Cathay General Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's net interest income before provision for credit losses increased $1.8 million, or 2.2%, to $81.1 million during the fourth quarter of 2012 compared to $79.3 million during the same quarter a year ago. The increase was due primarily to the increase in loans and the prepayment and maturity of FHLB advances and securities sold under agreements to repurchase. Income before income tax expense was $43.74 million against $42.313 million a year ago. Net income available to common stockholders for the quarter ended December 31, 2012, was $24.2 million, an increase of $592,000, or 2.5%, compared to a net income available to common stockholders of $23.6 million for the same quarter a year ago. Diluted earnings per share available to common stockholders for the quarter ended December 31, 2012, was $0.31 compared to basic and diluted earnings per share of $0.30 for the same quarter a year ago due primarily to increases in gains on sale of securities, increases in net interest income, decreases in the provision for credit losses, which were partially offset by increases in costs associated with debt redemption and increases in income tax expense. Return on average stockholders' equity was 6.97% and return on average assets was 1.06% for the quarter ended December 31, 2012, compared to a return on average stockholders' equity of 7.33% and a return on average assets of 1.05% for the same quarter a year ago.

For the full year, the company reported net interest income before provision for credit losses of $321.3 million against $313.7 million a year ago. Income before income tax expense was $184.2 million against $152.02 million a year ago. Net income attributable to common stockholders for the year ended December 31, 2012, was $101.0 million, an increase of $17.3 million, or 20.6%, compared to net income attributable to common stockholders of $83.7 million for the same period a year ago due primarily to increases in net interest income, decreases in the provision for loan losses, decreases in prepayment penalties on the repayment of FHLB advances and the prepayment of securities sold under an agreement to repurchase, decreases in FDIC and State assessments, and decreases in operation expenses of affordable housing investments, which were partially offset by increases in income tax expenses, increases in litigation accrual expenses, increases in other real estate owned expenses, increases in salaries and incentive compensation expense, and decreases in gains on sale of securities. Basic and diluted earnings per share were $1.28 compared to $1.06 per share for the same period a year ago. Return on average stockholders' equity was 7.48% and return on average assets was 1.11% for the year ended December 31, 2012, compared to a return on average stockholders' equity of 6.78% and a return on average assets of 0.94% for the year ended December 31, 2011. Book value per common share was $17.12 against $15.75 a year ago.

For the fourth quarter ended December 31, 2012, the company reported net charge-offs of $1.4 million against $4.630 million a year ago.