Note 21 - Condensed Financial Information of Cathay General Bancorp (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Condensed Balance Sheet [Table Text Block]

	As of December 31,
	2022			2021
	(In thousands, except
	share and per share data)
Assets
Cash	$	14,902		$	19,629
Cash pledged as margin for interest rate swaps		—			1,071
Short-term certificates of deposit		334			333
Equity securities		16,360			15,627
Investment in Cathay Bank subsidiary		2,566,266			2,530,850
Investment in non-bank subsidiary		764			807
Other assets		4,385			4,691
Total assets	$	2,603,011		$	2,573,008
Liabilities
Junior subordinated debt	$	119,136		$	119,136
Other liabilities		9,835			7,621
Total liabilities		128,971			126,757
Commitments and contingencies		—			—
Stockholders' equity
Common stock, $0.01 par value, 100,000,000 shares authorized, 91,090,614 issued and 72,742,151 outstanding at December 31, 2022, and 90,871,860 issued and 75,750,862 outstanding at December 31, 2021.		911			909
Additional paid-in-capital		981,119			972,474
Accumulated other comprehensive loss, net		(102,295	)		(3,065	)
Retained earnings		2,244,856			1,985,168
Treasury stock, at cost (18,348,463 shares at December 31, 2022, and 15,120,998 shares at December 31, 2021)		(650,551	)		(509,235	)
Total equity		2,474,040			2,446,251
Total liabilities and equity	$	2,603,011		$	2,573,008

Condensed Income Statement [Table Text Block]

	Year Ended December 31,
	2022			2021			2020
	(In thousands)
Cash dividends from Cathay Bank	$	232,773		$	230,000		$	146,000
Interest income		30			36			49
Interest expense		5,560			5,773			5,906
Non-interest Income/(loss)		1,018			3,117			(435	)
Non-interest expense		3,937			3,224			4,846
Income before income tax expense		224,324			224,156			134,862
Income tax expense		(2,885	)		(1,810	)		(3,692	)
Income before undistributed earnings of subsidiaries		227,209			225,966			138,554
Undistributed earnings of subsidiary		133,433			72,338			90,306
Net income	$	360,642		$	298,304		$	228,860

Condensed Cash Flow Statement [Table Text Block]

	Year Ended December 31,
	2022			2021			2020
	(In thousands)
Cash flows from Operating Activities
Net income	$	360,642		$	298,304		$	228,860
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(133,433	)		(72,338	)		(90,306	)
Loss/(gain) on equity securities		(733	)		(122	)		641
Write-downs on venture capital and other investments		268			73			107
(Gain)/loss in fair value of warrants		(27	)		—			18
Stock issued to directors as compensation		849			850			800
Net change in accrued interest receivable and other assets		(434	)		1,918			(1,182	)
Net change in other liabilities		8,532			4,934			(9,853	)
Net cash provided by operating activities		235,664			233,619			129,085
Cash flows from Investment Activities
Proceeds from liquidation of subsidiary		—			—			2,399
Proceeds from sale of equity securities		—			—			3,112
Venture capital and other investments		(5	)		357			116
Net cash (used)/provided by investment activities		(5	)		357			5,627
Cash flows from Financing Activities
Repayment of long-term debt		—			—			(7,644	)
Cash dividends paid		(100,955	)		(99,322	)		(98,688	)
Proceeds from shares issued under the Dividend Reinvestment Plan		3,719			3,563			9,777
Taxes paid related to net share settlement of RSUs		(2,905	)		(2,632	)		(1,911	)
Purchase of treasury stock		(141,316	)		(167,104	)		(23,593	)
Net cash used in financing activities		(241,457	)		(265,495	)		(122,059	)
Increase/(decrease) in cash, cash equivalents and restricted cash		(5,798	)		(31,519	)		12,653
Cash, cash equivalents, and restricted cash, beginning of the year		20,700			52,219			39,566
Cash, cash equivalents, and restricted cash, end of the period	$	14,902		$	20,700		$	52,219