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.

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