Quarterly ResultMay 8, 2026, 04:57 PM
Cathay General Bancorp Q1 Net Income $86.9M, EPS $1.30
AI Summary
Cathay General Bancorp reported strong first-quarter 2026 results with net income increasing 25.0% to $86.9 million and basic EPS rising 31.3% to $1.30. Net interest income before provision for credit losses grew by 9.9% to $194.2 million, while total non-interest income saw a significant 84.4% increase to $20.7 million, primarily due to net gains from equity securities. The company also noted a $15.7 million impairment loss on available-for-sale investment securities and a 20.8% decrease in non-accrual loans to $89.0 million.
Key Highlights
- Net income increased 25.0% to $86.9 million for Q1 2026.
- Basic earnings per share rose 31.3% to $1.30 for Q1 2026.
- Net interest income before provision for credit losses increased 9.9% to $194.2 million.
- Total non-interest income surged 84.4% to $20.7 million, driven by equity securities gains.
- Recognized a $15.7 million impairment loss on available-for-sale investment securities.
- Non-accrual loans decreased 20.8% to $89.0 million at March 31, 2026.
- Cash dividends paid per common share increased 11.8% to $0.38.
- Total assets decreased 0.7% to $24.05 billion at March 31, 2026.