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Note 20 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended
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Dec. 31, 2018
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of December 31, |
|  | 2018 |  |  | 2017 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 19,861 |  |  | $ | 44,645 |
Cash pledged as margin for interest rate swaps |  |  | 1,766 |  |  |  | 4,506 |
Short-term certificates of deposit |  |  | 328 |  |  |  | 327 |
Securities available for sale |  |  | 17,564 |  |  |  | 19,806 |
Investment in Cathay Bank subsidiary |  |  | 2,290,073 |  |  |  | 2,134,445 |
Investment in non-bank subsidiaries |  |  | 4,652 |  |  |  | 4,799 |
Other assets |  |  | 6,012 |  |  |  | 6,831 |
Total assets |  | $ | 2,340,256 |  |  | $ | 2,215,359 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 119,136 |
Long-term Debt |  |  | 70,313 |  |  |  | 75,000 |
Deferred payments from acquisition |  |  | 18,458 |  |  |  | 35,404 |
Other liabilities |  |  | 10,483 |  |  |  | 12,515 |
Total liabilities |  |  | 218,390 |  |  |  | 242,055 |
Commitments and contingencies |  |  | - |  |  |  | - |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 89,826,317 issued and 80,501,948 outstanding at December 31, 2018, and 89,104,022 issued and 80,893,379 outstanding at December 31, 2017 |  |  | 898 |  |  |  | 891 |
Additional paid-in-capital |  |  | 942,062 |  |  |  | 932,874 |
Accumulated other comprehensive loss, net |  |  | (18,006 | ) |  |  | (2,511 | )
Retained earnings |  |  | 1,479,149 |  |  |  | 1,281,639 |
Treasury stock, at cost (9,324,369 shares at December 31, 2018, and 8,210,643 shares at December 31, 2017) |  |  | (282,237 | ) |  |  | (239,589 | )
Total stockholders' equity |  |  | 2,121,866 |  |  |  | 1,973,304 |
Total liabilities and stockholders' equity |  | $ | 2,340,256 |  |  | $ | 2,215,359 |
Condensed Income Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (In thousands) |
Cash dividends from Cathay Bank and Far East National Bank |  | $ | 127,825 |  |  | $ | 265,207 |  |  | $ | 113,448 |
Cash dividends from GBC Venture Capital |  |  | - |  |  |  | - |  |  |  | 950 |
Interest income |  |  | 57 |  |  |  | 221 |  |  |  | 48 |
Interest expense |  |  | 9,813 |  |  |  | 7,637 |  |  |  | 5,791 |
Non-interest (loss)/income |  |  | (1,940 | ) |  |  | 1,909 |  |  |  | (488 | )
Gain from acquisition |  |  | 340 |  |  |  | 5,628 |  |  |  | - |
Non-interest expense |  |  | 3,782 |  |  |  | 6,726 |  |  |  | 3,756 |
Income before income tax benefit |  |  | 112,687 |  |  |  | 258,602 |  |  |  | 104,411 |
Income tax benefit |  |  | (4,971 | ) |  |  | (5,687 | ) |  |  | (4,199 | )
Income before undistributed earnings of subsidiaries |  |  | 117,658 |  |  |  | 264,289 |  |  |  | 108,610 |
Undistributed earnings of subsidiary |  |  | 154,227 |  |  |  | (88,247 | ) |  |  | 66,489 |
Net income |  | $ | 271,885 |  |  | $ | 176,042 |  |  | $ | 175,099 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 271,885 |  |  | $ | 176,042 |  |  | $ | 175,099 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (154,227 | ) |  |  | 88,247 |  |  |  | (67,770 | )
Dividends in excess of earnings of non-bank subsidiaries |  |  | - |  |  |  | - |  |  |  | 1,281 |
Unrealized loss on equity securities |  |  | 2,242 |  |  |  | - |  |  |  | - |
Write-downs on venture capital and other investments |  |  | 271 |  |  |  | 254 |  |  |  | 503 |
Write-downs on impaired securities |  |  | - |  |  |  | - |  |  |  | 206 |
Loss in fair value of warrants |  |  | (93 | ) |  |  | (12 | ) |  |  | (17 | )
Stock issued to directors as compensation |  |  | 649 |  |  |  | 550 |  |  |  | 550 |
Net change in other assets |  |  | 915 |  |  |  | 3,490 |  |  |  | (1,136 | )
Gain from acquisition |  |  | (340 | ) |  |  | (5,628 | ) |  |  | - |
Net change in other liabilities |  |  | (1,375 | ) |  |  | 5,949 |  |  |  | (756 | )
Net cash provided by operating activities |  |  | 119,927 |  |  |  | 268,892 |  |  |  | 107,960 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
(Increase)/decrease in short-term investment |  |  | (1 | ) |  |  | (2 | ) |  |  | 23,999 |
Proceeds from sale of available-for-sale securities |  |  | - |  |  |  | 12,580 |  |  |  | 294 |
Purchase of available-for-sale securities |  |  | - |  |  |  | (2,759 | ) |  |  | - |
Venture capital and other investments |  |  | 150 |  |  |  | 671 |  |  |  | 134 |
Acquisitions, net of cash acquired |  |  | - |  |  |  | (275,328 | ) |  |  | - |
Net cash provided by/(used in) investment activities |  |  | 149 |  |  |  | (264,838 | ) |  |  | 24,427 |
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Repayment of long-term debt |  |  | (21,633 | ) |  |  | - |  |  |  | - |
Proceeds of issuance of long-term debt |  |  | - |  |  |  | 75,000 |  |  |  | - |
Cash dividends |  |  | (83,428 | ) |  |  | (69,888 | ) |  |  | (59,274 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 2,821 |  |  |  | 2,528 |  |  |  | 2,277 |
Proceeds from exercise of stock options |  |  | 838 |  |  |  | 1,094 |  |  |  | 7,661 |
Taxes paid related to net share settlement of RSUs |  |  | (3,550 | ) |  |  | (5,128 | ) |  |  | (103 | )
Purchase of treasury stock |  |  | (42,648 | ) |  |  | - |  |  |  | (54,441 | )
Net cash (used in)/provided by financing activities |  |  | (147,600 | ) |  |  | 3,606 |  |  |  | (103,880 | )
(Decrease)/Increase in cash and cash equivalents |  |  | (27,524 | ) |  |  | 7,660 |  |  |  | 28,507 |
Cash and cash equivalents, beginning of the year |  |  | 49,151 |  |  |  | 41,491 |  |  |  | 12,984 |
Cash and cash equivalents, end of the year |  | $ | 21,627 |  |  | $ | 49,151 |  |  | $ | 41,491 |

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