LOS ANGELES, Oct. 23, 2026 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended September 30, 2026. Preferred Bank (“the Bank”) reported net income of $32.9 million or $2.73 per diluted share for the third quarter of 2026. This represents a decrease in net income of $3.0 million from the same quarter last year and a decrease of $592,000 from the previous quarter. The decrease compared to the prior year was due to a decrease in net interest income of $4.6 million partially offset by a $1.3 million increase in noninterest income and a small increase in noninterest expense of $661,000. The difference compared to the prior quarter was again due to net interest income which decreased by $3.3 million partially offset by an increase in noninterest income of $1.5 million and a decrease in noninterest expense of $1.6 million. During the quarter, the Bank placed a $56.7 million loan on nonaccrual status and four others totaling $13.5 million and the resulting reversal of interest income was $2.1 million which was the primary driver behind the decrease in net interest income.
Highlights for the Quarter:
- Return on average assets was 1.69%
- Return on average equity was 16.18%
- Total deposits increased by $77.7 million, or 1.2%, linked quarter
- The efficiency ratio for the quarter was 30.9%
Li Yu, Chairman and CEO, commented, “Net income for the third quarter ended September 30, 2026, was $32.9 million or $2.73 per diluted share. Both are lower than the second quarter due primarily to the interest recoveries last quarter and interest reversals this quarter.
“Deposits increased by $77.7 million or 1.2% for the quarter. It is highly likely that the competition for deposits and market conditions will continue into 2027.
“Loans (excluding loans held for sale) decreased $41.0 million after we placed a $56.7 million loan into held for sale status. Presently, we are seeing a stronger pipeline that hopefully will result in solid loan growth in the fourth quarter.
“The net interest margin for the third quarter was 3.49% compared to 3.73% in the second quarter. The variance is largely caused by a $2.1 million interest income reversal in the third quarter and $2.9 million of interest income recoveries in the second quarter. The recent fed rate increase should bring beneficial results to our net interest margin as our balance sheet is asset sensitive.
“Resolution of non-accrual loans is progressing although slower than we had hoped for. Several loans that were scheduled to be resolved in the quarter are now delayed to the fourth quarter or the first quarter 2027 because these assets are subject to bankruptcy courts’ decisions.
This quarter we have outperformed our own expectations in non-interest income and non-interest expense. Our cost control remains effective under this inflationary environment.
We believe the country’s economy will remain strong in 2027, and inflationary pressure will gradually subside. We are optimistic that Preferred Bank will continue to grow.”
Results of Operations
Net Interest Income Compared to Prior Quarter. Net interest income before provision for credit losses was $66.7 million for the third quarter of 2026. This represents a $3.3 million decrease from the previous quarter. The decrease in net interest income from the prior quarter was due primarily to an interest recovery of $2.9 million recorded in the second quarter of 2026. Secondarily, the Bank reversed $2.1 million in the third quarter as a result of placing loans on nonaccrual status. Finally, interest expense also increased this quarter over the prior quarter driven by an increase in the interest rate on the Bank’s subordinated debt. On June 16, 2026, the Bank’s subordinated debt went from fixed rate to a floating rate of the 3 month SOFR rate plus 278 basis points resulting in an increase in the coupon rate from 3.375% to 6.44% for the third quarter of 2026. The Bank’s net interest margin (“NIM”) contracted in the quarter to 3.49% due to the interest reversals previously mentioned and to a lesser extent, the increase in the sub debt coupon. This compares to a NIM of 3.73% in the prior quarter which was aided by interest recoveries and to a NIM of 3.92% for the same quarter last year.
Net Interest Income Compared to Prior Year Quarter. Net interest income before provision for credit losses was $66.7 million for the third quarter of 2026. This represents a $4.6 million decrease from the $71.3 million recorded in the same quarter last year. The decrease compared to the same quarter last year was due mainly to the $2.1 million in interest reversals previously mentioned as well as lower interest on overnight funds due to lower balances partially offset by a decrease in interest expense.
Noninterest Income. For the third quarter of 2026, noninterest income was $5.0 million compared with $3.7 million for the same quarter last year and compared to $3.5 million for the second quarter of 2026. The increase from the same quarter last year was mainly due to a gain on the call of one of the Bank’s investment securities of $431,000 as well as an increase in letters of credit fee income of $748,000. The increase over the prior quarter was due to a loss on the sale of a loan of $874,000 which occurred last quarter as well as an increase in letters of credit income and the gain on the call of an investment security this quarter.
Noninterest Expense. Total noninterest expense was $22.2 million for the third quarter of 2026 compared to $21.5 million for the same period last year and compared to $23.7 million recorded in the prior quarter. The primary reason for the increase from the prior year was mainly due to an increase in FDIC assessments of $560,000 and an increase in other professional services of $289,000 due mainly to legal fees on problem loans. This was partially offset by a decrease in OREO expense of $388,000. The decrease from the prior quarter was due primarily to a decrease in personnel expense of $1.1 million, $366,000 in other professional expense and a $109,000 in OREO expense. The Bank’s efficiency ratio came in at 30.9% for the quarter, which compares to 32.3% last quarter and to 28.7% in the same quarter last year.
Income Taxes. The Bank recorded a provision for income taxes of $14.6 million for the third quarter of 2026. This represents an effective tax rate (“ETR”) of 30.7% which is up from the 29.5% ETR for the same quarter last year and down slightly from 30.9% ETR recorded in the second quarter of 2026. The Bank’s ETR will fluctuate slightly from quarter to quarter within a fairly small range due to the timing of taxable events throughout the year.
Balance Sheet Summary
Total gross loans at September 30, 2026 were $6.25 billion, essentially flat from the $6.25 billion reported as of June 30, 2026. And an increase of $200.6 million from the total of $6.05 billion as of December 31, 2025. Total deposits were $6.55 billion as of September 30, 2026, an increase of $77.7 million from the $6.47 billion as of June 30, 2026 and an increase of $204.4 million from December 31, 2025. Total assets were $7.82 billion, an increase of $214.9 million over the total of $7.60 billion as of December 31, 2025.
