October 13, 2009 (FinancialWire) — Cathay General Bancorp (NASDAQ: CATY) said it has launched a public offering for gross proceeds up to $70.5 million of its common stock. BofA Merrill Lynch (NYSE: BAC) is acting as sole bookrunner.

The company has granted the underwriter a 30-day option to purchase up to an additional $10.5 million of its common stock to cover over-allotments, if any. BofA Merrill Lynch is acting as sole bookrunner for the offering.

Los Angeles-based Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank that operates 31 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 Shanghai and in Taipei.

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