Cathay General Bancorp (the "Company", "we", "us", or "our") (NASDAQ:CATY), the holding company for Cathay Bank, today announced its unaudited financial results for the quarter ended September 30, 2025. The Company reported net income of $77.7 million, or $1.13 per diluted share, for the third quarter of 2025.

FINANCIAL PERFORMANCE

	Three months ended
(unaudited)	September 30, 2025	June 30, 2025	September 30, 2024
Net income	$77.7 million	$77.5 million	$ 67.5 million
Basic earnings per common share	$1.13	$1.11	$0.94
Diluted earnings per common share	$1.13	$1.10	$0.94
Return on average assets	1.29%	1.33%	1.15%
Return on average total stockholders' equity	10.60%	10.72%	9.50%
Efficiency ratio	41.84%	45.34%	51.11%

THIRD QUARTER HIGHLIGHTS

Net interest margin increased to 3.31% during the third quarter from 3.27% in the second quarter of 2025.
Total loans, excluding loans held for sale, increased to $20.10 billion, or 1.6%, from $19.78 billion in the second quarter of 2025.
Total deposits increased $514.8 million, or 2.6%, to $20.52 billion in the third quarter of 2025.
Provision for credit losses of $28.7 million for the third quarter of 2025, included an additional reserve of $9.1 million for two movie theatre loans and $3.8 million from a change in the CECL model.

"We are pleased by the continued increase in the net interest margin compared to the second quarter of 2025. During the third quarter, we repurchased 1,070,000 common shares at an average cost of $46.81 per share, for a total of $50.1 million," commented Chang M. Liu, President and Chief Executive Officer of the Company.

INCOME STATEMENT REVIEW

THIRD QUARTER 2025 COMPARED TO THE SECOND QUARTER 2025

Net income for the quarter ended September 30, 2025, was $77.7 million, an increase of $0.2 million, or 0.3%, compared to net income of $77.5 million for the second quarter of 2025. Diluted earnings per share for the third quarter of 2025 was $1.13 per share compared to $1.10 per share for the second quarter of 2025.

Return on average stockholders' equity was 10.60% and return on average assets was 1.29% for the quarter ended September 30, 2025, compared to a return on average stockholders' equity of 10.72% and a return on average assets of 1.33% in the second quarter of 2025.

Net interest income before provision for credit losses

Net interest income before provision for credit losses increased $8.4 million, or 4.6%, to $189.6 million during the third quarter of 2025, compared to $181.2 million in the second quarter of 2025. The increase was due primarily to an increase in interest income from loans and securities offset, in part, by an increase in deposit expense.

The net interest margin was 3.31% for the third quarter of 2025 compared to 3.27% for the second quarter of 2025.

For the third quarter of 2025, the yield on average interest-earning assets was 5.84%, the cost of funds on average interest-bearing liabilities was 3.32%, and the cost of average interest-bearing deposits was 3.28%. In comparison, for the second quarter of 2025, the yield on average interest-earning assets was 5.83%, the cost of funds on average interest-bearing liabilities was 3.37%, and the cost of average interest-bearing deposits was 3.35%. The decrease in the cost of funds on average interest-bearing liabilities resulted mainly from lower interest rates on deposits driven by the lower repricing of maturing time deposits in the third quarter. The increase in the yield on average interest-earning assets resulted mainly from higher interest rates on loans. The net interest spread, defined as the difference between the yield on average interest-earning assets and the cost of funds on average interest-bearing liabilities, was 2.52% for the third quarter of 2025, compared to 2.46% for the second quarter of 2025.

Provision for credit losses

The Company recorded a provision for credit losses of $28.7 million in the third quarter of 2025 compared to $11.2 million in the second quarter of 2025. Provision for credit losses of $28.7 million for the third quarter of 2025 included an additional reserve of $9.1 million for two movie theatre loans and $3.8 million from a change in the CECL model. As of September 30, 2025, the allowance for credit losses increased by $13.1 million to $196.5 million, or 0.98% of gross loans, compared to $183.4 million, or 0.93% of gross loans as of June 30, 2025.

