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Note 19 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended
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Dec. 31, 2021
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 19,629 |  |  | $ | 50,060 |
Cash pledged as margin for interest rate swaps |  |  | 1,071 |  |  |  | 2,159 |
Short-term certificates of deposit |  |  | 333 |  |  |  | 332 |
Equity securities |  |  | 15,627 |  |  |  | 15,505 |
Investment in Cathay Bank subsidiary |  |  | 2,530,850 |  |  |  | 2,467,643 |
Investment in non-bank subsidiary |  |  | 807 |  |  |  | 845 |
Other assets |  |  | 4,691 |  |  |  | 6,447 |
Total assets |  | $ | 2,573,008 |  |  | $ | 2,542,991 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 119,136 |
Other liabilities |  |  | 7,621 |  |  |  | 5,711 |
Total liabilities |  |  | 126,757 |  |  |  | 124,847 |
Commitments and contingencies |  |  | — |  |  |  | — |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 90,871,860 issued and 75,750,862 outstanding at December 31, 2021, and 90,643,206 issued and 79,508,265 outstanding at December 31, 2020 |  |  | 909 |  |  |  | 906 |
Additional paid-in-capital |  |  | 972,474 |  |  |  | 964,734 |
Accumulated other comprehensive loss, net |  |  | (3,065 | ) |  |  | 5,310 |
Retained earnings |  |  | 1,985,168 |  |  |  | 1,789,325 |
Treasury stock, at cost (15,120,998 shares at December 31, 2021, and 11,134,941 shares at December 31, 2020) |  |  | (509,235 | ) |  |  | (342,131 | )
Total equity |  |  | 2,446,251 |  |  |  | 2,418,144 |
Total liabilities and equity |  | $ | 2,573,008 |  |  | $ | 2,542,991 |
Condensed Income Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Cash dividends from Cathay Bank |  | $ | 230,000 |  |  | $ | 146,000 |  |  | $ | 238,998 |
Interest income |  |  | 36 |  |  |  | 49 |  |  |  | 90 |
Interest expense |  |  | 5,773 |  |  |  | 5,906 |  |  |  | 8,415 |
Non-interest Income/(loss) |  |  | 3,117 |  |  |  | (435 | ) |  |  | 4,634 |
Non-interest expense |  |  | 3,224 |  |  |  | 4,846 |  |  |  | 3,491 |
Income before income tax expense |  |  | 224,156 |  |  |  | 134,862 |  |  |  | 231,816 |
Income tax expense |  |  | (1,810 | ) |  |  | (3,692 | ) |  |  | (2,459 | )
Income before undistributed earnings of subsidiaries |  |  | 225,966 |  |  |  | 138,554 |  |  |  | 234,275 |
Undistributed earnings of subsidiary |  |  | 72,338 |  |  |  | 90,306 |  |  |  | 44,860 |
Net income |  | $ | 298,304 |  |  | $ | 228,860 |  |  | $ | 279,135 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 298,304 |  |  | $ | 228,860 |  |  | $ | 279,135 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (72,338 | ) |  |  | (90,306 | ) |  |  | (44,860 | )
Loss/(gain) on equity securities |  |  | (122 | ) |  |  | 641 |  |  |  | (4,414 | )
Write-downs on venture capital and other investments |  |  | 73 |  |  |  | 107 |  |  |  | 105 |
Loss in fair value of warrants |  |  | — |  |  |  | 18 |  |  |  | 145 |
Stock issued to directors as compensation |  |  | 850 |  |  |  | 800 |  |  |  | 749 |
Net change in accrued interest receivable and other assets |  |  | 1,918 |  |  |  | (1,182 | ) |  |  | 125 |
Net change in other liabilities |  |  | 4,934 |  |  |  | (9,853 | ) |  |  | (832 | )
Net cash provided by operating activities |  |  | 233,619 |  |  |  | 129,085 |  |  |  | 230,153 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from liquidation of subsidiary |  |  | — |  |  |  | 2,399 |  |  |  | — |
Proceeds from sale of equity securities |  |  | — |  |  |  | 3,112 |  |  |  | 2,829 |
Venture capital and other investments |  |  | 357 |  |  |  | 116 |  |  |  | 399 |
Net cash provided by investment activities |  |  | 357 |  |  |  | 5,627 |  |  |  | 3,228 |
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Repayment of long-term debt |  |  | — |  |  |  | (7,644 | ) |  |  | (81,065 | )
Cash dividends paid |  |  | (99,322 | ) |  |  | (98,688 | ) |  |  | (99,131 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 3,563 |  |  |  | 9,777 |  |  |  | 3,366 |
Taxes paid related to net share settlement of RSUs |  |  | (2,632 | ) |  |  | (1,911 | ) |  |  | (2,311 | )
Purchase of treasury stock |  |  | (167,104 | ) |  |  | (23,593 | ) |  |  | (36,301 | )
Net cash used in financing activities |  |  | (265,495 | ) |  |  | (122,059 | ) |  |  | (215,442 | )
Increase/(decrease) in cash, cash equivalents and restricted cash |  |  | (31,519 | ) |  |  | 12,653 |  |  |  | 17,939 |
Cash, cash equivalents, and restricted cash, beginning of the year |  |  | 52,219 |  |  |  | 39,566 |  |  |  | 21,627 |
Cash, cash equivalents, and restricted cash, end of the period |  | $ | 20,700 |  |  | $ | 52,219 |  |  | $ | 39,566 |

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