• Deposit Services: Offers various accounts for saving and managing funds, including checking, savings, money market, certificates of deposit, and individual retirement accounts.
• Lending Services: Provides diverse loan products such as commercial mortgage loans, commercial loans, residential mortgage loans, real estate construction loans, and consumer installment loans.
• Trade Finance & Treasury Services: Includes services like trade financing, letters of credit, wire transfers, and currency spot and forward contracts for businesses.
• Digital & Ancillary Banking Services: Offers modern conveniences like Internet banking, ATM services, safe deposit boxes, night deposit, and collection services.
• Investment & Insurance Products: Provides access to securities and insurance products for clients.

• Individuals: Cathay General Bancorp offers a wide range of products and services to individuals, including various deposit accounts (passbook, checking, money market, certificates of deposit, individual retirement accounts), residential mortgage loans, home equity lines of credit, and installment loans for household and consumer expenditures.
• Professionals: The company specifically caters to professionals, who likely utilize a combination of personal banking services and tailored financial solutions for their practices or professional needs.
• Small to Medium-sized Businesses (SMBs): A significant portion of its customer base includes small to medium-sized businesses. For these entities, Cathay General Bancorp provides commercial mortgage loans, commercial loans, Small Business Administration (SBA) loans, real estate construction loans, trade financing, letters of credit, and other customary commercial banking services.

Chang M. Liu, President and Chief Executive Officer

Chang M. Liu has served as the President and Chief Executive Officer of Cathay General Bancorp and Cathay Bank since October 2020, having been appointed President in 2019. He is also a member of both the Bancorp and Cathay Bank Boards. With over 31 years of experience in the financial services industry, Mr. Liu joined Cathay Bank in 2014 as Senior Vice President and Assistant Chief Lending Officer. He progressed to Executive Vice President and Chief Lending Officer in 2016, and Chief Operating Officer in 2018. Prior to his tenure at Cathay Bank, he held positions as Executive Vice President and Chief Lending Officer at Pacific Trust Bank and Banc of California, Senior Vice President of the Special Assets Group at U.S. Bank, and Senior Vice President of the Commercial Real Estate Group at California National Bank. Mr. Liu holds a bachelor of arts degree in economics from the University of California, Los Angeles.

Albert J. Wang, Chief Financial Officer and Treasurer

Albert J. Wang assumed the roles of Chief Financial Officer and Treasurer of Cathay General Bancorp and Cathay Bank effective March 1, 2026. He joined Cathay Bank as Executive Vice President and Deputy Chief Financial Officer in September 2025. Mr. Wang brings over 28 years of finance and accounting experience to his role. His previous experience includes serving as Executive Vice President and Chief Accounting Officer at Webster Bank from 2017 to 2025. He was also the Chief Accounting Officer at Banc of California, where he served as acting Chief Financial Officer. Earlier in his career, Mr. Wang held financial leadership roles at Santander Bank, including Chief Accounting Officer, and was a Senior Manager at PricewaterhouseCoopers LLP. He is a certified public accountant.

Dunson K. Cheng, Executive Chairman of the Board

Dunson K. Cheng serves as the Executive Chairman of the Board for Cathay General Bancorp and Cathay Bank, a position he has held since 1990. He was previously the Chairman of the Board and Chief Executive Officer of Cathay Bank. Mr. Cheng played a significant role in the merger between Cathay Bancorp and General Bank in 2003, a transaction that resulted in the creation of a larger bank focused on the Asian-American community.

Anthony M. Tang, Vice Chairman of the Board

Anthony M. Tang is the Vice Chairman of the Board of Cathay General Bancorp and Cathay Bank. He has been in this role since 1990.

Albert Sun, Executive Vice President and Chief Credit Officer

Albert Sun is the Executive Vice President and Chief Credit Officer of Cathay Bank.

