CATHAY GENERAL BANCORP (NASDAQ:CATY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Cathay General Bancorp (the “Company”) announced that Donald S. Chow has retired from his position as Chief Credit Officer of Cathay Bank on December 15, 2017. Mr. Chow served as Chief Credit Officer from 2014 through the present. He will continue to serve as an Executive Vice President of Cathay Bank for a transition period that is anticipated to end on or about June 30, 2018 but will no longer be a designated executive officer of Cathay Bank.
Effective December 16, 2017, the Board of Directors of Cathay Bank elected Mark H. Lee as the Chief Credit Officer and a designated executive officer of Cathay Bank.
Mark H. Lee, age 55, joined Cathay Bank in April 2017 as Executive Vice President, Special Advisor to the Office of the President. Before joining Cathay Bank, Mr. Lee was Senior Executive Vice President and Chief Credit Officer at BBCN Bank from 2009 to 2016 prior to his tenure at Bank of Hope as Senior Executive Vice President, Head of Corporate Banking in August 2016, and was Senior Vice President and Deputy Chief Credit Officer at East West Bank from 2002 to 2009. Mr. Lee has over 27 years of banking experience and held senior leadership roles in credit administration and loan review, loan operations, and asset based lending. There are no family relationships between Mr. Lee and any director or executive officer of the Company.
About CATHAY GENERAL BANCORP (NASDAQ:CATY)
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp. It also owns the common stock of over five statutory business trusts created for issuing capital securities. The Bank primarily services individuals, professionals and small to medium-sized businesses in the local markets and provides commercial mortgage loans, commercial loans, small business administration (SBA) loans, residential mortgage loans, real estate construction loans, home equity lines of credit and installment loans to individuals for automobile, household and other consumer expenditures. The Bank offers passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.