Company Profile
- Headquartered in Los Angeles, California, Preferred Bank (NASDAQ: PFBC) (“Preferred Bank” or “the bank”) is an FDIC designated minority depository institution whose genesis was to serve the Chinese American community, though has gradually evolved into more of a mainstream bank (as of YE24, ethnic Chinese clients account for ~45% of deposits and ~20% of loans).
- The bank currently operates 16 branches across the U.S., predominately located in SoCal, and, to lesser extent, NYC, San Francisco, and Houston. Contemporary growth has been organic, with no M&A activity in 10+ years. The loan portfolio is commercially oriented, with investor CRE constituting the largest segment at 47%, followed by C&I (29%), residential mortgage (14%), mainly non-QM loans, and C&D (11%).