Preferred Bank

Preferred Bank is a commercial bank that offers a range of financial products and services to individuals, businesses, and government entities. The bank was founded in 1991 and is headquartered in Los Angeles, California. It operates as a subsidiary of Preferred Bancshares Inc.
The bank has a network of 13 branches located throughout California, as well as loan production offices in California, Texas, and Washington. It offers a variety of banking services, including checking and savings accounts, loans, credit cards, and online banking.
Preferred Bank focuses on providing personalized and responsive customer service, and its mission is to be the preferred financial partner for its clients. It prides itself on being a community-oriented bank, with a commitment to supporting local businesses and organizations.
The bank has received several accolades and awards for its financial performance and customer service, including being named a “Best Bank in California” by Forbes Magazine and receiving a 5-star rating from Bauer Financial, Inc.
Preferred Bank is also dedicated to promoting diversity and inclusion within its workforce and the communities it serves. It has been recognized for its efforts in this area, including being named a “Best Place to Work for LGBTQ Equality” by the Human Rights Campaign Foundation.
In addition to its products and services, Preferred Bank also offers various resources and educational materials on its website to help customers make informed financial decisions. It also has a strong commitment to financial literacy, providing financial education programs for children and adults in the communities it serves.
Overall, Preferred Bank is a customer-focused, community-oriented financial institution with a strong commitment to excellence and inclusivity.

1. Focused on serving the Asian-American community:
Preferred Bank has a deep understanding of the unique needs and banking preferences of the Asian-American community. They have developed tailored products and services to cater to this specific audience, making them a preferred choice among this demographic.
2. Strong financial stability:
The company has consistently shown strong financial performance, with steady growth in assets, deposits, and profits. This not only instills confidence in customers but also makes them a reliable partner for businesses and investors.
3. Personalized approach to banking:
Preferred Bank takes a personalized approach to banking, with a focus on building long-term relationships with customers. They offer personalized service and customized solutions to meet the specific needs of each individual or business.
4. Local decision-making:
Unlike larger banks, Preferred Bank operates with a decentralized decision-making process. This means that decisions are made locally, by individuals who have a deep understanding of the local market and community. This leads to faster and more efficient decision-making for customers.
5. Technology-driven:
Preferred Bank has invested in the latest technology to improve the banking experience for customers. This includes online and mobile banking services, making banking more convenient and accessible for their customers.
6. Community involvement:
The company is active in giving back to the community through various initiatives and partnerships. They have a strong commitment to social responsibility and are actively involved in supporting local charities and organizations.
7. Awards and recognition:
Preferred Bank has been consistently recognized for its excellence in banking. They have received numerous awards and accolades, including being named one of the "Best Banks to Work For" by American Banker magazine.
8. Experienced leadership:
The company is led by a team of experienced professionals with a deep understanding of the banking industry. Their expertise and leadership have played a vital role in the success and growth of the company.
9. Diverse and inclusive workplace:
Preferred Bank promotes diversity and inclusivity in their workplace, valuing the contributions of all employees regardless of their background. This has created a dynamic and diverse workforce, promoting creativity and innovation.
10. Commitment to customer satisfaction:
Above all, Preferred Bank is committed to providing excellent customer service. They strive to meet the needs and exceed the expectations of their customers, making them a trusted and preferred choice for banking needs.

Preferred Bank is a Los Angeles-based bank that primarily focuses on providing commercial banking services to small and mid-sized businesses, real estate developers, and professional firms. They emphasize their commitment to building long-term relationships with their clients and providing personalized service.
The bank's business model is centered around four main pillars: commercial and industrial lending, real estate lending, trade finance, and depository services. They offer a range of commercial and industrial loans, including lines of credit, term loans, and equipment financing to support businesses in various industries. The bank also specializes in providing real estate financing for commercial and residential properties.
In addition, Preferred Bank offers trade finance services to assist clients with international transactions, including letters of credit, export financing, and foreign currency exchange. They also provide traditional depository services such as checking accounts, savings accounts, and cash management solutions to help clients manage their funds efficiently.
The bank's business model also emphasizes strong credit and risk management practices, as well as maintaining a solid balance sheet with a focus on sustainable growth and profitability. They strive to differentiate themselves from larger, more traditional banks by offering more personalized and efficient service to their clients.
Overall, the Preferred Bank business model combines traditional commercial banking services with a focus on building relationships and providing customized solutions for their clients' financial needs.

and its history
1. Preferred Bank is a commercial bank that is headquartered in Los Angeles, California. It was founded in 1991 and has since become a major player in the banking industry.
2. The bank was initially named International Bank of California and primarily focused on providing services for the Asian-American community.
3. In 2007, the bank rebranded and changed its name to Preferred Bank. This move was to reflect its expanded customer base and services beyond the Asian-American community.
4. The Chairman of Preferred Bank, Li Yu, is one of the founders of East West Bank, another major bank in the United States.
5. Preferred Bank has a strong presence in the California market, with over 15 branches throughout the state.
6. The bank offers a range of financial services including personal and business banking, mortgage loans, and SBA loans.
7. Preferred Bank has been recognized as one of the top-performing banks in the United States by both Forbes and American Banker.
8. The bank has received numerous awards for its community involvement, including being named a Top Corporate Philanthropist by the Los Angeles Business Journal.
9. In 2017, Preferred Bank expanded its operations to include a branch in Shanghai, China. This was a major move for the bank and a testament to its global reach.
10. In 2019, Preferred Bank was ranked as the #1 Small Business Administration lender in the country by dollar volume, according to the Small Business Administration.
11. The bank has a strong commitment to diversity and inclusion, with over 80% of its workforce being women and minorities.
12. Preferred Bank has consistently been recognized for its financial stability and strength, with a 5-star rating from Bauer Financial and a A+ rating from Weiss Ratings.
13. The bank has a strong focus on digital banking, offering online banking, mobile banking, and other electronic services to customers.
14. Preferred Bank is known for its personalized customer service and has been praised for its high customer satisfaction rates.
15. The bank is listed on the NASDAQ stock exchange under the ticker symbol PFBC.