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Welcome to Cathay Bank

Let’s get acquainted!

For nearly six decades, we have been opening doors to financial opportunities for customers like you. We’re excited that you will soon be part of our Cathay Bank family.

In February 2022, your accounts with HSBC Bank USA, N.A. (HSBC) will become Cathay Bank accounts. Please refer to this page often to learn about the transition and answer questions you may have. During the transition and throughout your relationship with Cathay Bank, we will be here to offer you the highest level of service. Until the products and services are fully converted, please continue to conduct your banking business at HSBC as usual.

May 2021

Cathay Bank announces acquisition of 10 branches and select West Coast loans and deposits from HSBC.
 

December 2021

Cathay Bank will mail Welcome Kit to consumers and businesses.

January 2022

Cathay Bank will mail details about online banking, debit cards, checks, lines of credit, and account numbers.

February 2022

The acquisition will take place, and HSBC customers will be converted to Cathay Bank.

Read our press release about acquiring branches and select West Coast loans and deposits from HSBC.

We empower our communities, one customer at a time.

 

Frequently Asked Questions

When will HSBC customers become customers of Cathay Bank?

We expect the transaction to close on February 4, 2022. We will communicate updates in the coming weeks and months.

We will provide details in advance about the transition of accounts and services, to help you learn about the Cathay Bank products and services that will be available to you, and any differences in Cathay Bank policies and operations that may affect your account and transactions.

I am an HSBC customer. Can I do my banking at a branch of Cathay Bank now?

No, HSBC customers will continue to bank at HSBC branches as usual. Customers will receive notification as to when they will be able to conduct transactions at Cathay Bank branches.

I am a Cathay Bank customer. Can I do my banking at a branch of HSBC Bank now?

No, Cathay Bank customers will continue to bank only at Cathay Bank branches as usual.

Will there be any change to accounts, loans or services?

HSBC will continue to offer its products and services to its customers during this time of transition. HSBC and Cathay Bank will communicate any updates in the coming weeks and months.

Will there be changes to how I access my account information?

There are currently no changes to how you access your HSBC USA accounts. HSBC and Cathay Bank will communicate any updates in the coming weeks and months.

Will deposit accounts continue to be insured by the FDIC?

Yes. Your deposits will continue to be insured by the Federal Deposit Insurance Corporation (FDIC) to the maximum coverage limit permitted by law per an FDIC-insured bank.

What happens to FDIC insurance if I have deposits at both banks?

HSBC and Cathay Bank are both FDIC-insured banks. You will receive a letter in late December 2021 which will include an explanation of how FDIC insurance applies.

Who should HSBC customers contact for additional questions?

HSBC’s public website, https://www.about.us.hsbc.com/movingforward, will be updated with information about HSBC’s progress as we work through the transaction.

You can also continue to refer to this page https://www.cathaybank.com/welcome for information about the transition to Cathay Bank.

After you receive your Welcome Kit, you can contact Cathay Bank’s Customer Care Center at 1-800-922-8429 with questions you may have about the transition.

Cathay Bank

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