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Condensed Consolidated Statements Of Operations And Comprehensive Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST AND DIVIDEND INCOME        
Loans receivable, including loan fees $ 89,792 $ 95,083 $ 180,350 $ 190,822
Investment securities-taxable 23,116 28,751 44,970 59,039
Investment securities-nontaxable 1,055 99 2,111 176
Federal Home Loan Bank stock 49 46 96 94
Federal funds sold and securities purchased under agreements to resell 7   48  
Deposits with banks 320 308 541 625
Total interest and dividend income 114,339 124,287 228,116 250,756
INTEREST EXPENSE        
Time deposits of $100,000 or more 10,894 14,281 21,619 29,664
Other deposits 5,374 7,985 11,094 17,086
Securities sold under agreements to repurchase 14,892 16,490 31,063 32,802
Advances from Federal Home Loan Bank 3,642 9,981 8,491 20,020
Long-term debt 1,216 943 2,422 1,856
Short-term borrowings 6   7  
Total interest expense 36,024 49,680 74,696 101,428
Net interest income before provision for credit losses 78,315 74,607 153,420 149,328
Provision for credit losses 10,000 45,000 16,000 129,000
Net interest income after provision for credit losses 68,315 29,607 137,420 20,328
NON-INTEREST INCOME        
Securities gains, net 5,178 5,189 11,410 8,628
Letters of credit commissions 1,395 1,068 2,673 2,027
Depository service fees 1,399 1,236 2,760 2,593
Other operating income/(loss) 4,481 (81) 8,236 (1,052)
Total non-interest income 12,453 7,412 25,079 12,196
NON-INTEREST EXPENSE        
Salaries and employee benefits 17,659 14,783 35,930 30,009
Occupancy expense 3,457 3,793 6,995 7,631
Computer and equipment expense 2,115 2,108 4,298 4,121
Professional services expense 4,959 5,000 8,688 9,639
FDIC and State assessments 2,905 5,784 7,222 10,928
Marketing expense 817 821 1,512 1,720
Other real estate owned expense 2,262 1,598 2,483 4,893
Operations of affordable housing investments , net 1,977 2,112 3,953 4,225
Amortization of core deposit intangibles 1,460 1,485 2,941 2,992
Cost associated with debt redemption 5,176   13,987 909
Other operating expense 2,623 2,835 5,184 7,415
Total non-interest expense 45,410 40,319 93,193 84,482
Income/(loss) before income tax benefit 35,358 (3,300) 69,306 (51,958)
Income tax expense/(benefit) 10,906 (5,373) 22,640 (28,441)
Net income/(loss) 24,452 2,073 46,666 (23,517)
Less: net income attributable to noncontrolling interest (150) (150) (301) (301)
Net income/(loss) attributable to Cathay General Bancorp 24,302 1,923 46,365 (23,818)
Dividends on preferred stock (4,107) (4,096) (8,212) (8,188)
Net income/(loss) attributable to common stockholders 20,195 (2,173) 38,153 (32,006)
Other comprehensive income, net of tax        
Unrealized holding gain arising during the period 11,974 20,065 12,017 30,107
Less: reclassification adjustments included in net income 3,001 3,008 6,613 5,001
Total other comprehensive gain, net of tax 8,973 17,057 5,404 25,106
Total comprehensive income $ 33,275 $ 18,980 $ 51,769 $ 1,288
Net income/(loss) per common share:        
Basic $ 0.26 $ (0.03) $ 0.49 $ (0.42)
Diluted $ 0.26 $ (0.03) $ 0.49 $ (0.42)
Cash dividends paid per common share $ 0.01 $ 0.01 $ 0.02 $ 0.02
Average common shares outstanding        
Basic 78,635,324 78,513,577 78,622,464 75,599,854
Diluted 78,637,108 78,513,577 78,636,369 75,599,854