Los Angeles, Calif., Chicago, IL, July 6: Cathay General Bancorp ("Cathay", NASDAQ: CATY), the holding company for Cathay Bank, and New Asia Bancorp, Inc. ("New Asia Bancorp"), the holding company for New Asia Bank, announced today that they had entered into an agreement for Cathay to acquire New Asia Bancorp and New Asia Bank, which was founded in 1987, for $23.46 million in cash and stock. As of March 31, 2006, New Asia Bancorp had total assets of approximately $140 million, total loans of approximately $110 million, total deposits of approximately $118 million, and total shareholders equity of approximately $11.9 million.