The following table sets forth the charge-offs and recoveries for the periods indicated:

	Three months ended						Nine months ended September 30,
($ In thousands) (Unaudited)	September 30, 2025		June 30, 2025		September 30, 2024		2025		2024

Charge-offs:
Commercial loans	$	16,173	$	9,117	$	2,666	$	27,634	$	12,862
Real estate loans ⁽¹⁾		314		3,913		1,805		4,227		2,059
Installment and other loans		—		—		7		—		7
Total charge-offs		16,487		13,030		4,478		31,861		14,928
Recoveries:
Commercial loans		547		196		88		1,012		1,026
Construction loans		5		—		187		6		561
Real estate loans⁽¹⁾		289		93		1		479		1
Total recoveries		841		289		276		1,497		1,588
Net charge-offs	$	15,646	$	12,741	$	4,202	$	30,364	$	13,340

⁽¹⁾ Real estate loans include commercial real estate loans, residential mortgage loans and equity lines.

Non-interest income

Non-interest income, which includes revenues from depository service fees, letters of credit commissions, securities gains (losses), wealth management fees, and other sources of fee income, was $21.0 million for the third quarter of 2025, an increase of $5.6 million, or 36.4%, compared to $15.4 million for the second quarter of 2025. The increase was primarily due to an increase of $4.7 million in gain on equity securities and an increase of $1.3 million in wealth management fees, when compared to the second quarter of 2025.

Non-interest expense

Non-interest expense decreased $1.0 million, or 1.2%, to $88.1 million in the third quarter of 2025 compared to $89.1 million in the second quarter of 2025. The decrease in non-interest expense in the third quarter of 2025 was primarily due to a decrease of $1.5 million in professional services expense offset, in part, by an increase of $1.0 million in amortization expense of investments in low-income housing and alternative energy partnerships, when compared to the second quarter of 2025. The efficiency ratio, defined as non-interest expense divided by the sum of net interest income before provision for loan losses plus non-interest income, was 41.84% in the third quarter of 2025 compared to 45.34% for the second quarter of 2025.

Income taxes

The effective tax rate for the third quarter of 2025 was 17.18% compared to 19.56% for the second quarter of 2025. The effective tax rate for the second and third quarter of 2025 includes the impact of low-income housing tax credits.

BALANCE SHEET REVIEW

Gross loans, excluding loans held for sale, were $20.10 billion as of September 30, 2025, an increase of $320.0 million, or 1.62%, from $19.78 billion as of June 30, 2025. The increase was primarily due to an increase of $123.0 million, or 2.2%, in residential mortgage loans, $121.8 million, or 1.2%, in commercial real estate loans, $55.1 million, or 18.3%, in construction loans, and $18.2 million, or 0.6%, in commercial loans.

The loan balances and composition as of September 30, 2025, compared to June 30, 2025, and September 30, 2024, are presented below:

($ In thousands) (Unaudited)	September 30, 2025			June 30, 2025			September 30, 2024

Commercial loans	$	3,212,907		$	3,194,724		$	3,106,994
Construction loans		356,215			301,125			307,057
Commercial real estate loans		10,484,939			10,363,109			9,975,272
Residential mortgage loans		5,815,140			5,692,142			5,750,546
Equity lines		232,254			230,001			226,838
Installment and other loans		3,261			3,601			6,886
Gross loans	$	20,104,716		$	19,784,702		$	19,373,593
Allowance for loan losses		(186,647	)		(173,531	)		(163,733	)
Unamortized deferred loan fees		(14,987	)		(13,834	)		(10,505	)
Total loans held for investment, net	$	19,903,082		$	19,597,337		$	19,199,355
Loans held for sale	$	—		$	13,338		$	5,190

Total deposits were $20.52 billion as of September 30, 2025, an increase of $514.8 million, or 2.6%, from $20.01 billion as of June 30, 2025.

The deposit balances and composition as of September 30, 2025, compared to June 30, 2025, and September 30, 2024, are presented below:

($ In thousands) (Unaudited)	September 30, 2025		June 30, 2025		September 30, 2024

Non-interest-bearing demand deposits	$	3,574,567	$	3,381,407	$	3,253,823
NOW deposits		2,226,182		2,174,108		2,093,861
Money market deposits		3,586,301		3,431,060		3,134,460
Savings deposits		1,424,243		1,317,104		1,215,974
Time deposits		9,709,856		9,702,651		10,245,823
Total deposits	$	20,521,149	$	20,006,330	$	19,943,941

ASSET QUALITY REVIEW

As of September 30, 2025, total non-accrual loans were $165.6 million, a decrease of $8.6 million, or 4.9%, from $174.2 million as of June 30, 2025.

