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Note 20 - Condensed Financial Information of Cathay General Bancorp (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Condensed Balance Sheet [Table Text Block]

		*As of December 31,*
		*2024*				*2023*
(In thousands, except
		share and per share data)
Assets
Cash		$	50,174			$	24,262
Short-term certificates of deposit			336				335
Equity securities			25,171				34,441
Investment in Cathay Bank subsidiary			2,898,510				2,806,467
Investment in non-bank subsidiary			68				68
Other assets			3,747				3,896
Total assets		$	2,978,006			$	2,869,469
Liabilities
Junior subordinated debt		$	119,136			$	119,136
Other liabilities			13,166				13,758
Total liabilities			132,302				132,894
Commitments and contingencies			—				—
Stockholders' equity
Common stock, $0.01 par value, 100,000,000 shares authorized, 91,615,458 issued and 70,863,324 outstanding at December 31, 2024, and 91,392,480 issued and 72,688,927 outstanding at December 31, 2023			916				914
Additional paid-in-capital			993,962				987,953
Accumulated other comprehensive loss, net			(85,607	)			(85,416	)
Retained earnings			2,688,353				2,500,341
Treasury stock, at cost (20,752,134 shares at December 31, 2024, and 18,723,553 shares at December 31, 2023)			(751,920	)			(667,217	)
Total equity			2,845,704				2,736,575
Total liabilities and equity		$	2,978,006			$	2,869,469

Condensed Income Statement [Table Text Block]

		*Year Ended December 31,*
		*2024*				*2023*				*2022*
		(In thousands)
Cash dividends from Cathay Bank		$	216,000			$	134,000			$	232,773
Interest income			19				44				30
Interest expense			8,129				6,480				5,560
Non-interest (loss)/income			(9,371	)			17,757				1,018
Non-interest expense			3,742				4,065				3,937
Income before income tax expense			194,777				141,256				224,324
Income tax (benefit)/expense			(5,695	)			1,707				(2,885	)
Income before undistributed earnings of subsidiaries			200,472				139,549				227,209
Undistributed earnings of subsidiary			85,507				214,575				133,433
Net income		$	285,979			$	354,124			$	360,642

Condensed Cash Flow Statement [Table Text Block]

		*Year Ended December 31,*
		*2024*				*2023*				*2022*
		(In thousands)
Cash flows from Operating Activities
Net income		$	285,979			$	354,124			$	360,642
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries			(85,507	)			(214,575	)			(133,433	)
Loss/(gain) on equity securities			9,271				(17,977	)			(733	)
Write-downs on venture capital and other investments			148				179				268
Loss/(gain) in fair value of warrants			—				50				(27	)
Stock issued to directors as compensation			850				850				849
Net change in accrued interest receivable and other assets			(2,350	)			5,216				(434	)
Net change in other liabilities			980				(2,371	)			8,531
Net cash provided by operating activities			209,371				125,496				235,663

Cash flows from Investment Activities
Venture capital and other investments			4				168				(5	)
Net cash provided/(used) by investment activities			4				168				(5	)

Cash flows from Financing Activities
Cash dividends paid			(97,967	)			(98,638	)			(100,955	)
Proceeds from shares issued under the Dividend Reinvestment Plan			2,933				3,491				3,720
Taxes paid related to net share settlement of RSUs			(3,726	)			(4,490	)			(2,905	)
Purchase of treasury stock			(84,703	)			(16,667	)			(141,316	)
Net cash used in financing activities			(183,463	)			(116,304	)			(241,456	)
Increase/(decrease) in cash, cash equivalents and restricted cash			25,912				9,360				(5,798	)
Cash, cash equivalents, and restricted cash, beginning of the year			24,262				14,902				20,700
Cash, cash equivalents, and restricted cash, end of the period		$	50,174			$	24,262			$	14,902