Cathay Bank
Cathay Bank is a mid-sized bank headquartered in Los Angeles, CA. The bank operates 53 branches in 7 states (New Jersey, Texas, Washington, California, Illinois, Massachusetts and New York). Cathay Bank has deposits of $7.4 billion, and was established in April 1962.
This bank is FDIC insured - all deposits are protected for up to $250,000. Products offered by the bank include: Cathay CD, Cathay CD 50k, Smart Money Market, Regular Savings, Student Savings and Cathay ValuePlus.
Current Cathay Bank Rates
| Name | Term | APY | Min Deposit | |
| Cathay CD | 1 month | 0.05 % | $2,500 | |
| 2 months | 0.10 % | $2,500 | ||
| 3 months | 0.15 % | $2,500 | ||
| 6 months | 0.40 % | $2,500 | ||
| 1 year | 0.60 % | $2,500 | ||
| 2 years | 0.70 % | $2,500 | ||
| 3 years | 0.80 % | $2,500 | ||
| 5 years | 0.80 % | $2,500 | ||
| Cathay CD 50k | 1 month | 0.10 % | $50,000 | |
| 2 months | 0.15 % | $50,000 | ||
| 3 months | 0.20 % | $50,000 | ||
| 6 months | 0.40 % | $50,000 | ||
| 1 year | 0.60 % | $50,000 | ||
| 2 years | 0.70 % | $50,000 | ||
| 3 years | 0.90 % | $50,000 | ||
| 5 years | 0.90 % | $50,000 |
About Cathay Bank
In 1962, Cathay Bank opened for business with the mission of providing financial services to the growing but underserved Chinese-American community in the greater Los Angeles area, thus becoming the first Chinese-American bank in Southern California. Recognizing that the community it served was part of a more diverse one, Cathay Bank adopted the motto "An Open Door for All." Its rapid expansion was fueled by successive waves of immigration, burgeoning trade between America and Asia, and the economic development of the surrounding community.
Since its inception, when it only had $550,000 in capital, Cathay Bank has thrived and is now part of a publicly traded financial institution with stockholder equity of approximately $1.27 billion and total assets of $11.74 billion. Its service network extends from the West Coast to New York and Massachusetts on the Eastern Seaboard, north to the state of Washington, and south to Texas. Overseas, it has a presence in the three important commercial centers in the Asian-Pacific Rim-Taipei, Shanghai, and Hong Kong.
Cathay General Bancorp (NASDAQ: CATY) 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 thirty-one 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 Taipei and in Shanghai.