Preferred Bank Increases Quarterly Cash Dividend

Globe Newswire 6-Dec-2018 4:01 PM

LOS ANGELES, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ:PFBC), an independent commercial bank focusing on the diversified California market, today reported that the Board of Directors has declared a quarterly cash dividend of $0.30 per share. This represents an increase of $0.05 per share or 20% over the prior quarterly dividend and reflects the continued growth in earnings of Preferred Bank. The dividend is payable on January 22, 2019 to holders of record on January 8, 2019.

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. 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:           
Edward J. Czajka
Executive Vice President 
Chief Financial Officer
(213) 891-1188

AT FINANCIAL PROFILES:
Tony Rossi
General Information
(310) 622-8221
trossi@finprofiles.com

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