The allowance for loan losses was $186.6 million and the allowance for off-balance sheet unfunded credit commitments was $9.9 million as of September 30, 2025. The allowances represent the amount estimated by management to be appropriate to absorb expected credit losses inherent in the loan portfolio, including unfunded credit commitments. The allowance for loan losses represented 0.93% of period-end gross loans, and 112.61% of non-performing loans as of September 30, 2025. The comparable ratios were 0.88% of period-end gross loans, and 96.12% of non-performing loans as of June 30, 2025.

The changes in non-performing assets and loan modifications to borrowers experiencing financial difficulty as of September 30, 2025, compared to June 30, 2025, and September 30, 2024, are presented below:

($ In thousands) (Unaudited)	September 30, 2025			June 30, 2025			% Change	September 30, 2024			% Change
Non-performing assets
Accruing loans past due 90 days or more	$	110		$	6,389		(98)	$	6,931		(98)

Non-accrual loans:
Construction loans		—			4,230		(100)		—		—
Commercial real estate loans		103,158			93,754		10		87,577		18
Commercial loans		33,690			54,536		(38)		52,074		(35)
Residential mortgage loans		28,784			21,633		33		23,183		24
Total non-accrual loans:	$	165,632		$	174,153		(5)	$	162,834		2
Total non-performing loans		165,742			180,542		(8)		169,765		(2)
Other real estate owned		32,983			18,990		74		18,277		80
Total non-performing assets	$	198,725		$	199,532		(0)	$	188,042		6
Accruing loan modifications to borrowers experiencing financial difficulties	$	63,355		$	10,485		504	$	—		—
Allowance for loan losses	$	186,647		$	173,531		8	$	163,733		14
Total gross loans outstanding, at period-end	$	20,104,716		$	19,784,702		2	$	19,373,593		4
Allowance for loan losses to non-performing loans, at period-end		112.61	%		96.12	%			96.45	%
Allowance for loan losses to gross loans, at period-end		0.93	%		0.88	%			0.85	%

The ratio of non-performing assets to total assets was 0.83% as of September 30, 2025, compared to 0.84% as of June 30, 2025. Total non-performing assets increased $0.8 million, or 0.4%, to $198.7 million as of September 30, 2025, compared to $199.5 million as of June 30, 2025, primarily due to an increase of $14.0 million, or 73.7%, in other real estate owned, offset, in part, by a decrease of $6.3 million, or 98.3%, in accruing loans past due 90 days or more and a decrease of $8.5 million, or 4.9%, in non-accrual loans.

CAPITAL ADEQUACY REVIEW

As of September 30, 2025, the Company's Tier 1 risk-based capital ratio of 13.15%, total risk-based capital ratio of 14.76%, and Tier 1 leverage capital ratio of 10.88%, calculated under the Basel III capital rules, continue to place the Company in the "well capitalized" category for regulatory purposes, which is defined as institutions with a Tier 1 risk-based capital ratio equal to or greater than 8%, a total risk-based capital ratio equal to or greater than 10%, and a Tier 1 leverage capital ratio equal to or greater than 5%. As of June 30, 2025, the Company's Tier 1 risk-based capital ratio was 13.35%, total risk-based capital ratio was 14.92%, and Tier 1 leverage capital ratio was 11.09%.

YEAR-TO-DATE REVIEW

Net income for the nine months ending September 30, 2025, was $224.6 million, an increase of $18.8 million, or 9.1%, compared to net income of $205.8 million for the same period a year ago. Diluted earnings per share for the nine months ending September 30, 2025, was $3.21 per share compared to $2.83 per share for the same period a year ago. The net interest margin for the nine months ended September 30, 2025, was 3.28% compared to 3.03% for the same period a year ago.

Return on average stockholders' equity was 10.39% and return on average assets was 1.28% for the nine months ended September 30, 2025, compared to a return on average stockholders' equity of 9.84% and a return on average assets of 1.18% for the same period a year ago. The efficiency ratio for the nine months ended September 30, 2025, was 44.18% compared to 53.28% for the same period a year ago.

