Cathay General Bancorp announced that Dunson K. Cheng has notified the company of his intention to retire from his position as President and Chief Executive Officer of the company, effective September 30, 2016. Mr. Cheng will continue as Executive Chairman of the company. In accordance with the company's succession plan, the Boards of Directors of the company appointed Mr. Pin Tai as CEO and President of the company and Mr. Cheng as Executive Chairman of the company, effective October 1, 2016.

Tai is currently the President of Cathay Bank. Pin has served in several key management roles during his 17-year tenure with Cathay. He was instrumental in the development of East Coast footprint and, under his direction while serving as the Chief Lending Officer.

Dunson K. Cheng has led the Company and Cathay Bank for more than 30 years. He became a Director of Cathay Bank in 1982 and has been a Director of the company since it was formed as a bank holding company in 1990.