Preferred Bank Announces Approval of Stock Repurchase and Cash Dividend

LOS ANGELES, June 23, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ:PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has received regulatory approval to implement its recently announced $125 million stock repurchase plan which was approved by shareholders in May. Preferred Bank is not a Securities & Exchange Commission ("SEC") registrant, therefore the Bank requires regulatory approval prior to repurchasing its own common stock. The Board of Directors has approved the first tranche of repurchases which will consist of $50 million in buybacks. The stock purchases will be made from time to time in the open market. In addition, the Board of Directors has declared a quarterly cash dividend to $0.75 per share, payable on July 22, 2025 to holders of ...