Cathay Bank opens branch in Las Vegas
Cathay General Bancorp said Tuesday it has opened its first branch in Las Vegas as the Asian-American bank continues to expand its branch network.
The Cathay Bank branch in Las Vegas is at 6110 Spring Mountain Road.
The Los Angeles-based parent of Cathay Bank recently announced plans to open three branches including the one in Las Vegas.
“We are pleased to be able to expand our presence into the Las Vegas community with the establishment of this branch,” Dunson K. Cheng, president and CEO of Las Angeles-based Cathay Bank, said in a statement.
Founded in 1962, Cathay Bank operates 50 branches in eight states, one in Hong Kong, as well as a representative office in Taipei and Shanghai.
For the first quarter, Cathay General reported net income of $23.7 million, or 30 cents a share, down from $24.8 million, or 32 cents a share, from the same period a year ago.
Analysts surveyed by Yahoo Finance expect the Cathay Bank’s parent company to post second-quarter earnings of 35 cents a share on revenue of $92.2 million.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.