Asset Quality
Non-accrual loans and loans 90 days or more past due and still accruing totaled $109.4 million excluding loans held for sale compared to $98.9 million at June 30, 2026 as compared to $51.3 million as of December 31, 2025. During the quarter, the Bank placed a $56.7 million mixed use property onto nonaccrual status due to late payments. This loan is currently under contract to be sold at par with closing anticipated in late October 2026. The Bank is continuously reviewing all nonaccrual loans to ensure timely resolution. At present, there is no significant loss content identified and the average LTV for this commercial real estate cohort stands at 60.8%. Total net charge-offs (recoveries) on loans for the quarter were $(8,000) compared to $(41,000) in the second quarter of 2026 and compared to net charge-offs of $1.6 million in the third quarter of 2025.
Allowance for Credit Losses
The provision for credit losses for the third quarter of 2026 was 2.1 million compared to the $1.2 million recorded in the second quarter of 2026 and compared to $2.5 million in the same quarter last year. The Bank’s allowance coverage ratio was 1.26% of total loans held for investment compared to 1.22% last quarter and compared to 1.30% as of December 31, 2025.
Capitalization
As of September 30, 2026, the Bank’s tangible common equity ratio was 10.13%, the leverage ratio was 10.78%, the common equity tier 1 capital ratio was 11.26% and the total capital ratio stood at 13.93%. As of December 31, 2025, the Bank’s tangible common equity ratio was 10.38%, the Bank’s leverage ratio was 10.54%, the common equity tier 1 ratio was 11.26% and the total capital ratio was 14.47%.
Conference Call and Webcast
A conference call with simultaneous webcast to discuss Preferred Bank’s third quarter 2026 financial results will be held this afternoon, October 23, 2026 at 2:00 p.m. Eastern / 11:00 a.m. Pacific. Interested participants and investors may access the conference call by dialing 844-826-3037 (domestic) or 412-317-5182 (international) and referencing “Preferred Bank.” There will also be a live webcast of the call available at the Investor Relations section of Preferred Bank's website at www.preferredbank.com.
Preferred Bank's Chairman and CEO Li Yu, President and Chief Operating Officer Wellington Chen, Chief Financial Officer Edward J. Czajka, Chief Risk Officer Nick Pi and Deputy Chief Operating Officer Johnny Hsu will discuss Preferred Bank's financial results, business highlights and outlook. After the live webcast, a replay will be available at the Investor Relations section of Preferred Bank's website. A replay of the call will also be available at 855-669-9658 (domestic) or 412-317-0088 (international) through November 6, 2026; the passcode is 9134266.
About Preferred Bank
Preferred Bank is one of the larger independent commercial banks headquartered in California. 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 Bank conducts its banking business from its main office in Los Angeles, California, and through thirteen full-service branch banking offices in California (Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2), Diamond Bar, Pico Rivera, Tarzana, Cupertino and San Francisco (2)), two branches in New York (Manhattan and Flushing, Queens) and a branch office in the Houston, Texas suburb of Sugar Land. 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. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the Bank’s future financial and operating results, the Bank's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Bank’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: changes in economic conditions; changes in the California real estate market; the loss of senior management and other employees; natural disasters or recurring energy
shortage; changes in interest rates; competition from other financial services companies; ineffective underwriting practices; inadequate allowance for loan and lease losses to cover actual losses; risks inherent in construction lending; adverse economic conditions in Asia; downturn in international trade; inability to attract deposits; inability to raise additional capital when needed or on favorable terms; inability to manage growth; inadequate communications, information, operating and financial control systems, technology from fourth party service providers; the U.S. government’s monetary policies; government regulation; environmental liability with respect to properties to which the bank takes title; and the threat of terrorism. Additional factors that could cause the Bank's results to differ materially from those described in the forward-looking statements can be found in the Bank’s 2025 Annual Report on Form 10-K filed with the Federal Deposit Insurance Corporation which can be found on Preferred Bank’s website. The forward-looking statements in this press release speak only as of the date of the press release, and the Bank assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements. For additional information about Preferred Bank, please visit the Bank’s website at www.preferredbank.com.
