Preferred Bank Announces Opening Of San Francisco Branch

LOS ANGELES, Feb. 26, 2013 (GLOBE NEWSWIRE) -- Preferred Bank (Nasdaq:PFBC), an independent commercial bank focusing on the Chinese-American and diversified Southern California mainstream market, today announced that the Bank's San Francisco Branch opened for business on February 6, 2013. The new branch office is located at 600 California Street, Suite 550 in the financial district of San Francisco. The branch is now fully staffed and managed by Alice Huang, Executive Vice President and Regional Manager. From 1987 until 2011, Ms. Huang was Regional Manager for a local Chinese-American bank in the Bay Area. Ms. Huang received her Bachelor's degree from the University of Phoenix and her MBA from St. Mary's College. Ms. Huang is very well known in the business community and to real estate professionals in the Bay Area. She brings over 30 years of banking experience and deep connections with both the Chinese and mainstream communities. To commemorate the opening, on March 21, 2013 at 3:00pm, the Bank will hold an invitation-only Grand Opening event with a ribbon-cutting ceremony.

About Preferred Bank

Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The 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. The Company conducts its banking business from its main office in Los Angeles, California, and through ten full-service branch banking offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Anaheim, Pico Rivera and San Francisco, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The 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. Preferred Bank continues to benefit from the significant migration to Southern California of ethnic Chinese from China and other areas of East Asia. While its business is not solely dependent on the Chinese-American market, it represents an important element of the bank's operating strategy, especially for its branch network and deposit products and services. Preferred Bank believes it is well positioned to compete effectively with the smaller Chinese-American community banks, the larger commercial banks and other major banks operating in Southern California by offering a high degree of personal service and responsiveness, experienced multi-lingual staff and substantial lending limits.

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