Preferred Bank

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Preferred Bank
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

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, this 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 to help it survive in the competition, 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

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