Financial Tables to Follow
| PREFERRED BANK | |||||||||||||||
| Condensed Consolidated Statements of Operations | |||||||||||||||
| (unaudited) | |||||||||||||||
| (in thousands, except for net income per share and shares) | |||||||||||||||
| For the Quarter Ended | |||||||||||||||
| September 30, | June 30, | September 30, | |||||||||||||
| 2026 | 2026 | 2025 | |||||||||||||
| Interest income: | |||||||||||||||
| Loans, including fees | $ | 106,517 | $ | 108,358 | $ | 110,645 | |||||||||
| Investment securities | 13,966 | 13,883 | 15,977 | ||||||||||||
| Fed funds sold | 199 | 205 | 228 | ||||||||||||
| Total interest income | 120,682 | 122,446 | 126,850 | ||||||||||||
| Interest expense: | |||||||||||||||
| Interest-bearing demand | 16,003 | 15,624 | 17,562 | ||||||||||||
| Savings | 79 | 75 | 67 | ||||||||||||
| Time certificates | 33,441 | 33,497 | 34,792 | ||||||||||||
| FHLB borrowings | 1,877 | 1,743 | 1,794 | ||||||||||||
| Subordinated debt | 2,571 | 1,517 | 1,325 | ||||||||||||
| Total interest expense | 53,971 | 52,456 | 55,540 | ||||||||||||
| Net interest income | 66,711 | 69,990 | 71,310 | ||||||||||||
| Provision for credit losses | 2,000 | 1,200 | 2,500 | ||||||||||||
| Net interest income after provision for credit losses | 64,711 | 68,790 | 68,810 | ||||||||||||
| Noninterest income: | |||||||||||||||
| Fees & service charges on deposit accounts | 556 | 570 | 625 | ||||||||||||
| Letters of credit fee income | 3,169 | 2,890 | 2,421 | ||||||||||||
| BOLI income | 108 | 107 | 105 | ||||||||||||
| Net gain on called and sale of investment securities | 431 | 35 | - | ||||||||||||
| Net gain (loss) on sale of loans | 112 | (874 | ) | 56 | |||||||||||
| Other income | 616 | 755 | 458 | ||||||||||||
| Total noninterest income | 4,992 | 3,483 | 3,665 | ||||||||||||
| Noninterest expense: | |||||||||||||||
| Salary and employee benefits | 14,205 | 15,281 | 14,240 | ||||||||||||
| Net occupancy expense | 2,360 | 2,395 | 2,297 | ||||||||||||
| Business development and promotion expense | 240 | 322 | 238 | ||||||||||||
| Professional services | 1,783 | 2,149 | 1,494 | ||||||||||||
| Office supplies and equipment expense | 385 | 340 | 361 | ||||||||||||
| OREO valuation allowance and related expense | 75 | 184 | 463 | ||||||||||||
| Other | 3,111 | 3,044 | 2,405 | ||||||||||||
| Total noninterest expense | 22,159 | 23,715 | 21,498 | ||||||||||||
| Income before provision for income taxes | 47,544 | 48,558 | 50,977 | ||||||||||||
| Income tax expense | 14,596 | 15,018 | 15,038 | ||||||||||||
| Net income | $ | 32,948 | $ | 33,540 | $ | 35,939 | |||||||||
| Income per share available to common shareholders | |||||||||||||||
| Basic | $ | 2.78 | $ | 2.83 | $ | 2.90 | |||||||||
| Diluted | $ | 2.73 | $ | 2.78 | $ | 2.84 | |||||||||
| Weighted-average common shares outstanding | |||||||||||||||
| Basic | 11,853,279 | 11,843,821 | 12,384,924 | ||||||||||||
| Diluted | 12,078,448 | 12,049,162 | 12,634,174 | ||||||||||||
| Cash dividends per common share | $ | 0.80 | $ | 0.80 | $ | 0.75 | |||||||||
| PREFERRED BANK | ||||||||||||||||
| Condensed Consolidated Statements of Operations | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| (in thousands, except for net income per share and shares) | ||||||||||||||||
| For the Nine Months Ended | ||||||||||||||||
| September 30, | September 30, | Change | ||||||||||||||
| 2026 | 2025 | % | ||||||||||||||
| Interest income: | ||||||||||||||||
| Loans, including fees | $ | 318,257 | $ | 318,020 | 0.1 | % | ||||||||||
| Investment securities | 41,150 | 43,113 | -4.6 | % | ||||||||||||
| Fed funds sold | 596 | 689 | -13.5 | % | ||||||||||||
| Total interest income | 360,003 | 361,822 | -0.5 | % | ||||||||||||
| Interest expense: | ||||||||||||||||
| Interest-bearing demand | 46,747 | 50,323 | -7.1 | % | ||||||||||||
| Savings | 208 | 207 | 0.3 | % | ||||||||||||
| Time certificates | 100,311 | 103,611 | -3.2 | % | ||||||||||||
| FHLB borrowings | 5,310 | 2,864 | 85.4 | % | ||||||||||||
| Subordinated debt | 5,413 | 3,975 | 36.2 | % | ||||||||||||
| Total interest expense | 157,989 | 160,980 | -1.9 | % | ||||||||||||
| Net interest income | 202,014 | 200,842 | 0.6 | % | ||||||||||||
| Provision for credit losses | 4,700 | 4,800 | -2.1 | % | ||||||||||||
| Net interest income after provision for credit losses | 197,314 | 196,042 | 0.6 | % | ||||||||||||
| Noninterest income: | ||||||||||||||||
| Fees & service charges on deposit accounts | 1,642 | 1,976 | -16.9 | % | ||||||||||||
| Letters of credit fee income | 8,796 | 6,998 | 25.7 | % | ||||||||||||
| BOLI income | 320 | 312 | 2.5 | % | ||||||||||||
| Net gain on called and sale of investment securities | 525 | - | 100.0 | % | ||||||||||||
| Net (loss) gain on sale of loans | (738 | ) | 503 | -246.5 | % | |||||||||||
| Other income | 2,240 | 1,636 | 36.9 | % | ||||||||||||
| Total noninterest income | 12,785 | 11,425 | 11.9 | % | ||||||||||||
| Noninterest expense: | ||||||||||||||||
| Salary and employee benefits | 44,946 | 43,326 | 3.7 | % | ||||||||||||
| Net occupancy expense | 7,181 | 6,862 | 4.6 | % | ||||||||||||
