Cathay General Bancorp

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Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California. It was founded in 1962 and is currently one of the largest banks in the United States focused on serving the Chinese American community.
The company’s main subsidiary, Cathay Bank, operates over 60 branches in California, Illinois, Massachusetts, Nevada, New Jersey, New York, Texas, and Washington. The bank provides a wide range of financial services including personal and business banking, home loans, and international banking.
Cathay General Bancorp is publicly traded on the NASDAQ stock exchange under the ticker symbol CATY. As of 2021, it has total assets of over $21 billion and employs over 1,200 people. The company’s mission is to provide financial services to diverse communities, with a particular focus on the Chinese American community.
In addition to its banking operations, Cathay General Bancorp is also involved in charitable and community initiatives. It has partnered with organizations such as the American Red Cross and the United Way to support disaster relief efforts and local community programs. The company also has a program called Go Beyond which encourages employees to volunteer and give back to their communities.
Cathay General Bancorp has received recognition for its financial performance, diversity and inclusion efforts, and community involvement. In 2020, it was named one of the Best Banks in America by Forbes and ranked as one of the Top 50 Corporate Philanthropists by the Los Angeles Business Journal. The company has also been recognized as a leader in diversity and inclusion by organizations such as Forbes and Fortune.

1. Strong Asian-American focus: Cathay General Bancorp caters primarily to the needs of the Asian-American community in the United States, making it a key player in this niche market. They offer services in multiple Asian languages and have a deep understanding of the cultural and financial needs of their target demographic.
2. Growth and stability: The company has shown consistent growth and profitability over the years, indicating its strong financial stability. It has also weathered economic downturns, making it a reliable and resilient company in the banking sector.
3. Diverse product portfolio: Cathay General Bancorp offers a wide range of banking and financial products and services, including commercial and consumer banking, wealth management, and international trade finance. This diversity allows it to cater to the diverse needs of its customers and generate multiple streams of revenue.
4. Strong reputation: The company has built a strong reputation for providing high-quality, personalized service to its customers. This has helped in customer retention and attracting new business.
5. Technologically advanced: Cathay General Bancorp has embraced technology and has invested in making its services more efficient and convenient for its customers. This includes online and mobile banking options and advanced digital features, making it a pioneer in the digital banking space.
6. Socially responsible: The company has a strong commitment to corporate social responsibility, focusing on initiatives to support its local communities in areas such as education, health, and affordable housing. This has helped it to build a positive brand image and a sense of trust among its customers.

The Cathay General Bancorp company’s business model is that of a financial services company, specifically a bank holding company. It provides various banking products and services to individuals, businesses, and institutions, including deposit accounts, loans, credit cards, and wealth management services. The company also offers a range of commercial and trade finance services, as well as international banking services. Cathay General Bancorp generates revenue primarily through interest income on loans and investments, as well as fees and commissions from its various services. Its business strategy focuses on prudent risk management, strong customer relationships, and expansion into new markets and products.

1. Cathay General Bancorp is one of the leading financial holding companies in the United States, with assets of over $20 billion.
2. The company was founded in 1962 by a group of Chinese-American businessmen in Los Angeles, California. Its name, Cathay, is derived from the historic name for China.
3. Cathay General Bancorp is the parent company of Cathay Bank, one of the oldest Chinese-American banks in the country. The bank was established in 1962, just months after the company’s founding.
4. In 1992, Cathay General Bancorp became a publicly traded company on the NASDAQ stock exchange.
5. The company’s headquarters is in Los Angeles, and it has over 60 branches servicing customers in California, New York, Illinois, Texas, Washington, and other states.
6. Besides commercial banking services, Cathay Bank also offers wealth management, personal banking, and international trade services.
7. Cathay General Bancorp has received numerous awards and recognitions for its financial performance and community involvement. In 2019, the company was named one of the top 50 banks in the United States by Forbes magazine.
8. The company has a strong commitment to diversity and inclusion, with over 80% of its workforce being women or people of color. It has also been recognized as one of the Best Places to Work by the Los Angeles Business Journal.
9. Cathay General Bancorp has a long history of supporting and giving back to the communities it serves, with a focus on education, healthcare, and community development.
10. In 2020, Cathay General Bancorp and its subsidiary Cathay Bank provided over $3 million in loans and donations to support small businesses affected by the COVID-19 pandemic.
11. The company has also been actively involved in promoting green initiatives and sustainable practices, earning a place on the Newsweek Green Rankings list.
12. Cathay General Bancorp is a member of the Federal Deposit Insurance Corporation (FDIC) and is an Equal Housing Lender.
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