CONFERENCE CALL

Cathay General Bancorp will host a conference call to discuss its third quarter 2025 financial results this afternoon, Tuesday, October 21, 2025, at 3:00 p.m., Pacific Time. Analysts and investors may dial in and participate in the question-and-answer session. To access the call, please dial 1-833-816-1377 and enter Conference ID 10203604. The presentation accompanying this call and access to the live webcast is available on our site at www.cathaygeneralbancorp.com and a replay of the webcast will be archived for one year within 24 hours after the event.

ABOUT CATHAY GENERAL BANCORP

Cathay General Bancorp is a publicly traded company (NASDAQ:CATY) and is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services and currently operate over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. Overseas, it has a branch outlet in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. To learn more about Cathay Bank, please visit www.cathaybank.com. Cathay General Bancorp's website is at www.cathaygeneralbancorp.com. Information set forth on such websites is not incorporated into this press release.

FORWARD-LOOKING STATEMENTS

Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management's beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as "aims," "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "hopes," "intends," "may," "plans," "projects," "predicts," "potential," "possible," "optimistic," "seeks," "shall," "should," "will," and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions of management and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising from local, regional, national and international business, market and economic conditions and events, the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors and the impact they may have on us, our customers and our operations, assets and liabilities; possible additional provisions for loan losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to including potential future supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation; higher capital requirements from the implementation of the Basel III capital standards; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; our ability to generate anticipated returns on our investments and financings, including in tax-advantaged projects; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; natural disasters, public health crises and geopolitical events; general economic or business conditions in Asia, and other regions where Cathay Bank has operations; failures, interruptions, or security breaches of our information systems; our ability to adapt our systems to technological changes; risk management processes and strategies; adverse results in legal proceedings; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in accounting standards or tax laws and regulations; market disruption and volatility; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuance of preferred stock; successfully raising additional capital, if needed, and the resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; and general competitive, economic political, and market conditions and fluctuations.

These and other factors are further described in Cathay General Bancorp's Annual Report on Form 10-K for the year ended December 31, 2024 (Item 1A in particular), other reports filed with the Securities and Exchange Commission ("SEC"), and other filings Cathay General Bancorp makes with the SEC from time to time. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we undertake no obligation to update or review any forward-looking statement to reflect circumstances, developments or events occurring after the date on which the statement is made or to reflect the occurrence of unanticipated events.

CATHAY GENERAL BANCORP CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

	Three months ended									Nine months ended September 30,
($ In thousands, except per share data)	September 30, 2025			June 30, 2025			September 30, 2024			2025			2024

Financial performance
Net interest income before provision for credit losses	$	189,587		$	181,221		$	169,155		$	547,447		$	503,043
Provision for credit losses		28,731			11,200			14,500			55,431			23,000
Net interest income after provision for credit losses		160,856			170,021			154,655			492,016			480,043
Non-interest income		21,021			15,391			20,365			47,616			40,191
Non-interest expense		88,117			89,134			96,867			262,907			289,458
Income before income tax expense		93,760			96,278			78,153			276,725			230,776
Income tax expense		16,109			18,828			10,639			52,118			24,998
Net income	$	77,651		$	77,450		$	67,514		$	224,607		$	205,778

Net income per common share:
Basic	$	1.13		$	1.11		$	0.94		$	3.22		$	2.84
Diluted	$	1.13		$	1.10		$	0.94		$	3.21		$	2.83
Cash dividends paid per common share	$	0.34		$	0.34		$	0.34		$	1.02		$	1.02


Selected ratios
Return on average assets		1.29	%		1.33	%		1.15	%		1.28	%		1.18	%
Return on average total stockholders' equity		10.60	%		10.72	%		9.50	%		10.39	%		9.84	%
Efficiency ratio		41.84	%		45.34	%		51.11	%		44.18	%		53.28	%
Dividend payout ratio		29.93	%		30.79	%		36.04	%		31.59	%		35.87	%


Yield analysis (Fully taxable equivalent)
Total interest-earning assets		5.84	%		5.83	%		6.10	%		5.85	%		6.05	%
Total interest-bearing liabilities		3.32	%		3.37	%		3.99	%		3.38	%		3.95	%
Net interest spread		2.52	%		2.46	%		2.11	%		2.47	%		2.10	%
Net interest margin		3.31	%		3.27	%		3.04	%		3.28	%		3.03	%


Capital ratios	September 30, 2025			June 30, 2025			September 30, 2024
Tier 1 risk-based capital ratio		13.15	%		13.35	%		13.32	%
Total risk-based capital ratio		14.76	%		14.92	%		14.87	%
Tier 1 leverage capital ratio	10.88		%		11.09	%		10.82	%