| Business development and promotion expense | 765 | 940 | -18.6 | % | ||||||||||||
| Professional services | 5,579 | 4,652 | 19.9 | % | ||||||||||||
| Office supplies and equipment expense | 1,083 | 1,166 | -7.1 | % | ||||||||||||
| OREO valuation allowance and related expense | 622 | 3,473 | -82.1 | % | ||||||||||||
| Other | 9,237 | 6,893 | 34.0 | % | ||||||||||||
| Total noninterest expense | 69,413 | 67,312 | 3.1 | % | ||||||||||||
| Income before provision for income taxes | 140,686 | 140,155 | 0.4 | % | ||||||||||||
| Income tax expense | 43,054 | 41,345 | 4.1 | % | ||||||||||||
| Net income | $ | 97,632 | $ | 98,810 | -1.2 | % | ||||||||||
| Income per share available to common shareholders | ||||||||||||||||
| Basic | $ | 8.18 | $ | 7.77 | 5.4 | % | ||||||||||
| Diluted | $ | 8.03 | $ | 7.63 | 5.3 | % | ||||||||||
| Weighted-average common shares outstanding | ||||||||||||||||
| Basic | 11,933,229 | 12,723,788 | -6.2 | % | ||||||||||||
| Diluted | 12,153,212 | 12,949,445 | -6.1 | % | ||||||||||||
| Dividends per share | $ | 2.40 | $ | 2.25 | 6.7 | % | ||||||||||
| PREFERRED BANK | ||||||||||
| Condensed Consolidated Statements of Financial Condition | ||||||||||
| (unaudited) | ||||||||||
| (in thousands) | ||||||||||
| September 30, | December 31, | |||||||||
| 2026 | 2025 | |||||||||
| (Unaudited) | (Audited) | |||||||||
| Assets | ||||||||||
| Cash and due from banks | $ | 681,029 | $ | 807,098 | ||||||
| Fed funds sold | 20,000 | 20,000 | ||||||||
| Cash and cash equivalents | 701,029 | 827,098 | ||||||||
| Securities held-to-maturity, at amortized cost | 17,834 | 18,749 | ||||||||
| Securities available-for-sale, at fair value | 672,082 | 566,186 | ||||||||
| Loans held for sale, at lower of cost or fair value | 56,557 | - | ||||||||
| Loans | 6,198,293 | 6,054,264 | ||||||||
| Less allowance for credit losses | (78,284 | ) | (78,992 | ) | ||||||
| Less amortized deferred loan fees, net | (7,611 | ) | (9,030 | ) | ||||||
| Loans, net | 6,112,398 | 5,966,242 | ||||||||
| Other real estate owned and repossessed assets | 11,534 | 3,510 | ||||||||
| Bank furniture and fixtures, net | 10,888 | 8,064 | ||||||||
| Bank-owned life insurance | 10,924 | 10,712 | ||||||||
| Accrued interest receivable | 38,349 | 34,233 | ||||||||
| Investment in affordable housing partnerships | 79,047 | 69,978 | ||||||||
| Federal Home Loan Bank stock, at cost | 15,000 | 15,000 | ||||||||
| Deferred tax assets | 55,015 | 41,976 | ||||||||
| Income tax receivable | 3,513 | 3,884 | ||||||||
| Operating lease right-of-use assets | 27,679 | 30,531 | ||||||||
| Other assets | 4,172 | 5,002 | ||||||||
| Total assets | $ | 7,816,021 | $ | 7,601,165 | ||||||
| Liabilities and shareholders' Equity | ||||||||||
| Deposits: | ||||||||||
| Noninterest bearing demand deposits | $ | 745,763 | $ | 699,160 | ||||||
| Interest bearing deposits: | 2,321,924 | 2,205,914 | ||||||||
| Savings | 29,840 | 30,376 | ||||||||
| Time certificates of $250,000 or more | 1,830,163 | 1,754,273 | ||||||||
| Other time certificates | 1,622,184 | 1,655,723 | ||||||||
| Total deposits | 6,549,874 | 6,345,446 | ||||||||
| Advances from Federal Home Loan Bank | 200,000 | 200,000 | ||||||||
| Subordinated debt issuance, net | 148,884 | 148,706 | ||||||||
| Commitments to fund investment in affordable housing partnerships | 32,040 | 23,327 | ||||||||
| Operating lease liabilities | 32,184 | 35,107 | ||||||||
| Accrued interest payable | 16,779 | 16,513 | ||||||||
| Other liabilities | 43,827 | 42,589 | ||||||||
| Total liabilities | 7,023,588 | 6,811,688 | ||||||||
| Shareholders' equity | 792,433 | 789,477 | ||||||||
| Total liabilities and shareholders' equity | $ | 7,816,021 | $ | 7,601,165 | ||||||
| Book value per common share | $ | 66.85 | $ | 64.83 | ||||||
| Number of common shares outstanding | 11,853,571 | 12,177,588 | ||||||||
| PREFERRED BANK | ||||||||||||||||||||||
| Selected Consolidated Financial Information | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||
| (in thousands, except for ratios) | ||||||||||||||||||||||
| For the Quarter Ended | ||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||
| Unaudited historical quarterly operations data: | ||||||||||||||||||||||
| Interest income | $ | 120,682 | $ | 122,446 | $ | 116,875 | $ | 124,633 | $ | 126,850 | ||||||||||||
| Interest expense | 53,971 | 52,456 | 51,562 | 54,658 | 55,540 | |||||||||||||||||
| Interest income before provision for credit losses | 66,711 | 69,990 | 65,313 | 69,975 | 71,310 | |||||||||||||||||
| Provision for credit losses | 2,000 | 1,200 | 1,500 | 4,300 | 2,500 | |||||||||||||||||
| Noninterest income | 4,992 | 3,483 | 4,310 | 8,094 | 3,665 | |||||||||||||||||
| Noninterest expense | 22,159 | 23,715 | 23,539 | 24,377 | 21,498 | |||||||||||||||||
| Income tax expense | 14,596 | 15,018 | 13,440 | 14,570 | 15,038 | |||||||||||||||||
| Net income | $ | 32,948 | $ | 33,540 | $ | 31,144 | $ | 34,822 | $ | 35,939 | ||||||||||||
| Earnings per share | ||||||||||||||||||||||
| Basic | $ | 2.78 | $ | 2.83 | $ | 2.57 | $ | 2.85 | $ | 2.90 | ||||||||||||
| Diluted | $ | 2.73 | $ | 2.78 | $ | 2.53 | $ | 2.79 | $ | 2.84 | ||||||||||||
| Ratios for the period: | ||||||||||||||||||||||
| Return on average assets | 1.69 | % | 1.75 | % | 1.67 | % | 1.82 | % | 1.93 | % | ||||||||||||
| Return on average equity | 16.18 | % | 17.05 | % | 15.89 | % | 17.59 | % | 18.64 | % | ||||||||||||
| Net interest margin (fully-taxable equivalent) | 3.49 | % | 3.73 | % | 3.57 | % | 3.74 | % | 3.92 | % | ||||||||||||
| Noninterest expense to average assets | 1.14 | % | 1.24 | % | 1.26 | % | 1.27 | % | 1.16 | % | ||||||||||||
| Efficiency ratio | 30.90 | % | 32.28 | % | 33.81 | % | 31.22 | % | 28.67 | % | ||||||||||||
| Net charge-offs (recoveries) to average loans (annualized) | -0.00 | % | -0.00 | % | 0.37 | % | 0.00 | % | 0.11 | % | ||||||||||||
| Ratios as of period end: | ||||||||||||||||||||||
| Tangible common equity ratio | 10.13 | % | 10.26 | % | 10.05 | % | 10.38 | % | 10.38 | % | ||||||||||||
| Tier 1 leverage capital ratio | 10.78 | % | 10.55 | % | 10.37 | % | 10.54 | % | 10.66 | % | ||||||||||||
| Common equity tier 1 risk-based capital ratio | 11.26 | % | 11.06 | % | 10.87 | % | 11.26 | % | 11.34 | % | ||||||||||||
| Tier 1 risk-based capital ratio | 11.26 | % | 11.06 | % | 10.87 | % | 11.26 | % | 11.34 | % | ||||||||||||
| Total risk-based capital ratio | 13.93 | % | 13.74 | % | 13.98 | % | 14.47 | % | 14.56 | % | ||||||||||||
| Allowances for credit losses to loans at end of period | 1.26 | % | 1.22 | % | 1.24 | % | 1.30 | % | 1.27 | % | ||||||||||||
| Allowance for credit losses to non-performing loans | 0.75 | x | 0.84 | x | 0.8 | x | 1.54 | x | 4.24 | x | ||||||||||||
| Average balances: | ||||||||||||||||||||||
| Total securities | $ | 610,837 | $ | 558,696 | $ | 580,248 | $ | 586,950 | $ | 583,302 | ||||||||||||
| Total loans held for investment | 6,191,538 | 6,021,420 | 6,037,241 | 5,947,814 | 5,753,801 | |||||||||||||||||
| Total loans held for investment and held for sale | 6,200,211 | 6,038,330 | 6,051,465 | 5,947,986 | 5,754,073 | |||||||||||||||||
| Total earning assets | 7,587,420 | 7,532,781 | 7,437,232 | 7,439,767 | 7,234,568 | |||||||||||||||||
| Total assets | 7,733,141 | 7,668,719 | 7,563,705 | 7,585,940 | 7,382,265 | |||||||||||||||||
| Total time certificate of deposits | 3,468,041 | 3,500,857 | 3,451,924 | 3,402,304 | 3,330,241 | |||||||||||||||||
| Total interest bearing deposits | 5,714,126 | 5,712,097 | 5,644,722 | 5,651,369 | 5,501,767 | |||||||||||||||||
| Total deposits | 6,456,558 | 6,420,198 | 6,311,446 | 6,336,242 | 6,169,728 | |||||||||||||||||
| Total interest bearing liabilities | 6,062,973 | 6,060,886 | 5,993,452 | 6,000,042 | 5,850,376 | |||||||||||||||||
| Total equity | 807,742 | 789,114 | 794,931 | 785,581 | 764,766 | |||||||||||||||||
| PREFERRED BANK | ||||||||||
| Selected Consolidated Financial Information | ||||||||||
| (unaudited) | ||||||||||
| (in thousands, except for ratios) | ||||||||||
| For the Nine Months Ended | ||||||||||
| September 30 | September 30 | |||||||||
| 2026 | 2025 | |||||||||
| Interest income | $ | 360,003 | $ | 361,822 | ||||||
| Interest expense | 157,989 | 160,980 | ||||||||
| Interest income before provision for credit losses | 202,014 | 200,842 | ||||||||
| Provision for credit losses | 4,700 | 4,800 | ||||||||
| Noninterest income | 12,785 | 11,425 | ||||||||
| Noninterest expense | 69,413 | 67,312 | ||||||||
| Income tax expense | 43,054 | 41,345 | ||||||||
| Net income | $ | 97,632 | $ | 98,810 | ||||||
| Earnings per share | ||||||||||
| Basic | $ | 8.18 | $ | 7.77 | ||||||
| Diluted | $ | 8.03 | $ | 7.63 | ||||||
| Ratios for the period: | ||||||||||
| Return on average assets | 1.71 | % | 1.85 | % | ||||||
| Return on average equity | 16.37 | % | 17.27 | % | ||||||
| Net interest margin (fully-taxable equivalent) | 3.60 | % | 3.84 | % | ||||||
| Noninterest expense to average assets | 1.21 | % | 1.26 | % | ||||||
| Efficiency ratio | 32.32 | % | 31.71 | % | ||||||
| Net charge-off to average loans | 0.12 | % | 0.04 | % | ||||||
| Average balances: | ||||||||||
| Total securities | $ | 583,373 | $ | 497,301 | ||||||
| Total loans held for investment | 6,083,964 | 5,644,668 | ||||||||
| Total loans held for investment and held for sale | 6,097,213 | 5,648,323 | ||||||||
| Total earning assets | 7,519,694 | 7,001,424 | ||||||||
| Total assets | 7,655,809 | 7,137,935 | ||||||||
| Total time certificate of deposits | 3,473,667 | 3,272,717 | ||||||||
| Total interest bearing deposits | 5,690,570 | 5,364,715 | ||||||||
| Total deposits | 6,396,600 | 6,021,497 | ||||||||
| Total interest bearing liabilities | 6,039,359 | 5,620,958 | ||||||||
| Total equity | 797,309 | 764,826 | ||||||||
| PREFERRED BANK | ||||||||||||||||||||||
| Selected Consolidated Financial Information | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||
| (in thousands, except for ratios) | ||||||||||||||||||||||
| As of | ||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||
| Unaudited quarterly statement of financial position data: | ||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||
