Preferred Bank: Q4 Financial Highlights

Preferred Bank Exceeds Q4 Earnings Projections

Preferred Bank, headquartered in Los Angeles, announced a net income of $34.8 million for the fourth quarter.

The bank reported earnings of $2.79 per share, surpassing the $2.78 per share consensus forecast from four analysts polled by Zacks Investment Research.

During the quarter, Preferred Bank generated $132.7 million in total revenue. After accounting for interest expenses, net revenue reached $78.1 million, which also outperformed analysts’ expectations.

For the full year, the company achieved a profit of $133.6 million, translating to $10.41 per share, with annual revenue totaling $290.3 million.

Report produced by Automated Insights using data from Zacks Investment Research.