Preferred Bank reports news as an independent commercial bank serving commercial and consumer customers through deposit products, real estate finance, commercial loans and trade finance. The California-chartered bank operates from its Los Angeles main office with branch banking offices in California, New York and Texas, and a loan production office in Sunnyvale, California.
Recurring updates for PFBC include quarterly earnings, net interest income and margin trends, loan and deposit balances, provision and credit-quality developments, capital ratios, cash dividends and third-party credit ratings. Company announcements also address classified or nonaccrual loan relationships, OREO activity and the performance drivers of its commercial banking portfolio.
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.
Preferred Bank (NASDAQ: PFBC) reported a net income of $26.1 million, or $1.76 per diluted share, for Q3 2021, marking a 21.7% increase over the previous quarter. This was significantly higher than the $17.1 million, or $1.15 per share, reported in Q3 2020. Key drivers included a $10.5 million improvement in credit loss provisions compared to last year. The bank observed 8.3% deposit growth and 1.8% loan growth (excluding PPP loans) quarter-over-quarter. Total assets approached $6 billion.
Preferred Bank (NASDAQ: PFBC) will release its third-quarter financial results on October 20, 2021, after market close. A conference call, featuring key executives, is scheduled for October 21, 2021, at 2:00 p.m. Eastern Time. Participants can join by phone or via a live webcast on the bank's website. Preferred Bank, headquartered in California, provides a variety of banking services and operates multiple branches across the state and in New York, catering to both commercial and consumer clients.
Preferred Bank (NASDAQ: PFBC) has declared a quarterly cash dividend of $0.38 per share, payable on October 21, 2021, to shareholders of record as of October 7, 2021. This follows the Bank's ongoing commitment to return value to its shareholders while continuing to provide a range of banking services. Headquartered in Los Angeles, Preferred Bank operates multiple branches across California and New York, focusing on serving commercial and consumer banking needs.
Preferred Bank (NASDAQ: PFBC) reported a net income of $21.5 million or $1.44 per diluted share for Q2 2021, representing a slight increase from $21.2 million or $1.42 per diluted share in Q1 2021 and significantly up from $15.3 million or $1.03 per diluted share in Q2 2020. Key factors include a $7.5 million decrease in provisions for credit losses. However, net interest income decreased to $43.4 million due to a $2.29 million loan interest reversal. The bank experienced a loan growth of 2.7% and deposit growth of 1.6% compared to the prior quarter.
Preferred Bank (NASDAQ: PFBC) announced plans to release its financial results for Q2 2021, ending June 30, 2021, after market close on July 20, 2021. A conference call hosted by bank executives, including Chairman and CEO Li Yu, will take place on July 21, 2021, at 2:00 p.m. Eastern. Investors can join by calling 844-826-3037 or visiting the bank's website for a live webcast. Preferred Bank offers a variety of banking services and operates multiple branches across California and one in New York.