CATHAY GENERAL BANCORP CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

($ In thousands, except share and per share data)	September 30, 2025			June 30, 2025			September 30, 2024

Assets
Cash and due from banks	$	166,167		$	190,011		$	182,542
Short-term investments and interest bearing deposits		1,141,886			1,056,964			1,156,223
Securities available-for-sale (amortized cost of $1,728,199 at September 30, 2025, $1,746,703 at June 30, 2025 and $1,602,696 at September 30, 2024)		1,643,450			1,648,433			1,508,356
Loans held for sale		—			13,338			5,190
Loans		20,104,716			19,784,702			19,373,593
Less: Allowance for loan losses		(186,647	)		(173,531	)		(163,733	)
Unamortized deferred loan fees, net		(14,987	)		(13,834	)		(10,505	)
Loans, net		19,903,082			19,597,337			19,199,355
Equity securities		32,111			28,849			35,741
Federal Home Loan Bank stock		17,250			17,250			17,250
Other real estate owned, net		32,983			18,990			18,277
Affordable housing investments and alternative energy partnerships, net		292,672			289,550			280,091
Premises and equipment, net		88,552			89,556			89,158
Customers' liability on acceptances		7,730			9,622			12,043
Accrued interest receivable		96,055			96,646			95,351
Goodwill		375,696			375,696			375,696
Other intangible assets, net		2,667			2,888			3,590
Right-of-use assets- operating leases		31,086			32,291			30,543
Other assets		244,257			256,426			265,037
Total assets	$	24,075,644		$	23,723,847		$	23,274,443

Liabilities and Stockholders' Equity
Deposits:
Non-interest-bearing demand deposits	$	3,574,567		$	3,381,407		$	3,253,823
Interest-bearing deposits:
NOW deposits		2,226,182			2,174,108			2,093,861
Money market deposits		3,586,301			3,431,060			3,134,460
Savings deposits		1,424,243			1,317,104			1,215,974
Time deposits		9,709,856			9,702,651			10,245,823
Total deposits		20,521,149			20,006,330			19,943,941

Advances from the Federal Home Loan Bank		190,000			412,000			60,000
Other borrowings for affordable housing investments		17,628			17,652			17,783
Long-term debt		119,136			119,136			119,136
Acceptances outstanding		7,730			9,622			12,043
Lease liabilities - operating leases		33,079			34,304			32,906
Other liabilities		284,646			238,508			258,321
Total liabilities		21,173,368			20,837,552			20,444,130
Stockholders' equity		2,902,276			2,886,295			2,830,313
Total liabilities and equity	$	24,075,644		$	23,723,847		$	23,274,443
Book value per common share	$	42.50		$	41.62		$	39.66
Number of common shares outstanding		68,286,591			69,343,395			71,355,869

CATHAY GENERAL BANCORP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

	Three months ended								Nine months ended September 30,
($ In thousands, except share and per share data)	September 30, 2025			June 30, 2025			September 30, 2024		2025			2024

Interest and Dividend Income
Loan receivable, including loan fees	$	308,945		$	296,857		$	310,311	$	899,786		$	916,175
Investment securities		12,690			13,666			15,125		38,459			45,720
Federal Home Loan Bank stock		376			373			375		1,128			1,305
Deposits with banks		12,184			12,022			13,680		37,135			41,793
Total interest and dividend income		334,195			322,918			339,491		976,508			1,004,993

Interest Expense
Time deposits		93,087			94,364			119,786		283,517			347,408
Other deposits		46,300			44,370			45,918		133,104			133,218
Advances from Federal Home Loan Bank		3,075			742			1,885		5,721			13,517
Long-term debt		2,043			2,029			2,351		6,092			5,935
Short-term borrowings		103			192			396		627			1,872
Total interest expense		144,608			141,697			170,336		429,061			501,950
Net interest income before provision for credit losses		189,587			181,221			169,155		547,447			503,043
Provision for credit losses		28,731			11,200			14,500		55,431			23,000
Net interest income after provision for credit losses		160,856			170,021			154,655		492,016			480,043

