Markets

Cathay General Bancorp Q3 Profit Down

(RTTNews) - Cathay General Bancorp (CATY) Monday reported third-quarter net income of $56.8 million or $0.71 per share, down from $72.8 million or $0.91 per share last year.

Net interest income before provision for credit losses decreased 6.5% to $137.5 million, compared to $147.0 million last year, due to a decrease in interest income from loans and securities.

Net interest margin was 3.02% for the third quarter compared to 3.56% last year.

Non-interest income was $10.0 million for the third quarter, a decrease of 3.8% compared to $10.4 million last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CATY

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More