Cathay General Bancorp (NASDAQ: CATY) is a bank holding company that operates Cathay Bank, a California state-chartered commercial bank serving Chinese-American individuals and businesses. The company earns income primarily through interest on loans and deposits, with a loan portfolio concentrated in commercial real estate, multifamily residential, construction, commercial, and residential mortgage products. Organized in Delaware in 1990 and headquartered at 777 North Broadway, Los Angeles, California, Cathay General Bancorp had $24.23 billion in total consolidated assets, $19.94 billion in net loans, and $20.89 billion in deposits as of December 31, 2025. The bank holds national SBA preferred lender status and originates loans under both the SBA 7(a) and 504 programs. Operations span California, New York, Texas, Illinois, New Jersey, Nevada, Washington, Maryland, Massachusetts, and Hong Kong. California accounted for 46% and New York 35% of the combined commercial real estate, multifamily, and construction loan portfolio as of December 31, 2025.

Revenue model

Cathay General Bancorp generates revenue primarily through net interest income, the spread between interest earned on loans and securities and interest paid on deposits and borrowings. Additional income comes from fees on loan originations, SBA loan sales in the secondary market, and service charges. The bank funds its loan portfolio largely through customer deposits.

Products and services

Cathay Bank offers commercial real estate loans (retail, multifamily, office, warehouse, industrial, hospitality property types), multifamily residential loans, construction and land loans, commercial loans, residential mortgage loans, equity lines, and SBA 7(a) and 504 loans. The bank also holds securities available-for-sale (amortized cost of $1.74 billion in 2025 and $1.67 billion in 2024) and participates in affordable housing investments and alternative energy partnerships through twelve limited partnerships.

Customers and end markets

The primary customer base is Chinese-American individuals and small to mid-sized businesses. End markets include commercial real estate investment and development, small business lending, residential real estate, and consumer banking. The bank targets markets with concentrations of Chinese-American communities across major U.S. metropolitan areas.

Value-chain role

Cathay General Bancorp operates as a direct lender and deposit-taking institution. It underwrites, originates, and services loans, and sells the guaranteed portions of SBA 7(a) loans into the secondary market. As a preferred SBA lender, it issues SBA guaranties on 7(a) program loans on behalf of the SBA.

Geographic exposure

California is the largest market, representing 46% of the combined commercial real estate, multifamily, and construction loan portfolio as of December 31, 2025, split between Southern California ($3.91 billion) and Northern California ($1.15 billion). New York accounted for 35% ($3.77 billion), Texas 5% ($591 million), Illinois 3% ($298 million), Nevada 2% ($243 million), Washington 2% ($225 million), and New Jersey 2% ($191 million). The bank also has operations in Maryland, Massachusetts, and Hong Kong.

Source: SEC 10-K, filed 2026-03-02

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