Preferred Bank Declares Quarterly Cash Dividend

Rhea-AI Summary

Preferred Bank (NASDAQ: PFBC) has declared a quarterly cash dividend of $0.30 per share, to be paid on October 21, 2020, for shareholders on record by October 7, 2020. This decision reflects the Bank's commitment to return value to its shareholders. Based in California, Preferred Bank serves commercial and consumer clients with a variety of banking products. The Bank is FDIC-insured and operates multiple branches across California and New York, emphasizing its stability and growth in the diversified financial market.

Positive

• Quarterly cash dividend of $0.30 per share indicates financial confidence.

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• None.

LOS ANGELES, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), an independent commercial bank focusing on the diversified California market, today reported that the Board of Directors has declared a quarterly cash dividend of $0.30 per share. The dividend is payable on October 21, 2020 to holders of record on October 7, 2020.

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. 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:           
Edward J. Czajka                     
Executive Vice President         
Chief Financial Officer            
(213) 891-1188                        

AT FINANCIAL PROFILES:
Jeffrey Haas
General Information
(310) 622-8240
PFBC@finprofiles.com

FAQ

What is the dividend amount declared by Preferred Bank (PFBC)?

Preferred Bank has declared a quarterly cash dividend of $0.30 per share.

When will the dividend be paid to shareholders of PFBC?

The dividend will be paid on October 21, 2020.

What is the record date for the dividend payment of PFBC?

The record date for the dividend payment is October 7, 2020.

How often does Preferred Bank pay dividends?

Preferred Bank typically pays dividends on a quarterly basis.

Is Preferred Bank (PFBC) a stable investment for dividends?

Preferred Bank's consistent dividend payments reflect its financial stability and commitment to shareholders.