First published in the June 2 print issue of the Pasadena Outlook.
This year marks Cathay Bank’s 60th anniversary.
Founded in 1962 in Los Angeles Chinatown, the bank’s initial focus was to serve the growing and underserved Chinese American community in Los Angeles. Cathay Bank became a publicly traded company, through its holding company Cathay General Bancorp, on Nasdaq in 1990, and by 1999, the bank had expanded its footprint to the East Coast. Today, Cathay Bank remains headquartered in Los Angeles and operates more than 60 branches throughout the U.S., with one branch in Hong Kong and representative offices in Beijing, Shanghai and Taipei.
Some of the bank’s more recent milestones include refreshing the Cathay brand, purchasing HSBC Bank USA West Coast, a mass retail market consumer banking business, surpassing $20 billion in asset size as of December 31, 2021.
Cathay Bank also gives back to its local communities. The Cathay Bank Foundation was founded in 2002 to help raise and administer funds distributed to community-based nonprofit organizations and continues to do so today. To celebrate its many years of achievements and to thank the support of clients and community, Cathay Bank recently hosted a celebratory event in San Marino, California.
Executive Chairman Dunson Cheng and President/CEO Chang Liu attended the event and delivered speeches commemorating the occasion. A press conference was held before the formal dinner and the media interviewed Liu, focusing on the bank’s milestones, achievements and community involvement.
“As part of our many anniversary celebrations, we hosted various events, including an Open House event at every branch from April 18-20, to reconnect with our local communities, clients and prospects. On our diamond anniversary, we stand on the shoulders of our dedicated colleagues past and present who have planted and cultivated the seeds of success as we applaud our Bank’s history, celebrate its present and shape its future,” Liu said.