Preferred Bank Increases Quarterly Cash Dividend
23 December 2021 - 10:13AM
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 dividend of $0.43
per share, payable on January 21, 2022 to holders of record on
January 7, 2022. This dividend represents an increase of 13.2% over
the previous dividend level of $0.38 per share.
Chairman and CEO Li Yu commented, “We are very pleased to
increase the dividend as it is a direct reflection of the strong
performance of the Bank through the pandemic year.”
About Preferred Bank
Preferred Bank (the “Bank”) is one of the larger independent
commercial banks headquartered in California. The Bank is chartered
by the State of California, and its deposits are insured by the
Federal Deposit Insurance Corporation, or FDIC, to the maximum
extent permitted by law. The Bank conducts its banking business
from its main office in Los Angeles, California, and through eleven
full-service branch banking offices in California (Alhambra,
Century City, City of Industry, Torrance, Arcadia, Irvine,
Diamond Bar, Pico Rivera, Tarzana and San Francisco (2)) and one
branch in Flushing, New York. In addition, the Bank operates a loan
production office in the Houston suburb of Sugar Land, Texas.
Preferred Bank offers a broad range of deposit and loan products
and services to both commercial and consumer customers. The
Bank provides personalized deposit services as well as real estate
finance, commercial loans and trade finance to small and mid-sized
businesses, entrepreneurs, real estate developers, professionals
and high net worth individuals. Although originally founded as a
Chinese-American Bank, Preferred Bank now derives most of its
customers from the diversified mainstream market but does continue
to benefit from the significant migration to California of ethnic
Chinese from China and other areas of East Asia.
AT THE
COMPANY: |
AT
FINANCIAL PROFILES: |
Edward J. Czajka |
Jeffrey Haas |
Executive Vice President |
General Information |
Chief Financial Officer |
(310) 622-8221 |
(213) 891-1188 |
PFBC@finprofiles.com |
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