On August 17, 2017, the board of directors of Cathay General Bancorp increased the number of directors from twelve to thirteen and elected Pin Tai as a director. He will serve as a Class I director of Cathay General Bancorp effective August 22, 2017. The Class I directors will hold office until the 2018 annual meeting of stockholders and their successors are elected and qualified. Mr. Tai has been the Chief Executive Officer and President of Cathay General Bancorp and Chief Executive Officer of Cathay Bank since October 1, 2016, and President and a Director of Cathay Bank since April 1, 2015.