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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

601 South Figueroa Street

29th Floor

Los Angeles, CA 90017

United States

Phone: 213-891-1188

Fax: 213-622-0369

Preferred Bank operates as an independent commercial bank in California focusing on the Chinese-American market. The company provides personalized deposit services and real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. Market The company conducts banking business from its main office in downtown Los Angeles, California and 12 full-service branch banking offices in Los Angeles, Orange, and San Bernardino Counties. It markets its services and conducts its business primarily in Los Angeles, Orange, Ventura, Riverside and San Bernardino counties. Lending Activities The company originates various types of loans, most of which fall into the following four categories: real estate mini-perm loans; real estate construction loans; commercial loans; and trade finance. In addition to these loan types, the company makes a small amount of consumer loans principally as an accommodation to its business customers. It also utilizes its relationships within the banking industry to purchase and sell participations in loans that meet its underwriting criteria. Real Estate Mini-Perm Loans: Real estate mini-perm loans secured by retail, industrial, office and residential multi-family properties. Real Estate Construction: The company is also a construction lender with construction loans. Commercial Loans: The company offers various commercial loan products, including lines of credit for working capital, term loans for capital expenditures and commercial and stand-by letters of credit. Trade Finance Credits: The company’s trade finance portfolio includes loans made to U.S. based importers who are also its borrowers or depositors. It also provides standby letters of credit and foreign exchange services to its clients. It offers various services to importers, including - commercial letters of credit; import lines of credit; documentary collections; international wire transfers; and acceptances/trust receipt financing. It offers the various services to exporters, including - export letters of credit; export finance; documentary collections; bills purchase program; and international wire transfers. Deposit Products The company provides a range of deposit products. It offers regular checking, savings, NOW and money market deposit accounts; fixed-rate, fixed maturity retail certificates of deposit ranging in terms from 14 days to five years; and individual retirement accounts and non-retail certificates of deposit consisting of Jumbo CDs. It provides courier service to pick up non-cash deposits, and for those customers that use major amounts of cash, it arranges for armored car and vault service. Investment Portfolio The company’s investment securities consist primarily of U.S. agency issues, investment grade corporate notes, municipal bonds and mortgage-backed securities. In addition, for liquidity purposes, it uses overnight federal funds, which are temporary overnight sales of excess funds to correspondent banks; and interest-bearing deposits at other financial institutions, which consist of certificates of deposit spread over various financial institutions. Customers The company provides a range of deposit and loan products and services to customers primarily within the following categories: Real Estate Finance: Consisting of investors and developers within the real estate industry and of owner-occupied properties in Southern California. It provides construction loans and mini-permanent (mini-perm) loans for residential, commercial, industrial and other income producing properties. Middle Market Business: Consisting of manufacturing, service and distribution companies. The company offers a range of lending products to customers in this market, including working capital loans, equipment financing and commercial real estate loans. Additionally, it provides a range of deposit products and related services, including safe deposit boxes, account reconciliation, courier service and cash management services. International Trade Finance: Consisting of importers and exporters based in the U.S. requiring both borrowing and operational products. The company offers a range of products to international trade finance customers, including commercial and standby letters of credit, acceptance financing, documentary collections, foreign draft collections, international wires and foreign exchange. Private Banking: Consisting of wealthy individuals residing in the Pacific Rim area with residences, real estate investments or businesses in Southern California. The company offers its banking products and services to this segment. Professionals: Consisting generally of physicians, accountants, attorneys, business managers and other professionals. The company provides specialized personal banking services to customers in this segment, including courier service, various types of specialized deposit accounts and personal and business loans, as well as lines of credit. The company provides an operating traditional Internet banking system with bill pay services for these customers. History Preferred Bank was founded in 1991.

 

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PFBC

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Valuation PFBC Industry Range
Price/Earnings 14.4x
Price/Sales 4.9x
Price/Book 1.4x
Price/Cash Flow 13.9x
TEV/Sales 0.9x
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