Here are the key risks to Cathay General Bancorp (symbol: CATY):

1. Commercial Real Estate (CRE) Loan Concentration Risk: Cathay General Bancorp faces significant credit risk concerns, particularly due to its exposure to commercial real estate loans. This risk has intensified with hotter-than-expected inflation data and growing worries over regional banks' CRE portfolios, leading to pressure on the company's stock and questions about its profitability.
2. Intense Competition and the Need for Continuous Technological Advancement: The banking sector is highly competitive, with Cathay General Bancorp facing pressure from both traditional banks and emerging fintech companies. The company's ability to maintain its market share and operational efficiency is challenged by the continuous need to invest in technological advancements. Failure to keep pace with digital transformation could lead to operational inefficiencies and a loss of market share.
3. Market-Specific and Geographic Concentration Risk: While its focus on the Chinese-American community is a strength, it also exposes Cathay General Bancorp to market-specific risks. Economic fluctuations within this demographic or changes in immigration patterns could disproportionately affect the bank's performance. Additionally, the bank's significant presence in specific geographic locations, such as Southern California and New York State, makes it vulnerable to regional economic downturns or natural disasters.

The increasing proliferation and adoption of digital-only banks and fintech companies offering superior digital experiences, competitive rates, and lower fees for deposits and loans.

The expansion of large technology companies (e.g., Apple, Google, Amazon) into core banking services, leveraging their massive user bases, technological capabilities, and integrated ecosystems to offer compelling financial products.

Cathay General Bancorp (symbol: CATY) operates Cathay Bank, providing a range of commercial banking products and services primarily in the United States, with a presence also in Hong Kong and representative offices in Beijing, Taipei, and Shanghai. The addressable markets for its main products and services are sizable within these regions.

United States Addressable Markets:

• Commercial Banking Market: The U.S. commercial banking market size is estimated at USD 765.53 billion in 2026 and is projected to reach USD 954.48 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 4.51%. Another estimate places the market at USD 732.5 billion in 2025, with a forecast to reach USD 915.45 billion by 2030 at a CAGR of 4.56%.
• Deposit Products: Total commercial bank deposits in the U.S. surpassed $18.5 trillion as of October 2025, with a year-over-year growth rate ranging between 3.9% and 4.1%. Total domestic deposits grew by approximately $900 billion by Q3 2025, following Federal Reserve interest rate cuts, and are tracking a historical growth path with a CAGR of about 3%. As of Q2 2025, community banks held 16.6% of total domestic deposits.
• Commercial Mortgage Loans: Total commercial real estate (CRE) mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024, a 16% increase from the previous year. The broader U.S. Real Estate Loan Market, which includes residential, commercial, and industrial property developments, was valued at USD 3.5 trillion in 2024 and is projected to grow at a CAGR of 10.6%. The U.S. Real Estate Loans & Collateralized Debt industry is expected to be $492.0 billion in 2026.
• Commercial Loans (Commercial and Industrial Loans): Commercial and Industrial Loans for all U.S. commercial banks amounted to approximately $2.79 trillion in February 2026. North America, where the U.S. holds about 75% of the market share, is projected to reach a valuation of USD 2,892.50 billion by 2025 for commercial lending.
• Small Business Administration (SBA) Loans: The U.S. small business loan market was valued at $245.39 billion in 2023 and is projected to reach $349.64 billion by 2033, with a CAGR of 3.4% from 2024 to 2033. SBA lending is forecast to increase by 10-12% in 2025, reaching $55-56 billion.
• Residential Mortgage Loans: The U.S. home loan market reached USD 2.42 trillion in 2026 and is forecasted to grow to USD 3.17 trillion by 2031, exhibiting a CAGR of 5.56%. Total single-family mortgage origination volume is expected to increase to $2.2 trillion in 2026 from $2.0 trillion in 2025.
• Home Equity Lines of Credit (HELOCs): The U.S. home equity lending market was valued at USD 179.21 billion in 2025 and is estimated to grow to USD 228.25 billion by 2031, at a CAGR of 4.12%. Outstanding HELOC balances increased by $12 billion in the fourth quarter of 2025, totaling $433 billion. Lenders originated 1.208 million HELOCs in 2025, an 11% increase from 2024.
• Installment Loans to Individuals (Consumer Loans): The overall U.S. consumer lending market has a size of $27 trillion and is growing. Consumer loans at U.S. banks totaled nearly $2 trillion in June 2025. Outstanding credit card balances reached $1.28 trillion in Q4 2025.

