Net interest income expanded to $211.9M in Q3 2026 with a stable net interest margin near 0.8 percent, while volatile fee income ranging from $3.4M to $42.8M and erratic provisioning suggest earnings quality remains uneven.
Cathay General Bancorp (CATY) annual income statement — 30-year revenue, gross profit & net income history
| 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 | 801.96M | 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 % | 46.57% | 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 % | 3.14% | 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 | 1.33B | 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 | 526.31M | 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 | 58.03M | 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 | 95.38M | 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 % | 10.63% | 9.22% | 7.63% | 8.43% | 7.19% | 8.37% | 7.2% | 7.22% | 5.25% | 5.83% | 7.4% | 7.92% | 10.57% | 15.66% | 12.65% | 13.96% | 9.77% | 21.77% | 6.54% | 8.16% | 7.14% | 8.55% | 7.04% | 15.32% | 13.44% | 13.69% | 12.37% | 10.53% | 10.92% | 10.01% | 11.17% |
| Total Net Revenue | 897.33M | 817.89M | 729.72M | 810.04M | 790.51M | 652.36M | 594.93M | 619.66M | 597.27M | 526.38M | 451.24M | 412.42M | 383.31M | 385M | 367.76M | 364.58M | 330.16M | 361.35M | 314.05M | 337.01M | 300.75M | 262.87M | 231.08M | 150.11M | 120.31M | 107.98M | 103.15M | 84.5M | 74.2M | 67.9M | 52.8M |
| Revenue Growth % | 14.81% | 12.08% | -9.92% | 2.47% | 21.18% | 9.65% | -3.99% | 3.75% | 13.47% | 16.65% | 9.41% | 7.59% | -0.44% | 4.69% | 0.87% | 10.43% | -8.63% | 15.06% | -6.81% | 12.06% | 14.41% | 13.76% | 53.94% | 24.77% | 11.42% | 4.68% | 22.07% | 13.88% | 9.28% | 28.6% | 3.33% |
| Non-Interest Expense | 349.22M | 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 | 38.92% | 43.41% | 51.35% | 46.97% | 38.38% | 43.92% | 47.65% | 44.75% | 44.21% | 43.8% | 49.79% | 49.15% | 45.48% | 50.35% | 52.37% | 50.9% | 53.22% | 50.65% | 43.52% | 38.38% | 37.88% | 36.86% | 39.23% | 36.73% | 36% | 37.2% | 37.33% | 35.86% | 40.43% | 45.66% | 53.22% |
| Operating Income | 490.08M | 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 % | 54.62% | 49.81% | 43.52% | 49.82% | 59.78% | 58.53% | 42.69% | 56.38% | 56.54% | 56.67% | 53.67% | 53.61% | 57.34% | 50.43% | 50.08% | 41.7% | -0.74% | -35.61% | 22.51% | 58.35% | 61.46% | 63.33% | 60.77% | 58.5% | 59.01% | 56.9% | 58.6% | 59.17% | 54.72% | 49.04% | 39.96% |
| 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 | 464.85M | 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 % | 51.8% | 47.71% | 43.52% | 49.82% | 59.78% | 58.53% | 42.69% | 56.38% | 56.54% | 56.67% | 53.67% | 53.61% | 57.34% | 50.43% | 50.08% | 41.7% | -0.74% | -35.61% | 22.51% | 58.35% | 61.46% | 63.33% | 60.77% | 58.5% | 59.01% | 56.9% | 58.6% | 59.17% | 54.72% | 49.04% | 39.96% |
| Income Tax | 100.06M | 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 % | 21.53% | 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 | 364.79M | 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 % | 40.65% | 38.53% | 39.19% | 43.72% | 45.62% | 45.73% | 38.47% | 45.05% | 45.52% | 33.44% | 38.8% | 39.06% | 35.96% | 31.98% | 31.93% | 27.47% | 3.5% | -18.65% | 16.09% | 37.23% | 39.09% | 39.6% | 37.57% | 37.02% | 40.48% | 39.47% | 37.41% | 35.86% | 33.15% | 29.6% | 25.19% |
| Net Income Growth % | 19.68% | 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) | 364.79M | 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) | 5.46 | 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 % | 25.17% | 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 | 66.76M | 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 |
Quick answers to the most common questions about buying CATY stock.
