Preferred Bank

Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial, and other income producing properties. Its business and consumer products include checking, savings, money market, and certificate of deposit accounts. The firm also offers treasury management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing, and ACH credit origination. The company was founded by Li Yu on December 23, 1991 and is headquartered in Los Angeles, CA.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Preferred Bank achieves record earnings in Q4 2022 amidst challenges

Preferred Bank delivered strong financial results in Q4 2022, marked by record net income and a dividend increase.
While facing challenges such as deposit cost pressures and expense increases, the bank remains focused on credit quality and efficiency.
Opportunities for growth through expense management, branch expansions, and capital priorities are key areas of focus for 2023.
Maintaining a cautious approach to economic uncertainties while pursuing strategic initiatives positions the bank for continued success.

Preferred Bank reports solid Q1 earnings, focuses on liquidity and risk management

Preferred Bank's Q1 performance reflects resilience and strategic planning amidst challenges, with a focus on maintaining liquidity and underwriting standards. The bank's proactive measures to enhance liquidity, manage risks, and address customer feedback position it well for future growth and stability.

Preferred Bank posts strong Q2 earnings amidst growth challenges

Preferred Bank's Q2 performance reflects solid financial health, with a focus on managing costs and optimizing profitability.
While facing challenges in the interest rate environment and expense management, the bank's strengths in credit quality and cash flow position it well for growth.
Opportunities lie in leveraging its strong financial position for strategic initiatives and maintaining a competitive edge in the market.

Preferred Bank reports solid Q3 earnings amidst loan growth challenges

Preferred Bank's Q3 performance showcased solid earnings, stable credit quality, and controlled costs. While facing challenges in loan growth and interest rate uncertainty, the bank's strong capital position and focus on profitability present opportunities for future growth and stability.

Preferred Bank reports robust earnings, navigates challenges with strategic focus

Preferred Bank's Q4 2023 earnings call highlighted strong financial performance, proactive capital allocation strategies, and a focus on balancing growth and shareholder returns. While challenges such as potential net interest income decline and credit quality concerns exist, opportunities for growth through increased loan demand and capital optimization are present. The bank's strategic initiatives in 2024 aim to navigate uncertainties and drive long-term value creation.

Preferred Bank posts solid Q1 results amidst strategic expansion

Preferred Bank's Q1 2024 performance reflects stability and growth, supported by strategic expansion and risk management efforts.
While challenges like credit risk management persist, the bank's focus on asset quality and customer relationships positions it well for future opportunities.
Overall, Preferred Bank's strong financial performance, coupled with prudent risk management and strategic initiatives, sets a positive trajectory for growth.

Preferred Bank posts strong Q2 earnings amidst growth opportunities

Preferred Bank's Q2 performance reflects solid financial metrics, strategic risk management, and a focus on expanding its client base.
While facing challenges such as limited loan growth and increased nonperforming loans, the bank is well-positioned to leverage opportunities for growth.
By maintaining financial strength, managing risks effectively, and capitalizing on growth opportunities, Preferred Bank aims to sustain its positive performance.

Preferred Bank posts strong Q3 earnings amidst loan management focus

Preferred Bank delivered strong financial performance in Q3 2024, driven by robust net income and effective loan management.
While facing challenges such as increased criticized loans and higher noninterest expenses, the bank remains focused on optimizing operations.
Opportunities lie in improving efficiency, optimizing deposit management, and leveraging anticipated rate cuts for growth.
Continuous monitoring and strategic decision-making will be key in navigating the evolving financial landscape.

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Preferred Bank (PFBC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Preferred Bank (PFBC) Upgraded to Buy: What Does It Mean for the Stock?

Preferred Bank (NASDAQ:PFBC ) Q1 2024 Earnings Conference Call April 23, 2024 2:00 PM ET Company Participants Jeff Haas - Executive Vice President of General Information Li Yu - Chairman & Chief Executive Officer Edward Czajka - Chief Financial Officer Wellington Chen - President & Chief Operating Officer Nick Pi - Chief Credit Officer Conference Call Participants Matthew Clark - Piper Sandler Andrew Terrell - Stephens David Feaster - Raymond James Operator Good day and welcome to the Preferred Bank First Quarter 2024 Earnings Call. All participants will be in listen-only mode.

Preferred Bank (PFBC) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for Preferred Bank (PFBC) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Preferred Bank (PFBC) Q1 Earnings: A Look at Key Metrics

LOS ANGELES, April 11, 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 first quarter ended March 31, 2024 before the open of market on Tuesday, April 23, 2024. That same day, 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.

Preferred Bank Announces 2024 First Quarter Earnings Release and Conference Call

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Preferred Bank (PFBC), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.

