Cathay General Bancorp is leaning into rising demand from Asian-American communities and busy urban business hubs, while upgrading its online banking to win more customers and fee income. But its big bet on commercial property loans and a narrow geographic focus could make the bank more vulnerable if the economy or regulation turns against it.Read more
Cathay General Bancorp may have an edge by serving fast-growing Asian American communities and helping businesses move money and do trade between the U.S. and Asia. But the story comes with real worries—from heavy ties to office and other business property loans to falling behind on mobile banking—that could change the outcome.Read more
Cathay General Bancorp’s tight focus on California and Asian-American customers has helped it build loyal relationships, but it also leaves the bank exposed if its core communities and local economy slow down. Growing pressure from app-first rivals and ongoing trouble spots in commercial property could squeeze what the bank earns and make its loans riskier over time.Read more
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Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. It offers savings accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits, and acceptance of checking, savings, demand deposits, time deposits, real estate, and consumer loans. The company also provides loan products, such as commercial real estate loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, and installment loans to individuals for household and other consumer expenditures. In addition, it offers trade financing, letter of credit, wire transfer, foreign currency spot and forward contract, safe deposit, overdraft, cash checking, automatic teller machine, Internet banking, investment, and other customary bank services, as well as investment products and services, such as stocks, bonds, mutual funds, insurance, annuities, and advisory services. The company was formerly known as Cathay Bancorp, Inc. and changed its name to Cathay General Bancorp in November 2003. Cathay General Bancorp was founded in 1962 and is headquartered in Los Angeles, California.
