LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Monday reported second-quarter earnings of $54.3 million.
The bank, based in Los Angeles, said it had earnings of 68 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The holding company for Cathay Bank posted revenue of $189.6 million in the period. Its revenue net of interest expense was $150.1 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $144.3 million.
Cathay shares have fallen 35% since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.89, a decline of 33% in the last 12 months.