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You in More Places ABOUT CATHAY GENERAL BANCORP Cathay General Bancorp Is the Holding Company for Cathay Bank

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You in More Places ABOUT CATHAY GENERAL BANCORP Cathay General Bancorp Is the Holding Company for Cathay Bank 2006 ANNUAL REPORT 777 North Broadway, Los Angeles, California 90012 T: (213) 625-4700 F: (213) 625-1368 www.cathaybank.com you in more places ABOUT CATHAY GENERAL BANCORP Cathay General Bancorp is the holding company for Cathay Bank. Founded in 1962, Cathay Bank is committed to providing excellent bank- ing service to its communities. Our extended service network covers seven states in the country—Southern and Northern California, New York, Illinois, Massachusetts, Texas, Washington, and New Jersey. Overseas, we have offices in Hong Kong, Shanghai, and Taipei. Washington Massachusetts Illinois New York OUR SERVICE NETWORK New Jersey Northern California Southern California Texas Forward–Looking Statements This Annual Report contains forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management’s beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “may,” “will,” “should,” “could,” “predicts,” “potential,” “continue,” or the negative of such terms and other comparable terminology or similar expressions. Forward-looking statements are not guarantees. They involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Cathay General Bancorp to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising Overseas Offices from: Cathay General Bancorp’s ability to successfully consummate or realize the benefits of any merger or acquisition, expansion into new market areas, fluctuations in interest rates, financial market volatility, demographic changes, inflation, increases in competition, deterioration in asset or credit quality, earthquake or other natural disasters affecting the condition of real estate collateral, changes in the availability of capital, legislative and regulatory developments, such as the potential effects of California tax legislation enacted Shanghai in late 2003 and the subsequent Franchise Tax Board announcement on December 31, 2003, regarding the taxation of real estate investment trusts and registered investment companies, current, pending, or future legislative and regulatory changes or developments, regulatory actions, changes in business strategy, and general economic or business conditions in California and other regions where Cathay Bank has operations. These and other factors are described in Cathay General Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2006, contained in this Annual Report, its reports and registration statements filed with the Securities and Exchange Commission (“SEC”), and other filings it makes in the future with the SEC from time to time. Cathay General Bancorp has no intention and undertakes no obligation to update any forward-looking statements or to publicly announce the results of any revision of any forward-looking statement to reflect future developments or events. Taipei Cathay General Bancorp’s filings with the SEC are available to the public from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov, or by request directed to Cathay General Bancorp, 777 N. Broadway, Los Angeles, CA 90012, Attention: Investor Relations (213) 625-4749. The information contained on Cathay Hong Kong designed by curran & connors, inc. / www.curran-connors.com Bank’s website is not part of this Annual Report. FINANCIAL HIGHLIGHTS Increase (Dollars in thousands, except per share data) 2006 2005 Amount Percentage FOR THE YEAR Net income $ 117,570 $ 104,091 $ 13,479 12.9% Net income per common share Basic 2.29 2.07 0.22 10.6% Diluted 2.27 2.05 0.22 10.7% Cash dividends paid per common share 0.36 0.36 — 0.0% AT YEAR-END Securities available-for-sale $1,522,223 $1,217,438 $ 304,785 25.0% Loans, net 5,670,873 4,574,831 1,096,042 24.0% Assets 8,026,508 6,397,503 1,629,005 25.5% Deposits 5,675,306 4,916,350 758,956 15.4% Stockholders’ equity 943,074 773,617 169,457 21.9% Book value per common share 18.16 15.41 2.75 17.8% PROFITABILITY RATIOS Return on average assets 1.60% 1.69% Return on average stockholders’ equity 13.61% 14.05% CAPITAL RATIOS Tier 1 capital ratio 9.40% 10.61% Total capital ratio 11.00% 11.72% Leverage ratio 8.98% 9.80% $49 $56 $87 $104 $288 $716 $774 $619 $118 $120 $1,000 $943 $10,000 $2,754 $6,098 $6,398 $5,542 $8,027 100 800 8,000 80 600 6,000 60 400 4,000 40 200 2,000 20 0 0 0 ’02 ’03 ’04 ’05 ’06 ’02 ’03 ’04 ’05 ’06 ’02 ’03 ’04 ’05 ’06 Net Income Stockholders’ Equity Total Assets ($ in millions) ($ in millions) ($ in millions) PAGE 01 LETTER TO STOCKHOLDERS Dear Fellow Stockholders, Forty-five years