LOS ANGELES, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), ("the Bank"), an independent commercial bank, today announced that the Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, ("the Plan"). Thus far in the Plan, the Bank has repurchased $72.5 million of its common stock over the latter half of 2023 and into 2024, however regulatory approval expired in July of 2024. As a state, non-member Bank that issues its common stock at ...

Edwin Tan/E+ via Getty Images Some companies end up being gifts that keep on giving. One good example of this that I could point to involves a rather small regional bank by the name of Preferred Bank (NASDAQ:PFBC). In the past, I have written about the institution, which emphasizes serving the Chinese American market, on two separate occasions. In my last article, which was published in March of this year, I stated that the company still represented a solid prospect for investors. This led me to reaffirm th ...

Thank you. Gary Tenner Is this better now? Edward Czajka Yes. Right. Interest bearing demand deposits seem to increase pretty meaningfully during the quarter. Just curious if that growth is from existing clients or new account growth, or whether that was migration. I'm just kind of curious what rates are there relative to the portfolio. Edward Czajka That's a combination of both. We do see, obviously, people moving from noninterest-bearing to interest-bearing due to the rate environment, although that -- as ...

For the quarter ended June 2024, Preferred Bank (PFBC) reported revenue of $69.51 million, down 9% over the same period last year. EPS came in at $2.48, compared to $2.61 in the year-ago quarter. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Here is how Preferred Bank performed in the just reported quarter in terms of ...

Preferred Bank (PFBC) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.39 per share. This compares to earnings of $2.61 per share a year ago. These figures are adjusted for non-recurring items. Preferred Bank, which belongs to the Zacks Banks - West industry, posted revenues of $69.51 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.47%. This compares to year-ago revenues of $76.41 million. The company has topped consensus reve ...

Highlights for the Quarter: Li Yu, Chairman and CEO, commented, "I am pleased to report Preferred Bank's second quarter net income of $33.6 million or $2.48 per fully diluted share. For the quarter, total loans grew $103 million or 1.95% on a linked quarter basis. Deposits also grew $77 million or 1.33% linked quarter. "During the quarter, we have charged-off $9.0 million of loans that were fully reserved for at the end of the previous quarter. Provision expense for the quarter was $2.5 million. The allowan ...

| --- | --- | --- | --- | --- | |--------------------------------------------------------|---------------|-------|-------|-----------| | | | | | | | Commercial & Industrial | 2 | | | 7 | | Mini-perm Real Estate | - | | | - | | Total Recoveries | 2 | | | 7 | | Net Charge-Offs | 12,407 | | | 117 | | Provision for Credit Losses: | 6,900 | | | 10,000 | | Balance at End of Period | $ 72,848 | | $ | 78,355 | | Average Loans Held for Investment | $ 5,295,175 | | $ | 5,067,870 | | Loans Held for Investment at End o ...

LOS ANGELES, July 10, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the second quarter ended June 30, 2024 after the close of market on Thursday, July 25, 2024. On the following day, Friday, July 26, 2024, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific). The call will be simultaneously broadcast over the Internet. Interested participants and inve ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Preferred Bank (PFBC) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. Zacks Consensus Estimate Revenues are expected to be $70.55 million, down 7.7% from the year-ago quarter. Estimate Revisions Trend Earnings Whisper ...

| --- | --- | |--------------------------|------------------------| | | | | AT THE COMPANY: | AT FINANCIAL PROFILES: | | Edward J. Czajka | Jeffrey Haas | | Executive Vice President | General Information | | Chief Financial Officer | (310) 622-8240 | | (213) 891-1188 | PFBC@finprofiles.com | LOS ANGELES, June 20, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash divid ...