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Note 19 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 50,060 |  |  | $ | 32,468 |
Cash pledged as margin for interest rate swaps |  |  | 2,159 |  |  |  | 7,098 |
Short-term certificates of deposit |  |  | 332 |  |  |  | 330 |
Equity securities |  |  | 15,505 |  |  |  | 19,258 |
Investment in Cathay Bank subsidiary |  |  | 2,467,643 |  |  |  | 2,365,206 |
Investment in non-bank subsidiaries |  |  | 845 |  |  |  | 4,458 |
Other assets |  |  | 6,447 |  |  |  | 5,530 |
Total assets |  | $ | 2,542,991 |  |  | $ | 2,434,348 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 119,136 |
Deferred payments from acquisition |  |  | — |  |  |  | 7,644 |
Other liabilities |  |  | 5,711 |  |  |  | 13,285 |
Total liabilities |  |  | 124,847 |  |  |  | 140,065 |
Commitments and contingencies |  |  | — |  |  |  | — |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 90,643,206 issued and 79,508,265 outstanding at December 31, 2020, and 90,064,382 issued and 79,729,419 outstanding at December 31, 2019 |  |  | 906 |  |  |  | 900 |
Additional paid-in-capital |  |  | 964,734 |  |  |  | 950,466 |
Accumulated other comprehensive loss, net |  |  | 5,310 |  |  |  | 2,302 |
Retained earnings |  |  | 1,789,325 |  |  |  | 1,659,153 |
Treasury stock, at cost (11,134,941 shares at December 31, 2020, and 10,334,963 shares at December 31, 2019) |  |  | (342,131 | ) |  |  | (318,538 | )
Total stockholders' equity |  |  | 2,418,144 |  |  |  | 2,294,283 |
Total liabilities and stockholders' equity |  | $ | 2,542,991 |  |  | $ | 2,434,348 |
Condensed Income Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Cash dividends from Cathay Bank |  | $ | 146,000 |  |  | $ | 238,998 |  |  | $ | 127,825 |
Interest income |  |  | 49 |  |  |  | 90 |  |  |  | 57 |
Interest expense |  |  | 5,906 |  |  |  | 8,415 |  |  |  | 9,813 |
Non-interest (loss)/income |  |  | (435 | ) |  |  | 4,634 |  |  |  | (1,940 | )
Gain from acquisition |  |  | — |  |  |  | — |  |  |  | 340 |
Non-interest expense |  |  | 4,846 |  |  |  | 3,491 |  |  |  | 3,782 |
Income before income tax benefit |  |  | 134,862 |  |  |  | 231,816 |  |  |  | 112,687 |
Income tax benefit |  |  | (3,692 | ) |  |  | (2,459 | ) |  |  | (4,971 | )
Income before undistributed earnings of subsidiaries |  |  | 138,554 |  |  |  | 234,275 |  |  |  | 117,658 |
Undistributed earnings of subsidiary |  |  | 90,306 |  |  |  | 44,860 |  |  |  | 154,227 |
Net income |  | $ | 228,860 |  |  | $ | 279,135 |  |  | $ | 271,885 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 228,860 |  |  | $ | 279,135 |  |  | $ | 271,885 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (90,306 | ) |  |  | (44,860 | ) |  |  | (154,227 | )
Loss/(gain) on equity securities |  |  | 641 |  |  |  | (4,414 | ) |  |  | 2,242 |
Write-downs on venture capital and other investments |  |  | 107 |  |  |  | 105 |  |  |  | 271 |
Loss/(gain) in fair value of warrants |  |  | 18 |  |  |  | 145 |  |  |  | (93 | )
Stock issued to directors as compensation |  |  | 800 |  |  |  | 749 |  |  |  | 649 |
Net change in other assets |  |  | (1,182 | ) |  |  | 125 |  |  |  | 915 |
Gain from acquisition |  |  | — |  |  |  | — |  |  |  | (340 | )
Net change in other liabilities |  |  | (9,853 | ) |  |  | (832 | ) |  |  | (1,375 | )
Net cash provided by operating activities |  |  | 129,085 |  |  |  | 230,153 |  |  |  | 119,927 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
Increase in short-term investment |  |  | — |  |  |  | — |  |  |  | (1 | )
Proceeds from liquidation of subsidiary |  |  | 2,399 |  |  |  | — |  |  |  | — |
Proceeds from sale of equity securities |  |  | 3,112 |  |  |  | 2,829 |  |  |  | — |
Venture capital and other investments |  |  | 116 |  |  |  | 399 |  |  |  | 150 |
Net cash provided by investment activities |  |  | 5,627 |  |  |  | 3,228 |  |  |  | 149 |
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Repayment of long-term debt |  |  | (7,644 | ) |  |  | (81,065 | ) |  |  | (21,633 | )
Cash dividends |  |  | (98,688 | ) |  |  | (99,131 | ) |  |  | (83,428 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 9,777 |  |  |  | 3,366 |  |  |  | 2,821 |
Proceeds from exercise of stock options |  |  | — |  |  |  | — |  |  |  | 838 |
Taxes paid related to net share settlement of RSUs |  |  | (1,911 | ) |  |  | (2,311 | ) |  |  | (3,550 | )
Purchase of treasury stock |  |  | (23,593 | ) |  |  | (36,301 | ) |  |  | (42,648 | )
Net cash used in financing activities |  |  | (122,059 | ) |  |  | (215,442 | ) |  |  | (147,600 | )
Increase/(decrease) in cash and cash equivalents |  |  | 12,653 |  |  |  | 17,939 |  |  |  | (27,524 | )
Cash and cash equivalents, beginning of the year |  |  | 39,566 |  |  |  | 21,627 |  |  |  | 49,151 |
Cash and cash equivalents, end of the year |  | $ | 52,219 |  |  | $ | 39,566 |  |  | $ | 21,627 |

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