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CATHAY BANCORP ANNOUNCES RESULTS

 CATHAY BANCORP ANNOUNCES RESULTS
 LOS ANGELES, Dec. 9 /PRNewswire/ -- The following was announced


today by Cathay Bancorp Inc.:
 CATHAY BANCORP INC. AND SUBSIDIARY
 Consolidated Statements of Condition
 (unaudited)
 (dollars in thousands)
 Sept. 30, Sept. 30,
 1991 1990
 Assets:
 Cash and due from banks $28,119 $29,075
 Funds sold 22,000 ---
 Cash and cash equivalents 50,119 29,075
 Investment securities (with market
 values of $112,949 and $91,855
 as of Sept. 30, 1991 and 1990
 respectively) 109,308 90,033
 Loans (net of allowances for loan
 losses of $5,163 and $4,400 as of
 Sept. 30, 1991 and 1990
 respectively) 524,103 477,024
 Other real estate owned 132 ---
 Promises and equipment, net 22,177 15,528
 Customer's acceptances 5,336 3,702
 Accrued interest receivable 6,408 6,705
 Other assets 10,765 10,359
 Total assets $728,348 $632,426
 Liabilities and Shareholders Equity:
 Deposits:
 Non-interest bearing accounts --
 Demand deposits $74,364 $66,177
 Interest bearing accounts --
 NOW accounts 54,623 49,268
 Money market deposits 88,087 75,824
 Savings deposits 94,539 76,976
 Time deposits 336,080 291,351
 Total deposits $647,693 $559,596
 Federal funds purchased and security
 repurchase agreements 5,800 8,200
 Acceptances outstanding 5,336 3,702
 Other liabilities 3,746 2,843
 Total liabilities $662,575 $574,341
 Commitments and Contingencies
 Shareholders' Equity
 Preferred stock, $.01 par value;
 10,000,000 shares authorized, none
 outstanding
 Common stock, $.01 par value; 25,000,000
 shares authorized, 6,225,984 and
 6,130,251 shares outstanding at
 Sept. 30, 1991 and 1990
 respectively 6,226 6,130
 Capital surplus 30,097 28,513
 Retained earnings 29,450 23,442
 Total shareholders' equity 65,773 58,085
 Total liabilities and shareholders'
 equity $728,348 $632,426
 Consolidated Statements of Income
 For the nine months ended
 (unaudited)
 (dollars in thousands)
 Sept. 30, Sept. 30,
 1991 1990
 Interest from earning assets:
 Interest and fees on loans $41,221 $39,946
 Interest on investment securities 5,602 5,138
 Interest on funds sold 420 450
 Interest on time deposits with other
 banks --- 41
 Total interest from earning assets 47,243 45,575
 Cost of funds:
 Interest on deposits 23,761 24,082
 Other interest expense 156 179
 Total cost of funds 23,917 24,261
 Net interest from earning assets
 before provision for loan losses 23,326 21,314
 Provision for loan losses 766 570
 Net interest from earning assets 22,560 20,744
 Non-interest income:
 Investment securities gains (losses) 1 (2)
 Other non-interest income 2,564 2,528
 Total non-interest income 2,565 2,526
 Operating expenses:
 Salaries and related benefits 6,984 6,341
 Occupancy expenses 2,274 2,229
 Other operating expenses 4,276 2,797
 Total operating expenses 13,534 11,367
 Income before provision for income
 taxes 11,891 11,903
 Provision for income taxes 4,461 4,453
 Net income $7,430 $7,450
 Net income per share, based on the
 weighted average number of shares
 outstanding during the periods
 Income before provision for
 income taxes $1.92 $2.00
 Net income $1.20 $1.25
 Average number of shares outstanding 6,183 5,954
 -0- 12/9/91
 /CONTACT: Monica Chen of Cathay Bancorp, 213-625-4749/ CO: Cathay Bancorp ST: California IN: FIN SU: ERN


EH-CH -- LA007 -- 0518 12/09/91 11:44 EST
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Date:Dec 9, 1991
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