Cathay General Bancorp Adopts New Share Repurchase Program

Shira Smolko

LOS ANGELES–(Business enterprise WIRE)–Cathay Typical Bancorp (the “Company”, Nasdaq: CATY), the holding business for Cathay Financial institution, declared that its Board of Directors has adopted a new share repurchase program authorizing the Company to repurchase up to $125,000,000 of the Company’s frequent inventory. The past $125,000,000 share repurchase system declared on September 2, 2021, was completed on February 18, 2022, with the repurchase of 2,858,503 shares at an normal price tag of $43.73.

The share repurchases could be made from time to time on the open up market place or in privately negotiated transactions. The timing, rate and quantity of the share repurchases will be identified by the Company’s administration primarily based on its evaluation of industry circumstances, applicable securities rules and other factors. Repurchases could also be built below a Rule 10b5-1 strategy, which if adopted would enable inventory repurchases when the Firm might in any other case be precluded from undertaking so less than insider investing rules. The share repurchase application may perhaps be suspended, terminated or modified at any time for any rationale, like sector disorders, the charge of repurchasing shares, the availability of substitute financial commitment chances, liquidity, and other factors considered ideal. These factors may perhaps also influence the timing and amount of money of share repurchases. As of the date of this release, the Business has around 75,150,090 shares of widespread stock outstanding.

ABOUT CATHAY Typical BANCORP

Cathay General Bancorp is the keeping company for Cathay Lender, a California state-chartered financial institution. Cathay Typical Bancorp’s site is observed at www.cathaygeneralbancorp.com. Launched in 1962, Cathay Financial institution offers a vast assortment of fiscal services. Cathay Bank at present operates 47 branches in California, 10 branches in New York Point out, four in Washington Condition, two in Illinois, two in Texas, one particular in Maryland, a person in Massachusetts, one particular in Nevada, 1 in New Jersey, one particular in Hong Kong, and a consultant place of work in Beijing, Shanghai and Taipei. Cathay Bank’s website is discovered at www.cathaybank.com.

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