Cathay Bank (the holding company is "Cathay Capital Holdings joint stock company" (NASDAQ: CATY), English: Cathay Bank), founded in 1962 by Wu Pingyuan and friends in Los Angeles, California (also the main headquarters), the first Chinese bank, and the first branch in Chinatown. Listed on the NASDAQ exchange in the winter of 1990.

The chairperson and former president is Zheng Jiafa, and it is worth noting that Chen Huifang's husband Deng Menghui is the executive vice president.

As of the end of 2016, the total assets of Cathay Vantone Financial Holdings joint stock company had reached 14.50 billion US dollars, the balance of various deposits was 11.70 billion US dollars; the balance of loans was 11.20 billion US dollars; the annual net surplus was 175.11 million US dollars, and the net profit per share was 2.19 US dollars. As of July 2017, there were more than 68 branches in California, New York, Illinois, Washington, Texas, Maryland, Massachusetts, Nevada and New Jersey. There were also branches in Hong Kong, and representative offices in Taipei and Shanghai.

History

The curtain is in Chinatown, Los Angeles, as the first Chinese American bank in California. In 1979, it opened its first branch in Monterey Park, California. In 1985, it opened its first overseas representative office in Hong Kong.

Cathay Pacific Bank has made several acquisitions in the past, first with Vantone Bank in 2003, and then with United Heritage Bank in 2007. However, it failed to acquire a 20% stake in First Sino Bank in 2006.

On July 8, 2016, Cathay Wantong Financial Holdings joint stock company spent about US $351.60 million (NT $11.40 billion) to acquire SinoPac Bancorp of California and its wholly-owned subsidiary Far East National Bank from Taiwan Yongfeng Bank. Far East National Bank has nine branches in California and an overseas office in Beijing. It was not until July 2017 that the Taiwan Financial Regulatory Commission approved the case.

On August 19, 2016, Zheng Jiafa retired as the president of the company and was replaced by Dai Bin, but he still remained as the chairperson.

May 26, 2021 Cathay General Bancorp's Cathay Bank has acquired 10 of its California-based retail branches on the West Coast of the United States from HSBC Bank of the United States, including 50,000 customers 1 billion US dollars in deposits and approximately 800 million US dollars in loans.

Acquisition

• Vantone Bank
• United Heritage Bank
• SinoPac Bancorp of California and its wholly owned subsidiary Far Eastern National Bank
• 10 of HSBC's California-based retail branches on the West Coast of the United States