Preferred Bank Increases Quarterly Cash Dividend


LOS ANGELES, March 18, 2021 (GLOBE NEWSWIRE) – Preferred Bank (NASDAQ: PFBC), one of California’s largest independent commercial banks, today announced that the board of directors has increased the quarterly cash dividend to $ 0.38 per share, an increase of 26.7% from the previous dividend of $ 0.30 per share. The dividend is payable on April 21, 2021 to holders of record on April 7, 2021.

Chairman and CEO Li Yu said, “We are very pleased to increase the dividend and this directly reflects the strong performance of the Bank over the past year as well as expectations for the future. It also serves to maintain our desired dividend payout ratio. “

About the preferred bank

Preferred Bank (the “Bank”) is one of the largest independent commercial banks headquartered in California. The Bank is licensed by the State of California and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the fullest extent permitted by law. The Bank operates its banking activities from its main office in Los Angeles, California, and through eleven full-service bank branches in California (Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Pico Rivera, Tarzana and San Francisco (2)) and a branch in Flushing, New York. Preferred Bank offers a wide range of deposit and loan products and services to business customers and consumers. The Bank provides personalized deposit services as well as real estate finance, business loans and trade finance to small and medium-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Although originally founded as a Chinese-American bank, Preferred Bank now draws most of its customers from the diverse mainstream market, but continues to benefit from the significant migration to California of ethnic Chinese from China and others. regions of East Asia.

IN THE BUSINESS: TO FINANCIAL PROFILES:
Edward J. Czajka Jeffrey Haas
Executive Vice President General informations
Financial director (310) 622-8240
(213) 891-1188 [email protected]


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