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Cathay posts 1Q profit

LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Wednesday reported first-quarter earnings of $48.9 million.

The bank, based in Los Angeles, said it had earnings of 61 cents per share.

The holding company for Cathay Bank posted revenue of $137.5 million in the period. Its adjusted revenue was $118.8 million.

Cathay shares have dropped almost 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.98, a rise of 20 percent in the last 12 months.

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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

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Keywords: Cathay General, Earnings Report