Cathay General Bancorp Announces Public Offering of Common Stock
13 October 2009 - 7:11AM
PR Newswire (US)
LOS ANGELES, Oct. 12 /PRNewswire-FirstCall/ -- Cathay General
Bancorp (the "Company") (NASDAQ:CATY), the holding company for
Cathay Bank, today announced that it has commenced a public
offering for gross proceeds up to $70.5 million of its common
stock. The Company has granted the underwriter a 30-day option to
purchase up to an additional $10.5 million of its common stock to
cover over-allotments, if any. BofA Merrill Lynch is acting as sole
bookrunner for the offering. The shares of common stock to be
issued pursuant to the offering will be made pursuant to a
prospectus supplement to the Company's prospectus dated September
3, 2009, filed as part of the Company's effective registration
statement relating to these securities. This press release is
neither an offer to sell, nor a solicitation of an offer to buy,
any securities of the Company, and there shall not be any sale of
securities of the Company in any state or jurisdiction in which
such an offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction. When available, copies of the preliminary prospectus
supplement and the accompanying prospectus relating to these
securities may be obtained by contacting BofA Merrill Lynch,
Attention: Prospectus Department, 4 World Financial Center, New
York, NY 10080. ABOUT CATHAY GENERAL BANCORP Cathay General Bancorp
is the holding company for Cathay Bank, a California
state-chartered bank. Founded in 1962, Cathay Bank offers a wide
range of financial services. Cathay Bank currently operates 31
branches in California, eight branches in New York State, one in
Massachusetts, two in Texas, three in Washington State, three in
the Chicago, Illinois area, one in New Jersey, one in Hong Kong,
and a representative office in Shanghai and in Taipei.
FORWARD-LOOKING STATEMENTS AND OTHER NOTICES The information
contained in this press release is not intended as a solicitation
to buy Cathay General Bancorp stock or any other securities and is
provided for information only. Statements made in this press
release, other than statements of historical fact, are
forward-looking statements within the meaning of the applicable
provisions of the Private Securities Litigation Reform Act of 1995
regarding management's beliefs, projections, and assumptions
concerning future results and events. These forward-looking
statements may include, but are not limited to, such words as
"aims," "anticipates," "believes," "could," "estimates," "expects,"
"hopes," "intends," "may," "plans," "projects," "seeks," "shall,"
"should," "will," "predicts," "potential," "continue," and
variations of these words and similar expressions. Forward-looking
statements are based on estimates, beliefs, projections, and
assumptions and are not guarantees of future performance. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from the Company's historical experience and the Company's present
expectations or projections. Such risks and uncertainties and other
factors include, but are not limited to, adverse developments or
conditions related to or arising from: significant volatility and
deterioration in the credit and financial markets; adverse changes
in general economic conditions; the effects of the Emergency
Economic Stabilization Act, the American Recovery and Reinvestment
Act, and the Troubled Asset Relief Program (TARP) and any changes
or amendments thereto; deterioration in asset or credit quality;
the availability of capital; the impact of any goodwill impairment
that may be determined; acquisitions of other banks, if any;
fluctuations in interest rates; the soundness of other financial
institutions; expansion into new market areas; earthquakes,
wildfires, or other natural disasters; competitive pressures;
changes in laws, regulations, and accounting rules, or their
interpretations; legislative, judicial, or regulatory actions and
developments against the Company; and general economic or business
conditions in California and other regions where Cathay Bank has
operations, including, but not limited to, adverse changes in
economic conditions resulting from the continuation or worsening of
the current economic downturn. These risks and uncertainties and
other factors are further described in the Company's Current Report
on Form 8-K filed on September 9, 2009, as amended on September 23,
2009 (Item 8.01 in particular), the Company's other reports filed
with the SEC, and other filings the Company makes with the SEC from
time to time, including the prospectus related to the offering
described above. Actual results in any future period may also vary
from the past results discussed in this press release. Given these
risks and uncertainties, readers are cautioned not to place undue
reliance on any forward-looking statements, which speak to the date
of this press release. Cathay General Bancorp has no intention and
undertakes no obligation to update any forward-looking statement or
to publicly announce any revision of any forward-looking statement
to reflect future developments or events, except as required by
law. Cathay General Bancorp's filings with the SEC are available at
the website maintained by the SEC at http://www.sec.gov/, or by
request directed to Cathay General Bancorp, 9650 Flair Drive, El
Monte, California 91731, Attention: Investor Relations (626)
279-3286. DATASOURCE: Cathay General Bancorp CONTACT: Heng W. Chen
of Cathay General Bancorp, +1-626-279-3652 Web Site:
http://www.cathaybank.com/
Copyright