Cathay General Bancorp Q3 Profit Rises - Quick Facts

(RTTNews) - Cathay General Bancorp (CATY), the holding company for Cathay Bank, reported third-quarter net income to shareholders of $30.0 million or $0.38 per share, compared to $26.2 million or $0.33 per share, last year.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.36 for the quarter. Analysts' estimates typically exclude special items.

Net interest income before provision for credit losses increased to $82.61 million, from $80.42 million prior year. Non-interest income was $16.72 million, compared to $15.62 million, last year. Analysts expected revenue of $94.44 million for the quarter.

The increase in net interest income was due primarily to the decrease in interest expense from time deposits and securities sold under agreements to repurchase offset by the decrease in interest income from investment securities, the company said.