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Sep 30, 2020
Cathay General Q3 2020 Earnings Report
Net income decreased year-over-year, while net interest margin remained stable compared to the previous quarter.
Key Takeaways
Cathay General Bancorp reported a net income of $56.8 million for Q3 2020, a decrease compared to $72.8 million for the same quarter a year ago. The net interest margin was 3.02%, unchanged from the second quarter of 2020. The provision for loan losses decreased to $12.5 million compared to $25.0 million for the second quarter of 2020.
Net income for the quarter was $56.8 million, or $0.71 per share.
Net interest margin was 3.02%, unchanged from the previous quarter.
Provision for loan losses decreased to $12.5 million.
Total non-accrual loans were $77.2 million, an increase of $36.7 million from December 31, 2019.
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