Cathay General Bancorp Files 8-K

TL;DR

CATY filed an 8-K on 5/28. Standard corporate update.

AI Summary

Cathay General Bancorp filed an 8-K on May 28, 2024, reporting other events and financial statements. The filing details the company's principal executive offices located at 777 North Broadway, Los Angeles, California, 90012.

Why It Matters

This 8-K filing provides an update on Cathay General Bancorp's corporate activities and financial reporting to the SEC.

Risk Assessment

Risk Level: low — This filing is a routine 8-K for corporate reporting and does not appear to contain significant new risks or material adverse information.

Key Players & Entities

• CATHAY GENERAL BANCORP (company) — Registrant
• 777 North Broadway, Los Angeles, California, 90012 (location) — Principal executive offices
• May 28, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $125,000,000 — orizing the Company to repurchase up to $125,000,000 of the Company's common stock. The shar

Filing Documents

• caty20240528_8k.htm (8-K) — 29KB
• ex_680517.htm (EX-99.1) — 7KB
• cathaylogo.jpg (GRAPHIC) — 5KB
• 0001437749-24-018531.txt ( ) — 175KB
• caty-20240528.xsd (EX-101.SCH) — 3KB
• caty-20240528_def.xml (EX-101.DEF) — 11KB
• caty-20240528_lab.xml (EX-101.LAB) — 15KB
• caty-20240528_pre.xml (EX-101.PRE) — 11KB
• caty20240528_8k_htm.xml (XML) — 3KB

01 - Other Events

Item 8.01 - Other Events. On May 28, 2024, Cathay General Bancorp (the "Company") issued a press release announcing that the Company's board of directors has adopted a new share repurchase program authorizing the Company to repurchase up to $125,000,000 of the Company's common stock. The share repurchases may be made from time to time on the open market or in privately negotiated transactions. The timing, price and volume of the share repurchases will be determined by the Company's management based on its evaluation of market conditions, relevant securities laws and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which if adopted would allow stock repurchases when the Company might otherwise be precluded from doing so under insider trading laws. The share repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. As of the date of the press release, the Company has approximately 72,813,413 shares of common stock outstanding. The information in this Form 8-K and the exhibit attached to this Form 8-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and are subject to a number of factors that could cause actual events to differ materially from those anticipated, including without limitation fluctuations in the market price of the common stock, regulatory, legal and contractual requirements, other uses of capital, the Company's financial performance, market conditions generally or modification, extension or termination of the share repurchase authorization by the board of directors. Forward-looking statements are based on beliefs and assumptions using informa

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release of Cathay General Bancorp, dated May 28, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: May 28, 2024 CATHAY GENERAL BANCORP By: /s/ Heng W. Chen Heng W. Chen Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR