Cathay Bank Celebrates Its 60th Anniversary

LOS ANGELES--(BUSINESS WIRE)-- This year marks Cathay Bank’s 60th Anniversary. Founded in 1962 in Los Angeles Chinatown, the bank’s initial focus was to serve the growing and underserved Chinese American community in Los Angeles. Cathay Bank became a publicly traded company, through its holding company Cathay General Bancorp, on Nasdaq in 1990, and by 1999, the bank had expanded its footprint to the East Coast. Today, Cathay Bank remains headquartered in Los Angeles and operates over 60 branches throughout the U.S., with one branch in Hong Kong and representative offices in Beijing, Shanghai, and Taipei.

(Photo: Business Wire)

Some of the bank’s more recent milestones include refreshing the Cathay brand, purchasing HSBC Bank USA (“HSBC”) West Coast mass retail market consumer banking business and retail business banking business, and surpassing $20 billion in asset size as of December 31, 2021.

Cathay Bank also gives back to its local communities. The Cathay Bank Foundation was founded in 2002 to help raise and administer funds distributed to community-based nonprofit organizations and continues to do so today. To celebrate its many years of achievements and to thank the support of our clients and community, Cathay Bank hosted a celebratory event this evening in San Marino, California.

Executive Chairman Dunson Cheng and President and Chief Executive Officer Chang M. Liu both attended the event and delivered speeches commemorating the occasion. A press conference was held before the formal dinner and the media interviewed Liu, focusing on the bank's milestones, achievements, and community involvement.

“As part of our many anniversary celebrations, we hosted various events, including an Open House event at every branch from April 18 to 20, to reconnect with our local communities, clients, and prospects. On our Diamond Anniversary, we stand on the shoulders of our dedicated colleagues past and present who have planted and cultivated the seeds of success as we applaud our Bank’s history, celebrate its present and shape its future,” stated Liu.

About Cathay Bank

Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), opened its doors in 1962 in Los Angeles to serve the growing immigrant community. Today, we operate over 60 branches across the U.S., with a branch in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. In 2022, we proudly celebrate our diamond jubilee. While much has changed over six decades, our pursuit and dedication has only grown stronger. Then, now, and always, we go above and beyond, so you can, too. Learn more at cathaybank.com. FDIC insurance coverage is limited to deposit accounts at Cathay Bank’s U.S. domestic branch locations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220527005412/en/

Rex Hong

626-279-3250

Source: Cathay Bank