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Sept. 16, 2020, 4:05 p.m. EDT

Preferred Bank Declares Quarterly Cash Dividend

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LOS ANGELES, Sep 16, 2020 (GLOBE NEWSWIRE via COMTEX) -- Preferred Bank /zigman2/quotes/210374414/composite PFBC +1.18% , 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

https://ml.globenewswire.com/media/47a17ffe-5835-486f-acb7-b7ee40b16cfd/small/preferred-bank-logo.jpg

COMTEX_371400357/2010/2020-09-16T16:05:10

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(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/210374414/composite
US : U.S.: Nasdaq
$ 59.40
+0.69 +1.18%
Volume: 41,481
July 23, 2021 4:00p
P/E Ratio
11.00
Dividend Yield
2.56%
Market Cap
$885.18 million
Rev. per Employee
$828,267
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