Cathay General Bancorp
Cathay General Bancorp (NASDAQ: CATY) is the holding company for Cathay Bank, founded in 1962 as the first Chinese-American-owned bank in the U.S., operating 60+ branches across nine states plus Hong Kong, serving small-to-medium businesses, consumers, and Asian-American customers with full-service commercial, retail, and cross-border banking.
- Company typePublic
- Founded1962
- HeadquartersLos Angeles, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Cathay General Bancorp does
Cathay General Bancorp (NASDAQ: CATY) is a Los Angeles-headquartered bank holding company whose principal subsidiary is Cathay Bank, founded in 1962 as the first Chinese-American-owned bank in the United States. The company operates more than 60 branches across nine U.S. states — California, New York, Illinois, Washington, Texas, Maryland, Massachusetts, Nevada, and New Jersey — supplemented by a Hong Kong branch and representative offices in Beijing, Shanghai, and Taipei. Its primary customers are small-to-medium businesses and individual consumers, with a particular focus on Asian-American and immigrant communities requiring cross-border banking services.
The company offers a full-service banking platform spanning personal banking (checking, savings, money market, CDs, IRAs, mortgages, home equity, credit cards), commercial banking (business checking, treasury management, SBA lending, CRE and C&I lending, specialty and law firm banking), international banking (FX, foreign currency accounts, cross-border wires), and wealth management. Digital delivery runs through Cathay Online Banking and the Cathay Bank Mobile Banking App for iOS and Android, secured with RSA-2048 encryption and step-up authentication, with third-party integrations including Zelle, Autobooks, MyCorporation, and SavvyMoney. The technology stack is conventional rather than differentiated, with security certifications including CCPA compliance, DMARC, and BIMI email authentication.
Revenue is generated through net interest income on a diversified loan and securities portfolio plus noninterest income from deposit fees, wire transfers, FX services, and wealth management. Growth has been driven by an M&A-led strategy, including the 2017 acquisition of Far East National Bank from SinoPac Bancorp for approximately $351.6M and the 2022 acquisition of HSBC's West Coast retail operations adding 10 branches. The company is publicly traded on NASDAQ, has paid dividends for 35 consecutive years, and runs an active capital return program with successive $150M share repurchase authorizations.
Cathay General Bancorp firmographics
Firmographics- Name
- Cathay General Bancorp
- Legal name
- Cathay General Bancorp
- Website
- https://cathaygeneralbancorp.com
- Company type
- Public
- Founded year
- 1962
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Cathay General Bancorp (NASDAQ: CATY) is the holding company for Cathay Bank, founded in 1962 as the first Chinese-American-owned bank in the U.S., operating 60+ branches across nine states plus Hong Kong, serving small-to-medium businesses, consumers, and Asian-American customers with full-service commercial, retail, and cross-border banking.
- Ownership category
- akta.pro rank
Cathay General Bancorp industry classification
Industry- Product category
- Commercial and Retail Banking
- NAICS
- Offices of Bank Holding Companies (551111), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL)
Keywords
Where Cathay General Bancorp is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Cathay General Bancorp business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Net Interest Income: Interest income from loan portfolio including commercial real estate, commercial & industrial, and consumer loans, offset by deposit costs. Primary revenue driver representing the spread between interest earned on loans and paid on deposits.
- Noninterest Income: Fees from deposit accounts, wire transfers, foreign exchange services, wealth management, and other banking services
- Dividend Reinvestment Plan Administration: The company offers a Dividend Reinvestment and Stock Purchase Plan providing reinvestment of cash dividends and optional cash purchases of additional shares
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Dividend per share of $0.38 |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Cathay General Bancorp product offering
Product offeringCore offering
Cathay General Bancorp (NASDAQ: CATY) is the holding company for Cathay Bank, a California state-chartered bank founded in 1962. The company provides a comprehensive suite of retail and commercial banking products including deposit accounts, mortgage loans, commercial lending, treasury management, wealth management, international banking, and foreign exchange services, distributed through over 60 branches in nine U.S. states, a Hong Kong branch, and digital banking channels.
