Preferred Bank
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| File:PreferredBank1.jpg | |
| Company type | Public |
|---|---|
| Industry | Finance and insurance |
| Founded | Los Angeles, CA (1991) |
| Headquarters | Los Angeles County, California and Orange County, California |
Key people | Mr. Li Yu, Chairman, President and CEO Mr. Edward J. Czajka, CFO |
| Products | Banking |
| Revenue | $56.83 million US |
Number of employees | 120 |
| Website | preferredbank |
Preferred Bank (Chinese: 保富銀行) is a California state-chartered bank operating in Southern California, United States.
Headquartered in Los Angeles, with branch offices in Arcadia, Alhambra, Century City, Los Angeles, California, Diamond Bar, California, City of Industry, California, Anaheim, Pico Rivera, California, Irvine and Torrance, California, the publicly held community bank was first established on December 23, 1991.
The initial offering closed December 11, 1991, and was oversubscribed at $20,180,000, and the bank is listed on NASDAQ (PFBC). As a California state-chartered bank, insured by the Federal Deposit Insurance Corporation, it has consistently earned the highest ratings from financial rating agencies such as Bauer Financial, Sheshunoff, Veribanc, Inc., and The Findley Reports.[citation needed]
In addition to ordinary banking services, Preferred Bank also specializes in several areas to serve its predominantly Chinese American clientele, and these include:
- International Market Business: consisting of importers and exporters requiring both borrowing and operational products
- International Private Banking: handling international private banking needs in the Pacific Rim area
- Middle Market Business: consisting of manufacturing, service and distribution companies with sales of $3 million to $50 million annually and with borrowing requirements of up to $7 million.
- Professionals: consisting of physicians, accountants, attorneys, and professionals associated with the entertainment industry
