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May 20, 2026 8:10 AM

Preferred Bank Announces Recovery Settlement

LOS ANGELES, May 20, 2026 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ:PFBC), ("the Bank"), an independent commercial bank, announced today that it has entered into a settlement agreement on a commercial & industrial loan with the borrower. The agreement calls for the Bank to receive a total of $5.7 million over an eleven month period on a loan previously charged off. The charge-off of the loan was recorded in the second quarter of 2024.

About Preferred Bank

Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is chartered by the State ...