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 (PFBC), a major independent commercial bank in California, has scheduled its 2025 first quarter earnings release for Friday, April 25, 2025, before market open. The bank will host a conference call the same day at 2:00 p.m. Eastern time to discuss financial results for the quarter ended March 31, 2025.
Key executives participating in the call include Chairman and CEO Li Yu, President and COO Wellington Chen, CFO Edward J. Czajka, Chief Credit Officer Nick Pi, and Deputy COO Johnny Hsu. Investors can join via phone (844-826-3037 domestic, 412-317-5182 international) or webcast through Preferred Bank's website. A replay will be available until May 2, 2025.
Preferred Bank (NASDAQ: PFBC), a leading independent commercial bank in California, has announced a quarterly cash dividend of $0.75 per share. The dividend will be paid on April 21, 2025 to shareholders of record as of April 7, 2025.
Preferred Bank (NASDAQ: PFBC) has received regulatory approval to continue its $150 million stock repurchase plan through May 2025. The bank has already repurchased $84.3 million of common stock during 2023-2024, acquiring 1.3 million shares at an average price of $63.94 per share. The remaining $65.7 million in repurchases will be executed through open market transactions.
As a state, non-member bank issuing stock at the bank level, PFBC requires regulatory approval for capital-affecting transactions. The bank operates primarily in California through twelve full-service branches, with additional locations in New York, Texas, and a loan production office in Sunnyvale, California.
Preferred Bank (NASDAQ: PFBC) has announced a significant donation for fire relief efforts in Los Angeles. The Board of Directors has approved a $250,000 donation to be distributed among four organizations: Tzu-Chi – USA, Pasadena Community Foundation, Alliance for a Better Community, and Los Angeles Fire Department Foundation.
The Bank will also match any employee contributions made to wildfire relief efforts on top of the initial donation. Chairman and CEO Li Yu emphasized that the recent wildfires in Southern California have significantly impacted their associates, clients, and communities.
Preferred Bank operates primarily in California with twelve full-service branch banking offices, along with branches in Flushing, New York, and Sugar Land, Texas. The bank provides commercial and consumer banking services, including deposit services, real estate finance, and commercial loans.
Preferred Bank (PFBC) reported Q4 2024 net income of $30.2 million ($2.25 per diluted share), showing decreases of $3.2 million from Q3 and $5.6 million year-over-year. The decline was primarily due to a one-time $8.1 million increase in occupancy expense from an ASC 842 lease calculation error.
Q4 highlights include a 1.74% return on average assets, 16.03% return on beginning equity, and a 4.06% net interest margin. Total loans increased by $71 million (1.3%) in Q4. For full-year 2024, the bank achieved net income of $130.7 million ($9.64 per diluted share), with return on assets of 1.91% and return on beginning equity of 18.8%.
The bank's credit metrics improved with non-performing loans decreasing by $10.0 million (52%) and criticized loans decreasing by $76.7 million (32.6%). The quarterly dividend increased from $0.70 to $0.75, and the bank repurchased 464,314 shares for $34.3 million during 2024.
Preferred Bank (PFBC), a major independent commercial bank in California, has announced it will release its Q4 2024 financial results after market close on January 27, 2025. The bank will host a conference call on January 28, 2025, at 2:00 p.m. Eastern time to discuss the results.
The conference call will be accessible via phone (844-826-3037 domestic, 412-317-5182 international) and through a live webcast on the bank's website. Key executives, including CEO Li Yu, President Wellington Chen, CFO Edward J. Czajka, CCO Nick Pi, and Deputy COO Johnny Hsu, will present financial results and business highlights. A replay will be available until February 11, 2025, through both the website and phone (passcode: 6335378).
Preferred Bank (NASDAQ: PFBC), a leading independent commercial bank in California, has announced a 7.1% increase in its quarterly cash dividend. The new dividend will be $0.75 per share, up from the previous $0.70 per share. Shareholders of record on January 9, 2025, will receive the dividend payment on January 23, 2025.
Preferred Bank (NASDAQ: PFBC) has disclosed an accounting error in its calculation of right of use asset and lease liabilities. The bank will record an $8.1 million pre-tax occupancy expense in Q4 2024, reducing quarterly diluted earnings per share by approximately $0.43. The error stems from incorrect lease term calculations when adopting ASC 842 in 2019, resulting in understated occupancy expenses averaging $1.35 million pre-tax annually from 2019 to 2024. Future occupancy expenses are expected to increase by approximately $1.6 million annually on a pre-tax basis. The bank has determined these adjustments are not material to its overall operations or balance sheet.
Preferred Bank (NASDAQ: PFBC), a prominent independent commercial bank in California, has announced its plans to release financial results for the third quarter ended September 30, 2024. The results will be disclosed before the market opens on Monday, October 21, 2024. Following this, the bank will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific) on the same day.
Investors can join the call by dialing 844-826-3037 (domestic) or 412-317-5182 (international) and referencing 'Preferred Bank'. A live webcast will also be available on the bank's website. Key executives, including Chairman and CEO Li Yu, President and COO Wellington Chen, CFO Edward J. Czajka, CCO Nick Pi, and Deputy COO Johnny Hsu, will discuss the financial results, business highlights, and outlook.
Preferred Bank (NASDAQ: PFBC), a leading independent commercial bank in California, has announced a quarterly cash dividend of $0.70 per share. The dividend will be payable on October 21, 2024 to shareholders of record as of October 7, 2024. This announcement demonstrates the bank's commitment to providing returns to its shareholders and reflects its financial stability in the competitive California banking sector.
