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Cathay: 2Q Earnings Snapshot

LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Wednesday reported second-quarter net income of $72.2 million.

The Los Angeles-based bank said it had earnings of 90 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The holding company for Cathay Bank posted revenue of $205.2 million in the period. Its revenue net of interest expense was $156.2 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $154.1 million.

Cathay shares have risen nearly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.77, a decline of 14% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CATY at https://www.zacks.com/ap/CATY