Preferred Bank is a California state chartered bank operating in Southern California, United States.

Headquartered in Los Angeles

Los Ángeles

Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...

, with branch offices

Branch (banking)

A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....

 in Arcadia

Arcadia, California

Arcadia is an affluent city in Los Angeles County, California, United States, and located approximately northeast of downtown Los Angeles in the San Gabriel Valley and at the base of the San Gabriel Mountains....

, Alhambra

Alhambra, California

Alhambra is a city located in the western San Gabriel Valley region of Los Angeles County, California, United States, which is approximately eight miles from the Downtown Los Angeles civic center. As of the 2010 census, the population was 83,089, down from 85,804 at the 2000 census. The city's...

, Century City, Los Angeles, California

Century City, Los Angeles, California

Century City is a 176-acre commercial and residential district on the Westside of the city of Los Angeles. It is bounded by Westwood on the west, Rancho Park on the southwest, Cheviot Hills and Beverlywood on the southeast, and the city of Beverly Hills on the northeast...

, Diamond Bar, California

Diamond Bar, California

Diamond Bar is a city in eastern Los Angeles County, California, United States. The population was 55,544 at the 2010 census, down from 56,287 at the 2000 census. It is named after the "diamond over a bar" branding iron registered in 1918 by ranch owner Frederick E...

, City of Industry, California, Anaheim

Anaheim, California

Anaheim is a city in Orange County, California. As of the 2010 United States Census, the city population was about 365,463, making it the most populated city in Orange County, the 10th most-populated city in California, and ranked 54th in the United States...

, Pico Rivera, California

Pico Rivera, California

Pico Rivera is a city located in southeastern Los Angeles County, California, United States. The city is situated approximately 11 miles southeast of downtown Los Angeles, on the eastern edge of the Los Angeles basin, and on the southern edge of the area known as the San Gabriel Valley...

, Irvine

Irvine, California

Irvine is a suburban incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the city has a population of 212,375 as of the 2010 census. However, the California...

 and Torrance, California

Torrance, California

Torrance is a city incorporated in 1921 and located in the South Bay region of Los Angeles County, California, United States. Torrance has of shore-front beaches on the Pacific Ocean, quieter and less well-known by tourists than others on the Santa Monica Bay, such as those of neighboring...

, this publicly held community bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

 was first established on December 23, 1991.

The initial offering closed December 11, 1991, and was oversubscribed at $20,180,000, and the bank is listed on NASDAQ

NASDAQ

The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...

 (PFBC). As a California state chartered bank, insured by the Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

, it has consistently earned the highest ratings from financial rating agencies such as Bauer Financial, Sheshunoff, Veribanc, Inc., and The Findley Reports.

In addition to ordinary banking services, Preferred Bank also specializes in several areas to serve its predominantly Chinese American

Chinese American

Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...

 clientele to help it survive in the competition, and these include:

• International Market Business: consisting of importers and exporters requiring both borrowing and operational products
• International Private Banking: handling international private banking needs in the Pacific Rim
  Pacific Rim
  The Pacific Rim refers to places around the edge of the Pacific Ocean. The term "Pacific Basin" includes the Pacific Rim and islands in the Pacific Ocean...
  
  area
• Middle Market Business: consisting of manufacturing, service and distribution companies with sales of $3 million to $50 million annually and with borrowing requirements of up to $7 million dollars.
• Professionals: consisting of physicians, accountants, attorneys, and professionals associated with the entertainment industry