10212696. The presentation accompanying this call and access to the live webcast is available on our site at www.cathaygeneralbancorp.com and a replay of the webcast will be archived for one year within 24 hours after the event.
ABOUT CATHAY GENERAL BANCORP
Cathay General Bancorp is a publicly traded company (Nasdaq: CATY) and is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services and currently operates over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. Overseas, it has a branch outlet in Hong Kong, and representative offices in Beijing, Shanghai, Taipei and Ho Chi Minh City. To learn more about Cathay Bank, please visit www.cathaybank.com. Cathay General Bancorp’s website is at www.cathaygeneralbancorp.com. Information set forth on such websites is not incorporated into this press release.
FORWARD-LOOKING STATEMENTS
Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management’s beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as “aims,” “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “predicts,” “potential,” “possible,” “optimistic,” “seeks,” “shall,” “should,” “will,” and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions of management and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising from local, regional, national and international business, market and economic conditions and events, the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors and the impact they may have on us, our customers and our operations, assets and liabilities; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to including potential future supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation; higher capital requirements from the implementation of the Basel III capital standards; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; our ability to generate anticipated returns on our investments and financings, including in tax-advantaged projects; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; natural disasters, public health crises and geopolitical events; including wars and armed conflicts, and their resulting economic impacts; general economic or business conditions in Asia, and other regions where Cathay Bank has operations; failures, interruptions, or security breaches of our information systems; our ability to adapt our systems to technological changes; risk management processes and strategies; adverse results in legal proceedings; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in accounting standards or tax laws and regulations; market disruption and volatility; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuance of preferred stock; successfully raising additional capital, if needed, and the resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; and general competitive, economic, political, and market conditions and fluctuations.
These and other factors are further described in Cathay General Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025 (Item 1A in particular), other reports filed with the Securities and Exchange Commission (“SEC”), and other filings Cathay General Bancorp makes with the SEC from time to time. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we undertake no obligation to update or review any forward-looking statement to reflect circumstances, developments or events occurring after the date on which the statement is made or to reflect the occurrence of unanticipated events.
CATHAY GENERAL BANCORP
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2026
June 30,
2026
September 30,
2025
2026
2025
$
211,878
$
200,897
$
189,587
$
606,943
$
547,447
28,600
11,240
28,731
58,033
55,431
183,278
189,657
160,856
548,910
492,016
42,770
21,405
21,021
84,834
47,616
103,376
92,316
88,117
282,372
262,907
122,672
118,746
93,760
351,372
276,725
27,498
26,537
16,109
77,103
52,118
$
95,174
$
92,209
$
77,651
$
274,269
$
224,607
$
1.43
$
1.38
$
1.13
$
4.10
$
3.22
$
1.43
$
1.37
$
1.13
$
4.09
$
3.21
$
0.38
$
0.38
$
0.34
$
1.14
$
1.02
1.51
%
1.52
%
1.29
%
1.50
%
1.28
%
12.28
%
12.21
%
10.60
%
12.13
%
10.39
%
40.60
%
41.53
%
41.84
%
40.82
%
44.18
%
26.49
%
27.59
%
29.93
%
27.74
%
31.59
%
