Preferred Bk Los Angeles Ca Stock Price, News & Analysis

Preferred Bank (NASDAQ: PFBC) has declared a quarterly cash dividend of $0.43 per share, scheduled for payment on July 21, 2022. Shareholders on record as of July 7, 2022 will receive this dividend. The bank, headquartered in Los Angeles, is one of California's largest independent commercial banks, offering a range of financial services and products to both commercial and consumer customers. With multiple branches across California and one in New York, the bank continues to serve a diverse customer base.

Preferred Bank (NASDAQ: PFBC) has received approval to continue its stock repurchase plan initiated in May 2021. Initially, $50 million was allocated for the buyback, with approximately $18 million repurchased in 2021. In May 2022, the Board of Directors announced the recommencement of this plan, allowing for an additional buyback of up to $32 million in common stock. This move is intended to enhance shareholder value and reflects the Bank's ongoing commitment to optimizing its capital structure.

Preferred Bank (NASDAQ: PFBC) announced the resignation of Ms. Shirley Wang from its Board of Directors for personal reasons, effective May 11, 2022. The Bank confirmed that her departure was not due to any disagreements with management or accounting issues. Chairman and CEO Li Yu expressed gratitude for Ms. Wang's three years of service. Preferred Bank, one of California's larger independent commercial banks, continues to offer a wide range of banking products and services to both commercial and consumer customers across its branches in California and New York.

Preferred Bank (NASDAQ: PFBC) reported a strong first quarter of 2022 with a net income of $26.0 million, or $1.74 per diluted share, marking a 22.8% increase year-over-year. Loan growth (excluding PPP) reached 16.1% annualized, totaling $176 million. Although net interest income rose to $50 million, noninterest expenses increased due to personnel costs. Deposit growth was moderate, increasing by $84 million. The Bank's net interest margin improved to 3.42%, and total assets grew to $6.14 billion.

Preferred Bank (NASDAQ: PFBC) plans to release its financial results for the first quarter ending March 31, 2022, on April 19, 2022. A conference call with management will take place on April 20, 2022, at 2:00 p.m. Eastern, focusing on the bank's performance and outlook. Investors can access this call via phone or live webcast on the bank's website. Preferred Bank, a major independent commercial bank in California, offers various financial services to small and mid-sized businesses as well as individual customers.

Preferred Bank (NASDAQ: PFBC) has declared a quarterly cash dividend of $0.43 per share, scheduled for payment on April 21, 2022, to shareholders recorded by April 7, 2022. The bank, one of California's largest independent commercial banks, offers a range of services including deposits, real estate finance, and loans. Based in Los Angeles, it operates 11 branches across California and one in New York, catering to small and mid-sized businesses and a diverse customer base.

Preferred Bank (NASDAQ: PFBC) reported a strong performance for Q4 and the full year 2021. The Bank's net income for Q4 was $26.4 million ($1.80 per diluted share), up 26.5% year-over-year. For the full year, net income reached a record $95.2 million ($6.41 per diluted share), marking a 37.1% increase from 2020. Key metrics include a loan growth of 10.5% and deposit growth of 17.6%. However, despite the positive figures, concerns about inflation and rising operating costs were noted by management. The leverage ratio stood at 9.49%, indicating strong capitalization.

Preferred Bank (NASDAQ: PFBC) will announce its fourth-quarter financial results for the period ending December 31, 2021, on January 19, 2022. A conference call with management will take place the following day, January 20, 2022, at 2:00 p.m. Eastern (11:00 a.m. Pacific), which will be available through multiple access points, including a live webcast. Key executives will discuss financial outcomes, business highlights, and future outlook. A replay of the call will be offered until February 3, 2022.

Preferred Bank (NASDAQ: PFBC) declared a quarterly cash dividend of $0.43 per share, an increase of 13.2% from the previous dividend of $0.38. The dividend is payable on January 21, 2022, to shareholders on record as of January 7, 2022. This decision reflects the bank's strong performance throughout the pandemic year, as noted by CEO Li Yu.