| Cash and cash equivalents | $ | 701,029 | $ | 789,820 | $ | 825,161 | $ | 827,098 | $ | 815,459 | ||||||||||||
| Securities held-to-maturity, at amortized cost | 17,834 | 18,154 | 18,458 | 18,749 | 19,034 | |||||||||||||||||
| Securities available-for-sale, at fair value | 672,082 | 525,956 | 553,184 | 566,186 | 569,115 | |||||||||||||||||
| Loans: | ||||||||||||||||||||||
| Real estate – mortgage: | ||||||||||||||||||||||
| Real estate—residential | $ | 745,775 | $ | 737,321 | $ | 738,508 | $ | 783,136 | $ | 793,217 | ||||||||||||
| Real estate—commercial | 3,127,696 | 3,169,037 | 3,105,331 | 3,028,762 | 2,890,990 | |||||||||||||||||
| Total Real estate – mortgage | 3,873,471 | 3,906,358 | 3,843,839 | 3,811,898 | 3,684,207 | |||||||||||||||||
| Real estate – construction: | ||||||||||||||||||||||
| R/E construction — residential | 282,750 | 284,219 | 265,748 | 282,808 | 285,623 | |||||||||||||||||
| R/E construction — commercial | 356,582 | 364,807 | 343,598 | 387,759 | 323,897 | |||||||||||||||||
| Total real estate construction loans | 639,332 | 649,026 | 609,346 | 670,567 | 609,520 | |||||||||||||||||
| Commercial and industrial | 1,676,780 | 1,675,300 | 1,584,984 | 1,563,504 | 1,570,423 | |||||||||||||||||
| SBA | 8,598 | 8,444 | 8,087 | 8,053 | 7,630 | |||||||||||||||||
| Consumer and others | 112 | 153 | 288 | 242 | 231 | |||||||||||||||||
| Gross loans | 6,198,293 | 6,239,281 | 6,046,544 | 6,054,264 | 5,872,011 | |||||||||||||||||
| Allowance for credit losses on loans | (78,284 | ) | (76,276 | ) | (75,036 | ) | (78,992 | ) | (74,692 | ) | ||||||||||||
| Net deferred loan fees | (7,611 | ) | (8,288 | ) | (7,923 | ) | (9,030 | ) | (9,956 | ) | ||||||||||||
| Net loans, excluding loans held for sale | $ | 6,112,398 | $ | 6,154,717 | $ | 5,963,585 | $ | 5,966,242 | $ | 5,787,363 | ||||||||||||
| Loans held for sale | $ | 56,557 | $ | 8,348 | $ | 76,324 | $ | - | $ | - | ||||||||||||
| Net loans | $ | 6,168,955 | $ | 6,163,065 | $ | 6,039,909 | $ | 5,966,242 | $ | 5,787,363 | ||||||||||||
| Other real estate owned and repossessed assets | $ | 11,534 | $ | 3,010 | $ | 3,010 | $ | 3,510 | $ | 52,609 | ||||||||||||
| Investment in affordable housing partnerships | 79,047 | 77,729 | 66,394 | 69,978 | 73,874 | |||||||||||||||||
| Federal Home Loan Bank stock, at cost | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | |||||||||||||||||
| Other assets | 150,540 | 137,887 | 133,521 | 134,402 | 135,340 | |||||||||||||||||
| Total assets | $ | 7,816,021 | $ | 7,730,621 | $ | 7,654,637 | $ | 7,601,165 | $ | 7,467,794 | ||||||||||||
| Liabilities: | ||||||||||||||||||||||
| Deposits: | ||||||||||||||||||||||
| Demand | $ | 745,763 | $ | 754,670 | $ | 716,777 | $ | 699,160 | $ | 654,302 | ||||||||||||
| Interest bearing demand | 2,321,924 | 2,209,390 | 2,200,374 | 2,205,914 | 2,205,865 | |||||||||||||||||
| Savings | 29,840 | 31,617 | 26,822 | 30,376 | 31,087 | |||||||||||||||||
| Time certificates of $250,000 or more | 1,830,163 | 1,822,765 | 1,795,883 | 1,754,273 | 1,699,757 | |||||||||||||||||
| Other time certificates | 1,622,184 | 1,653,766 | 1,680,291 | 1,655,723 | 1,638,662 | |||||||||||||||||
| Total deposits | $ | 6,549,874 | $ | 6,472,208 | $ | 6,420,147 | $ | 6,345,446 | $ | 6,229,673 | ||||||||||||
| Advance from Federal Home Loan Bank | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |||||||||||||||||
| Subordinated debt issuance, net | 148,884 | 148,825 | 148,766 | 148,706 | 148,647 | |||||||||||||||||
| Commitments to fund investment in affordable housing partnerships | 32,040 | 29,949 | 18,873 | 23,327 | 24,874 | |||||||||||||||||
| Other liabilities | 92,790 | 86,112 | 96,652 | 94,209 | 88,958 | |||||||||||||||||
| Total liabilities | $ | 7,023,588 | $ | 6,937,094 | $ | 6,884,438 | $ | 6,811,688 | $ | 6,692,152 | ||||||||||||
| Equity: | ||||||||||||||||||||||
| Common stock, no par value | $ | 210,882 | $ | 210,882 | $ | 210,882 | $ | 210,882 | $ | 210,882 | ||||||||||||
| Additional paid-in capital | 113,018 | 110,913 | 108,853 | 105,105 | 103,235 | |||||||||||||||||
| Treasury stock | (334,626 | ) | (334,591 | ) | (334,490 | ) | (293,406 | ) | (277,351 | ) | ||||||||||||
| Retained earnings | 849,830 | 826,365 | 802,308 | 780,637 | 755,587 | |||||||||||||||||
| Accumulated other comprehensive income | (46,671 | ) | (20,042 | ) | (17,354 | ) | (13,741 | ) | (16,711 | ) | ||||||||||||
| Total shareholders' equity | $ | 792,433 | $ | 793,527 | $ | 770,199 | $ | 789,477 | $ | 775,642 | ||||||||||||
| Total liabilities and shareholders' equity | $ | 7,816,021 | $ | 7,730,621 | $ | 7,654,637 | $ | 7,601,165 | $ | 7,467,794 | ||||||||||||
| PREFERRED BANK | ||||||||||||||||||||||||||||||||||
| Quarter-to-Date Average Balances, Yield and Rates | ||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||
| Three months ended September 30, | Three months ended June 30, | Three months ended September 30, | ||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2025 | ||||||||||||||||||||||||||||||||
| Interest | Average | Interest | Average | Interest | Average | |||||||||||||||||||||||||||||
