Preferred Bank Declares Quarterly Cash Dividend

Rhea-AI Summary

Preferred Bank (NASDAQ: PFBC) announced a quarterly cash dividend of $0.30 per share. The dividend will be payable on January 21, 2021 to shareholders on record as of January 7, 2021. This move reflects the bank's commitment to providing returns to its investors amidst its focus on the diversified California market, where it operates multiple branches.

Positive

• Quarterly cash dividend of $0.30 per share announced.
• Dividend payment boosts investor returns.

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• None.

LOS ANGELES, Dec. 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 January 21, 2021 to holders of record on January 7, 2021.

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:		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 (PFBC)?

Preferred Bank declared a dividend of $0.30 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on January 21, 2021.

What is the record date for the dividend payment?

The record date for the dividend is January 7, 2021.

How often does Preferred Bank (PFBC) pay dividends?

Preferred Bank typically pays dividends quarterly.

Is the dividend from Preferred Bank sustainable?

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