Preferred Bank

DataBank Establishes $725 Million Financing to Support the Next Phase of Expansion

Retrieved on: 
Tuesday, April 9, 2024
Bank of America, PUE, Data, Green bond, TD Securities, Nomura Securities, Goldman Sachs, JPMorgan Chase, Power usage effectiveness, CoBank, Acquisition, A.I, Carbon, Preferred Bank, Water, Citizens Bank, RBC Capital Markets, Cryptocurrency

DALLAS, April 9, 2024 /PRNewswire/ -- DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced today that it has established a new $725 million credit facility with which to finance its ongoing and future data center construction projects. 

Key Points: 
  • Flexible financing vehicle will allow company to accelerate construction projects to meet surging demand for data center capacity driven by A.I.
  • The new capital will fund ongoing expansion in existing markets including on its campuses in New York, Denver, Minneapolis, Salt Lake City, and Dallas.
  • The financing provides an attractively priced source of capital that is a long-term and scalable solution to meet accelerating demand for capacity within DataBank's footprint.
  • This also will represent DataBank's second green financing, following closely on the heels of the February 2024 Green Bond.

Preferred Bank Reports Quarterly and Annual Results

Retrieved on: 
Wednesday, January 24, 2024
NIM, FDIC, ETR, Tax, ICS, Letter, Federal Reserve, Sale, Pressure, Preferred Bank, FOMC, Weakness, Growth, Video game

LOS ANGELES, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended December 31, 2023.

Key Points: 
  • LOS ANGELES, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended December 31, 2023.
  • Preferred Bank (“the Bank”) reported net income of $35.8 million or $2.60 per diluted share for the fourth quarter of 2023.
  • “Loan and deposit growth for the year was below the historical standards of Preferred Bank but in-line with industry performance.
  • A conference call with simultaneous webcast to discuss Preferred Bank’s second quarter 2023 financial results will be held tomorrow, January 25, 2024 at 2:00 p.m. Eastern / 11:00 a.m. Pacific.

Preferred Bank Announces 2023 Fourth Quarter Earnings Release and Conference Call

Retrieved on: 
Monday, January 8, 2024
Preferred Bank, Internet

LOS ANGELES, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the fourth quarter ended December 31, 2023 after the close of market on Wednesday, January 24, 2024.

Key Points: 
  • LOS ANGELES, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the fourth quarter ended December 31, 2023 after the close of market on Wednesday, January 24, 2024.
  • On the following day, Thursday, January 25, 2024, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific).
  • Preferred Bank's Chairman and CEO Li Yu, President and Chief Operating Officer Wellington Chen, Chief Financial Officer Edward J. Czajka, Chief Credit 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.

Veritran Research Reveals Technology Implementation is Critical to Financial Institutions' Success

Retrieved on: 
Thursday, November 16, 2023
Research, Preferred Bank, Risk, Fraud, Churn, Payment, Digital, Digital strategy manager, Community, Growth, Confusion, Customer experience, Bank, Retail, Online shopping, Cryptocurrency

MIAMI, Nov. 16, 2023 /PRNewswire/ -- As the banking industry continues to undergo significant changes amid the rapid evolution of technology, Payments and Commerce Market Intelligence (PCMI) and Veritran's "Becoming the Preferred Bank" report finds that technology adoption is crucial to the long-term success of community banks and credit unions. The research shows that becoming the preferred financial institution for customers requires a commitment to innovation, customer-centricity, and continuous improvement.

Key Points: 
  • The research shows that becoming the preferred financial institution for customers requires a commitment to innovation, customer-centricity, and continuous improvement.
  • "Technology adoption is no longer just a nice to have, but essential in enabling community banks and credit unions to succeed in an increasingly crowded competitive landscape," said Greynier Fuentes, VP of Sales & Digital Strategies at Veritran.
  • "Taking a strategic approach to digital transformation can help drive customer loyalty, create the seamless user experience that consumers are demanding, and provide enhanced security – all of which are critical aspects to the long-term success of these institutions.
  • Veritran is proud to offer solutions that will help financial institutions navigate these changes, ensuring they can serve their local communities for years to come."

Preferred Bank Reports Quarterly Earnings

Retrieved on: 
Tuesday, October 17, 2023
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LOS ANGELES, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended September 30, 2023.

