Cathay General Profit Up 25% on Loan Growth

Cathay General Bancorp, parent of Cathay Bank in Los Angeles, said first-quarter net income rose 25% to $25 million, or 49 cents a share. That compares with $19.9 million, or 40 cents a share, in the year-earlier period.

Revenue rose 17% to $64.7 million, up from $55.4 million.

“Continued strong organic loan growth in all major loan categories, a further improvement in the net interest margin, and low net credit losses were all factors that contributed to the record results,” said Chairman and Chief Executive Dunson K. Cheng.

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Kathy M. Kristof