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Note 20 - Condensed Financial Information of Cathay General Bancorp | 12 Months Ended
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Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 20. Condensed Financial Information of Cathay General Bancorp The condensed financial information of the Bancorp as of December 31, 2014, and December 31, 2013, and for the years ended December 31, 2014, 2013, and 2012 is as follows: Balance Sheet s
|  | As of December 31, |
|  | 2014 |  |  | 2013 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 7,420 |  |  | $ | 1,835 |
Cash pledged as margin for interest rate swaps |  |  | 7,465 |  |  |  | - |
Short-term certificates of deposit |  |  | 23,203 |  |  |  | 38,000 |
Securities available for sale |  |  | 10,244 |  |  |  | 11,404 |
Investment in bank subsidiaries |  |  | 1,666,238 |  |  |  | 1,525,459 |
Investment in non-bank subsidiaries |  |  | 2,631 |  |  |  | 2,536 |
Other assets |  |  | 9,541 |  |  |  | 1,462 |
Total assets |  | $ | 1,726,742 |  |  | $ | 1,580,696 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 121,136 |
Other liabilities |  |  | 4,718 |  |  |  | 589 |
Total liabilities |  |  | 123,854 |  |  |  | 121,725 |
Commitments and contingencies |  |  | - |  |  |  | - |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 84,022,118 issued and 79,814,553 outstanding at December 31, 2014, and 83,797,434 issued and 79,589,869 outstanding at December 31, 2013 |  |  | 840 |  |  |  | 838 |
Additional paid-in-capital |  |  | 789,519 |  |  |  | 784,489 |
Accumulated other comprehensive loss, net |  |  | (5,569 | ) |  |  | (29,729 | )
Retained earnings |  |  | 943,834 |  |  |  | 829,109 |
Treasury stock, at cost (4,207,565 shares at December 31, 2014, and at December 31, 2013) |  |  | (125,736 | ) |  |  | (125,736 | )
Total stockholders' equity |  |  | 1,602,888 |  |  |  | 1,458,971 |
Total liabilities and stockholders' equity |  | $ | 1,726,742 |  |  | $ | 1,580,696 |
Statements of Operations
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Cash dividends from Cathay Bank |  | $ | 30,000 |  |  | $ | 138,030 |  |  | $ | 154,700 |
Interest income |  |  | 88 |  |  |  | 157 |  |  |  | 196 |
Interest expense |  |  | 4,469 |  |  |  | 2,994 |  |  |  | 3,228 |
Non-interest income |  |  | 10,144 |  |  |  | 434 |  |  |  | 3,718 |
Non-interest expense |  |  | 2,248 |  |  |  | 2,443 |  |  |  | 2,064 |
Income before income tax benefit |  |  | 33,515 |  |  |  | 133,184 |  |  |  | 153,322 |
Income tax benefit |  |  | 1,478 |  |  |  | (2,037 | ) |  |  | (579 | )
Income before undistributed earnings of subsidiaries |  |  | 32,037 |  |  |  | 135,221 |  |  |  | 153,901 |
Distributions more than earnings of subsidiaries |  |  | - |  |  |  | (12,078 | ) |  |  | (36,463 | )
Undistributed earnings of subsidiary |  |  | 105,793 |  |  |  | - |  |  |  | - |
Net income |  | $ | 137,830 |  |  | $ | 123,143 |  |  | $ | 117,438 |
Statements of Cash Flows
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 137,830 |  |  | $ | 123,143 |  |  | $ | 117,438 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Dividends in excess of earnings of subsidiaries |  |  | - |  |  |  | 12,078 |  |  |  | 36,463 |
Equity in undistributed earnings of subsidiaries |  |  | (105,793 | ) |  |  | - |  |  |  | - |
Gains on sale of securities |  |  | (10,689 | ) |  |  | - |  |  |  | (3,380 | )
Income associated with debt redemption |  |  | (555 | ) |  |  | - |  |  |  | - |
Write-downs on venture capital and other investments |  |  | 432 |  |  |  | 357 |  |  |  | 262 |
Write-downs on impaired securities |  |  | 264 |  |  |  | - |  |  |  | 181 |
Loss in fair value of warrants |  |  | 3 |  |  |  | 56 |  |  |  | 114 |
Stock issued to officers as compensation |  |  | 350 |  |  |  | - |  |  |  | - |
Excess tax short-fall from stock options |  |  | 1,285 |  |  |  | 2,509 |  |  |  | 620 |
Net change in other assets |  |  | (3,445 | ) |  |  | (1,684 | ) |  |  | 1,820 |
Net change in other liabilities |  |  | (1,294 | ) |  |  | 27 |  |  |  | 71 |
Net cash provided by operating activities |  |  | 18,388 |  |  |  | 136,486 |  |  |  | 153,589 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
Decrease/(increase) in short-term investment |  |  | 14,797 |  |  |  | 123,300 |  |  |  | (142,300 | )
Proceeds from sale of available-for-sale securities |  |  | 12,083 |  |  |  | - |  |  |  | 4,849 |
Purchase of available-for-sale securities |  |  | (7,920 | ) |  |  | - |  |  |  | - |
Venture capital and other investments |  |  | (590 | ) |  |  | (835 | ) |  |  | (694 | )
Net cash provided by/(used in) investment activities |  |  | 18,370 |  |  |  | 122,465 |  |  |  | (138,145 | )
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Redemption of Series B preferred stock |  |  | - |  |  |  | (258,000 | ) |  |  | - |
Repayment of long-term debt |  |  | (1,445 | ) |  |  | - |  |  |  | - |
Cash dividends |  |  | (23,104 | ) |  |  | (12,606 | ) |  |  | (16,049 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 2,848 |  |  |  | 605 |  |  |  | 291 |
Proceeds from exercise of stock options |  |  | 128 |  |  |  | 14,755 |  |  |  | 764 |
Taxes paid related to net share settlement of RSUs |  |  | (850 | ) |  |  | - |  |  |  | - |
Excess tax short-fall from share-based payment arrangements |  |  | (1,285 | ) |  |  | (2,509 | ) |  |  | (620 | )
Net cash used in financing activities |  |  | (23,708 | ) |  |  | (257,755 | ) |  |  | (15,614 | )
Increase/(decrease) in cash and cash equivalents |  |  | 13,050 |  |  |  | 1,196 |  |  |  | (170 | )
Cash and cash equivalents, beginning of year |  |  | 1,835 |  |  |  | 639 |  |  |  | 809 |
Cash and cash equivalents, end of year |  | $ | 14,885 |  |  | $ | 1,835 |  |  | $ | 639 |

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