Preferred Bank Announces Cash Dividend of $0.10 Per Common Share
October 23 2008 - 6:16PM
PR Newswire (US)
LOS ANGELES, Oct. 23 /PRNewswire-FirstCall/ -- Preferred Bank
(NASDAQ: PFBC), today announced that at a meeting held on October
21, 2008, its Board of Directors declared a quarterly cash dividend
of $0.10 per common share payable on November 25, 2008 to
shareholders of record on November 11, 2008. 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 Executive
Vice President General Information Chief Financial Officer (213)
486-6546 (213) 891-1188 DATASOURCE: Preferred Bank CONTACT:
CONTACT: Edward J. Czajka, Executive Vice President, Chief
Financial Officer of Preferred Bank, +1-213-891-1188; or Lasse
Glassen, General Information, +1-213-486-6546, , of Financial
Relations Board, for Preferred Bank Web Site:
http://www.preferredbank.com/
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