Cathay General reports Q2 EPS 92c, consensus 94c

Reports Q2 NII $165.3M vs. $181.5M last year. The decrease was “due primarily to an increase in deposit interest expense offset, in part, by an increase in interest income from loans and securities.” Q2 net interest margin was 3.01% vs. 3.05% in Q1 and 3.44% in Q2 of last year. “We are seeing signs that our net interest margin has begun to stabilize. During the second quarter, we repurchased 0.7 million shares at an average cost of $36.41 per share, for a total of $25.1 million,” commented Chang M. Liu, CEO.