Cathay General Bancorp, the holding company of Cathay Bank, is ranked #19 on the Forbes Best Banks in America 2021 list. The company has achieved this distinction — placing as one of the Top 20 banks — for six years in a row.
“We are proud to receive this recognition, reaffirming our continued focus on excellence for our customers and creating value for stockholders,” said Chang M. Liu, President and CEO. “This accolade is a testament to the diligence of our team members, working hard to help our customers achieve their dreams and communities to thrive — even in these uncertain times.”
The Forbes Best Banks in America 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 ranks the top 100 largest U.S. banks and thrifts by assets, using data collected by S&P Global Market Intelligence. This list represents $14.4 trillion or 81 percent of the total U.S. bank assets, and excludes those institutions with a parent company based outside of the U.S.
From Forbes. © 2021 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.