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Preferred Bank Receives Regulatory Approval to Continue $150 Million Stock Repurchase Plan

Mar 18, 2025•about 1 year ago

Contract Type

contract

Los AngelesFinancial ServicesFinanceBanking

Description

Preferred Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, after its previous regulatory approval expired in January of 2025. The Bank has repurchased $84.3 million of its common stock during 2023 and 2024, and the remaining $65.7 million of common stock will be repurchased by May of 2025.

Company Information

Company

Preferred Bank

Location

Los Angeles, California, United States

About

Preferred Bank (NASDAQ: PFBC) is one of the larger independent commercial banks headquartered in California with over $6.0 billion in total assets. We have locations serving Southern California, the San Francisco Bay Area, New York, and Houston, Texas.* We offer a full array of banking products and services with a concentration on commercial real estate loans, business loans, treasury management, and premier consumer banking services. The Bank consistently places high in industry reviews for its outstanding financial performance and exceptional relationship banking services. Preferred Bank has been an integral part of the prosperity of the community and the success of our clients. We take great pride in our work and look forward to working with you to provide customized banking solutions to help you achieve your financial goals.

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