Preferred Bank Q2 net income rises to $32.8 mln on higher interest income

Overview

• Preferred Bank Q2 net income rises to $32.8 mln, up from prior qtr

• Net interest margin improves to 3.85% from 3.75% last qtr

• Total loans increased by $105.2 mln or 1.9% quarter-over-quarter

Outlook

• Preferred Bank notes clearer operating environment due to reduced tariff uncertainty

• Company plans for future growth amid improved market conditions

Result Drivers

• NET INTEREST INCOME - Increase driven by reversal of interest income from non-accrual loans

• LOAN GROWTH - Total loans increased by $105.2 mln, contributing to higher net interest income

• NONINTEREST EXPENSE - Rise due to $1.3 mln write-down of Santa Barbara OREO property

Key Details

Press Release: ID:nGNX9wfb7R