Preferred Bank Reports Strong Q2 Earnings with Improved Credit Quality
Preferred Bank (NASDAQ:PFBC) reported second-quarter net income of $33.5 million or $2.78 per share, exceeding expectations and internal budgets due to reduced provision expenses from declining troubled assets. Nonperforming loans dropped by $70 million while criticized loans fell by $90 million.
Tickers: $PFBC
Topics: banking credit_quality deposit_growth loan_growth provision_expense