| Average | Income or | Yield/ | Average | Income or | Yield/ | Average | Income or | Yield/ | ||||||||||||||||||||||||||
| Balance | Expense | Rate | Balance | Expense | Rate | Balance | Expense | Rate | ||||||||||||||||||||||||||
| Assets | (Dollars in thousands) | |||||||||||||||||||||||||||||||||
| Interest earning assets: | ||||||||||||||||||||||||||||||||||
| Loans(1,2) | $ | 6,200,211 | $ | 106,517 | 6.82 | % | $ | 6,038,330 | $ | 108,358 | 7.20 | % | $ | 5,754,073 | $ | 110,645 | 7.63 | % | ||||||||||||||||
| Investment securities(3) | 610,837 | 6,499 | 4.22 | % | 558,696 | 5,611 | 4.03 | % | 583,302 | 6,257 | 4.26 | % | ||||||||||||||||||||||
| Federal funds sold | 20,648 | 199 | 3.82 | % | 21,538 | 205 | 3.82 | % | 20,000 | 228 | 4.52 | % | ||||||||||||||||||||||
| Other earning assets | 755,724 | 7,561 | 3.97 | % | 914,217 | 8,364 | 3.67 | % | 877,193 | 9,811 | 4.44 | % | ||||||||||||||||||||||
| Total interest earning assets | 7,587,420 | 120,776 | 6.32 | % | 7,532,781 | 122,538 | 6.52 | % | 7,234,568 | 126,941 | 6.96 | % | ||||||||||||||||||||||
| Deferred loan fees, net | (8,072 | ) | (8,139 | ) | (10,686 | ) | ||||||||||||||||||||||||||||
| Allowance for credit losses on loans | (76,309 | ) | (75,675 | ) | (72,784 | ) | ||||||||||||||||||||||||||||
| Noninterest earning assets: | ||||||||||||||||||||||||||||||||||
| Cash and due from banks | 11,412 | 11,141 | 10,071 | |||||||||||||||||||||||||||||||
| Bank furniture and fixtures | 10,803 | 9,694 | 7,945 | |||||||||||||||||||||||||||||||
| Right of use assets | 28,288 | 29,211 | 19,153 | |||||||||||||||||||||||||||||||
| Other assets | 179,599 | 169,706 | 193,998 | |||||||||||||||||||||||||||||||
| Total assets | $ | 7,733,141 | $ | 7,668,719 | $ | 7,382,265 | ||||||||||||||||||||||||||||
| Liabilities and shareholders' equity | ||||||||||||||||||||||||||||||||||
| Interest bearing liabilities: | ||||||||||||||||||||||||||||||||||
| Deposits: | ||||||||||||||||||||||||||||||||||
| Interest bearing demand and savings | $ | 2,246,085 | $ | 16,082 | 2.84 | % | $ | 2,211,240 | $ | 15,699 | 2.85 | % | $ | 2,171,526 | $ | 17,629 | 3.22 | % | ||||||||||||||||
| TCD $250K or more | 1,817,686 | 17,296 | 3.78 | % | 1,812,356 | 17,065 | 3.78 | % | 1,686,710 | 17,406 | 4.09 | % | ||||||||||||||||||||||
| Other time certificates | 1,650,355 | 16,145 | 3.88 | % | 1,688,501 | 16,432 | 3.90 | % | 1,643,531 | 17,386 | 4.20 | % | ||||||||||||||||||||||
| Total interest bearing deposits | 5,714,126 | 49,523 | 3.44 | % | 5,712,097 | 49,196 | 3.45 | % | 5,501,767 | 52,421 | 3.78 | % | ||||||||||||||||||||||
| Advance from Federal Home Loan Bank | 200,000 | 1,877 | 3.72 | % | 200,000 | 1,743 | 3.50 | % | 200,000 | 1,794 | 3.56 | % | ||||||||||||||||||||||
| Subordinated debt, net | 148,847 | 2,571 | 6.85 | % | 148,789 | 1,517 | 4.09 | % | 148,609 | 1,325 | 3.54 | % | ||||||||||||||||||||||
| Total interest bearing liabilities | 6,062,973 | 53,971 | 3.53 | % | 6,060,886 | 52,456 | 3.47 | % | 5,850,376 | 55,540 | 3.77 | % | ||||||||||||||||||||||
| Noninterest bearing liabilities: | ||||||||||||||||||||||||||||||||||
| Demand deposits | 742,432 | 708,101 | 667,961 | |||||||||||||||||||||||||||||||
| Lease liability | 32,888 | 33,946 | 22,908 | |||||||||||||||||||||||||||||||
| Other liabilities | 87,106 | 76,672 | 76,254 | |||||||||||||||||||||||||||||||
| Total liabilities | 6,925,399 | 6,879,605 | 6,617,499 | |||||||||||||||||||||||||||||||
| Shareholders’ equity | 807,742 | 789,114 | 764,766 | |||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 7,733,141 | $ | 7,668,719 | $ | 7,382,265 | ||||||||||||||||||||||||||||
| Net interest income | $ | 66,805 | $ | 70,082 | $ | 71,401 | ||||||||||||||||||||||||||||
| Net interest spread | 2.78 | % | 3.05 | % | 3.19 | % | ||||||||||||||||||||||||||||
| Net interest margin | 3.49 | % | 3.73 | % | 3.92 | % | ||||||||||||||||||||||||||||
| Cost of Deposits: | ||||||||||||||||||||||||||||||||||
| Noninterest bearing demand deposits | $ | 742,432 | $ | 708,101 | $ | 667,961 | ||||||||||||||||||||||||||||
| Interest bearing deposits | 5,714,126 | 49,523 | 3.44 | % | 5,712,097 | 49,196 | 3.45 | % | 5,501,767 | 52,421 | 3.78 | % | ||||||||||||||||||||||
| Total Deposits | $ | 6,456,558 | $ | 49,523 | 3.04 | % | $ | 6,420,198 | $ | 49,196 | 3.07 | % | $ | 6,169,728 | $ | 52,421 | 3.37 | % | ||||||||||||||||
| (1) | Includes non-accrual loans and loans held for sale | |||||||||||||||||||||||||||||||||
| (2) | Net loan fee income of $0.8 million, $1.2 million and $1.7 million for the quarter ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively, are included in the yield computations | |||||||||||||||||||||||||||||||||
| (3) | Yields on securities have been adjusted to a tax-equivalent basis | |||||||||||||||||||||||||||||||||
| PREFERRED BANK | |||||||||||||||||||||
| Year-to-Date Average Balances, Yield, and Rates | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| Nine Months ended September 30, | |||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||
| Interest | Average | Interest | Average | ||||||||||||||||||
