LOS ANGELES–(BUSINESS WIRE)–This year marks the 60th anniversary of Cathay Bank. Founded in 1962 in Los Angeles’ Chinatown, the bank’s original purpose was to serve the growing and underserved Chinese-American community in Los Angeles. Cathay Bank became a publicly traded company, through its holding company Cathay General Bancorp, on the Nasdaq in 1990, and by 1999 the bank had expanded its footprint on the East Coast. Today, Cathay Bank remains based in Los Angeles and operates more than 60 branches across the United States, with a branch in Hong Kong and representative offices in Beijing, Shanghai and Taipei.
Some of the bank’s more recent milestones include the Cathay brand refresh, the purchase of HSBC Bank USA’s (“HSBC”) retail banking and retail banking businesses in the West Coast retail market, and the overrun of $20 billion in assets as of December 31, 2021.
Cathay Bank also gives back to its local communities. The Cathay Bank Foundation was founded in 2002 to help raise and administer funds distributed to nonprofit community organizations and continues to do so today. To celebrate its many years of accomplishments and to thank the support of our customers and the community, Cathay Bank hosted a celebratory event tonight in San Marino, California.
Executive Chairman Dunson Cheng and Chairman and CEO Chang M. Liu both attended the event and delivered speeches commemorating the occasion. A press conference was held before the official dinner and the media interviewed Liu, focusing on the bank’s milestones, achievements and community involvement.
“As part of our many anniversary celebrations, we held various events, including an open house at each branch from April 18-20, to reconnect with our local communities, customers and prospects. On our Diamond Anniversary, we lean on our dedicated colleagues past and present who have planted and cultivated the seeds of success as we applaud our Bank’s history, celebrate its present and let’s shape its future,” Liu said.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), opened in 1962 in Los Angeles to serve the growing immigrant community. Today, we operate over 60 branches across the United States, with a branch in Hong Kong and representative offices in Beijing, Shanghai and Taipei. In 2022, we proudly celebrate our Diamond Jubilee. Although much has changed in six decades, our pursuit and dedication have only grown stronger. So, now and always, we go above and beyond, so you can too. Learn more at cathaybank.com. FDIC insurance coverage is limited to deposit accounts at US branches of Cathay Bank.