Hong Kong Addressable Markets:

• Banking Industry: The total assets of all licensed banks in Hong Kong rose by 4.5% to HK$24 trillion (approximately USD 3.07 trillion) by the end of 2024. The Hong Kongese banking industry recorded total assets of $3,712 billion in 2024. Total gross loans and advances of all surveyed banks in Hong Kong were HK$9,502 billion (approximately USD 1.22 trillion) by the end of 2024.
• Retail Banking Market: The Hong Kong retail banking market is estimated at USD 23.7 billion in 2025 and is forecast to expand to USD 31.9 billion by 2033, representing a CAGR of 3.8%.

Cathay General Bancorp (CATY) is expected to drive future revenue growth over the next two to three years through several key strategies:

1. Loan Growth: Cathay General Bancorp anticipates a significant increase in its loan portfolio. For 2026, the company expects loan growth to range between 3.5% and 4.5%. This expansion in lending activities is a primary driver for the bank's net interest income.
2. Deposit Growth and Optimized Funding Costs: The company projects deposit growth to be between 4% and 5% in 2026, fueled by seasonal factors and targeted marketing efforts. An increase in deposits provides a stable and lower-cost funding base for loans, which contributes to an improved net interest margin (NIM). The net interest margin increased in the fourth quarter of 2025, primarily due to a lower cost of funds.
3. Expansion of Noninterest Income and Fee-Based Services: While net interest income is the main revenue component, growth in noninterest income, which increased in Q4 2025, is also a key focus. This includes revenue from various banking services, credit products, wealth management, and trading activities. A strategic emphasis on wealth management, foreign exchange (FX) services, and other fee-generating businesses is expected to offset potential normalization in the net interest margin.
4. Strategic Focus on Core Customer Segments and Digital Banking Enhancements: Cathay General Bancorp's established focus on serving individuals, professionals, and small to medium-sized businesses in its existing markets, including various U.S. states and Hong Kong, positions it favorably for future growth. Continued targeted marketing activities within these segments can drive customer acquisition and deposit growth. Furthermore, ongoing enhancements in digital banking services and online platforms are crucial for improving customer experience and operational efficiency, supporting growth across its customer base.

Share Repurchases

• Cathay General Bancorp authorized a new share repurchase program of up to $150,000,000 of its common stock on June 4, 2025.
• The previous $125,000,000 share repurchase program, announced on May 28, 2024, was completed on February 28, 2025, with 2,905,487 shares repurchased at an average cost of $43.02 per share.
• In Q4 2025, the company spent $52 million on share buybacks, contributing to a full-year 2025 buyback spending of just under $180 million, which was $95 million more than in 2024.

Share Issuance

• The number of common shares outstanding was approximately 70,285,292 as of February 14, 2025.
• As of June 4, 2025, the company had approximately 70,133,321 shares of common stock outstanding.
• The company's share count fell by 5% in 2025, primarily due to increased share repurchases.

Outbound Investments

• Cathay General Bancorp acts as the holding company for ten limited partnerships that invest in affordable housing.
• The company also has a subsidiary, GBC Venture Capital, Inc., which is part of its investment structure.
• Cathay General Bancorp finances affordable housing and renewable energy projects that generate tax credits, with Q2 2024 results including $4.1 million from accelerated amortization of solar tax credit investments.

Capital Expenditures

• Cathay General Bancorp reported capital expenditures of -$3 million in 2025 and -$4 million in 2024.