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Cathay General Q3 net income rises 4% YOY

Los Angeles-based Cathay General Bancorp reported third-quarter net income of $72.8 million, or 91 cents per share, up 4.3% from $69.8 million, or 85 cents per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the most recent quarter was 88 cents.

The company's assets totaled $18.00 billion at the end of the third quarter, compared to $16.46 billion at Sept. 30, 2018. Total deposits were $14.66 billion, compared to $13.58 billion a year ago. Gross loans, including loans held for sale, rose to $14.73 billion from $13.65 billion.

During the third quarter, Cathay General repurchased 135,000 common shares at an average per-share cost of $34.76.