Net interest income has recovered to $194.2 million in 2026Q1 from a 2024Q2 trough of $165.3 million, yet the net interest margin remains stubbornly flat at 0.8%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 759.99M | 742.46M | 674.05M | 741.75M | 733.7M | 597.75M | 552.11M | 574.91M | 565.9M | 495.71M | 417.87M | 379.74M | 342.78M | 324.7M | 321.25M | 313.69M | 297.91M | 282.69M | 293.53M | 309.52M | 279.28M | 240.38M | 214.82M | 127.12M | 104.14M | 93.2M | 90.4M | 75.6M | 66.1M | 61.1M | 46.9M |
| NII Growth % | 45.66% | 10.15% | -9.13% | 1.1% | 22.74% | 8.27% | -3.97% | 1.59% | 14.16% | 18.63% | 10.04% | 10.78% | 5.57% | 1.07% | 2.41% | 5.3% | 5.38% | -3.69% | -5.17% | 10.83% | 16.18% | 11.9% | 68.99% | 22.06% | 11.74% | 3.1% | 19.57% | 14.37% | 8.18% | 30.28% | 4.45% |
| Net Interest Margin % | 3.16% | 3.06% | 2.92% | 3.21% | 3.34% | 2.86% | 2.9% | 3.18% | 3.37% | 3.17% | 2.88% | 2.87% | 2.98% | 2.95% | 3% | 2.95% | 2.76% | 2.44% | 2.53% | 2.98% | 3.48% | 3.76% | 3.52% | 2.29% | 3.78% | 3.8% | 4.1% | 3.79% | 3.71% | 3.77% | 3.12% |
| Interest Income | 1.31B | 1.31B | 1.33B | 1.24B | 851.28M | 666.51M | 700.57M | 769.27M | 687.96M | 576.15M | 499.07M | 453.71M | 418.65M | 407M | 429.74M | 453.57M | 489.59M | 528.73M | 588.33M | 615.27M | 491.52M | 350.66M | 274.98M | 167.27M | 144.06M | 159.35M | 164.55M | 133M | 123.3M | 112M | 86.1M |
| Interest Expense | 552.79M | 566.8M | 660.92M | 500.48M | 117.58M | 68.76M | 148.46M | 194.36M | 122.06M | 80.44M | 81.2M | 73.96M | 75.87M | 82.3M | 108.49M | 139.88M | 191.69M | 246.04M | 294.8M | 305.75M | 212.24M | 110.28M | 60.16M | 40.15M | 39.92M | 66.15M | 74.16M | 57.4M | 57.2M | 50.9M | 39.2M |
| Loan Loss Provision | 58.12M | 55.43M | 37.5M | 25.98M | 14.54M | -16.01M | 57.5M | -7M | -4.5M | -2.5M | -15.65M | -11.4M | -10.8M | -3M | -9M | 27M | 156.9M | 307M | 106.7M | 11M | 2M | -500K | 0 | 7.15M | 6M | 6.37M | 4.2M | 4.2M | 3.6M | 3.6M | 3.6M |
| Non-Interest Income | 67.61M | 75.43M | 55.66M | 68.29M | 56.81M | 54.6M | 42.82M | 44.75M | 31.37M | 30.67M | 33.37M | 32.67M | 40.53M | 60.31M | 46.51M | 50.89M | 32.25M | 78.65M | 20.53M | 27.49M | 21.46M | 22.49M | 16.27M | 22.99M | 16.17M | 14.78M | 12.76M | 8.9M | 8.1M | 6.8M | 5.9M |
| Non-Interest Income % | 4.9% | 5.45% | 4% | 5.21% | 6.26% | 7.57% | 5.76% | 5.5% | 4.36% | 5.05% | 6.27% | 6.72% | 8.83% | 12.91% | 9.77% | 10.09% | 6.18% | 12.95% | 3.37% | 4.28% | 4.18% | 6.03% | 5.58% | 12.09% | 10.09% | 8.49% | 7.19% | 6.27% | 6.16% | 5.72% | 6.41% |
| Total Revenue | 1.38B | 1.38B | 1.39B | 1.31B | 908.1M | 721.11M | 743.39M | 814.02M | 719.32M | 606.82M | 532.44M | 486.38M | 459.17M | 467.3M | 476.25M | 504.46M | 521.85M | 607.38M | 608.86M | 642.76M | 512.98M | 373.15M | 291.24M | 190.26M | 160.23M | 174.13M | 177.31M | 141.9M | 131.4M | 118.8M | 92M |
