Preferred Bank Reports Third Quarter Results
Preferred Bank (PFBC)
Last preferred bank earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations:
1firstbank.com/pr/en/help-center/investor-relations
Company Research
Source: GlobeNewswire
LOS ANGELES, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended September 30, 2024. Preferred Bank (“the Bank”) reported net income of $33.4 million or $2.46 per diluted share for the third quarter of 2024. This represents a slight decrease in net income of $209,000 from the prior quarter and down by $4.8 million from the same quarter last year. The decrease in net income from the prior year was due to a decrease in net interest income of $4.1 million due to higher deposit costs as well as an increase in noninterest expense of $3.1 million. These were partially offset by lower provision for credit losses and an increase in noninterest income. The decrease from the prior quarter was due to an increase in noninterest expense of $2.4 million, an increase in the provision for credit losses of $700,000 partially offset by an increase in net interest income of $2.7 million. Preferred
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PFBC
News
- Preferred Bank (NASDAQ: PFBC) had its price target raised by analysts at Stephens from $90.00 to $94.00. They now have an "overweight" rating on the stock.MarketBeat
- Preferred Bank (PFBC) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Preferred Bank (PFBC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates [Yahoo! Finance]Yahoo! Finance
- Preferred Bank GAAP EPS of $2.46, revenue of $72.31M [Seeking Alpha]Seeking Alpha
- Preferred Bank's (NASDAQ:PFBC) 13% CAGR outpaced the company's earnings growth over the same five-year period [Yahoo! Finance]Yahoo! Finance
PFBC
Earnings
- 10/21/24 - Beat
PFBC
Analyst Actions
- 10/22/24 - Stephens & Co.
PFBC
Sec Filings
- 11/14/24 - Form SC
- 10/31/24 - Form SC
- PFBC's page on the SEC website