5.74
%
5.66
%
5.84
%
5.70
%
5.85
%
2.93
%
2.89
%
3.32
%
2.94
%
3.38
%
2.81
%
2.77
%
2.52
%
2.76
%
2.47
%
3.52
%
3.48
%
3.31
%
3.48
%
3.28
%
13.51
%
13.70
%
13.15
%
13.51
%
13.70
%
13.15
%
15.00
%
15.47
%
14.76
%
11.06
%
11.28
%
10.88
%
CATHAY GENERAL BANCORP
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, 2026
June 30, 2026
September 30, 2025
$
131,044
$
163,976
$
166,167
1,576,961
1,163,120
1,141,886
1,589,036
1,682,820
1,643,450
13,597
—
—
21,195,861
20,621,332
20,104,716
(224,190
)
(218,896
)
(186,647
)
(15,523
)
(14,606
)
(14,987
)
20,956,148
20,387,830
19,903,082
116,907
80,854
32,111
17,250
17,250
17,250
26,910
33,659
32,983
295,407
293,553
292,672
90,346
90,613
88,552
6,393
11,214
7,730
97,206
94,676
96,055
375,696
375,696
375,696
2,095
2,341
2,667
35,493
33,269
31,086
242,012
221,948
244,257
$
25,572,501
$
24,652,819
$
24,075,644
$
3,950,436
$
3,567,527
$
3,574,567
2,634,247
2,612,011
2,226,182
4,284,484
3,894,594
3,586,301
1,517,383
1,421,969
1,424,243
9,448,438
9,565,547
9,709,856
21,834,988
21,061,648
20,521,149
200,000
—
190,000
65,011
119,136
119,136
6,393
11,214
7,730
37,370
35,114
33,079
371,994
379,093
302,274
22,515,756
21,606,205
21,173,368
3,056,745
3,046,614
2,902,276
$
25,572,501
$
24,652,819
$
24,075,644
$
46.26
$
45.59
$
42.50
66,083,728
66,825,367
68,286,591
CATHAY GENERAL BANCORP
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2026
June 30,
2026
September 30,
2025
2026
2025
(In thousands, except share and per share data)
$
317,189
$
302,170
$
308,945
$
918,294
$
899,786
15,086
14,420
12,690
42,489
38,459
658
253
376
1,785
1,128
12,219
10,610
12,184
32,947
37,135
345,152
327,453
334,195
995,515
976,508
83,001
80,207
93,087
248,054
283,517
47,869
42,930
46,300
131,805
133,104
384
1,457
3,075
2,851
5,721
1,808
1,841
2,043
5,478
6,092
212
121
103
384
627
133,274
126,556
144,608
388,572
429,061
211,878
200,897
189,587
606,943
547,447
28,600
11,240
28,731
58,033
55,431
183,278
189,657
160,856
548,910
492,016
36,053
11,652
3,263
65,021
(2,318
)
(15,084
)
(10,554
)
—
(41,323
)
—
2,093
2,331
2,256
6,830
6,467
2,106
1,971
2,011
6,091
5,688
6,623
7,920
6,219
21,645
17,324
10,979
8,085
7,272
26,570
20,455
42,770
21,405
21,021
84,834
47,616
48,233
46,733
43,462
140,477
129,012
6,171
5,812
6,104
17,799
17,791
7,211
6,594
5,760
19,432
16,974
7,842
7,438
7,360
23,062
23,696
4,136
3,651
3,991
11,802
13,028
2,896
2,992
2,783
8,335
9,359
1,683
1,472
1,494
5,018
4,485
442
339
(1,078
)
2,370
(1,211
)
6,467
9,873
12,149
23,080
32,382
218
217
229
653
729
18,077
7,195
5,863
30,344
16,662
103,376
92,316
88,117
282,372
262,907
122,672
118,746
93,760
351,372
276,725
27,498
26,537
16,109
77,103
52,118
$
95,174
$
92,209
$
77,651
$
274,269
$
224,607
$
1.43
$
1.38
$
1.13
$
4.10
$
3.22
$
1.43
$
1.37
$
1.13
$
4.09
$
3.21
$
0.38
$
0.38
$
0.34
$
1.14
$
1.02
66,499,705
67,014,700
68,727,390
66,832,009
69,692,964
66,761,397
67,304,846
68,990,648
67,131,370
69,946,877
CATHAY GENERAL BANCORP
AVERAGE BALANCES – SELECTED CONSOLIDATED FINANCIAL INFORMATION
(Unaudited)
Three months ended
September 30, 2026
June 30, 2026
September 30, 2025
Average Balance
Average Yield/Rate (1)
Average Balance
Average Yield/Rate (1)
Average Balance
Average Yield/Rate (1)
$
20,891,868
6.02
%
$
20,297,364
5.97
%
$
19,951,853
6.14
%
1,651,113
3.62
%
1,704,008
3.39
%
1,634,248
3.08
%
17,250
15.13
%
17,250
5.87
%
17,250
8.65
%
1,310,565
3.70
%
1,168,077
3.64
%
1,113,274
4.34
%
$
23,870,796
5.74
%
$
23,186,699
5.66
%
$
22,716,625
5.84
%
$
2,608,725
1.66
%
$
2,493,275
1.48
%
$
2,189,376
1.70
%
4,065,916
3.08
%
3,734,347
3.02
%
3,556,374
3.44
%
1,503,628
1.44
%
1,511,915
1.49
%
1,419,953
1.72
%
9,660,600
3.41
%
9,501,517
3.39
%
9,698,744
3.81
%
$
17,838,869
2.91
%
$
17,241,054
2.86
%
$
16,864,447
3.28
%
71,414
3.32
%
174,147
3.63
%
295,892
4.26
%
115,634
6.20
%
119,136
6.20
%
119,136
6.80
%
$
18,025,917
2.93
%
$
17,534,337
2.89
%
17,279,475
3.32
%
3,569,978
3,454,633
3,384,141
$
21,595,895
$
20,988,970
$
20,663,616
$
24,945,244
$
24,269,814
$
23,843,380
$
3,074,263
$
3,029,993
$
2,907,596
2.81
%
2.77
%
2.52
%
3.52
%
3.48
%
3.31
%
(1)
Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.