Product overview
Cathay General Bancorp (NASDAQ: CATY) operates as the holding company for Cathay Bank, a California state-chartered bank founded in 1962 as the first Chinese-American-owned bank in the United States. The company offers a comprehensive suite of banking products and services through multiple channels including online banking, mobile banking, and over 60 branch locations across nine U.S. states plus Hong Kong. The product portfolio includes personal banking (checking, savings, CDs, IRAs, mortgages, home equity lines, credit cards), business banking (checking, savings, money market accounts, treasury management, commercial lending, SBA programs), and wealth management services. Digital banking is delivered through Cathay Online Banking and the Cathay Bank Mobile Banking App, with specialty services including law firm banking, international banking through a Hong Kong branch, and foreign exchange services. The company also maintains a Dividend Reinvestment and Stock Purchase Plan for stockholders. The bank's digital ecosystem integrates third-party services including Zelle® for P2P payments, SavvyMoney® for credit monitoring, and business services through Autobooks and MyCorporation.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Tiered personal checking account products including basic Everyday Checking with no minimum balance, interest-bearing ValuePlus Checking, Student Advantage Checking for young adults, and Cathay Teen Banking for teenagers with parental monitoring.
- Personal Savings Accounts Personal savings products including Passbook Savings with a physical passbook for transaction tracking, Statement Savings with periodic statements, and Student Savings designed for young adults building savings habits.
- Money Market Accounts Tiered money market accounts including Smart Money Market offering competitive interest rates with limited check-writing privileges and Optima Money Market for customers with larger balances.
- Certificates of Deposit (CDs) Term deposit accounts offering fixed interest rates for specified periods, available for both personal and business customers.
- Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional, Roth, and SIMPLE IRA options for individual retirement planning.
- Home Mortgage Loans Residential mortgage products including purchase and refinance loans for primary residences, second homes, and investment properties.
- Home Equity Line of Credit Revolving credit line secured by home equity, allowing homeowners to access funds for major expenses.
- Credit Cards Credit card products offered for both personal and business customers.
- Business Checking Accounts Business checking account products including Advanced Business Checking with enhanced features for growing businesses, Commercial Analysis Checking with cash flow analysis tools, and Business Interest Checking for higher-balance accounts.
- Business Savings and Money Market Accounts Business Savings accounts for operating reserves and excess cash, and Business Money Market accounts offering competitive yields with limited liquidity.
- Treasury Management Services Comprehensive cash management solutions including information and funds management, receivables and collections, payables and disbursements, and fraud prevention for business clients.
- Commercial Real Estate & Construction Lending Financing for commercial real estate acquisitions, development, and construction projects.
- Commercial & Industrial Lending Loans for commercial and industrial businesses for working capital, equipment, and expansion needs.
- SBA Loan Programs Small Business Administration loan programs including SBA 504 and SBA 7(a) loans for qualifying small businesses.
- Specialty Lending and Business Banking Loans Specialized commercial lending solutions including Professional Loans, Smart Loans, and Smart Micro Loans for small businesses with unique borrowing needs.
- International Banking & Financing Services for customers with international banking needs including foreign currency exchange and international wire transfers.
- Foreign Exchange Services FX trading, foreign currency accounts, foreign currency remittance, exchange risk management, and foreign currency cash exchange services.
- Hong Kong Branch Services Full-service banking branch in Hong Kong serving international customers and cross-border banking needs.
- Wealth Management Comprehensive wealth management services including financial planning, insurance, annuities, mutual funds, investment IRAs, and advisory services.
- Law Firm Banking Specialized banking services tailored for legal practices including IOLTA trust accounts and attorney-client relationship management.
- Bank@Work Banking services program bringing banking solutions to employers for their employees through workplace partnerships.
- Cathay Online Banking Digital banking platform enabling customers to manage accounts, pay bills, transfer funds, and access eStatements online with full-service functionality available 24/7.
- Cathay Bank Mobile Banking App Mobile banking application for iPhone, iPad, and Android devices enabling customers to manage finances on the go with features including mobile deposits, account access, and bill pay.
- Dividend Reinvestment and Stock Purchase Plan (DRIP) Stockholder program allowing common shareholders to automatically reinvest cash dividends and make optional cash purchases of additional shares without brokerage commissions or service charges.
Companies that use Cathay General Bancorp
Customer profileSegments3 records
Ideal customer profiles3 records
Cathay General Bancorp technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
Cathay General Bancorp partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- Pacific BMWminorPlatinum sponsor of Cathay Bank's 49th Annual Charity Golf Tournament, contributing to $200,000 raised for local nonprofits.
- CohnReznickminorJade sponsor of Cathay Bank's 49th Annual Charity Golf Tournament.
- KTCminorJade sponsor of Cathay Bank's 49th Annual Charity Golf Tournament.
- Million Dollar BabyminorJade sponsor of Cathay Bank's 49th Annual Charity Golf Tournament.
- HSBCcoreCathay Bank acquired HSBC's West Coast retail operations including 10 branches and select West Coast loans and deposits in 2021, completing the acquisition in February 2022. This acquisition expanded Cathay Bank's presence on the West Coast.
