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Preferred Bank Announces New Chief Risk Officer

1. Nick Pi appointed Chief Risk Officer of Preferred Bank. 2. Pi has extensive experience, previously serving as Chief Credit Officer. 3. The new role emphasizes enhanced risk oversight for the bank. 4. The bank continues to support a diversified customer base. 5. Preferred Bank operates multiple branches in California and New York.

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FAQ

Why Bullish?

Appointing a seasoned executive can enhance risk governance, possibly strengthening investor confidence, similar to past positive market reactions to such hires.

How important is it?

Leadership changes at financial institutions often lead to revaluation by investors, which could reflect positively on PFBC’s market performance.

Why Short Term?

The announcement is likely to impact the stock price soon as markets react to leadership changes, akin to prior leadership shifts at banks boosting stock performance.

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CMAPACWFRC
May 09, 2025 16:31 ET  | Source: Preferred Bank LOS ANGELES, May 09, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has named Nick Pi to the position of Executive Vice President and Chief Risk Officer. Mr. Pi has served as the Bank’s Chief Credit Officer since 2015 and will continue to oversee the credit function. Mr. Pi will now also oversee the BSA and Compliance Departments as well. Li Yu, Chairman and CEO of the Bank said “Nick has been a very strong leader in Credit Administration and we’re excited to have someone with his experience and knowledge taking over the role of Chief Risk Officer. We feel this is an important step in developing our enterprise risk oversight. Please join me in congratulating Nick”. 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 the California cities of Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2 branches), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2 branches) and two branches in New York (Flushing and Manhattan) and one branch in the Houston suburb of Sugar Land, Texas. Additionally, the Bank 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. CzajkaJeffrey HaasExecutive Vice PresidentGeneral InformationChief Financial Officer(310) 622-8240(213) 891-1188PFBC@finprofiles.com

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