Cathay General Bancorp Q1 Profit Declines - Quick Facts

(RTTNews) - Cathay General Bancorp (CATY) reported first quarter earnings per share of $0.59 compared to $0.83, prior year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.67, for the quarter. Analysts' estimates typically exclude special items.

First quarter net interest income before provision for credit losses decreased 2.1%, to $140.3 million from a year ago. The company said the decrease was due primarily to an increase in interest expense from time deposits, and a decrease in interest income from loans and securities. Non-interest income was $5.8 million, a decrease of 55.0% year-on-year. Analysts expected revenue of $146.24 million for the quarter.