Preferred Bank's Board Approves New Quarterly Dividend Payout
Preferred Bank Board Approves Dividend Increase
In an exciting announcement, Preferred Bank (NASDAQ: PFBC), a prominent independent commercial bank in California, declared a quarterly cash dividend of $0.75 per share. This dividend is scheduled for distribution on April 21, 2025, to all shareholders on record as of April 7, 2025. The decision reflects the bank's strong financial position and commitment to creating shareholder value.
About Preferred Bank and Its Services
Preferred Bank stands out as a significant player among independent commercial banks in California. Its charter is issued by the state, providing assurance to customers that deposits are insured by the Federal Deposit Insurance Corporation (FDIC) within legal limits. Headquartered in the vibrant city of Los Angeles, the bank operates through a network of branches strategically located throughout California, including major cities like Alhambra, Century City, and Torrance, as well as branches in Flushing, New York, and Sugar Land, Texas.
Comprehensive Banking Solutions
Preferred Bank caters to both commercial and consumer clients by offering a comprehensive selection of deposit and loan products. They specialize in personalized deposit services alongside expertise in real estate finance, commercial loans, and trade finance, serving small to mid-sized businesses, entrepreneurs, professionals, and high net worth individuals. Their diverse product offerings are a testament to their commitment to meeting the unique financial needs of their clients.
A Rich Heritage and Diverse Clientele
The bank has a rich history as a Chinese-American financial institution, yet it has successfully transitioned to serve a broader, diversified mainstream market. This evolution has enabled Preferred Bank to attract a varied clientele, including many customers from the growing community of ethnic Chinese migrating to California from China and other parts of East Asia. The bank’s ability to adapt and thrive highlights its robust operational strategies and customer service focus.
Leadership and Contact Information
Leading the strategic direction of Preferred Bank, Edward J. Czajka serves as Executive Vice President and Chief Financial Officer. Interested parties may reach him at (213) 891-1188. For general inquiries, they can also contact Jeffrey Haas from Financial Profiles at (310) 622-8240 or reach out via email at PFBC@finprofiles.com.
Looking Ahead with Confidence
This latest dividend declaration by Preferred Bank underscores its solid financial foundation and positive outlook for future growth. The decision to increase dividends reflects the management’s confidence in the bank’s ongoing business performance and market position. Shareholders can look forward to continued strong results, bolstered by the bank’s expansive branch network and dedication to enhancing customer experience.
Frequently Asked Questions
What is the new dividend declared by Preferred Bank?
Preferred Bank announced a quarterly cash dividend of $0.75 per share.
When will the dividend be paid out?
The dividend will be paid on April 21, 2025, to shareholders of record as of April 7, 2025.
Where is Preferred Bank headquartered?
Preferred Bank is headquartered in Los Angeles, California.
What types of banking services does Preferred Bank offer?
The bank offers a variety of deposit and loan products, including real estate finance and commercial loans.
Who can I contact for more information about Preferred Bank?
You can contact Edward J. Czajka at (213) 891-1188 for inquiries regarding the bank.
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