Cathay General Bancorp (NASDAQ:CATY) Q4 2022 Earnings Call Transcript

Page 4 of 4

Heng Chen: Hopefully not. I mean the €“ this is the promotional rate program. And part of it is you have to bring €“ if it’s a $100,000 CD, you have to bring half €“ at least half of it. It has to be non-Cafe funds. So, outside of a normal promotion environment, I think we will be in the mid-3s for CD renewals for retail depositors. So, for large corporate depositors, we are higher than 4.2%, but that’s the market, and we have been doing that in the fourth quarter.

Andrew Terrell: Okay. Got it. Thank you for taking the questions. I appreciate it.

Heng Chen: Thank you.

Operator: There are no further questions at this time. Thank you for your participation. I will now turn the call back over to Cathay General Bancorp’s management for closing remarks.

Chang Liu: I want to thank everyone for joining us on our call and we look forward to speaking with you at our next quarterly earnings release call.

Operator: Ladies and gentlemen, thank you for your participation in today’s conference. This concludes the presentation. You may now disconnect. Good day.

Follow Cathay General Bancorp (NASDAQ:CATY)

Page 4 of 4