Cathay General Bancorp, the holding company of Cathay Bank, is ranked in the Top 20 on Forbes Best Banks in America 2020 list — the fifth year in a row the company has achieved this distinction.
“We are proud to receive this recognition again, something that celebrates our continued focus on excellence for both our customers and our stockholders,” said Pin Tai, Chief Executive Officer of Cathay Bank and Cathay General Bancorp. “Holding such a high ranking on this prestigious list is a testament to the diligence of our employees — who work hard to help our customers achieve their dreams and make a difference in the communities we serve.”
The ranking is based on metrics that include return on average tangible common equity, return on average assets, net interest margin, efficiency ratio, net charge-offs as a percentage of total loans and operating revenue growth. Forbes also factored in nonperforming assets as a percent of assets, CET1 ratio, risk-based capital ratio and reserves as a percent of nonperforming assets.
Since 2009, Forbes has ranked the 100 largest U.S. banks and thrifts by assets, using data collected by S&P Global Market Intelligence. These institutions — which do not include those with a top-level parent based outside the U.S. — collectively have $14.4 trillion in assets, representing 81 percent of total U.S. bank assets.
From Forbes. © 2020 Forbes. All rights reserved. Used under license.
This article does not constitute legal, accounting or other professional advice. Although the information contained herein is intended to be accurate, Cathay Bank does not assume liability for loss or damage due to reliance on such information.