Preferred Bank Reports Quarterly Results

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$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 ...