UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
|
(Mark One) |
|
||
|
|
|||
|
ý |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
||
|
|
|||
|
For the quarterly period ended June 30, 2002 |
|||
|
|
|||
|
|
|||
|
o |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
||
For the transition period from to
Commission file number 0-18630
|
CATHAY BANCORP, INC. |
||
|
(Exact name of registrant as specified in its charter) |
||
|
|
|
|
|
Delaware |
|
95-4274680 |
|
(State of other
jurisdiction of incorporation |
|
(I.R.S. Employer |
|
|
|
|
|
777 North Broadway, Los Angeles, California |
|
90012 |
|
(Address of principal executive offices) |
|
(Zip Code) |
|
|
|
|
|
Registrant’s telephone number, including area code: |
|
(213) 625-4700 |
|
|
|
|
|
(Former name, former address and former fiscal year, if changed since last report) |
||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ý No o
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Common stock, $.01 par value, 18,005,539 shares outstanding as of August 1, 2002
CATHAY BANCORP, INC. AND SUBSIDIARY
2ND QUARTER 2002 REPORT ON FORM 10-Q
TABLE OF CONTENTS
2
(Unaudited)
3
CATHAY BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
|
(In thousands, except share and per share data) |
|
June 30, 2002 |
|
December 31, |
|
% change |
|
||
|
|
|
|
|
|
|
|
|
||
|
Assets |
|
|
|
|
|
|
|
||
|
Cash and due from banks |
|
$ |
62,880 |
|
$ |
73,514 |
|
(14 |
) |
|
Federal funds sold and securities purchased under agreements to resell |
|
53,500 |
|
13,000 |
|
312 |
|
||
|
Cash and cash equivalents |
|
116,380 |
|
86,514 |
|
35 |
|
||
|
Securities available-for-sale (amortized cost of $286,663 in 2002 and $241,788 in 2001) |
|
294,386 |
|
248,958 |
|
18 |
|
||
|
Securities held-to-maturity (estimated fair value of $372,479 in 2002 and $382,814 in 2001) |
|
359,735 |
|
374,356 |
|
(4 |
) |
||
|
Loans |
|
1,726,922 |
|
1,667,905 |
|
4 |
|
||
|
Less: Allowance for loan losses |
|
(22,035 |
) |
(23,973 |
) |
(8 |
) |
||
|
Unamortized deferred loan fees |
|
(3,991 |
) |
(3,900 |
) |
2 |
|
||
|
Loans, net |
|
1,700,896 |
|
1,640,032 |
|
4 |
|
||
|
Other real estate owned, net |
|
653 |
|
1,555 |
|
(58 |
) |
||
|
Investments in real estate, net |
|
21,484 |
|
17,727 |
|
21 |
|
||
|
Premises and equipment, net |
|
30,036 |
|
29,403 |
|
2 |
|
||
|
Customers’ liability on acceptances |
|
12,219 |
|
12,729 |
|
(4 |
) |
||
|
Accrued interest receivable |
|
14,727 |
|
14,545 |
|
1 |
|
||
|
Goodwill |
|
6,552 |
|
6,552 |
|
— |
|
||
|
Other assets |
|
21,917 |
|
20,743 |
|
6 |
|
||
|
|
|
|
|
|
|
|
|
||
|
Total assets |
|
$ |
2,578,985 |
|
$ |
2,453,114 |
|
5 |
|
|
|
|
|
|
|
|
|
|
||
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
||
|
Deposits |
|
|
|
|
|
|
|
||
|
Non-interest-bearing demand deposits |
|
$ |
272,462 |
|
$ |
260,427 |
|
5 |
|
|
Interest-bearing deposits: |
|
|
|
|
|
|
|
||
|
NOW deposits |
|
138,444 |
|
135,650 |
|
2 |
|
||
|
Money market deposits |
|
147,255 |
|
136,806 |
|
8 |
|
||
|
Savings deposit |
|
272,859 |
|
252,322 |
|
8 |
|
||
|
Time deposits under $100 |
|
416,919 |
|
414,490 |
|
1 |
|
||
|
Time deposits of $100 or more |
|
958,704 |
|
922,653 |
|
4 |
|
||
|
Total deposits |
|
2,206,643 |
|
2,122,348 |
|
4 |
|
||
|
|
|
|
|
|
|
|
|
||
|
Securities sold under agreements to repurchase |
|
28,506 |
|
22,114 |
|
29 |
|
||
|
Advances from the Federal Home Loan Bank |
|
50,000 |
|
30,000 |
|
67 |
|
||
|
Acceptances outstanding |
|
12,219 |
|
12,729 |
|
(4 |
) |
||
|
Other liabilities |
|
15,003 |
|
19,912 |
|
(25 |
) |
||
|
Total liabilities |
|
2,312,371 |
|
2,207,103 |
|
5 |
|
||
|
|
|
|
|
|
|
|
|
||
|
Stockholders’ Equity |
|
|
|
|
|
|
|
||
|
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued |
|
— |
|
— |
|
— |
| ||