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Sep 30, 2024
Cathay General Q3 2024 Earnings Report
Cathay General Bancorp reported an increase in net interest margin and diluted earnings per share, with total deposits also increasing.
Key Takeaways
Cathay General Bancorp reported a net income of $67.5 million, or $0.94 per diluted share, for the third quarter of 2024. The net interest margin increased to 3.04%, and total deposits grew to $19.94 billion.
Net interest margin increased to 3.04% in Q3 2024 from 3.01% in Q2 2024.
Diluted earnings per share increased to $0.94 for Q3 2024 compared to $0.92 for Q2 2024.
Total deposits increased by $170.9 million, or 3.5% annualized, to $19.94 billion in Q3 2024.
The company repurchased 0.8 million shares at an average cost of $42.0 per share, for a total of $35.0 million.
Revenue by Segment
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Revenue & Expenses
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