Nine months ended
September 30, 2026
September 30, 2025
Average Balance
Average Yield/Rate (1)
Average Balance
Average Yield/Rate (1)
$
20,453,313
6.00
%
$
19,593,553
6.14
%
1,675,273
3.39
%
1,572,074
3.27
%
17,250
13.83
%
17,250
8.74
%
1,202,938
3.66
%
1,139,060
4.36
%
$
23,348,774
5.70
%
$
22,321,937
5.85
%
$
2,482,097
1.53
%
$
2,155,336
1.69
%
3,825,022
3.03
%
3,468,421
3.43
%
1,509,852
1.48
%
1,351,352
1.65
%
9,616,901
3.45
%
9,658,300
3.92
%
$
17,433,872
2.91
%
$
16,633,409
3.35
%
124,401
3.48
%
204,953
4.14
%
117,956
6.21
%
119,136
6.84
%
17,676,229
2.94
%
16,957,498
3.38
%
3,459,809
3,340,530
$
21,136,038
$
20,298,028
$
24,421,642
$
23,462,799
$
3,023,608
$
2,890,581
2.76
%
2.47
%
3.48
%
3.28
%
(1)
Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.
CATHAY GENERAL BANCORP
GAAP to NON-GAAP RECONCILIATION
SELECTED CONSOLIDATED FINANCIAL INFORMATION
(Unaudited)
The Company uses certain non-GAAP financial measures including tangible book value (“TBV”), tangible book value per share (“TBV/Share”), tangible assets, tangible common equity (“TCE”) ratio, the return on average tangible common stockholders’ equity (“ROATCE”), adjusted total revenue, adjusted non-interest expense, and the adjusted efficiency ratio. We believe these non-GAAP financial measures provide investors with information useful in understanding its financial position, results of operations, the strength of its capital position, and overall business performance. These non-GAAP financial measures are used for performance measurement purposes, as well as for internal planning and forecasting, and by securities analysts, investors, and other interested parties to assess peer company operating performance. These non-GAAP financial measures should not be considered a substitute for GAAP-basis financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these with other companies that present financial measures having the same or similar names. The Company strongly encourages investors to review its consolidated financial statements in their entirety and to not rely on any single financial measure.
TBV represents stockholders’ equity less goodwill and other intangible assets. TBV/share represents TBV divided by the number of common shares outstanding at the end of the reporting period. The TCE ratio represents TBV divided by tangible assets. Tangible assets is equal to total assets less goodwill and other intangible assets. ROATCE is calculated using net income adjusted for the tax-effected amortization of intangible assets, as a percentage of average stockholders’ equity less average goodwill and other intangible assets.