| Revenue Growth % | -0.46% | -0.43% | 6.11% | 44.31% | 25.93% | -3% | -8.68% | 13.16% | 18.54% | 13.97% | 9.47% | 5.92% | -1.74% | -1.88% | -5.59% | -3.33% | -14.08% | -0.24% | -5.27% | 25.3% | 37.47% | 28.12% | 53.08% | 18.74% | -7.98% | -1.79% | 24.95% | 7.99% | 10.61% | 29.13% | 11.65% |
| Non-Interest Expense | 338.81M | 355.06M | 374.68M | 380.48M | 303.43M | 286.52M | 283.46M | 277.29M | 264.08M | 230.57M | 224.69M | 202.72M | 174.31M | 193.83M | 192.59M | 185.57M | 175.71M | 183.04M | 136.68M | 129.35M | 113.92M | 96.89M | 90.66M | 55.14M | 43.32M | 40.16M | 38.5M | 30.3M | 30M | 31M | 28.1M |
| Efficiency Ratio | 24.54% | 25.64% | 26.94% | 29.03% | 33.41% | 39.73% | 38.13% | 34.06% | 36.71% | 38% | 42.2% | 41.68% | 37.96% | 41.48% | 40.44% | 36.78% | 33.67% | 30.14% | 22.45% | 20.12% | 22.21% | 25.96% | 31.13% | 28.98% | 27.03% | 23.07% | 21.72% | 21.35% | 22.83% | 26.09% | 30.54% |
| Operating Income | 430.67M | 407.4M | 317.54M | 403.58M | 472.54M | 381.84M | 253.97M | 349.37M | 337.69M | 298.31M | 242.2M | 221.1M | 219.79M | 194.17M | 184.17M | 152.02M | -2.45M | -128.69M | 70.68M | 196.66M | 184.83M | 166.48M | 140.42M | 87.82M | 71M | 61.44M | 60.45M | 50M | 40.6M | 33.3M | 21.1M |
| Operating Margin % | 31.2% | 29.42% | 22.83% | 30.8% | 52.04% | 52.95% | 34.16% | 42.92% | 46.95% | 49.16% | 45.49% | 45.46% | 47.87% | 41.55% | 38.67% | 30.13% | -0.47% | -21.19% | 11.61% | 30.6% | 36.03% | 44.62% | 48.21% | 46.16% | 44.31% | 35.28% | 34.09% | 35.24% | 30.9% | 28.03% | 22.93% |
| Operating Income Growth % | - | 28.3% | -21.32% | -14.59% | 23.75% | 50.35% | -27.31% | 3.46% | 13.2% | 23.17% | 9.55% | 0.59% | 13.2% | 5.43% | 21.15% | 6294.62% | 98.09% | -282.08% | -64.06% | 6.4% | 11.02% | 18.56% | 59.89% | 23.7% | 15.55% | 1.64% | 20.9% | 23.15% | 21.92% | 57.82% | 30.25% |
| Pretax Income | 413.46M | 390.2M | 317.54M | 403.58M | 472.54M | 381.84M | 253.97M | 349.37M | 337.69M | 298.31M | 242.2M | 221.1M | 219.79M | 194.17M | 184.17M | 152.02M | -2.45M | -128.69M | 70.68M | 196.66M | 184.83M | 166.48M | 140.42M | 87.82M | 71M | 61.44M | 60.45M | 50M | 40.6M | 33.3M | 21.1M |
| Pretax Margin % | 29.95% | 28.18% | 22.83% | 30.8% | 52.04% | 52.95% | 34.16% | 42.92% | 46.95% | 49.16% | 45.49% | 45.46% | 47.87% | 41.55% | 38.67% | 30.13% | -0.47% | -21.19% | 11.61% | 30.6% | 36.03% | 44.62% | 48.21% | 46.16% | 44.31% | 35.28% | 34.09% | 35.24% | 30.9% | 28.03% | 22.93% |
| Income Tax | 80.96M | 75.07M | 31.56M | 49.46M | 111.89M | 83.54M | 25.11M | 70.23M | 65.8M | 122.27M | 67.1M | 59.99M | 81.97M | 70.44M | 66.13M | 51.26M | -14.63M | -61.91M | 19.55M | 71.19M | 67.26M | 62.39M | 53.61M | 32.25M | 22.3M | 18.82M | 21.86M | 19.7M | 16M | 13.2M | 7.8M |
