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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE COMPARISON

 

In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

 

 

  

 

  

 

      

 

  

Average

  

Average

  

Value of Initial Fixed $100

Investment Based On 4/:

  

 

  

 

  
Year  

Summary

Compensation

Table Total for

Pin Tai 1/
($)

  

Summary

Compensation

Table Total for

Chang M. Liu 1/
($)

  

Compensation

Actually Paid to

Pin Tai 1/ 2/ 3/
($)

  

Compensation

Actually Paid to

Chang M. Liu1/ 2/ 3/
($)

  

Summary

Compensation

Table Total for

Non-PEO NEOs 1/
($)

  

Compensation

Actually Paid to

Non-PEO NEOs

1/ 2/ 3/
($)

  

CATY

TSR
($)

  

Peer

TSR

($)

  

CATY

Net Income
($ million)

  

CATY

EPS 5/

  

2024

  

—

  

3,687,873

  

—

  

3,532,289

  

1,528,120

  

1,471,332

  

149.39

  

123.76

  

286.0

  

$3.97

  

2023

  

—

  

3,543,757

  

—

  

4,169,394

  

1,629,791

  

1,906,249

  

135.42

  

89.01

  

354.1

  

$4.88

  

2022

  

—

  

3,620,254

  

—

  

4,756,329

  

1,746,558

  

2,274,679

  

119.36

  

89.54

  

360.6

  

$4.85

  

2021

  

—

  

2,997,876

  

—

  

4,940,132

  

1,747,604

  

3,007,660

  

121.91

  

115.39

  

298.3

  

$3.81

  

2020

  

742,264

  

2,110,001

  

132,941

  

2,908,613

  

1,348,043

  

1,428,722

  

  88.48

  

74.84

  

228.9

  

$2.88

  

 

1/

Pin Tai was our PEO from October 2016 to September 2020. Chang M. Liu has been our PEO since September 2020. The individuals comprising the Non-PEO NEOs for each year presented are listed below.

 

2020 – 2023

    

2024

Heng W. Chen

    

Heng W. Chen

Dunson K. Cheng

    

Dunson K. Cheng

Kim R. Bingham

    

  

Kim R. Bingham

Mark H. Lee

    

Albert Sun

 

2/

The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.

 

3/

Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values as of each measurement date were determined using valuation assumptions and methodologies that are generally consistent with those used currently by the Company to estimate fair value at grant in accordance with FASB ASC Topic 718. For market-based restricted stock units, equity values were estimated using a Monte Carlo simulation model, using assumptions that are consistent with those used at grant. For other performance-based awards, the equity values reflect the probable outcome of the performance vesting conditions as of the last day of the applicable fiscal year. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.
       
PEO Total Compensation Amount $ 3,687,873 $ 3,543,757 $ 3,620,254 $ 2,997,876 $ 2,110,001
PEO Actually Paid Compensation Amount $ 3,532,289 4,169,394 4,756,329 4,940,132 2,908,613
Adjustment To PEO Compensation, Footnote

Year

  

Summary Compensation

Table Total for Chang M. Liu
($)

    

Exclusion of Stock Awards

for Chang M. Liu
($)

    

Inclusion of Equity Values

for Chang M. Liu
($)

    

Compensation Actually Paid

to Chang M. Liu
($)

  

2024

   3,687,873     (1,901,973)     1,746,389     3,532,289  

 

 

Year

  

Average Summary

Compensation Table Total

for Non-PEO NEOs
($)

    

Average Exclusion of

Stock Awards

for Non-PEO NEOs
($)

    

Average Inclusion of

Equity Values

for Non-PEO NEOs
($)

    

Average Compensation

Actually Paid

to Non-PEO NEOs
($)

  

2024

   1,528,120     (671,685)     614,897     1,471,332  

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

Year

  

Year-End Fair Value of

Equity Awards Granted

During Year That

Remained Unvested as

of Last Day of Year for

Chang M. Liu
($)

    

Change in Fair Value

from Last Day of Prior

Year to Last Day of

Year of Unvested

Equity Awards for

Chang M. Liu
($)

    

Change in Fair Value

from Last Day of Prior

Year to Vesting Date of

Unvested Equity

Awards that Vested

During Year for

Chang M. Liu
($)

    

Fair Value at Last Day

of Prior Year of Equity

Awards Forfeited

During Year for

Chang M. Liu
($)

    

Total – Inclusion of
Equity Values for

Chang M. Liu
($)

  

