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Jun 30, 2024
Cathay General Q2 2024 Earnings Report
Cathay General Bancorp reported net income of $66.8 million for the second quarter of 2024.
Key Takeaways
Cathay General Bancorp announced its second quarter 2024 results with a net income of $66.8 million, or $0.92 per share. The results included benefits from accelerated amortization of solar tax credit investments and a mark-to-market loss from equity securities.
Net income for the second quarter of 2024 was $66.8 million, or $0.92 per share.
Net interest margin decreased to 3.01% in the second quarter of 2024 from 3.05% in the first quarter of 2024.
The company repurchased 0.7 million shares at an average cost of $36.41 per share, for a total of $25.1 million.
Total non-performing assets increased $3.9 million, or 3.1%, to $129.0 million.
Cathay General
Cathay General
Forward Guidance
No specific forward guidance was provided in the press release.