| Effective Tax Rate % | 19.58% | 19.24% | 9.94% | 12.25% | 23.68% | 21.88% | 9.89% | 20.1% | 19.49% | 40.99% | 27.7% | 27.13% | 37.29% | 36.27% | 35.91% | 33.72% | 596.13% | 48.11% | 27.67% | 36.2% | 36.39% | 37.48% | 38.18% | 36.72% | 31.4% | 30.63% | 36.17% | 39.4% | 39.41% | 39.64% | 36.97% |
| Net Income | 332.5M | 315.12M | 285.98M | 354.12M | 360.64M | 298.3M | 228.86M | 279.13M | 271.88M | 176.04M | 175.1M | 161.11M | 137.83M | 123.14M | 117.44M | 100.15M | 11.56M | -67.39M | 50.52M | 125.47M | 117.57M | 104.09M | 86.81M | 55.57M | 48.7M | 42.62M | 38.59M | 30.3M | 24.6M | 20.1M | 13.3M |
| Net Margin % | 24.09% | 22.76% | 20.56% | 27.02% | 39.71% | 41.37% | 30.79% | 34.29% | 37.8% | 29.01% | 32.89% | 33.12% | 30.02% | 26.35% | 24.66% | 19.85% | 2.22% | -11.1% | 8.3% | 19.52% | 22.92% | 27.9% | 29.81% | 29.21% | 30.39% | 24.48% | 21.76% | 21.35% | 18.72% | 16.92% | 14.46% |
| Net Income Growth % | 17.06% | 10.19% | -19.24% | -1.81% | 20.9% | 30.34% | -18.01% | 2.67% | 54.44% | 0.54% | 8.68% | 16.89% | 11.93% | 4.86% | 17.26% | 765.97% | 117.16% | -233.39% | -59.73% | 6.72% | 12.95% | 19.9% | 56.22% | 14.11% | 14.27% | 10.45% | 27.35% | 23.17% | 22.39% | 51.13% | 25.47% |
| Net Income (Continuing) | 332.5M | 315.12M | 285.98M | 354.12M | 360.64M | 298.3M | 228.86M | 279.13M | 271.88M | 176.04M | 175.1M | 161.11M | 137.83M | 123.73M | 118.04M | 100.75M | 12.18M | -66.78M | 51.12M | 125.47M | 117.57M | 104.09M | 86.81M | 55.57M | 48.7M | 42.62M | 38.59M | 30.3M | 24.6M | 20.1M | 13.3M |
| EPS (Diluted) | 4.93 | 4.54 | 3.95 | 4.86 | 4.83 | 3.80 | 2.87 | 3.48 | 3.34 | 2.17 | 2.19 | 1.98 | 1.72 | 1.43 | 1.28 | 1.06 | -0.06 | -1.59 | 1.00 | 2.46 | 2.27 | 2.05 | 1.72 | 1.43 | 1.35 | 1.18 | 1.06 | 0.84 | 0.69 | 0.56 | 0.42 |
| EPS Growth % | 22.47% | 14.94% | -18.72% | 0.62% | 27.11% | 32.4% | -17.53% | 4.19% | 53.92% | -0.91% | 10.61% | 15.12% | 20.28% | 11.72% | 20.75% | 1866.67% | 96.23% | -259% | -59.35% | 8.37% | 10.73% | 19.19% | 20.28% | 5.93% | 14.41% | 11.32% | 26.19% | 21.74% | 23.21% | 33.33% | 23.53% |
| EPS (Basic) | - | 4.57 | 3.97 | 4.88 | 4.85 | 3.81 | 2.88 | 3.49 | 3.35 | 2.19 | 2.21 | 2.00 | 1.73 | 1.44 | 1.28 | 1.06 | -0.06 | -1.59 | 1.00 | 2.49 | 2.29 | 2.07 | 1.74 | 1.44 | 1.36 | 1.18 | 1.07 | 0.84 | 0.69 | 0.56 | 0.42 |
| Diluted Shares Outstanding | 67.39M | 67.99M | 72.33M | 72.86M | 74.67M | 78.57M | 79.78M | 80.25M | 81.61M | 81M | 79.93M | 81.3M | 80.11M | 79.14M | 78.72M | 78.64M | 77.07M | 52.63M | 49.53M | 50.98M | 51.8M | 50.82M | 50.48M | 39.04M | 36.23M | 36.33M | 36.3M | 36.07M | 35.87M | 35.58M | 32.07M |
CRE Concentration and Credit Quality
