Cathay Bank for first-gen and Chinese American households
The oldest operating U.S. bank founded by Chinese Americans. Chinatown roots, multistate branches, and Pacific Rim offices for Greater China households and businesses.
Educational bank profile for first-gen readers — not a ranking or personal recommendation.
Overview
Cathay Bank opened in 1962 in Los Angeles Chinatown to give Chinese American families and businesses banking access mainstream institutions often denied. It is widely described as the oldest operating American bank founded by Chinese Americans. Parent Cathay General Bancorp trades as Nasdaq: CATY; consolidated assets were about $24.7 billion as of June 30, 2026. President and CEO Chang M. Liu leads the franchise; Dunson K. Cheng remains executive chairman. The brand angle today is Chinese American community commercial banking with coast-to-coast U.S. branches plus Hong Kong and Greater China representative offices: relationship depth more than a national digital megabank story.
Strengths
- Oldest Chinese American bank identity and deep Los Angeles Chinatown founding story
- Over 60 U.S. branches across nine states with bilingual relationship banking in core markets
- Hong Kong branch plus Beijing, Shanghai, and Taipei representative offices for Pacific Rim commercial ties
- Commercial, CRE, SBA, trade finance, and consumer products sized for immigrant-owned firms and households
Footprint
Headquarters in Los Angeles. Year-end 2025 materials counted branches across Southern California, Northern California, New York, Washington, Illinois, Texas, Maryland, Massachusetts, Nevada, and New Jersey, plus a Hong Kong branch and representative offices in Beijing, Shanghai, and Taipei (counts change with openings and closures). Not digital-only.
Services
- Consumer banking
- Small business
- Commercial / middle market
- Wealth / private banking
- Mortgages
- SBA lending
- Trade finance
- International wires
Personal and business deposits and lending, mortgages, SBA, wealth/investment offerings, and international banking tools (wires, FX, letters of credit) aimed at Chinese American and Greater China-connected clients.
Best for
- China / Greater China corridor
- Immigrant-owned small business
- Cross-border and trade complexity
- Hands-on branch banking
- Language access and cultural fit
Best fit when Chinese American or Greater China community banking is the job: bilingual branches, Chinatown-rooted trust, and Pacific Rim commercial desks matter more than the largest Asian American balance sheet. Strong for immigrant and second-gen owners who want CRE/SBA/trade support without leaving a Chinese American franchise. Compared with East West, Cathay is the older founding story at smaller scale (~$25B assets vs East West’s ~$80B+), with a Hong Kong branch and Greater China reps rather than East West’s mainland China commercial bank subsidiary.
Less ideal for: Households that only need a national digital checking app with no Chinese American or Asia commercial relationship, or people outside Cathay’s nine-state branch map who will never use a branch or Asia desk.
Compelling offers
Checked against bank pages as of July 28, 2026. Bonuses, fee waivers, and rate specials change often. Confirm eligibility and end dates on the bank’s site before you plan around them.
Business checking & loan bundle (through Dec 31, 2026)
New business clients (new tax ID to Cathay) who open Commercial Analysis Checking with at least $25,000 in new funds can get select cash-management fee waivers plus waived incoming wires and select outgoing wires for six analysis cycles. Bundling can unlock Smart Capital or Premium Smart Capital loans with promotional pricing (WSJ Prime +0.50%, with a further 0.50% discount when autopay is set up).
Loan offers need the checking relationship, auto-debit setup, and credit approval. Opening checking does not guarantee a loan. Confirm live tiers and disclosures with a relationship banker.
Listed window through December 31, 2026.
Next steps
- Immigrant-Owned Small Business Financing Basics
Ownership maps, SBA and bank eligibility, personal guarantees, and backup capital for diaspora restaurants, agencies, clinics, and digital businesses when federal rules and family co-signing overlap.
- Small Business Banking When Your Books Don't Match Mainstream Templates
Why cash-heavy diaspora shops, informal family capital, and bilingual receipts trigger bank friction, and how community lenders, CDFIs, and clean charts of accounts reduce denials before growth stalls.
- How to Build Generational Wealth as a Child of Immigrants
A practical stack for turning income into lasting family security when you are building without an inherited playbook.
- Family Support Budget Calculator
Map parent support, remittances, and sibling help against housing, debt, emergency savings, and retirement so family obligations stay visible in your monthly plan.
- Remittance Quote Worksheet
Copy two provider disclosures side by side to compare total paid, amount delivered, effective exchange rate, funding method, and delivery time.
- Household dashboard
Track family support beside U.S. bills and savings once the account is open.
- All planners
Send corridors and inheritance scenarios when banking is only one piece of the file.
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Related bank profiles
- East West Bank — The largest Asian American–owned bank by scale, built as a U.S.–Asia bridge for Chinese American communities and cross-border commercial clients.
- Hanmi Bank — The first Korean American bank in the U.S., still oriented to immigrant and multi-ethnic small-business communities in Koreatown and other Asian American MSAs.
- Bank of Hope — The largest Korean American bank by franchise scale — a super-regional built from Koreatown predecessors and expanded into a multistate multicultural bank.