ago, Cathay Bank 45 was founded to provide excellent YEARS AGO banking service to its community, which was then in the Chinatown area of Los Angeles. Since then, our community has spread far and beyond. According to the U.S. Census Bureau 2005 American Com munity Survey, of the 12 million Asian-Americans in this country, 35.2% live in California, but other states also have significant Asian-American populations—New York (10%), Texas (5.8%), New Jersey (5%), Illinois (4.2%), Washington Dunson K. Cheng and Peter Wu (3.2%), and Massa chusetts (2.3%). Staying true to our mission, we have brought Cathay Bank to all these other states. Indeed, among the twelve CATHAY BANK HAS BRANCHES IN TEN OF THE CITIES WITH THE LARGEST ASIAN−AMERICAN POPULATIONS. PAGE 02 U.S. cities with the largest Asian-American • In October, we acquired New Asia Bank. Founded pop ulations, Cathay Bank has branches in in 1987, New Asia Bank had three branches in the Chicago area. This acquisition presents a new ten of them. We were the first Chinese- opportunity for us to bring our brand of service American bank in Southern California and to the important Chicago market, the third we are now the oldest Chinese-American largest city in the country and a central hub in bank in the country. our strategic platform. • In November, we entered into a definitive agreement In 2006, we continued to follow our strategy of to acquire United Heritage Bank. United Heritage strengthening our market share and expanding our Bank, founded in 1997, has one branch in Edison, network through several key acquisitions: New Jersey, a municipality that is ranked by the • In April, we acquired Great Eastern Bank. Founded 2000 Census as having the fifth largest population in 1986 in New York City, Great Eastern Bank pri- in New Jersey, and where the newly elected mayor marily served the Chinese-American community in is Asian-American. United Heritage Bank provides the greater New York City area. With this acquisi- us with entrance into a new market in New Jersey, tion, we doubled our loans and deposits in New where there are many attractive communities York and increased the number of our branches including those with significant numbers of Asian- from four to nine, thereby greatly enhancing American residents and businesses. We completed our reach and capabilities in New York. this acquisition on March 30, 2007. We continued to follow our “strategy of strengthening our market share and EXPANDING our network.” PAGE 03 We also continue to pursue our branch expansion digit earnings growth and achieved yet another year strategy. We have received regulatory approval to of record earnings as reflected in these highlights: convert our Hong Kong Representative Office into a • Our net income was $117.6 million, a 12.9% increase full-service branch. Our Hong Kong branch is sched- over 2005, with a 10.7% increase in our diluted net uled to open for business in June of this year and will income per share to $2.27 from $2.05 in 2005; be the first extension of our branch network overseas. • Our net interest income increased by $38.9 million Domestically, we opened a branch in the financial from 2005 to $279.3 million in 2006; district of San Francisco in May 2006. In 2007, we antici- • Our total assets increased to $8.0 billion at pate opening new branches in Ontario, California, December 31, 2006, from $6.4 billion at the end and Bellevue, Washington, and further expanding our of 2005; presence in Texas by converting our current Dallas • Our gross loans increased to $5.7 billion at loan production office into a full-service branch. December 31, 2006, from $4.6 billion at the end Even as we execute our expansion strategy and extend of 2005; the reach of our network, we continue to stay focused • Our deposit balances grew to $5.7 billion at on our mission of seeking strong financial results. In December 31, 2006, compared to $4.9 billion 2006, we delivered our 13th consecutive year of double at the end of 2005; and • Our net charge-offs were $715,000 for 2006 compared to $2.1 million in 2005. LETTER TO STOCKHOLDERS CONT. In light of these financial achievements, we continue Insurance Corporation. As part of the VITA program, to support and reinvest in the communities that we supported Chinatown Service Center in Los we serve as we have in years past. In 2006, Cathay Angeles and FoodChange in New York City to help Bank Foundation provided approximately $900,000 educate low- and moderate-income persons about in funding to various worthy organizations to help the tax credits to which they are legally entitled and towards economic development, affordable housing, to help them prepare their tax returns.
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