Profile: Preferred Bank (PFBC.OQ)
Preferred Bank, incorporated on September 9, 1991, is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management. The Bank offers checking accounts, savings accounts and loans. Its treasury management solutions include information solutions, deposit solutions, payment solutions and liquidity solutions. Through its branch network, the Bank provides a range of financial services to individuals and companies located primarily in Southern California.
The Bank's loan portfolio includes real estate mortgage loans, real estate construction loans, commercial loans and trade finance. Its real estate mortgage portfolio consists of real estate mini-perm loans, as well as purchased residential mortgages. The Bank offers a range of commercial loan products, including lines of credit for working capital, term loans for capital expenditures and commercial and stand-by letters of credit. The Bank offers various services to importers, including commercial letters of credit, import lines of credit, documentary collections, international wire transfers and acceptances/trust receipt financing. It offers various services to exporters, including export letters of credit, export finance, documentary collections, bills purchase program and international wire transfers. The Bank's total net loans amount to approximately $2.40 billion.
The Bank's portfolio of investment securities consists of investment grade corporate notes, the United States agency mortgage-backed securities (MBS), municipal bonds, collateralized mortgage obligations (CMOs) and the United States Government agency securities, and small business administration (SBA) securities. The Bank's total securities available-for-sale amount to approximately $203.27 million.
Sources of Funds
The Bank provides a range of deposit products, which include demand, interest-bearing demand, savings and other time certificates. The Bank offers regular checking, savings, negotiable order of withdrawal (NOW) and money market deposit accounts; fixed-rate, fixed maturity retail certificates of deposit ranging in terms from 14 days to two years, and individual retirement accounts and non-retail certificates of deposit consisting of Jumbo certificates of deposit. The Bank's total deposits amount to approximately $2.65 billion.
601 S Figueroa St
LOS ANGELES CA 90017-5704