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CATHAY BANCORP ANNOUNCES FIRST QUARTER EARNINGS

 LOS ANGELES, May 3 /PRNewswire/ -- Cathay Bancorp Inc. (NASDAQ: CATY), the holding company of Cathay Bank, today announced its 1993 first quarter net income of $2,630,000 or $0.34 per share, compared with $2,500,000 or $0.33 per share for the first quarter of 1992.
 As of March 31, 1993, total assets reached $849,699,000, a 13 percent increase from $751,676,000 a year ago. Loans, net of allowance for loan losses, increased 8 percent to $600,534,000 from $553,819,000 a year ago, while deposits rose 14 percent to $761,956,000 from $666,211,000. Stockholders' equity was up 11 percent to $77,635,000 from $70,198,000 a year ago.
 Cathay Bancorp Inc. is the one-bank holding company for Cathay Bank. The bank now operates nine branches in Southern California, two branches in Northern California, and two overseas offices in Taiwan and Hong Kong.
 CATHAY BANCORP
 Financial Highlights
 (Amounts in thousands except per share data)
 (Unaudited)
 First Quarter First Quarter
 1993 1992
 Net interest income $9,078 $7,807
 Provision for loan losses 600 652
 Net interest income after
 provision for loan losses 8,478 7,155
 Non-interest income 1,447 1,783
 Non-interest expense 5,708 4,914
 Income before income tax expense 4,217 4,024
 Income tax expense 1,587 1,524
 Net income 2,630 2,500
 Net income per common share 0.34 0.33
 Financial Ratios March 31,
 1993 1992
 Return on average
 stockholders' equity 14.23 pct. 15.18 pct.
 Return on average assets 1.31 pct. 1.43 pct.
 Equity capital to assets 9.14 pct. 9.34 pct.
 March 31,
 1993 1992
 Total Assets $849,699 $751,676
 Net loans 600,534 553,819
 Allowance for loan losses 6,357 5,828
 Total deposits 761,956 666,211
 Stockholders' equity 77,635 70,198
 Book value per share 10.16 9.29
 -0- 5/3/93
 /CONTACT: Monica Chen of Cathay Bancorp, 213-625-4749/
 (CATY)


CO: Cathay Bancorp Inc. ST: California IN: FIN SU: ERN

MS -- LA018 -- 3829 05/03/93 12:54 EDT
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Date:May 3, 1993
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