CORRECTION – Preferred Bank Announces Quarterly Cash Dividend

LOS ANGELES, March 20, 2024 (GLOBE NEWSWIRE) — In a release issued under the same headline today by Preferred Bank, (NASDAQ: PFBC), please note that in the first paragraph, the dividend payable date should read April 19, 2024, and the record date should read April 5, 2024. The corrected release follows:

Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash dividend of $0.70 per share, payable on April 19, 2024 to holders of record on April 5, 2024.

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 twelve full-service branch banking offices in the California cities of Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2 branches), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2 branches) and one branch in Flushing, New York and one branch in the Houston suburb of Sugar Land, Texas. Additionally, the Bank also has a satellite office in Manhattan, New York. 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.