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Company Description

Contact Info

777 North Broadway

Los Angeles, CA 90012

United States

Phone: 213-625-4700


Cathay General Bancorp operates as the holding company of Cathay Bank, provides various commercial bank services primarily to individuals, professionals, and small to medium-sized businesses. As of December 31, 2015, the company had 21 branches in Southern California, 12 branches in Northern California, 12 branches in New York State, 1 branch in Massachusetts, 2 branches in Texas, 3 branches in Washington State, 3 branches in Illinois, 1 branch in New Jersey, 1 branch in Maryland, 1 branch in Nevada, 1 branch in Hong Kong and 2 representative offices (1 in Shanghai, China, and 1 in Taipei, Taiwan). The company accepts checking, savings, and time deposits, and makes commercial, real estate, personal, home improvement, automobile, and other installment and term loans. It also provides letters of credit, wire transfers, forward currency spot and forward contracts, traveler’s checks, safe deposit, night deposit, social security payment deposit, collection, bank-by-mail, drive-up and walk-up windows, automatic teller machines, Internet banking services, and other customary bank services. Through Cathay Wealth Management business unit, the company provides its customers the ability to trade securities online and to purchase mutual funds, annuities, equities, bonds, and short-term money market instruments. All securities and insurance products provided by Cathay Wealth Management are offered by, and all Financial Consultants are registered with, Cetera Financial Services, a registered securities broker/dealer and licensed insurance agency and member of the Financial Industry Regulatory Authority and Security Investor Protection Corporation. Cetera Financial Services and the bank are independent entities. Loans The company’s loan originations are obtained through various sources, including existing customers, walk-in customers, referrals from brokers or existing customers, and advertising. Commercial Mortgage Loans: Commercial mortgage loans are secured by first deeds of trust on commercial properties. The company’s commercial mortgage portfolio includes primarily commercial retail properties, shopping centers, and owner-occupied industrial facilities; and secondarily, office buildings, multiple-unit apartments, hotels, and multi-tenanted industrial properties. It also makes medium-term commercial mortgage loans, which are secured by commercial or industrial buildings where the borrower uses the property for business purposes or derives income from tenants. Commercial Loans: The company provides financial services to commercial and professional businesses in its market areas. Commercial loans consist primarily of short-term loans (normally with a maturity of up to one year) to support general business purposes, or to provide working capital to businesses in the form of lines of credit to finance trade. It primarily focuses on commercial lending to small-to-medium size businesses within the company’s geographic market areas. Small Business Administration (SBA) Loans: The company originates U.S. SBA loans under the national ‘preferred lender’ status. As a preferred lender, the company’s SBA Lending Group has the authority to issue, on behalf of the SBA, the SBA guaranty on loans under the 7(a) program which might result in shortening the time it takes to process a loan. In addition, under this program, the SBA delegates loan underwriting, closing, and most servicing and liquidation authority and responsibility to selected lenders. The company utilizes both the 504 program, which is focused on long-term financing of buildings and other long-term fixed assets, and the 7(a) program, which is the SBA’s primary loan program and which could be used for financing of various general business purposes, such as acquisition of land, buildings, equipment and inventory and working capital needs of eligible businesses generally over a 5- to 25-year term. Residential Mortgage Loans: The company originates single-family-residential mortgage loans. The single-family-residential mortgage loans are comprised of conforming, nonconforming, and jumbo residential mortgage loans, and are secured by first or subordinate liens


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Valuation CATY Industry Range
Price/Earnings 15.7x
Price/Sales 5.4x
Price/Book 1.4x
Price/Cash Flow 15.3x
TEV/Sales 2.5x

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