Preferred Bank Announces Director Departure
Preferred Bank (NASDAQ: PFBC) announced the resignation of Ms. Shirley Wang from its Board of Directors for personal reasons, effective May 11, 2022.
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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.
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News Market Reaction – PFBC
The recorded move for PFBC in the trading session of this news was -1.47%.
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LOS ANGELES, May 11, 2022 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced that Ms. Shirley Wang, Director has tendered her resignation from the Bank’s Board of Directors. Ms. Wang’s departure is for personal reasons and is not the result of any disagreements with management or accounting irregularities.
Li Yu, Chairman and CEO, commented, ”On behalf of the Board of Directors, we regretfully accept Ms. Wang’s resignation and we thank her for her three years of service and guidance to Preferred Bank.”
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. In addition, the Bank operates a loan production office in the Houston suburb of Sugar Land, Texas. 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: | AT FINANCIAL PROFILES: |
| Edward J. Czajka | Jeffrey Haas |
| Executive Vice President | General Information |
| Chief Financial Officer | (310) 622-8240 |
| (213) 891-1188 | PFBC@finprofiles.com |
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