Preferred Bank Increases Quarterly Cash Dividend
March 18 2021 - 3:01PM
Preferred Bank (NASDAQ: PFBC), one of the largest
independent commercial banks in California, today reported that the
Board of Directors has increased the quarterly cash dividend to
$0.38 per share, an increase of 26.7% over the previous dividend of
$0.30 per share. The dividend is payable on April 21, 2021 to
holders of record on April 7, 2021.
Chairman and CEO Li Yu commented, “We are very pleased to
increase the dividend and it is a direct reflection of the strong
performance of the Bank through the past year as well as
expectations for the future. This also serves to maintain our
stated desired dividend payout ratio.”
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 |
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