For fiscal year 2025, Cathay General Bancorp (CATY) reported total revenue of $817.9M. This represents a 1449.0% increase compared to $52.8M in 1996.
Cathay General Bancorp (CATY) is profitable, generating $315.1M in net income for the fiscal year ending 2025 with a net profit margin of 38.5%.
Cathay General Bancorp (CATY) reported an operating income of $407.4M, resulting in an operating profit margin of 49.8%. 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 93.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Credit provisioning and CRE concentration
Metrics are mathematically derived from official filings.
Net Interest Income Rebuilding Steadily
Based on CATY's reported figures, net interest income rose from $165.3M in Q2 2024 to $211.9M in Q3 2026, a gain of roughly 28 percent that reflects loan and deposit growth alongside margin stabilization.
The climb in NII after several quarters of year-over-year declines suggests the bank has largely absorbed the earlier deposit repricing pressure and is now growing earning assets faster than funding costs. The 11.8 percent NII growth rate in Q3 2026 indicates momentum, though the source data does not separate volume from rate effects, so the relative contribution of each remains unclear. Investors should monitor whether this trajectory holds if deposit betas rise again.
Net Interest Margin Holding Near Eight-Tenths
As reported in financial statements, CATY's net interest margin has held at approximately 0.8 percent across the last ten quarters, implying a stable spread between asset yields and funding costs despite a shifting rate backdrop.
A flat reported NIM alongside rising NII points to balance sheet growth doing the heavy lifting rather than spread expansion. Management's characterization of margin expansion is not clearly supported by the rounded figures in the data, which warrants checking the unrounded NIM in the filing. Peer NIM comparisons are not available in the supplied dataset, limiting conclusions about relative positioning.
Efficiency Ratio Improving but Still Elevated
Based on EDBL-style reporting conventions applied to CATY's figures, the efficiency ratio fell from 55.6 percent in Q2 2024 to 40.6 percent in Q3 2026, indicating meaningful operating leverage as revenue outpaced non-interest expense.
The compression in the efficiency ratio is a constructive signal that the bank is converting revenue growth into profit more effectively than during 2024. Operating income, however, has been roughly flat in the most recent quarters, which suggests that cost or provision items may be absorbing part of the benefit. Whether the efficiency gains are durable depends on expense discipline that the source data does not fully isolate.
Provisioning Volatility Clouds Earnings Visibility
According to recent SEC filings, CATY's provision expense swung from zero in Q4 2025 to $28.6M in Q3 2026, a pattern that signals meaningful sensitivity in its credit loss estimates under the CECL framework.
The irregular provision series, including a $28.7M charge in Q3 2025 and a zero charge in Q4 2025, suggests that reserve builds are driven by discrete macro or portfolio judgments rather than a smooth run-rate. Given the bank's heavy commercial real estate exposure, these swings may reflect evolving office and property valuations. Investors should monitor reserve coverage and charge-off trends, as the Q3 2026 EPS shortfall may be partly attributable to this line.
Fee Income Lumpy and Less Recurring
Based on CATY's reported figures, non-interest income fluctuated from $3.4M in Q1 2026 to $42.8M in Q3 2026, equal to between 1.7 and 16.8 percent of total revenue, indicating a fee base that is volatile rather than recurring.
The wide swings in fee income suggest that CATY's non-interest revenue depends on episodic items such as trade finance activity or securities-related gains rather than steady wealth or deposit service fees. This variability reduces the predictability of total revenue and makes the bank more reliant on NII. The source data does not break down fee composition, so the quality of this income cannot be fully assessed.
Earnings Conversion Lags Revenue Growth
As reported in financial statements, CATY posted 12.1 percent revenue growth alongside an EPS miss against $1.52 consensus, with ROE near 10.9 percent suggesting that top-line expansion is not fully converting into shareholder returns.
The gap between revenue expansion and the EPS shortfall challenges the narrative of franchise momentum, since the earnings line is absorbing costs or provisions that the headline growth does not reveal. If the miss stems from elevated expenses or credit charges, the earnings path could remain under pressure despite balance sheet growth. Analysts should treat management's constructive framing with caution until the expense and provision drivers are verified in the filing.