Non-Interest Income
Net gain/(losses) from equity securities		3,263			(1,390	)		4,253		(2,318	)		(6,204	)
Debt securities gains, net		—			—			—		—			1,107
Letters of credit commissions		2,256			2,120			2,081		6,467			5,686
Depository service fees		2,011			1,925			1,572		5,688			4,900
Wealth management fees		6,219			4,936			6,545		17,324			17,861
Other operating income		7,272			7,800			5,914		20,455			16,841
Total non-interest income		21,021			15,391			20,365		47,616			40,191

Non-Interest Expense
Salaries and employee benefits		43,462			43,123			40,859		129,012			124,850
Occupancy expense		6,104			5,950			5,938		17,791			17,557
Computer and equipment expense		5,760			5,160			4,753		16,974			15,212
Professional services expense		7,360			8,888			7,021		23,696			22,225
Data processing service expense		3,991			4,631			4,330		13,028			12,136
FDIC and State assessments		2,783			3,177			3,250		9,359			13,081
Marketing expense		1,494			1,113			1,614		4,485			5,002
Other real estate owned (income)/expense		(1,078	)		(377	)		596		(1,211	)		2,331
Amortization of investments in low income housing and alternative energy partnerships		12,149			11,179			24,077		32,382			61,905
Amortization of core deposit intangibles		229			250			250		729			848
Other operating expense		5,863			6,040			4,179		16,662			14,311
Total non-interest expense		88,117			89,134			96,867		262,907			289,458

Income before income tax expense		93,760			96,278			78,153		276,725			230,776
Income tax expense		16,109			18,828			10,639		52,118			24,998
Net income	$	77,651		$	77,450		$	67,514	$	224,607		$	205,778
Net income per common share:
Basic	$	1.13		$	1.11		$	0.94	$	3.22		$	2.84
Diluted	$	1.13		$	1.10		$	0.94	$	3.21		$	2.83
Cash dividends paid per common share	$	0.34		$	0.34		$	0.34	$	1.02		$	1.02
Basic average common shares outstanding		68,727,390			69,989,825			71,786,624		69,692,964			72,370,995
Diluted average common shares outstanding		68,990,648			70,188,902			72,032,456		69,946,877			72,607,550

CATHAY GENERAL BANCORP AVERAGE BALANCES – SELECTED CONSOLIDATED FINANCIAL INFORMATION (Unaudited)

	Three months ended
($ In thousands)(Unaudited)	September 30, 2025			June 30, 2025			September 30, 2024
Interest-earning assets:	Average Balance		Average Yield/Rate ⁽¹⁾	Average Balance		Average Yield/Rate ⁽¹⁾	Average Balance		Average Yield/Rate ⁽¹⁾
Loans ⁽¹⁾	$	19,951,853	6.14%	$	19,489,400	6.11%	$	19,455,521	6.35%
Taxable investment securities		1,634,248	3.08%		1,622,309	3.38%		1,638,414	3.67%
FHLB stock		17,250	8.65%		17,250	8.65%		17,250	8.65%
Deposits with banks		1,113,274	4.34%		1,102,579	4.37%		1,035,534	5.26%
Total interest-earning assets	$	22,716,625	5.84%	$	22,231,538	5.83%	$	22,146,719	6.10%

Interest-bearing liabilities:
Interest-bearing demand deposits	$	2,189,376	1.70%	$	2,133,874	1.71%	$	2,134,807	2.10%
Money market deposits		3,556,374	3.44%		3,464,685	3.44%		3,073,384	3.75%
Savings deposits		1,419,953	1.72%		1,343,043	1.67%		1,212,870	1.85%
Time deposits		9,698,744	3.81%		9,692,056	3.91%		10,250,601	4.65%
Total interest-bearing deposits	$	16,864,447	3.28%	$	16,633,658	3.35%	$	16,671,662	3.95%
Other borrowed funds		295,892	4.26%		103,059	3.63%		186,838	4.86%
Long-term debt		119,136	6.80%		119,136	6.83%		119,136	7.85%
Total interest-bearing liabilities		17,279,475	3.32%		16,855,853	3.37%		16,977,636	3.99%
Non-interest-bearing demand deposits		3,384,141			3,331,433			3,230,150
Total deposits and other borrowed funds	$	20,663,616		$	20,187,286		$	20,207,786
Total average assets	$	23,843,380		$	23,349,928		$	23,353,025
Total average equity	$	2,907,596		$	2,898,960		$	2,828,379

⁽¹⁾ Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.


