Welcome to our dedicated page for Preferred Bk Los Angeles Ca news (Ticker: PFBC), a resource for investors and traders seeking the latest updates and insights on Preferred Bk Los Angeles Ca stock.
Preferred Bank (PFBC), a leading independent commercial bank headquartered in Los Angeles, provides timely financial updates through this dedicated news resource. As an FDIC-insured institution with deep roots in California's business community, PFBC maintains focus on commercial lending, risk-managed growth, and community-focused banking solutions.
This centralized news hub offers investors and stakeholders immediate access to verified press releases covering earnings announcements, regulatory developments, and strategic initiatives. Users will find updates on asset quality metrics, leadership changes, and service innovations while maintaining compliance with financial disclosure standards.
The repository features essential updates including quarterly earnings calls, regulatory filings, executive appointments, and market expansion news. Content emphasizes PFBC's core strengths in commercial real estate financing, small business banking solutions, and its specialized focus on cross-border trade services.
Bookmark this page for direct access to Preferred Bank's official communications and third-party analyses. Regularly updated content ensures stakeholders maintain current understanding of PFBC's financial position and market strategy within the competitive West Coast banking sector.
Preferred Bank (NASDAQ: PFBC) reported a net income of $38.1 million or $2.61 per diluted share for Q1 2023, a 46.3% increase from the prior year, but down $1.5 million from Q4 2022. The increase was driven by a $23.7 million rise in net interest income, reflecting a 47.3% year-over-year growth. However, a $4.2 million loss on the sale of a corporate note influenced the quarterly decrease. Total deposits declined by $149 million since year-end 2022, highlighting challenges post-Silicon Valley Bank and Signature Bank failures. The Bank maintained a robust liquidity position with $886 million in cash, representing 16.4% of total deposits. The efficiency ratio stood at 26.1%.
Preferred Bank (NASDAQ: PFBC), a significant independent commercial bank in California, will release its financial results for Q1 2023 on April 18, 2023, post-market close. On April 19, 2023, the bank's management will host a conference call at 2:00 p.m. Eastern Time to discuss the financial results, business highlights, and future outlook. Participants can join by dialing 844-826-3037 (domestic) or 412-317-5182 (international) or through a live webcast on the bank’s website. The call will also be available for replay until April 26, 2023. Preferred Bank operates multiple branches in California and offers a wide range of financial services aimed at small and mid-sized businesses and high-net-worth individuals.
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