Cathay General Bancorp Q1 net income falls 13.5% to $71.4 million
Cathay General Bancorp (Nasdaq: CATY) reported first-quarter 2024 net income of $71.4 million, or $0.98 per diluted share, down from $82.5 million, or $1.13 per diluted share, in the fourth quarter of 2023 and $96.0 million, or $1.32 per diluted share, a year earlier. Lower net interest income, a mark-to-market loss on equity securities and rising non-performing loans weighed on results, which matters to shareholders because earnings per share fell in both comparisons.
Key points
- Net income $71.4 million vs. $82.5 million in Q4 2023 and $96.0 million in Q1 2023
- Diluted EPS $0.98 vs. $1.13 in Q4 2023 and $1.32 in Q1 2023, including a $9.0 million equity securities mark-to-market loss
- Net interest margin fell to 3.05% from 3.27% in Q4 2023; non-accrual loans rose $31.4 million to $98.1 million
- Conference call scheduled for Monday, April 22, 2024, at 3:00 p.m. Pacific Time
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.