CATY - Cathay General Bancorp GAAP EPS of $1.28 revenue of $204.64M

2023-07-24 16:47:18 ET

• Cathay General Bancorp press release ( NASDAQ: CATY ): Q2 GAAP EPS of $1.28.
• Revenue of $204.64M (+7.8% Y/Y).
• Gross loans were $18.95 billion as of June 30, 2023, an increase of $635.5 million, or 3.5%, from $18.32 billion as of March 31, 2023.
• The increase from March 31, 2023 was primarily due to an increase of $376.7 million, or 4.2%, in commercial mortgage loans, an increase of $164.8 million, or 5.2%, in commercial loans and an increase of $158.2 million, or 2.9%, in residential mortgage loans offset, in part, by a decrease of $37.3 million, or 6.7%, in real estate construction loans, and a decrease of $26.6 million, or 8.9%, in home equity loans.
• Total gross loans increased by $635.5 million, or 13.9% annualized, to $19.0 billion in the second quarter of 2023.
• The net interest margin decreased to 3.44% in the second quarter of 2023 from 3.74% in the first quarter of 2023.

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