Conservative approach brings mixed results for Cathay

From: Orange County Business Journal | Date: February 17, 2003| Author: | Copyright information

Last year was a good one for Cathay Bancorp, considered by many to be the dean of ethnic Asian banks in Los Angeles.

Aided by lower interest rates, Cathay last year posted a 14% jump in net income, to a record $48.7 million.

Cathay has Orange County branches in Irvine and Westminster.

This year, the challenge will be to keep earnings at that same level. Like other lenders, Cathay benefited from a series of Federal Reserve rate reductions in 2001 that lowered borrowing costs and helped improve the spreads on money being lent out.

After a key interest rate was cut again in November, ...

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