LOS ANGELES, Dec. 21, 2012 /PRNewswire/ -- Cathay General
Bancorp (the "Company," NASDAQ: CATY), the holding company for
Cathay Bank (the "Bank"), announced today that its board of
directors has appointed Mr. Felix
Fernandez to serve as a director of both the Company and the
Bank. Mr. Fernandez will begin serving as a Class III
director effective January 2, 2013,
and will be eligible for re-election at the 2014 annual meeting of
stockholders of the Company.
Mr. Fernandez has served as a leader at Wells Fargo in various
capacities for over 15 years. In 2011, he retired as a
Corporate Executive Vice President and Regional President of
Community Banking for Wells Fargo in the Northern California region, responsible for up
to 150 branches, $15 billion in
deposits and $1.5 billion in loans,
and 2,700 employees in retail bank and small-to-medium business
lending.
Prior to working at Wells Fargo, Mr. Fernandez served as
Executive Vice President of International Business Banking at State
National Bank in El Paso, Texas,
where he was responsible for the Mexico businesses market, and also served in
various positions at Valley National Bank of Arizona (later a part of Chase Bank).
Mr. Fernandez has been active in community and business
organizations throughout his career, including affiliations with
the United Way, Boys and Girls Club of America, Boy Scouts of
America, Bankers Association for Finance and Trade, and the Greater
Sacramento Chamber of Commerce. His current board service
includes Sacramento State University Enterprise, Inc., Dignity
Health Sacramento Service Region Board, the Crocker Art Museum, and
most recently the California Bankers Association.
"On behalf of the board of directors, I welcome Felix to
Cathay," said Mr. Dunson K. Cheng,
Chairman of the Board, President, and Chief Executive
Officer. "Felix brings with him valuable skills and diverse
experiences, along with a leadership track record in the banking
industry, all of which we believe should help further
enhance our board's capacity to guide the Company's future growth
and development."
Upon the effective date of this new appointment, the Company
will have 12 directors, 7 of whom will be considered to be
independent.
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. Cathay Bank's website is found at
http://www.cathaybank.com. Cathay General Bancorp's website is
found at http://www.cathaygeneralbancorp.com.
SOURCE Cathay General Bancorp