According to the provided quarterly financial data, CATY's net interest income has demonstrated a recovery trend, reaching $194.2 million in 2026Q1, which represents a notable improvement from the $165.3 million trough observed in 2024Q2 as the bank navigates shifting interest rate environments.
The recent expansion in NII suggests that the bank has successfully managed its deposit beta despite a competitive funding landscape. Investors should monitor whether this growth trajectory remains sustainable if loan demand in the core SME segment softens further.
As reported in the bank's financial statements, the net interest margin has remained stagnant at 0.8% over the last ten quarters, indicating that the institution is struggling to expand its spread between asset yields and funding costs in the current rate cycle.
This lack of margin expansion suggests that the bank's cost of funds is rising in lockstep with its interest-earning assets. The persistence of this 0.8% NIM warrants further investigation into the bank's ability to reprice its commercial real estate loan portfolio effectively.
Based on the reported figures, CATY maintained an efficiency ratio of 21.3% in 2026Q1, which appears to be a significant improvement from the 31.0% peak observed in 2023Q4, suggesting a disciplined approach to managing non-interest expenses relative to total revenue generation.
The downward trend in the efficiency ratio implies that management is successfully controlling overhead costs despite the inflationary environment. This operational leverage may provide a necessary buffer for earnings if revenue growth continues to face headwinds from broader economic volatility.
As indicated by the quarterly data, provision expenses have fluctuated significantly, peaking at $28.7 million in 2025Q3 before moderating to $18.2 million in 2026Q1, which may indicate management's evolving assessment of credit risk within the bank's concentrated commercial real estate loan book.
The variability in provision expense suggests that the bank is actively adjusting its allowance for credit losses to account for potential deterioration in its CRE portfolio. Investors should monitor these provisions closely as they serve as a primary indicator of the bank's internal credit quality expectations.
Quick answers to the most common questions about buying CATY stock.
Cathay General Bancorp (CATY) is profitable, generating $315.1M in net income for the fiscal year ending 2025 with a net profit margin of 22.8%.
Cathay General Bancorp (CATY) reported an operating income of $407.4M, resulting in an operating profit margin of 29.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Cathay General Bancorp (CATY) generated $762.5M in gross profit for the year, representing a gross profit margin of 55.1%. This demonstrates the company's core pricing power and production efficiency.