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Note 21 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands, except |
|  | share and per share data) |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 24,262 |  |  | $ | 14,902 |
Short-term certificates of deposit |  |  | 335 |  |  |  | 334 |
Equity securities |  |  | 34,441 |  |  |  | 16,360 |
Investment in Cathay Bank subsidiary |  |  | 2,806,467 |  |  |  | 2,566,266 |
Investment in non-bank subsidiary |  |  | 68 |  |  |  | 764 |
Other assets |  |  | 3,896 |  |  |  | 4,385 |
Total assets |  | $ | 2,869,469 |  |  | $ | 2,603,011 |
Liabilities |  |  |  |  |  |  |  |
Junior subordinated debt |  | $ | 119,136 |  |  | $ | 119,136 |
Other liabilities |  |  | 13,758 |  |  |  | 9,835 |
Total liabilities |  |  | 132,894 |  |  |  | 128,971 |
Commitments and contingencies |  |  | — |  |  |  | — |
Stockholders' equity |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 100,000,000 shares authorized, 91,392,480 issued and 72,668,927 outstanding at December 31, 2023, and 91,090,614 issued and 72,742,151 outstanding at December 31, 2022 |  |  | 914 |  |  |  | 911 |
Additional paid-in-capital |  |  | 987,953 |  |  |  | 981,119 |
Accumulated other comprehensive loss, net |  |  | (85,416 | ) |  |  | (102,295 | )
Retained earnings |  |  | 2,500,341 |  |  |  | 2,244,855 |
Treasury stock, at cost (18,723,553 shares at December 31, 2023, and 18,348,463 shares at December 31, 2022) |  |  | (667,217 | ) |  |  | (650,550 | )
Total equity |  |  | 2,736,575 |  |  |  | 2,474,040 |
Total liabilities and equity |  | $ | 2,869,469 |  |  | $ | 2,603,011 |
Condensed Income Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (In thousands) |
Cash dividends from Cathay Bank |  | $ | 134,000 |  |  | $ | 232,773 |  |  | $ | 230,000 |
Interest income |  |  | 44 |  |  |  | 30 |  |  |  | 36 |
Interest expense |  |  | 6,480 |  |  |  | 5,560 |  |  |  | 5,773 |
Non-interest Income |  |  | 17,757 |  |  |  | 1,018 |  |  |  | 3,117 |
Non-interest expense |  |  | 4,065 |  |  |  | 3,937 |  |  |  | 3,224 |
Income before income tax expense |  |  | 141,256 |  |  |  | 224,324 |  |  |  | 224,156 |
Income tax expense/(benefit) |  |  | 1,707 |  |  |  | (2,885 | ) |  |  | (1,810 | )
Income before undistributed earnings of subsidiaries |  |  | 139,549 |  |  |  | 227,209 |  |  |  | 225,966 |
Undistributed earnings of subsidiary |  |  | 214,575 |  |  |  | 133,433 |  |  |  | 72,338 |
Net income |  | $ | 354,124 |  |  | $ | 360,642 |  |  | $ | 298,304 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (In thousands) |
Cash flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 354,124 |  |  | $ | 360,642 |  |  | $ | 298,304 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (214,575 | ) |  |  | (133,433 | ) |  |  | (72,338 | )
Gain on equity securities |  |  | (17,977 | ) |  |  | (733 | ) |  |  | (122 | )
Write-downs on venture capital and other investments |  |  | 179 |  |  |  | 268 |  |  |  | 73 |
Loss/(gain) in fair value of warrants |  |  | 50 |  |  |  | (27 | ) |  |  | — |
Stock issued to directors as compensation |  |  | 850 |  |  |  | 849 |  |  |  | 850 |
Net change in accrued interest receivable and other assets |  |  | 5,216 |  |  |  | (434 | ) |  |  | 1,918 |
Net change in other liabilities |  |  | (2,371 | ) |  |  | 8,531 |  |  |  | 4,934 |
Net cash provided by operating activities |  |  | 125,496 |  |  |  | 235,663 |  |  |  | 233,619 |
Cash flows from Investment Activities |  |  |  |  |  |  |  |  |  |  |  |
Venture capital and other investments |  |  | 168 |  |  |  | (5 | ) |  |  | 357 |
Net cash (used)/provided by investment activities |  |  | 168 |  |  |  | (5 | ) |  |  | 357 |
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid |  |  | (98,638 | ) |  |  | (100,955 | ) |  |  | (99,322 | )
Proceeds from shares issued under the Dividend Reinvestment Plan |  |  | 3,491 |  |  |  | 3,720 |  |  |  | 3,563 |
Taxes paid related to net share settlement of RSUs |  |  | (4,490 | ) |  |  | (2,905 | ) |  |  | (2,632 | )
Purchase of treasury stock |  |  | (16,667 | ) |  |  | (141,316 | ) |  |  | (167,104 | )
Net cash used in financing activities |  |  | (116,304 | ) |  |  | (241,456 | ) |  |  | (265,495 | )
Increase/(decrease) in cash, cash equivalents and restricted cash |  |  | 9,360 |  |  |  | (5,798 | ) |  |  | (31,519 | )
Cash, cash equivalents, and restricted cash, beginning of the year |  |  | 14,902 |  |  |  | 20,700 |  |  |  | 52,219 |
Cash, cash equivalents, and restricted cash, end of the period |  | $ | 24,262 |  |  | $ | 14,902 |  |  | $ | 20,700 |

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