| Average | Income or | Yield/ | Average | Income or | Yield/ | ||||||||||||||||
| Balance | Expense | Rate | Balance | Expense | Rate | ||||||||||||||||
| Assets | (Dollars in thousands) | ||||||||||||||||||||
| Interest earning assets: | |||||||||||||||||||||
| Loans(1,2) | $ | 6,097,213 | $ | 318,257 | 6.98 | % | $ | 5,648,323 | $ | 318,020 | 7.53 | % | |||||||||
| Investment securities(3) | 583,373 | 17,822 | 4.08 | % | 497,301 | 15,546 | 4.18 | % | |||||||||||||
| Federal funds sold | 20,898 | 596 | 3.81 | % | 20,244 | 689 | 4.55 | % | |||||||||||||
| Other earning assets | 818,210 | 23,606 | 3.86 | % | 835,556 | 27,857 | 4.46 | % | |||||||||||||
| Total interest earning assets | 7,519,694 | 360,281 | 6.41 | % | 7,001,424 | 362,112 | 6.91 | % | |||||||||||||
| Deferred loan fees, net | (8,181 | ) | (9,965 | ) | |||||||||||||||||
| Allowance for credit losses on loans | (76,980 | ) | (72,225 | ) | |||||||||||||||||
| Noninterest earning assets: | |||||||||||||||||||||
| Cash and due from banks | 10,872 | 11,178 | |||||||||||||||||||
| Bank furniture and fixtures | 9,677 | 8,198 | |||||||||||||||||||
| Right of use assets | 29,224 | 18,105 | |||||||||||||||||||
| Other assets | 171,503 | 181,220 | |||||||||||||||||||
| Total assets | $ | 7,655,809 | $ | 7,137,935 | |||||||||||||||||
| Liabilities and shareholders' equity | |||||||||||||||||||||
| Interest bearing liabilities: | |||||||||||||||||||||
| Deposits: | |||||||||||||||||||||
| Interest bearing demand/ savings | $ | 2,216,903 | $ | 46,955 | 2.83 | % | $ | 2,091,998 | $ | 50,530 | 3.23 | % | |||||||||
| TCD $250K or more | 1,801,206 | 51,247 | 3.80 | % | 1,605,201 | 50,138 | 4.18 | % | |||||||||||||
| Other time certificates | 1,672,461 | 49,064 | 3.92 | % | 1,667,516 | 53,473 | 4.29 | % | |||||||||||||
| Total interest \bearing deposits | 5,690,570 | 147,266 | 3.46 | % | 5,364,715 | 154,141 | 3.84 | % | |||||||||||||
| Short-term borrowings | 1 | 0 | 2.77 | % | - | - | 0.00 | % | |||||||||||||
| Advance from Federal Home Loan Bank | 200,000 | 5,310 | 3.55 | % | 107,692 | 2,864 | 3.56 | % | |||||||||||||
| Subordinated debt, net | 148,788 | 5,413 | 4.86 | % | 148,551 | 3,975 | 3.58 | % | |||||||||||||
| Total interest bearing liabilities | 6,039,359 | 157,989 | 3.50 | % | 5,620,958 | 160,980 | 3.83 | % | |||||||||||||
| Noninterest bearing liabilities: | |||||||||||||||||||||
| Demand deposits | 706,030 | 656,782 | |||||||||||||||||||
| Lease liability | 33,899 | 21,857 | |||||||||||||||||||
| Other liabilities | 79,212 | 73,512 | |||||||||||||||||||
| Total liabilities | 6,858,500 | 6,373,109 | |||||||||||||||||||
| Shareholders’ equity | 797,309 | 764,826 | |||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 7,655,809 | $ | 7,137,935 | |||||||||||||||||
| Net interest income | $ | 202,292 | $ | 201,132 | |||||||||||||||||
| Net interest spread | 2.91 | % | 3.09 | % | |||||||||||||||||
| Net interest margin | 3.60 | % | 3.84 | % | |||||||||||||||||
| Cost of Deposits: | |||||||||||||||||||||
| Noninterest bearing demand deposits | $ | 706,030 | $ | 656,782 | |||||||||||||||||
| Interest bearing deposits | 5,690,570 | 147,266 | 3.46 | % | 5,364,715 | 154,141 | 3.84 | % | |||||||||||||
| Total Deposits | $ | 6,396,600 | $ | 147,266 | 3.08 | % | $ | 6,021,497 | $ | 154,141 | 3.42 | % | |||||||||
| (1) | Includes non-accrual loans and loans held for sale | ||||||||||||||||||||
| (2) | Net loan fee income of $3.2 million and $3.6 million for the nine months ended September 30, 2026 and 2025, respectively, are included in the yield computations | ||||||||||||||||||||
| (3) | Yields on securities have been adjusted to a tax-equivalent basis | ||||||||||||||||||||
| Preferred Bank | |||||||||||
| Loan and Credit Quality Information | |||||||||||
| Allowance For Credit Losses History | |||||||||||
| Nine Months Ended | Year Ended | ||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| (Dollars in 000's) | |||||||||||
| Allowance for credit losses | |||||||||||
| Balance at beginning of period | $ | 78,992 | $ | 71,477 | |||||||
| Charge-Offs | |||||||||||
| Commercial & Industrial | 2,555 | 8 | |||||||||
| Mini-perm real estate | 3,833 | 1,749 | |||||||||
| Total charge-offs | 6,388 | 1,757 | |||||||||
| Recoveries | |||||||||||
| Commercial & Industrial | 112 | 172 | |||||||||
| Mini-perm real estate | 868 | - | |||||||||
| Total recoveries | 980 | 172 | |||||||||
| Net charge-offs | 5,408 | 1,585 | |||||||||
| Provision for dredit losses | 4,700 | 9,100 | |||||||||
| Balance at dnd of period | $ | 78,284 | $ | 78,992 | |||||||
| Average loans held for investment | $ | 6,083,964 | $ | 5,721,077 | |||||||
| Loans held for investment at end of period | $ | 6,198,293 | $ | 6,054,264 | |||||||
| Net charge-offs to average loans | 0.12 | % | 0.03 | % | |||||||
| Allowances for credit losses to loans at end of period | 1.26 | % | 1.30 | % | |||||||
| AT THE COMPANY: | AT FINANCIAL PROFILES: |
| Edward J. Czajka | Jeffrey Haas |
| Executive Vice President | General Information |
| Chief Financial Officer | (310) 622-8240 |
| (213) 891-1188 | PFBC@finprofiles.com |
