Cathay General Bancorp
CATYNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $65.35 Prior regular-session close from the quote source.
- $65.02–$65.59 Regular-session low and high so far today.
- 382.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $44.82–$67.62 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own CATY if Cathay General Bancorp is a spread-and-credit-quality thesis: its value depends on whether a Los Angeles-based relationship banking franchise can keep funding, underwriting, and capital discipline intact through the regional-bank credit cycle.
CATY price history
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Investment thesis
What must happen next
Cathay’s relationship-banking franchise can keep deposit and funding pressure from overwhelming asset yields, so spread income remains a durable engine rather than a one-cycle rate benefit.StrengtheningMateriality: High
GAAP annual revenue, measured as net interest income plus noninterest income, increased from $729.7 million in FY2024 to $817.9 million in FY2025. If this holds, revenue can recover without taking excess credit or duration risk; if it breaks, earnings power falls even before loan losses appear.
Watch: Large banks or digital banks aggressively target Cathay’s core relationship customers with materially higher-rate deposits, forcing the bank to reprice funding faster than assets.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue, measured as net interest income plus noninterest income, increased from $729.7 million in FY2024 to $817.9 million.
Open source ↗Local underwriting and borrower selection must keep credit losses contained, because the bank’s spread income only creates value if commercial and real estate credit does not deteriorate materially.HoldingMateriality: High
GAAP annual net income rose from $286.0 million in FY2024 to $315.1 million in FY2025. Credit discipline is the difference between profitable balance-sheet growth and value-destructive loan growth for a regional bank.
Watch: A California commercial real estate downturn, especially in office, retail, or investor real estate collateral, would undermine loan performance before earnings fully reflect losses.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual net income rose from $286.0 million in FY2024 to $315.1 million in FY2025.
Open source ↗Cathay can compound value if balance-sheet growth is paced by capital and underwriting discipline rather than by chasing volume late in the cycle.StrengtheningMateriality: Medium
GAAP stockholders’ equity increased from $2.85 billion at FY2024 year-end to $2.93 billion at FY2025 year-end. Asset growth helps owners only if it earns adequate risk-adjusted returns and does not require dilutive capital or future credit clean-up.
Watch: Loan growth requiring looser covenants, higher loan-to-value lending, or lower borrower quality would show growth is being bought with future credit risk.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP stockholders’ equity increased from $2.85 billion at FY2024 year-end to $2.93 billion at FY2025 year-end.
Open source ↗The franchise must convert spread recovery into per-share earnings rather than letting wage, technology, compliance, or credit costs absorb the benefit.HoldingMateriality: Medium
GAAP diluted EPS increased from $3.95 in FY2024 to $4.54 in FY2025. Owners are paid on per-share compounding; revenue growth that does not translate into EPS is not enough.
Watch: Sustained increases in compliance, technology, fraud prevention, or staffing costs would prevent spread gains from reaching shareholders.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS increased from $3.95 in FY2024 to $4.54 in FY2025.
Open source ↗
Full investment case & evidence
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Original research
Cathay’s relationship-banking franchise can keep deposit and funding pressure from overwhelming asset yields, so spread income remains a durable engine rather than a one-cycle rate benefit. If this holds, revenue can recover without taking excess credit or duration risk; if it breaks, earnings power falls even before loan losses appear.
Local underwriting and borrower selection must keep credit losses contained, because the bank’s spread income only creates value if commercial and real estate credit does not deteriorate materially. Credit discipline is the difference between profitable balance-sheet growth and value-destructive loan growth for a regional bank.
Cathay can compound value if balance-sheet growth is paced by capital and underwriting discipline rather than by chasing volume late in the cycle. Asset growth helps owners only if it earns adequate risk-adjusted returns and does not require dilutive capital or future credit clean-up.
The franchise must convert spread recovery into per-share earnings rather than letting wage, technology, compliance, or credit costs absorb the benefit. Owners are paid on per-share compounding; revenue growth that does not translate into EPS is not enough.
All standing thesis claims
Original report summary
Cathay General Bancorp is a spread-and-credit-quality thesis: its value depends on whether a Los Angeles-based relationship banking franchise can keep funding, underwriting, and capital discipline intact through the regional-bank credit cycle.
Bull case and bear case
Bull case and bear case for Cathay General Bancorp
Where the evidence on Cathay General Bancorp stands: Holding on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 2 strengthening and 2 holding.
Bull case: what the evidence supports
Cathay’s relationship-banking franchise can keep deposit and funding pressure from overwhelming asset yields, so spread income remains a durable engine rather than a one-cycle rate benefit.
Local underwriting and borrower selection must keep credit losses contained, because the bank’s spread income only creates value if commercial and real estate credit does not deteriorate materially.
Cathay can compound value if balance-sheet growth is paced by capital and underwriting discipline rather than by chasing volume late in the cycle.
The franchise must convert spread recovery into per-share earnings rather than letting wage, technology, compliance, or credit costs absorb the benefit.
Bear case: what would count against it
Large banks or digital banks aggressively target Cathay’s core relationship customers with materially higher-rate deposits, forcing the bank to reprice funding faster than assets.
A California commercial real estate downturn, especially in office, retail, or investor real estate collateral, would undermine loan performance before earnings fully reflect losses.
Loan growth requiring looser covenants, higher loan-to-value lending, or lower borrower quality would show growth is being bought with future credit risk.
Thesis-Break Engine
Thesis-break watch · Cathay General Bancorp
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Cathay General Bancorp filed an SEC 8-K on 2026-07-22: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedOther material event.
Cathay General Bancorp filed an SEC 8-K on 2026-04-23: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Cathay General Bancorp filed an SEC 8-K on 2026-04-22: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large banks or digital banks aggressively target Cathay’s core relationship customers with materially higher-rate deposits, forcing the bank to reprice funding faster than assets.
- A California commercial real estate downturn, especially in office, retail, or investor real estate collateral, would undermine loan performance before earnings fully reflect losses.
- Loan growth requiring looser covenants, higher loan-to-value lending, or lower borrower quality would show growth is being bought with future credit risk.
- Sustained increases in compliance, technology, fraud prevention, or staffing costs would prevent spread gains from reaching shareholders.
CATY news
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Financial statements
CATY income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
CATY: quick answers
- Have members of Congress traded CATY?
- Reports made public in the last 90 days disclose 1 trade in CATY by 1 filer: 0 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed CATY trade