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Preferred Bank provides various banking products and services to small and mid-sized businesses, entrepreneurs, real estate developers, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts. It also provides real estate mortgage loans that are secured by retail, industrial, office, special purpose, and residential single and multi-family properties; real estate construction loans; commercial loans, including lines of credit for working capital, term loans for capital expenditures, and commercial and stand-by letters of credit; and small business administration loans for business purposes, such as owner-occupied commercial real estate, business acquisitions, start-ups, franchise financing, working capital, improvements and renovations, inventory and equipment, and debt-refinancing. In addition, the company offers trade finance services, including commercial and export letters of credit, import lines of credit, documentary collections, international wire transfers, acceptances/trust receipt financing, export financing, and bills purchase programs. Further, it provides cash management services; and internet, mobile, and tablet banking services. The company was incorporated in 1991 and is headquartered in Los Angeles, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $283M | - | $134M | $167M | 16.9% | -0.2% | 2.3% |
| 2024 | $284M | - | $131M | $164M | 17.1% | -3.1% | -12.9% |
| 2023 | $293M | - | $150M | $173M | 21.6% | 15.2% | 16.4% |
| 2022 | $254M | - | $129M | $143M | 20.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 254.40 | 293.14 | 283.96 | 283.40 |
| Operating Revenue | - | 254.40 | 293.14 | 283.96 | 283.40 |
| Selling General And Administration | - | 49.42 | 52.05 | 54.90 | 57.53 |
| Interest Income | - | 294.38 | 477.99 | 509.10 | 486.46 |
| Interest Expense | - | 47.02 | 188.61 | 236.47 | 215.64 |
| Net Interest Income | - | 247.36 | 289.37 | 272.63 | 270.82 |
| Pretax Income | - | 179.20 | 209.85 | 184.03 | 189.55 |
| Tax Provision | - | 50.35 | 59.81 | 53.37 | 55.92 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.79 | -0.95 | -0.65 | -0.98 |
| Net Income Continuous Operations | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Net Income From Continuing And Discontinued Operation | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Net Income From Continuing Operation Net Minority Interest | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Net Income | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Net Income Common Stockholders | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Net Income Including Noncontrolling Interests | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Normalized Income | - | 130.87 | 152.43 | 132.25 | 135.98 |
| Diluted NI Availto Com Stockholders | - | 128.84 | 150.04 | 130.66 | 133.63 |
| Basic Average Shares | - | 14.58 | 14.10 | 13.35 | 12.59 |
| Diluted Average Shares | - | 14.81 | 14.26 | 13.55 | 12.84 |
| Reconciled Depreciation | - | 1.89 | 1.72 | 2.15 | 1.75 |
| Total Unusual Items | - | -2.82 | -3.34 | -2.23 | -3.33 |
| Total Unusual Items Excluding Goodwill | - | -2.82 | -3.34 | -2.23 | -3.33 |
| Gain On Sale Of Security | - | 0.30 | -5.05 | 0 | 0.13 |
| General And Administrative Expense | - | 48.61 | 51.31 | 53.65 | 56.43 |
| Other Gand A | 2.45 | - | - | - | - |
| Salaries And Wages | - | 48.61 | 51.31 | 53.65 | 56.43 |
| Selling And Marketing Expense | - | 0.81 | 0.74 | 1.25 | 1.10 |
| Otherunder Preferred Stock Dividend | 0.01 | 0 | - | - | - |
| Occupancy And Equipment | - | 7.62 | 7.64 | 17.20 | 10.83 |
| Professional Expense And Contract Services Expense | - | 4.89 | 5.27 | 6.71 | 6.74 |
| Other Non Interest Expense | - | 5.92 | 8.33 | 9.02 | 9.64 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Preferred Bankthis co. | PFBC | $1.1B | 8.51↓ discount | 1.44 | 16.9% | - |
| First Mid Bancshares, Inc. | FMBH | $1.2B | 12.94 | 1.24 | 9.6% | - |
| Strive Asset Management, LLC | ASST | $1.2B | - | 2.03 | -3.0% | - |
| Exzeo Group, Inc. | XZO | $1.1B | 13.79 | 4.49 | 32.6% | 7.44 |
| Heritage Financial Corporation | HFWA | $1.1B | 16.86 |
| - |
| - |
| - |
| - |
| 1.24 |
| 7.3% |
| - |
| United Fire Group, Inc. | UFCS | $1.1B | 9.51 | 1.19 | 12.6% | - |
| Univest Financial Corporation | UVSP | $1.1B | 12.37 | 1.19 | 9.6% | - |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 15.75 | 1.51 | 9.6% | - |
| Old Second Bancorp, Inc. | OSBC | $1.1B | 13.72 | 1.23 | 9.0% | - |
| Peer Median | - | 13.72 | 1.24 | 9.6% | 7.44 | |