Preferred Bank Announces Approval of Stock Repurchase and Cash Dividend

Core Viewpoint - Preferred Bank has received regulatory approval for a $125 million stock repurchase plan, with an initial tranche of $50 million buybacks, and has declared a quarterly cash dividend of $0.75 per share [1][2]. Company Overview - Preferred Bank is one of the largest independent commercial banks in California, chartered by the State of California, and its deposits are insured by the FDIC [2]. - The bank operates from its main office in Los Angeles and has twelve full-service branches in California, as well as branches in New York and Texas [2]. - Preferred Bank offers a wide range of deposit and loan products to commercial and consumer customers, focusing on small and mid-sized businesses, entrepreneurs, and high net worth individuals [2]. Financial Performance - The bank's strong balance sheet and superior profitability metrics enable it to repurchase its own stock, reflecting its commitment to providing value to shareholders [2].