Unlocking Q1 Potential of Preferred Bank (PFBC): Exploring Wall Street Estimates for Key Metrics

LOS ANGELES, March 20, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline today by Preferred Bank, (NASDAQ: PFBC), please note that in the first paragraph, the dividend payable date should read April 19, 2024, and the record date should read April 5, 2024. The corrected release follows:

CORRECTION – Preferred Bank Announces Quarterly Cash Dividend

Preferred Bank's shares have underperformed the broader market, but revenue and profits have remained positive. The bank's 2023 fiscal year showed positive growth in net interest income and net income, despite some weakness in non-interest income. Deposits and loan values have increased, while securities have decreased. The bank is trading at a low price-to-earnings multiple, but is expensive relative to book value.

Preferred Bank Still Remains A Solid Prospect

Preferred Bank (PFBC) Q4 2023 Earnings Call Transcript

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The headline numbers for Preferred Bank (PFBC) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Preferred Bank (PFBC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

LOS ANGELES, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended December 31, 2023. Preferred Bank (“the Bank”) reported net income of $35.8 million or $2.60 per diluted share for the fourth quarter of 2023. This represents a decrease in net income of $3.7 million or 9.4% from the same quarter last year and down from the third quarter of 2023 as well. The primary driver of the decrease compared to both periods was net interest income which decreased by $4.7 million or 6.4% from the same period last year and was down by $3.6 million or 4.9% from the prior quarter. In addition to that, the Bank incurred a $929,000 loss this quarter on the sale of approximately $29 million of investment securities. The decline in net interest income was due to interest expense on deposits, which increased compared to both comparable periods. Partially offsetting the decrease in net interest income was non-interest expense, which came in lower than both comparable periods.

Preferred Bank Reports Quarterly and Annual Results

Beyond analysts' top -and-bottom-line estimates for Preferred Bank (PFBC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.

Wall Street's Insights Into Key Metrics Ahead of Preferred Bank (PFBC) Q4 Earnings

Preferred Bank (PFBC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Preferred Bank (PFBC) Q4 Earnings Expected to Decline

LOS ANGELES, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), an independent commercial bank, today announced that the Board of Directors has approved the repurchase of another $50 million of the Bank's common stock. The shares will be purchased in the open market.

Preferred Bank Announces Continuation of Share Repurchase Plan

LOS ANGELES, Jan. 08, 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 fourth quarter ended December 31, 2023 after the close of market on Wednesday, January 24, 2024. On the following day, Thursday, January 25, 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.

Preferred Bank Announces 2023 Fourth Quarter Earnings Release and Conference Call

LOS ANGELES, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today reported that the Board of Directors has increased the quarterly cash dividend to $0.70 per share from the previous level of $0.55 per share, an increase of 27.3%. The dividend is payable on January 22, 2024 to holders of record on January 8, 2024.

Preferred Bank Announces Increased Cash Dividend

Preferred Bank (PFBC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Preferred Bank (PFBC) Soars 5.8%: Is Further Upside Left in the Stock?

Preferred Bank is facing challenges in the banking sector, with expensive bank funding and a decline in loan growth. The bank's net interest margin remains high but is expected to decline in the coming quarters. PFBC has a strong history of shareholder remuneration through share buybacks and increasing dividends, but the current price is not favorable for buying.

Preferred Bank: Solid Bank But Not At A Discount

Preferred Bank (NASDAQ:PFBC ) Q3 2023 Results Conference Call October 18, 2023 2:00 PM ET Company Participants Jeff Haas - EVP, General Information Li Yu - Chairman, CEO Edward Czajka - CFO Nick Pi - Chief Credit Officer Conference Call Participants Matthew Clark - Piper Sandler Tim Coffey - Janney Andrew Terrell - Stephens Eric Spector - Raymond James Gary Tenner - D.A. Davidson Operator Good afternoon, everyone, and welcome to the Preferred Bank Third Quarter 2023 Earnings Conference Call.

Preferred Bank (PFBC) Q3 2023 Earnings Call Transcript

The headline numbers for Preferred Bank (PFBC) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Preferred Bank (PFBC) Reports Q3 Earnings: What Key Metrics Have to Say

Preferred Bank (PFBC) came out with quarterly earnings of $2.71 per share, beating the Zacks Consensus Estimate of $2.55 per share. This compares to earnings of $2.40 per share a year ago.

Preferred Bank (PFBC) Beats Q3 Earnings and Revenue Estimates

LOS ANGELES, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended September 30, 2023. Preferred Bank (“the Bank”) reported net income of $38.2 million or $2.71 per diluted share for the third quarter of 2023. This represents an increase in net income of $3.0 million or 8.5% over the same quarter last year and up slightly compared to the second quarter of 2023. The primary driver of the increase over the prior year quarter was net interest income which increased by $6.2 million or 9.2% over the same period last year partially offset by higher noninterest expense. When compared to the prior quarter, net interest income was down slightly, as was noninterest income and noninterest expense.

Preferred Bank Reports Quarterly Earnings

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Should Value Investors Buy Preferred Bank (PFBC) Stock?

LOS ANGELES, Oct. 06, 2023 (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 third quarter ended September 30, 2023 after the close of market on Tuesday, October 17, 2023. On the following day, Wednesday, October 18, 2023, 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.

News for Preferred Bank Stock (PFBC)