Preferred Bank Welcomes New Leadership in Risk Management
Preferred Bank Appoints New Chief Risk Officer
LOS ANGELES – In a move that underscores its dedication to solid risk management, Preferred Bank (NASDAQ: PFBC) has officially announced the appointment of Nick Pi as the Executive Vice President and Chief Risk Officer. This decision aims to bolster the Bank’s risk oversight framework and ensure continued operational excellence in an evolving financial landscape.
Leadership Transition
Nick Pi, who has demonstrated exceptional leadership as the Bank’s Chief Credit Officer since 2015, is stepping into this new role with a wealth of experience. His previous work is marked by his commitment to overseeing the credit function effectively, and now he will expand his oversight to include the Bank Secrecy Act (BSA) and Compliance Departments.
Li Yu, the Chairman and CEO of Preferred Bank, lauded Nick's extensive background and strong leadership in Credit Administration. He expressed confidence in Nick’s capability to navigate the complexities of risk management, stating, “We feel this is an important step in developing our enterprise risk oversight. Please join me in congratulating Nick.”
About Preferred Bank
Founded as a trusted banking institution, Preferred Bank stands out as one of the notable independent commercial banks in California. Carsoning its charter from the State of California, this esteemed financial institution enjoys Federal Deposit Insurance Corporation (FDIC) insurance for its deposits, providing peace of mind to its customers.
Comprehensive Banking Services
With its main office located in Los Angeles and additional full-service branches throughout California, including locations in Alhambra and San Francisco, as well as branches in New York and Texas, the Bank is well-positioned to serve a diverse clientele. Preferred Bank offers various deposit and loan products tailored to meet the needs of both commercial and consumer customers.
The Community Connection
Initially established to capture the needs of Chinese-American communities, Preferred Bank has successfully evolved to serve a widely varied customer base. In response to the significant influx of diverse populations, it has managed to broaden its appeal beyond its original demographic while maintaining its heritage.
Notable Contacts
In alignment with its operational goals, Preferred Bank underscores the importance of effective communication. Key points of contact for inquiries include Edward J. Czajka, Executive Vice President and Chief Financial Officer, reachable at (213) 891-1188, and via email. For broader financial inquiries, Jeffrey Haas at Financial Profiles can be contacted at (310) 622-8240 or through email as well.
Frequently Asked Questions
What is the role of the Chief Risk Officer at Preferred Bank?
The Chief Risk Officer oversees the Bank's risk management policies and practices, ensuring effective compliance and operation.
Who is Nick Pi?
Nick Pi is the newly appointed Executive Vice President and Chief Risk Officer at Preferred Bank, bringing extensive experience from his previous role as Chief Credit Officer.
What products does Preferred Bank offer?
Preferred Bank offers a wide range of deposit and loan products catering to both commercial and consumer markets.
How can I contact Preferred Bank?
You can reach Preferred Bank directly at (213) 891-1188 or by contacting Edward J. Czajka for specific inquiries.
Where is Preferred Bank located?
The main office of Preferred Bank is in Los Angeles, California, with additional branch locations across the state and in New York and Texas.
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