Cathay started reciting the names of the 12 divisions into which, according to Nasir al-Din, the "Cathayans" were dividing the day – and Martini, who of course knew no Persian, was able to continue the list. The names of the 24 solar terms matched as well. The story, soon published by Martini in the "Additamentum" to his Atlas of China, seemed to have finally convinced most European scholars that China and Cathay were the same. Even then, some people still viewed Cathay as distinct from China, as did John Milton in the 11th Book of his "Paradise Lost" (1667). In 1939,
Cathay Bank plans to acquire a 20% stake in First Sino Bank, but the deal fell through due to the companies failing to get approval from the Chinese government. On March 30, 2007, Cathay expanded into New Jersey when it completed its acquisition of United Heritage Bank. In 2007, Cathay Bank converts its Hong Kong Representative office into a full service branch. On January 21, 2015, Cathay General Bancorp, the holding company for Cathay Bank, and Asia Bancshares, the holding company for Asia Bank, N.A., announced that they have entered into a definitive agreement for the merger of Asia Bancshares into Cathay.