Cathay General Bancorp Q1 Profit Rises

(RTTNews) - Cathay General Bancorp (CATY), the holding company for Cathay Bank, Wednesday reported first-quarter net income of $31.3 million or $0.39 per share, up from $23.7 million or $0.30 per share last year.

Analysts polled by Thomson Reuters expected revenues of $0.39 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income, before provision for credit losses, rose to $82.7 million from $80.1 million last year. Non-interest income for the quarter dropped to $14.6 million from $14.9 million last year. Analysts expected revenues of $92.76 million for the quarter.