As of
September 30,
2026
June 30,
2026
September 30,
2025
(Unaudited)
(a)
$
3,056,745
$
3,046,614
$
2,902,276
(375,696
)
(375,696
)
(375,696
)
(2,095
)
(2,341
)
(2,667
)
(b)
$
2,678,954
$
2,668,577
$
2,523,913
(c)
$
25,572,501
$
24,652,819
$
24,075,644
(375,696
)
(375,696
)
(375,696
)
(2,095
)
(2,341
)
(2,667
)
(d)
$
25,194,710
$
24,274,782
$
23,697,281
$
3,074,263
$
3,029,993
$
2,907,596
(377,960
)
(378,072
)
(378,510
)
(e)
$
2,696,303
$
2,651,921
$
2,529,086
(f)
66,083,728
66,825,367
68,286,591
g=(a)/(c)
11.95
%
12.36
%
12.05
%
h=(b)/(d)
10.63
%
10.99
%
10.65
%
$
46.26
$
45.59
$
42.50
i=(b)/(f)
$
40.54
$
39.93
$
36.96
Three Months Ended
September 30,
2026
June 30,
2026
September 30,
2025
(Unaudited)
$
95,174
$
92,209
$
77,651
210
278
249
(62
)
(82
)
(74
)
(j)
$
95,322
$
92,405
$
77,826
12.28
%
12.21
%
10.60
%
k=(j)/(e)
14.03
%
13.98
%
12.21
%
(1)
Includes core deposit intangibles and servicing rights
(2)
Applied the statutory rate of 29.65%.
(3)
Annualized
As of
September 30,
2026
September 30,
2025
(Unaudited)
(a)
$
3,056,745
$
2,902,276
(375,696
)
(375,696
)
(2,095
)
(2,667
)
(b)
$
2,678,954
$
2,523,913
(c)
$
25,572,501
$
24,075,644
(375,696
)
(375,696
)
(2,095
)
(2,667
)
(d)
$
25,194,710
$
23,697,281
$
3,023,608
$
2,890,581
(378,110
)
(378,718
)
(e)
$
2,645,498
$
2,511,863
(f)
66,083,728
68,286,591
g=(a)/(c)
11.95
%
12.05
%
h=(b)/(d)
10.63
%
10.65
%
$
46.26
$
42.50
i=(b)/(f)
$
40.54
$
36.96
Nine months ended
September 30,
2026
September 30,
2025
$
274,269
$
224,607
720
796
(213
)
(236
)
(j)
$
274,776
$
225,167
12.13
%
10.39
%
k=(j)/(e)
13.89
%
11.99
%
(1)
Includes core deposit intangibles and servicing rights
(2)
Applied the statutory rate of 29.65%.
(3)
Annualized
Adjusted total revenue is calculated by adding net interest income before provision for credit losses and non-interest income excluding net gains and losses from equity and investment securities and TruPS redemption benefit. Adjusted non-interest expense is non-interest expense excluding amortization of investments in low-income housing and alternative energy partnerships, other real estate owned expenses, amortization of core deposit intangibles, the FDIC special assessment, charitable contribution to Cathay Bank Foundation and contract termination costs. The Adjusted efficiency ratio is calculated by dividing the Company’s adjusted non‑interest expense by adjusted total revenue. It represents the costs expended to generate a dollar of revenue. The adjusted components exclude items that are non‑operational as well as the amortization of investments in low‑income housing partnerships and alternative energy partnerships. Although this amortization is operational in nature, it is removed to enhance comparability with peers that report these costs within income tax expense under proportional amortization accounting, which the Company has not yet adopted.
Three months ended
Nine months ended
September 30,
2026
June 30,
2026
September 30,
2025
September 30,
2026
September 30,
2025
a
$
211,878
$
200,897
$
189,587
$
606,943
$
547,447
$
42,770
$
21,405
$
21,021
$
84,834
$
47,616
(36,053
)
(11,652
)
(3,263
)
(65,021
)
2,318
15,084
10,554
—
41,323
—
(3,134
)
—
—
(3,134
)
—
b
$
18,667
$
20,307
$
17,758
$
58,002
$
49,934
c=a+b
$
230,545
$
221,204
$
207,345
$
664,945
$
597,381
d
$
103,376
$
92,316
$
88,117
$
282,372
$
262,907
(6,467
)
(9,873
)
(12,149
)
(23,080
)
(32,382
)
(442
)
(339
)
1,078
(2,370
)
1,211
(218
)
(217
)
(229
)
(653
)
(729
)
—
—
327
585
188
(8,000
)
—
—
(8,000
)
—
(5,383
)
—
—
(5,383
)
—
e
$
82,866
$
81,887
$
77,144
$
243,471
$
231,195
40.6
%
41.5
%
41.8
%
40.8
%
44.2
%
f=e/c
35.9
%
37.0
%
37.2
%
36.6
%
38.7
%