Cathay: 3Q Earnings Snapshot

LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Wednesday reported third-quarter net income of $69.8 million.

The bank, based in Los Angeles, said it had earnings of 85 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 85 cents per share.

The holding company for Cathay Bank posted revenue of $184.7 million in the period. Its revenue net of interest expense was $152.9 million, falling short of Street forecasts. Four analysts surveyed by Zacks expected $153.9 million.

Cathay shares have fallen 5.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $39.86, a decline of almost 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CATY at https://www.zacks.com/ap/CATY