Key Points: 
  • LOS ANGELES, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended September 30, 2023.
  • Preferred Bank (“the Bank”) reported net income of $38.2 million or $2.71 per diluted share for the third quarter of 2023.
  • “Based upon public information, Preferred Bank is the most profitable independent Bank in California measured by return on equity metrics and we hope this trend will continue.
  • However, the market price of our stock does not reflect our ability to consistently deliver top-of-peer earnings over many years.

Preferred Bank Announces 2023 Third Quarter Earnings Release and Conference Call

Retrieved on: 
Friday, October 6, 2023
Internet, Preferred Bank, Cryptocurrency, Management

LOS ANGELES, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the third quarter ended September 30, 2023 after the close of market on Tuesday, October 17, 2023.

Key Points: 
  • LOS ANGELES, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the third quarter ended September 30, 2023 after the close of market on Tuesday, October 17, 2023.
  • On the following day, Wednesday, October 18, 2023, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific).
  • 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 877-344-7529 (domestic) or 412-317-0088 (international) through November 1, 2023; the passcode is 6410410.

Preferred Bank Announces 2023 Second Quarter Earnings Release and Conference Call

Retrieved on: 
Thursday, July 6, 2023
Internet, Preferred Bank, Rare-earth element, Management, Cryptocurrency

LOS ANGELES, July 06, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the second quarter ended June 30, 2023 after the close of market on Wednesday, July 19, 2023.

Key Points: 
  • LOS ANGELES, July 06, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the second quarter ended June 30, 2023 after the close of market on Wednesday, July 19, 2023.
  • On the following day, Thursday, July 20, 2023, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific).
  • 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 877-344-7529 (domestic) or 412-317-0088 (international) through August 3, 2023; the passcode is 4793135.

Preferred Bank Opens Houston Office

Retrieved on: 
Wednesday, May 31, 2023
Suite, LPO, Preferred Bank, Real estate

LOS ANGELES, May 31, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), one of the larger independent banks headquartered in California, is pleased to announce the opening of its newest branch office in the Houston suburb of Sugar Land, Texas.

Key Points: 
  • LOS ANGELES, May 31, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), one of the larger independent banks headquartered in California, is pleased to announce the opening of its newest branch office in the Houston suburb of Sugar Land, Texas.
  • This branch opening is the culmination of the efforts began back in 2021, when the Bank opened a loan production office (LPO).
  • With this addition, Preferred Bank brings its renowned banking services, highly personalized customer service, and commitment to excellence to the Houston community.
  • "We are thrilled to expand our footprint in the Houston metro region from a loan production office into a full service branch," said Li Yu, Preferred Bank’s Chairman and CEO.

Preferred Bank Reports Quarterly Earnings

Retrieved on: 
Tuesday, April 18, 2023
Tax, Insurance, Human, ASC, Letter, Face, Policy, Silicon Valley Bank, TCD, ETR, FDIC, Preferred Bank, Sale, Government, Grain, Financial instrument, SVB, Disposable household and per capita income, Annual report, SBA, SVN, Signature Bank, FOMC, FASB, Video game, Security (finance), Cryptocurrency, Bank

LOS ANGELES, April 18, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended March 31, 2023.

Key Points: 
  • LOS ANGELES, April 18, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended March 31, 2023.
  • Preferred Bank (“the Bank”) reported net income of $38.1 million or $2.61 per diluted share for the first quarter of 2023.
  • Net income was affected by the loss on sale of Signature Bank subordinated debt of $4.16 million.
  • We managers of publicly traded banks will continue to be confronted by “beat” or “miss” of our quarterly financial results.

Preferred Bank Announces 2023 First Quarter Earnings Release and Conference Call

Retrieved on: 
Tuesday, April 11, 2023
Internet, Preferred Bank, Cryptocurrency, Management

LOS ANGELES, April 11, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the first quarter ended March 31, 2023 after the close of market on Tuesday, April 18, 2023.

Key Points: 
  • LOS ANGELES, April 11, 2023 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the first quarter ended March 31, 2023 after the close of market on Tuesday, April 18, 2023.
  • On the following day, Wednesday, April 19, 2023, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific).
  • 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 877-344-7529 (domestic) or 412-317-0088 (international) through April 26, 2023; the passcode is 5434053.