PFBC Preferred Bank

LOS ANGELES, Oct. 18 /PRNewswire-FirstCall/ -- Preferred Bank (NASDAQ:PFBC), today announced that Walter Duchanin, Executive Vice President and Chief Credit Officer, has tendered his resignation with Preferred Bank to pursue other interests. Mr. Duchanin will stay in his current position through mid-November, 2007. Preferred Bank will immediately begin to conduct a search for a replacement both internally and externally. About Preferred Bank Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through ten full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica and Valencia, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Preferred Bank continues to benefit from the significant migration to Southern California of ethnic Chinese from China and other areas of East Asia. While its business is not solely dependent on the Chinese-American market, it represents an important element of the bank's operating strategy, especially for its branch network and deposit products and services. Preferred Bank believes it is well positioned to compete effectively with the smaller Chinese-American community banks, the larger commercial banks and other major banks operating in Southern California by offering a high degree of personal service and responsiveness, experienced multi-lingual staff and substantial lending limits. For Further Information: AT THE COMPANY: AT FINANCIAL RELATIONS BOARD: Edward J. Czajka Lasse Glassen Chief Financial Officer General Information (213) 891-1188 (213) 486-6546 DATASOURCE: Preferred Bank CONTACT: Edward J. Czajka, Chief Financial Officer of Preferred Bank, +1-213-891-1188; or Lasse Glassen of Financial Relations Board, General Information, +1-213-486-6546, , for Preferred Bank Web site: http://www.preferredbank.com/

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