- SinoPac BancorpcoreCathay General Bancorp completed the acquisition of Far East National Bank from SinoPac Bancorp for approximately $351.6 million. The merger between Cathay Bank and Far East National Bank was completed in October 2017.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Cathay General Bancorp competitors and assessment
Company assessmentDirect peers
- East West Bank: The largest Asian-American focused U.S. bank with a similar niche strategy of serving Chinese-American and broader Asian-American communities with full-service commercial and retail banking. Operates in California and key Asian-American population centers, making it the closest direct competitor to Cathay.
- Bank of Hope: Korean-American focused regional bank that expanded into broader Asian-American banking with the Wilshire Bancorp and BBCN mergers. Targets multicultural communities with comparable deposit, lending, and treasury management products in similar geographies.
- Hanmi Financial: Korean-American focused regional bank with commercial lending and SBA programs serving multicultural small businesses across California and other states. Comparable size and customer profile to Cathay in the Asian-American community banking segment.
- Banc of California: California-headquartered commercial bank offering business banking, commercial real estate lending, and treasury management with similar SMB and CRE focus. Direct competitor in Cathay's core California market for SMB deposits and loans.
Broad incumbents
- Pacific Premier Bancorp: West Coast regional bank with comparable commercial banking, CRE lending, and SMB focus. Larger and more diversified than Cathay but competes directly in California, Washington, and other shared markets for similar customer segments.
- CVB Financial: California-based bank holding company for Citizens Business Bank, focused on commercial banking, treasury management, and SBA lending for small-to-medium businesses. Similar SMB-targeted commercial banking model and California footprint.
- Bank of Hawaii: Pacific regional bank with strong commercial banking, consumer banking, and wealth management franchises. Comparable diversified community-bank model with international banking capabilities, though focused on Hawaii rather than Asian-American mainland markets.
- U.S. Bancorp: Large U.S. bank holding company with significant presence in California and other Cathay markets, offering competing commercial, retail, and digital banking products. National scale and digital investment represent competitive threat in shared SMB and consumer segments.
Regional players
- First Hawaiian Bank: Hawaii-focused bank with Asia-Pacific trade and commercial banking ties, comparable in its bridging of U.S. and Asian banking markets. Different primary geography but similar niche in serving customers with cross-border Asia-U.S. banking needs.
- Bank of Communications (Hong Kong Branch): Major Chinese state-owned commercial bank with international banking capabilities, including Hong Kong operations. Competes with Cathay's Hong Kong branch for cross-border China-Hong Kong-U.S. banking customers and trade-related finance.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cathay General Bancorp social profiles
Digital presenceCathay General Bancorp compliance and trust
Trust signalCompliance4 records
Cathay General Bancorp financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cathay General Bancorp leadership team
Management profileNumber of profiles
Profiles10 records
Cathay General Bancorp subsidiaries and ownership
Company hierarchySubsidiaries3 records
Cathay General Bancorp funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cathay General Bancorp M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cathay General Bancorp
What does Cathay General Bancorp do?
Cathay General Bancorp (NASDAQ: CATY) is the holding company for Cathay Bank, a California state-chartered bank founded in 1962. The company provides a comprehensive suite of retail and commercial banking products including deposit accounts, mortgage loans, commercial lending, treasury management, wealth management, international banking, and foreign exchange services, distributed through over 60 branches in nine U.S. states, a Hong Kong branch, and digital banking channels.
Is Cathay General Bancorp a public or private company?
Cathay General Bancorp is a public company. It is classified as public and is currently operating.
When was Cathay General Bancorp founded?
Cathay General Bancorp was founded in 1962. It employs 1,001 to 5,000 people.
Where is Cathay General Bancorp based?
Cathay General Bancorp is headquartered in Los Angeles, United States, in the North America region.
How does Cathay General Bancorp make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are noninterest Income and dividend Reinvestment Plan Administration.
Who are Cathay General Bancorp's main competitors?
Direct peers on record are East West Bank, Bank of Hope, Hanmi Financial and Banc of California. Broad incumbents are Pacific Premier Bancorp, CVB Financial, Bank of Hawaii and U.S. Bancorp. Regional players are First Hawaiian Bank and Bank of Communications (Hong Kong Branch).
Does Cathay General Bancorp have an API?
No public API is recorded for Cathay General Bancorp.
What industry is Cathay General Bancorp in?
Cathay General Bancorp's product category is Commercial and Retail Banking. Its primary akta.pro industry code is FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 551111 and its SIC code is 6022.