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Preferred Bank Announces Fire Relief Donations

1. Preferred Bank donates $250,000 for wildfire relief in Southern California. 2. Donation aims to assist communities affected by recent devastating wildfires. 3. Bank will match employee donations to wildfire relief organizations. 4. Support focused on four key organizations aiding disaster recovery.

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Why Bullish?

Such charitable initiatives enhance corporate reputation, potentially attracting more customers and investors.

How important is it?

The donation reflects corporate social responsibility, likely resonating positively with stakeholders.

Why Short Term?

Initial positive sentiment from donation may influence immediate stock interest but won't ensure long-term stability.

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FRCPACWBANC
January 30, 2025 18:29 ET  | Source: Preferred Bank LOS ANGELES, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (the “Bank”) one of the larger independent California banks, today reported that the Board of Directors had approved a significant donation to benefit fire relief efforts on the Los Angeles area. Li Yu, Chairman and CEO, commented, “The recent wildfires in Southern California have been devastating and one of the worst disasters in the history of Southern California. As a company headquartered in the heart of Los Angeles, the fires have been particularly impactful for many of our associates, clients and communities. To support recovery efforts, the Board and executive management have authorized a donation in the amount of $250,000 to be split among four organizations that provide resources and relief to those impacted. Those Organizations are: Tzu-Chi – USAPasadena Community FoundationAlliance for a Better CommunityLos Angeles Fire Department Foundation “In addition, the Bank is also going to match any contribution any employee has already made, or will make, to the wildfire relief efforts on top of the $250,000 donation. The amount the Bank matches will be awarded to the organization the employee donated to. We are pleased to be able to make this contribution and look forward to helping the impacted communities of Southern California rebuild.”   About Preferred Bank Preferred Bank is one of the larger independent commercial banks headquartered in California. 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 Bank conducts its banking business from its main office in Los Angeles, California, and through twelve full-service branch banking offices in California (Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2)), one branch in Flushing, New York and a branch office in the Houston, Texas suburb of Sugar Land. In addition, the Bank also operates a loan production office in Sunnyvale, 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. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia. AT THE COMPANY: AT FINANCIAL PROFILES:Edward J. Czajka Jeffrey HaasExecutive Vice President General InformationChief Financial Officer (310) 622-8240(213) 891-1188 PFBC@finprofiles.com

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