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Note 20 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended
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Dec. 31, 2019
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 32,468 |  |  | $ | 19,861 |
Cash pledged as margin for interest rate swaps |  |  | 7,098 |  |  |  | 1,766 |
Short-term certificates of deposit |  |  | 330 |  |  |  | 328 |
Equity securities |  |  | 19,258 |  |  |  | 17,564 |
Investment in Cathay Bank subsidiary |  |  | 2,365,206 |  |  |  | 2,290,073 |
Investment in non-bank subsidiaries |  |  | 4,458 |  |  |  | 4,652 |
Other assets |  |  | 5,530 |  |  |  | 6,012 |
Total assets |  | $ | 2,434,348 |  |  | $ | 2,340,256 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 119,136 |
Long-term Debt |  |  | — |  |  |  | 70,313 |
Deferred payments from acquisition |  |  | 7,644 |  |  |  | 18,458 |
Other liabilities |  |  | 13,285 |  |  |  | 10,483 |
Total liabilities |  |  | 140,065 |  |  |  | 218,390 |
Commitments and contingencies |  |  | — |  |  |  | — |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 90,064,382 issued and 79,729,419 outstanding at December 31, 2019, and 89,826,317 issued and 80,501,948 outstanding at December 31, 2018 |  |  | 900 |  |  |  | 898 |
Additional paid-in-capital |  |  | 950,466 |  |  |  | 942,062 |
Accumulated other comprehensive loss, net |  |  | 2,302 |  |  |  | (18,006 | )
Retained earnings |  |  | 1,659,153 |  |  |  | 1,479,149 |
Treasury stock, at cost (10,334,963 shares at December 31, 2019, and 9,324,369 shares at December 31, 2018) |  |  | (318,538 | ) |  |  | (282,237 | )
Total stockholders' equity |  |  | 2,294,283 |  |  |  | 2,121,866 |
Total liabilities and stockholders' equity |  | $ | 2,434,348 |  |  | $ | 2,340,256 |
Condensed Income Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (In thousands) |
Cash dividends from Cathay Bank and Far East National Bank |  | $ | 238,998 |  |  | $ | 127,825 |  |  | $ | 265,207 |
Interest income |  |  | 90 |  |  |  | 57 |  |  |  | 221 |
Interest expense |  |  | 8,415 |  |  |  | 9,813 |  |  |  | 7,637 |
Non-interest income/(loss) |  |  | 4,634 |  |  |  | (1,940 | ) |  |  | 1,909 |
Gain from acquisition. |  |  | — |  |  |  | 340 |  |  |  | 5,628 |
Non-interest expense |  |  | 3,491 |  |  |  | 3,782 |  |  |  | 6,726 |
Income before income tax benefit |  |  | 231,816 |  |  |  | 112,687 |  |  |  | 258,602 |
Income tax benefit |  |  | (2,459 | ) |  |  | (4,971 | ) |  |  | (5,687 | )
Income before undistributed earnings of subsidiaries |  |  | 234,275 |  |  |  | 117,658 |  |  |  | 264,289 |
Undistributed earnings of subsidiary |  |  | 44,860 |  |  |  | 154,227 |  |  |  | (88,247 | )
Net income |  | $ | 279,135 |  |  | $ | 271,885 |  |  | $ | 176,042 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 279,135 |  |  | $ | 271,885 |  |  | $ | 176,042 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (44,860 | ) |  |  | (154,227 | ) |  |  | 88,247 |
(Gain)/loss on equity securities |  |  | (4,414 | ) |  |  | 2,242 |  |  |  | — |
Write-downs on venture capital and other investments |  |  | 105 |  |  |  | 271 |  |  |  | 254 |
Loss/(gain) in fair value of warrants |  |  | 145 |  |  |  | (93 | ) |  |  | (12 | )
Stock issued to directors as compensation |  |  | 749 |  |  |  | 649 |  |  |  | 550 |
Net change in other assets |  |  | 125 |  |  |  | 915 |  |  |  | 3,490 |
Gain from acquisition |  |  | — |  |  |  | (340 | ) |  |  | (5,628 | )
Net change in other liabilities |  |  | (832 | ) |  |  | (1,375 | ) |  |  | 5,949 |
Net cash provided by operating activities |  |  | 230,153 |  |  |  | 119,927 |  |  |  | 268,892 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
(Increase)/decrease in short-term investment |  |  | — |  |  |  | (1 | ) |  |  | (2 | )
Proceeds from sale of equity securities |  |  | 2,829 |  |  |  | — |  |  |  | 12,580 |
Purchase of available-for-sale securities |  |  | — |  |  |  | — |  |  |  | (2,759 | )
Venture capital and other investments |  |  | 399 |  |  |  | 150 |  |  |  | 671 |
Acquisitions, net of cash acquired |  |  | — |  |  |  | — |  |  |  | (275,328 | )
Net cash provided by/(used in) investment activities |  |  | 3,228 |  |  |  | 149 |  |  |  | (264,838 | )
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Repayment of long-term debt |  |  | (81,065 | ) |  |  | (21,633 | ) |  |  | — |
Proceeds of issuance of long-term debt |  |  | — |  |  |  | — |  |  |  | 75,000 |
Cash dividends |  |  | (99,131 | ) |  |  | (83,428 | ) |  |  | (69,888 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 3,366 |  |  |  | 2,821 |  |  |  | 2,528 |
Proceeds from exercise of stock options |  |  | — |  |  |  | 838 |  |  |  | 1,094 |
Taxes paid related to net share settlement of RSUs |  |  | (2,311 | ) |  |  | (3,550 | ) |  |  | (5,128 | )
Purchase of treasury stock |  |  | (36,301 | ) |  |  | (42,648 | ) |  |  | — |
Net cash (used in)/provided by financing activities |  |  | (215,442 | ) |  |  | (147,600 | ) |  |  | 3,606 |
(Decrease)/Increase in cash and cash equivalents |  |  | 17,939 |  |  |  | (27,524 | ) |  |  | 7,660 |
Cash and cash equivalents, beginning of the year |  |  | 21,627 |  |  |  | 49,151 |  |  |  | 41,491 |
Cash and cash equivalents, end of the year |  | $ | 39,566 |  |  | $ | 21,627 |  |  | $ | 49,151 |

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