Loading...
•
Sep 30, 2022
Cathay General Q3 2022 Earnings Report
Net income increased driven by loan growth and higher interest rates, with EPS increasing by 14.1% compared to Q2 2022 and 45.2% compared to Q3 2021.
Key Takeaways
Cathay General Bancorp reported a net income of $99.0 million, or $1.35 per share, for the third quarter of 2022, marking a significant increase compared to the same quarter last year.
Total loans increased to $18.1 billion, reflecting a 7.8% annualized growth in the third quarter.
Net interest margin improved to 3.83% in the third quarter of 2022, up from 3.22% in the third quarter of 2021.
Earnings per share rose by 14.1% compared to the second quarter of 2022 and by 45.2% compared to the same quarter in 2021.
The company repurchased 1.08 million shares at an average cost of $42.88 per share, totaling $46.3 million.
Cathay General
Cathay General
Forward Guidance
This document does not contain forward guidance.