	Nine months ended
($ In thousands)(Unaudited)	September 30, 2025			September 30, 2024
Interest-earning assets:	Average Balance		Average Yield/Rate ⁽¹⁾	Average Balance		Average Yield/Rate ⁽¹⁾
Loans ⁽¹⁾	$	19,593,553	6.14%	$	19,464,496	6.29%
Taxable investment securities		1,572,074	3.27%		1,647,968	3.71%
FHLB stock		17,250	8.74%		19,162	9.10%
Deposits with banks		1,139,060	4.36%		1,042,413	5.36%
Total interest-earning assets	$	22,321,937	5.85%	$	22,174,039	6.05%

Interest-bearing liabilities:
Interest-bearing demand deposits	$	2,155,336	1.69%	$	2,205,108	2.12%
Money market deposits		3,468,421	3.43%		3,134,940	3.69%
Savings deposits		1,351,352	1.65%		1,099,331	1.42%
Time deposits		9,658,300	3.92%		10,053,062	4.62%
Total interest-bearing deposits	$	16,633,409	3.35%	$	16,492,441	3.89%
Other borrowed funds		204,953	4.14%		383,563	5.36%
Long-term debt		119,136	6.84%		119,136	6.65%
Total interest-bearing liabilities		16,957,498	3.38%		16,995,140	3.95%
Non-interest-bearing demand deposits		3,340,530			3,271,913
Total deposits and other borrowed funds	$	20,298,028		$	20,267,053
Total average assets	$	23,462,799		$	23,380,360
Total average equity	$	2,890,581		$	2,794,384

⁽¹⁾ Yields and interest earned include net loan fees. Non-accrual loans are included in the average balance.

CATHAY GENERAL BANCORP

GAAP to NON-GAAP RECONCILIATION

SELECTED CONSOLIDATED FINANCIAL INFORMATION

(Unaudited)

The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. Tangible equity and tangible equity to tangible assets ratio are non-GAAP financial measures. Tangible equity and tangible assets represent stockholders' equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios is prevalent in the banking industry, and such measures and ratios are used by banking regulators and analysts, the Company has included them below for discussion.

		As of
($ In thousands) (Unaudited)		September 30, 2025			June 30, 2025			September 30, 2024

Stockholders' equity	(a)	$	2,902,276		$	2,886,295		$	2,830,313
Less: Goodwill			(375,696	)		(375,696	)		(375,696	)
Other intangible assets ⁽¹⁾			(2,667	)		(2,888	)		(3,590	)
Tangible equity	(b)	$	2,523,913		$	2,507,711		$	2,451,027

Total assets	(c)	$	24,075,644		$	23,723,847		$	23,274,443
Less: Goodwill			(375,696	)		(375,696	)		(375,696	)
Other intangible assets ⁽¹⁾			(2,667	)		(2,888	)		(3,590	)
Tangible assets	(d)	$	23,697,281		$	23,345,263		$	22,895,157

Number of common shares outstanding	(e)		68,286,591			69,343,395			71,355,869

Total stockholders' equity to total assets ratio	(a)/(c)		12.05	%		12.17	%		12.16	%
Tangible equity to tangible assets ratio	(b)/(d)		10.65	%		10.74	%		10.71	%
Tangible book value per share	(b)/(e)	$	36.96		$	36.16		$	34.35

		Three Months Ended									Nine months ended
($ In thousands) (Unaudited)		September 30, 2025			June 30, 2025			September 30, 2024			September 30, 2025			September 30, 2024

Net Income		$	77,651		$	77,450		$	67,514		$	224,607		$	205,778
Add: Amortization of other intangibles ⁽¹⁾			249			285			264			816			863
Tax effect of amortization adjustments ⁽²⁾			(74	)		(85	)		(78	)		(242	)		(256	)
Tangible net income	(f)	$	77,826		$	77,650		$	67,700		$	225,181		$	206,385

Return on tangible common equity ⁽³⁾	(f)/(b)		12.33	%		12.39	%		11.05	%		11.90	%		11.23	%

⁽¹⁾ Includes core deposit intangibles and mortgage servicing

⁽²⁾Applied the statutory rate of 29.65%.

⁽³⁾ Annualized

View source version on businesswire.com: https://www.businesswire.com/news/home/20251021985516/en/

Heng W. Chen

(626) 279-3652

Cathay General Bancorp Announces Third Quarter 2025 Results