Preferred Bank Confirms Management Appointments

Aug 09, 2011, 12:30 ET from Preferred Bank

LOS ANGELES, Aug. 9, 2011 /PRNewswire/ -- Preferred Bank (NASDAQ: PFBC) (the "Bank") today announced that Wellington Chen has been appointed Chief Operating Officer and Lucilio M. ("Louie") Couto has been appointed Chief Credit Officer effective immediately. Notice of non-disapproval for both of these appointments has just been received by the FDIC and the California Department of Financial Institutions.

About Preferred Bank

Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. Preferred Bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law.  Preferred Bank conducts its banking business from its main office in Los Angeles, California, and through nine full-service branch banking offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar,  Anaheim and Pico Rivera, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers.  Preferred Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals.  

AT THE COMPANY: Edward J. Czajka Executive Vice President Chief Financial Officer (213) 891-1188

SOURCE Preferred Bank