Cathay Bank (the Holding Company Is "Cathay General Bancorp" (NASDAQ: CATY), English: Cathay Bank), Was Founded In 1962 By Wu Pingyuan And Friends In Los Angeles, California (also The Main Headquarters). The First Branch Is In Chinatown. It Was Listed On The Nasdaq Exchange In The Winter Of 1990.
The Chairperson And Former President Is Zheng Jiafa, And It Is Worth Noting That Chen Huifang's Husband Deng Menghui Is The Executive Vice President.
As Of The End Of 2016, Cathay General Bancorp's Total Assets Had Reached 14.50 Billion US Dollars, And The Balance Of Various Deposits Was 11.70 Billion US Dollars; The Balance Of Loans Was 11.20 Billion US Dollars; The Net Surplus For The Whole Year Was 175.11 Million US Dollars, And The Net Profit Per Share Was 2.19 US Dollars. As Of July 2017, Cathay Bank Had More Than 68 Branches In California, New York, Illinois, Washington, Texas, Maryland, Massachusetts, Nevada, And New Jersey, As Well As Branches In Hong Kong And Representative Offices In Taipei And Shanghai.
History
Cathay Bank Began In Chinatown, Los Angeles, As The First Chinese-American Bank In California. It Opened Its First Branch In Monterey Park, California, In 1979. In 1985, It Opened Its First Overseas Representative Office In Hong Kong.
Cathay Bank Has Made A Number Of Acquisitions In The Past, First With General Bank In 2003 And Then With United Heritage Bank In 2007. However, It Failed To Acquire A 20% Stake In First Sino Bank In 2006.
On July 8, 2016, Cathay General Bancorp Paid About US $351.60 Million (NT $11.40 Billion) To Taiwan SinoPac Bank To Acquire SinoPac Bancorp Of California And Its Wholly-owned Subsidiary Far East National Bank. Far East National Bank Has Nine Branches In California And An Overseas Office In Beijing. It Was Not Until July 2017 That The Taiwan Financial Regulatory Commission Approved The Case.
On August 19, 2016, Zheng Jiafa Retired As The President Of The Company And Was Replaced By Dai Bin, But He Remained As Chairperson.
May 26, 2021 Cathay Bank Of Cathay General Bancorp Has Acquired 10 Of Its Retail Branches In California On The West Coast Of The United States From HSBC Bank USA, Including 50,000 Customers 1 Billion USD Deposits And Approximately 800 Million USD Loans.
Acquisitions
- General Bank
- United Heritage Bank
- SinoPac Bancorp And Its Wholly Owned Subsidiary Far East National Bank
- HSBC Bank USA's 10 Retail Branches In California On The West Coast Of The United States
