Cathay General Bancorp (NASDAQ:CATY) stockholders approved all four proposals presented at the company’s 2026 annual meeting, including the election of four Class 3 directors, an advisory vote on executive compensation, an annual frequency for future say-on-pay votes and the ratification of KPMG LLP as the company’s independent registered public accounting firm for fiscal 2026.
The meeting was called to order by Dunson K. Cheng, executive chairman of the board, on May 18, 2026. May K. Chan, senior vice president, general counsel, corporate secretary and sustainability officer, said the meeting notice had been mailed on April 16 to stockholders of record as of March 26. Chan reported that 83.03% of Cathay General Bancorp’s issued and outstanding common shares were represented in person or by proxy, establishing a quorum.
Stockholders Elect Four Directors
The company identified Chung as lead independent director, Fernandez as chair of the investment committee, Hung as chair of the nomination and governance committee and Sun as chair of the compensation committee. The board had unanimously recommended votes in favor of each nominee.
Executive Compensation Votes Approved
Stockholders also approved, on an advisory and non-binding basis, the compensation paid to Cathay General Bancorp’s named executive officers as disclosed in the proxy statement. Chan said the proposal received the affirmative vote of holders of a majority of shares present in person or represented by proxy and entitled to vote.
In a separate advisory vote, stockholders approved an annual frequency for future advisory votes on executive compensation. The board had unanimously recommended an annual say-on-pay vote.
KPMG Ratified as Auditor
Stockholders ratified the appointment of KPMG LLP as Cathay General Bancorp’s independent registered public accounting firm for the 2026 fiscal year. Chan said the proposal received the required majority support from shares present in person or represented by proxy and entitled to vote.
Representatives of KPMG attended the meeting, along with Megan Boschelli of Troutman Pepper Locke, the company’s SEC counsel. Chan said the inspector of elections would provide a written report of the final vote count to be included in the meeting minutes.
Company Reviews 2025 Performance
Following the formal portion of the meeting, the company provided an overview of its 2025 performance, reporting net income of $315.1 million, up 10.2% from the prior year. Earnings per diluted share were $4.54.
The company said return on average stockholders’ equity reached 10.87%, while return on average assets improved to 1.33%. It attributed the results to disciplined balance sheet management, effective capital deployment, operational excellence and the ability to optimize funding costs as market conditions evolved.
Cathay General Bancorp also reported continued balance sheet growth. Total loans rose 4% to $20.15 billion, while deposits increased 6.1% to $20.89 billion.
The company said it ended 2025 with a Tier 1 risk-based capital ratio of 13.27%, which it described as well above the regulatory threshold to be considered well-capitalized. Cathay General Bancorp returned $178.6 million to stockholders during 2025 through its share repurchase program.
The company also said that beginning in the first quarter of 2026, it increased its quarterly dividend from $0.34 per share to $0.38 per share.
Looking ahead, the company said it remains focused on strengthening its core businesses, investing in innovations that matter to clients and operating with discipline and integrity. It said it remains committed to delivering long-term stockholder value through sustainable growth and prudent management.
About Cathay General Bancorp (NASDAQ:CATY)
Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.
Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.