2024

   2,599,620     (477,933)     (375,298)     —     1,746,389  

 

 

Year

  

Average Year-End

Fair Value of Equity

Awards Granted

During Year That

Remained Unvested as

of Last Day of Year for

Non-PEO NEOs
($)

    

Average Change in

Fair Value from

Last Day of Prior Year

to Last Day of Year of

Unvested

Equity Awards for

Non-PEO NEOs
($)

    

Average Change in

Fair Value from Last

Day of Prior Year to

Vesting Date of

Unvested Equity

Awards that Vested

During Year for

Non-PEO NEOs
($)

    

Average Fair Value at

Last Day of Prior Year

of Equity Awards

Forfeited

During Year for

Non-PEO NEOs
($)

    

Total – Average

Inclusion of
Equity Values for

Non-PEO NEOs
($)

  

2024

   918,052     (163,512)     (139,643)     —     614,897  

 

 

4/

The Peer Group TSR set forth in this table utilizes the S&P U.S. BMI Banks - Western Region Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the S&P U.S. BMI Banks - Western Region Index, respectively, with all dividends, if any, being re-invested. Historical stock performance is not necessarily indicative of future stock performance.

 

5/

We determined Earnings Per Share (“EPS”) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2024. This performance measure may not have been the most important financial performance measure for prior years, and we may determine a different financial performance measure to be the most important financial performance measure in future years.

 

 

        
Non-PEO NEO Average Total Compensation Amount $ 1,528,120 1,629,791 1,746,558 1,747,604 1,348,043
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,471,332 1,906,249 2,274,679 3,007,660 1,428,722
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between PEO and Non-PEO NEO Compensation

Actually Paid and Total Shareholder Return (“TSR”)

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and the cumulative TSR over the five most recently completed fiscal years for the Company. The chart also compares the Company’s TSR to that of the S&P U.S. BMI Banks - Western Region Index over the same period.

 

vstsr.jpg
        
Compensation Actually Paid vs. Net Income

Relationship Between PEO and Non-PEO NEO

Compensation Actually Paid and Net Income

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and our net income during the five most recently completed fiscal years.

 

vs_netincome.jpg

 

        
Compensation Actually Paid vs. Company Selected Measure

Relationship Between PEO and Non-PEO NEO Compensation

Actually Paid and Earnings Per Share

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Earnings Per Share during the five most recently completed fiscal years.

 

eps.jpg

 

        
Tabular List, Table

Financial Performance Measures

 

The four most important financial performance measures used by the Company to link executive compensation actually paid to our PEO and Non-PEO NEOs for 2024 to the Company’s performance are listed below. The measures in this list are not ranked.

 

 

●

Earnings per share

 

 

●

Earnings per share measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)

 

 

●

Relative total shareholder return measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)

 

 

●

Relative return on assets measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)
       
Total Shareholder Return Amount $ 149.39 135.42 119.36 121.91 88.48
Peer Group Total Shareholder Return Amount 123.76 89.01 89.54 115.39 74.84
Net Income (Loss) $ 286,000,000 $ 354,100,000 $ 360,600,000 $ 298,300,000 $ 228,900,000
Company Selected Measure Amount 3.97 4.88 4.85 3.81 2.88
Measure:: 1          
Pay vs Performance Disclosure          
Name Earnings per share        
Measure:: 2          
Pay vs Performance Disclosure          
Name Earnings per share measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)        
Measure:: 3          
Pay vs Performance Disclosure          
Name Relative total shareholder return measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)        
Measure:: 4          
Pay vs Performance Disclosure          
Name Relative return on assets measured over a three-year performance period (as further described in the Compensation Discussion and Analysis)        
Exclusion of Stock Awards for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (1,901,973)        
Inclusion of Equity Values for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,746,389        
Average Exclusion of Stock Awards for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (671,685)        
Average Inclusion of Equity Values for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 614,897        
Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,599,620        
Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (477,933)        
Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (375,298)        
Fair Value At Last Day Of Prior Year Of Equity Awards Forfeited During Year For Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Total Inclusion of Equity Values for Current PEO [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,746,389        
Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 918,052        
Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (163,512)        
Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (139,643)        
Average Fair Value At Last Day Of Prior Year Of Equity Awards Forfeited During Year For Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Total Average Inclusion of Equity Values for Non-PEO NEOs [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 614,897        
Former PEO [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount 0 $ 0 $ 0 $ 0 $ 742,264
PEO Actually Paid Compensation Amount $ 0 $ 0 $ 0 $ 0 $ 132,941