Preferred Bank Announces Quarterly Cash Dividend

Rhea-AI Summary

Preferred Bank (NASDAQ: PFBC) announced a quarterly cash dividend of $0.55 per share, payable on April 21, 2023, to shareholders on record as of April 7, 2023. This decision reflects the bank's ongoing commitment to returning value to its shareholders. Preferred Bank, based in Los Angeles, California, operates numerous branches and offers a variety of financial services including commercial loans and real estate financing, catering to a diverse customer base.

Positive

• Quarterly cash dividend of $0.55 per share indicating strong financial health.
• Demonstrates commitment to shareholder value.

Negative

• None.

LOS ANGELES, March 27, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash dividend of $0.55 per share, payable on April 21, 2023 to holders of record on April 7, 2023.

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

 

FAQ

What is the dividend amount declared by Preferred Bank?

Preferred Bank declared a dividend of $0.55 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 21, 2023.

What is the record date for the dividend payment?

The record date for the dividend is April 7, 2023.

How frequently does Preferred Bank declare dividends?

Preferred Bank typically declares dividends quarterly.

Is the dividend sustainable for Preferred Bank?

The sustainability of the dividend depends on the bank's ongoing financial performance.