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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
October 28
Cathay General Bancorp of Los Angeles had income of $17.3 million for the third quarter compared with a net loss of $17.7 million a year earlier.
The parent company of Cathay Bank, one of the nation's largest Chinese-American banks, said late Tuesday that the turnaround largely stemmed from declines in its chargeoffs, problem loans and loan-loss provision.
Net chargeoffs, at $18 million, fell in tandem with Cathay's loan-loss provision, which dropped 76%, to $17.9 million compared with a year earlier.
Similarly, net chargeoffs declined 20% from the second quarter and 68.4% from the third quarter of 2009.
The $11.3 billion-asset Cathay also marked a turning point with its loan portfolio, posting a slight increase of 0.01%, to $6.9 billion in gross loans as of Sept. 30 compared with Dec. 31.
