general bancorp nasdaq caty industry finance and insurance founded los angeles california u.s. 1962 headquarters los angeles california u.s. key people dunson k. cheng chairman ceo pin tai president & director products banking net income us 161.1 million 2015 1 total assets us 13.3 billion 2015 1 number of employees 1 122 2015 1 website https www.cathaybank.com cathay bank traditional chinese ; simplified chinese ; pinyin gu t i y nh ng is a chinese american bank based in los angeles california . founded in 1962 it has since expanded its network throughout california and into massachusetts new york texas washington illinois new jersey nevada and maryland . additionally it has representative offices in hong kong shanghai and taipei . the headquarters is in chinatown los angeles and there is a corporate center in el monte california . 1 contents 1 history 2 acquisitions 3 references 4 external links history edit cathay bank first opened in 1962 in los angeles chinatown as the first chinese american bank in california . in 1979 it opened its first branch office in monterey park . its first overseas representative office in hong kong was opened in 1985 . in 1999 cathay expanded beyond california by opening a loan production office in houston texas which was converted to a full service branch in 2000 . expansion to new york occurred in 1999 with the acquisition of certain assets of golden city commercial bank . in 2003 branch offices were opened in boston massachusetts and kent washington . cathay merged with general bank in 2003 . in 2006 cathay prevailed in a bidding war with united commercial bank to acquire great eastern bank . cathay also acquired new asia bank in 2006 . cathay bank in chinatown boston . on march 31 2006 announced plans to acquire a 20 % stake in first sino bank but the deal fell through due to the companies failing to get approval from the chinese government . 2 on march 30 2007 cathay expanded into new jersey when it completed its acquisition of united heritage bank . on january 21 2015 cathay general bancorp the holding company for cathay bank and asia bancshares the holding company for asia bank n.a. announced that they have entered into a definitive agreement for the merger of asia bancshares into cathay . 3 the result of the merger increased cathay bank s presence in new york as well as added maryland to its list of service areas . on july 8 2016 cathay announced plans to acquire far east national bank . 4 acquisitions edit first public savings bank 1996 lippo bank s westminster branch 1997 certain assets of golden city commercial bank in new york 1999 general bank 2003 great eastern bank 2006 new asia bank 2006 united heritage bank 2007 asia bank n.a. 2015 far east national bank 2017 pending references edit a b c d cathay bank annual report 2015 pdf . retrieved july 9 2016 . irtani evelyn 2007 03 28 . california bank goes after china . los angeles times . retrieved 2007 03 29 . cathay general bancorp and asia bancshares enter into definitive agreement for merger press release . pr newswire . january 21 2015 . retrieved november 12 2015 . koren james rufus july 8 2016 . cathay bank to buy fellow chinatown lender far east national . los angeles times . retrieved july 9 2016 . external links edit wikimedia commons has media related to cathay bank . cathay bank v t e chinese american banks abacus federal savings bank american continental bank american premier bank asia bank bank of the orient cathay bank chinese american bank east west bank evertrust bank finance factors first american international bank first general bank global commerce bank golden security bank los angeles national bank metrocorp bancshares omni bank california pacific global bank preferred bank southwestern national bank tomato bank united international bank united orient bank universal bank retrieved from https en.wikipedia.org w index.php title cathay bank & oldid 743511951 categories banks based in californiacompanies 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