Cathay General Bancorp appoints Albert Wang as deputy CFO

LOS ANGELES - Cathay General Bancorp (NASDAQ:CATY), the holding company for Cathay Bank and currently valued at $3.38 billion, announced Monday that Albert J. Wang has joined the company as Executive Vice President and Deputy Chief Financial Officer. According to InvestingPro data, the bank maintains solid financial metrics with a P/E ratio of 11.73 and offers a dividend yield of 2.76%.

Wang will report to the Chief Financial Officer and will provide expertise on fiscal matters, profitability, and financial goal-setting to support the bank’s long-term financial strategy, according to a press release from the company. The appointment comes as InvestingPro analysis shows the bank has maintained dividend payments for 35 consecutive years, demonstrating consistent financial stability.

Prior to joining Cathay Bank, Wang served as Executive Vice President and Chief Accounting Officer at Webster Bank. His previous roles include Chief Accounting Officer and acting Chief Financial Officer at Banc of California, as well as financial leadership positions at Santander Bank.

Wang is a certified public accountant with experience at Big 4 accounting firms and brings expertise in publicly traded commercial banking operations. His background includes management information systems and financial project leadership.

Cathay Bank, founded in 1962, operates more than 60 branches across nine U.S. states including California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. The bank also maintains an international presence with a branch in Hong Kong and representative offices in Beijing, Shanghai, and Taipei.

Cathay General Bancorp is listed on the Nasdaq exchange under the ticker CATY.

In other recent news, Cathay General Bancorp reported its financial results for the second quarter of 2025, showing a slight earnings per share (EPS) beat. The company posted an EPS of $1.10, surpassing the forecast of $1.09. However, the revenue forecast was not met, though specific revenue figures were not disclosed. In addition to the earnings report, Cathay General Bancorp’s Board of Directors declared a cash dividend of $0.34 per common share, payable on September 8, 2025. Analyst firm Keefe, Bruyette & Woods raised its price target for Cathay General Bancorp to $52.00 from $51.00, citing stronger loan growth at an 8% annualized rate for the quarter. DA Davidson also increased its price target to $51.00 from $45.00, highlighting the company’s solid quarter of net interest income growth and net interest margin expansion. These developments reflect recent activities surrounding Cathay General Bancorp.

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