CATY Cathay General Bancorp

Item 8.01. Other Events.

On May 26, 2021, Cathay General Bancorp (the “Company”) issued a press release announcing that its subsidiary bank, Cathay Bank, has entered into a purchase and assumption agreement with HSBC Bank USA, National Association (“HSBC”), to purchase ten HSBC retail branches in California and additional loans and deposits associated with HSBC’s West Coast mass retail market consumer banking business and retail business banking business.  A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Form 8-K and the exhibit attached to this Form 8-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on estimates, beliefs, projections, and assumptions of management 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 our historical experience and our present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, the Company’s ability to realize anticipated cost savings, economies of scale and/or revenue and business franchise enhancements from the proposed transaction within expected time frames or at all; whether governmental approvals for the proposed transaction will be obtained within expected time frames or at all; whether the other conditions to the closing of the proposed transaction are satisfied; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the proposed transaction, including difficulties in maintaining relationships with employees and customers, may be greater than expected; local, regional, national and international economic and market conditions and events and the impact they may have on customers, assets, and liabilities of the Company and HSBC; the Company’s success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2020, and particularly the discussion of risk factors within that document. Actual results in any future period may also vary from any past results discussed in this Form 8-K and the exhibit attached to this Form 8-K.  Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements.  Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company undertakes no obligation to update or review any forward-looking statement to reflect circumstances, developments or events occurring after the date on which the statement is made or to reflect the occurrence of unanticipated events.