Preferred Bank in Los Angeles, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Preferred Bank in Los Angeles, California (CA)
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Preferred Bank - Overview

  • General
  • FDIC Certificate #: 33539
    Status: Active
    Federal Reserve ID: 1918344
    Date Established: December 23, 1991
    WWW: http://www.preferredbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    OTS Docket #: 15689
    FDIC's unique #: 47419
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 23, 1991
    Last Structure Change Effective Date: Febuary 27, 2009
    Last Structure Change Process Date: March 03, 2009
    Last Data Update: March 03, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 601 South Figueroa Street, Los Angeles, CA 90017
    County: Los Angeles
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Los Angeles (North)
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
    Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
    Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
    Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
    CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
    Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $1,309.8 mil
    Equity capital: $158.0 mil
    Deposits held in domestic offices: $1,118.0 mil
    Return on assets (ROA): 0.98% ($12.8 mil)
    Quarterly return on assets: 1.17% ($15.3 mil)
    Return on Equity (ROE): 8.23% ($13.0 mil)
    Quarterly return on equity: 9.64% ($15.2 mil)
    Net income: $12.2 mil
    Quarterly Net income: $3.8 mil
    Pretax return on assets: 0.57% ($7,465.9 mil)
    Quarterly Pretax return on assets: 0.74% ($9,692.5 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 130Total employees (full-time equivalent)
  • $1,309,800Total assets
  • $142,496Cash and due from depository institutions
  • $138,546Interest-bearing balances
  • $169,104Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $928,872Net loans & leases
  • $23,718Loan loss allowance
  • $0Trading account assets
  • $4,775Bank premises and fixed assets
  • $37,577Other real estate owned
  • $0Goodwill and other intangibles
  • $1,309,800Life insurance assets
  • $26,976All other assets
  • $1,151,752Total liabilities and capital
  • $1,117,999Total liabilities
  • $877,969Total deposits
  • $1,117,999Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $25,996Trading liabilities
  • $0Other borrowed funds
  • $7,757Subordinated debt
  • $158,048All other liabilities
  • $158,048Total equity capital
  • $158,048Total bank equity capital
  • $0Perpetual preferred stock
  • $177,215Common stock
  • $9,125Surplus
  • $-28,292Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $3,996Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $47,454Income earned, not collected on loans
  • $0Earning assets
  • $3,557Long-term assets (5+ years)
  • $1,236,522Average Assets, year-to-date
  • $118,267Average Assets, quarterly
  • $1,250,045Volatile liabilities
  • $1,285,337Insider loans
  • $1,108,254FHLB advances
  • $1,285,479Loans and leases held for sale
  • $7,808Unused loan commitments
  • $7,808Tier 1 (core) risk-based capital
  • $160,834Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $205,039Restructured Loans and leases
  • $5,958Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $53,793Total interest income
  • $10,304Total interest expense
  • $43,489Net interest income
  • $5,700Provision for loan and lease losses
  • -$6,324Total noninterest income
  • $0Fiduciary activities
  • $1,415Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$7,739Additional noninterest income
  • $24,401Total noninterest expense
  • $11,298Salaries and employee benefits
  • $3,819Premises and equipment expense
  • $9,284Additional noninterest expense
  • $7,064Pre-tax net operating income
  • $121Securities gains (losses)
  • -$5,049Applicable income taxes
  • $12,234Income before extraordinary items
  • $0Extraordinary gains - net
  • $12,234Net income attributable to bank
  • $0Net charge-offs
  • $12,234Cash dividends
  • $14,880Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.59%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 3.71%Net interest margin
  • -0.54%Noninterest income to earning assets
  • 2.08%Noninterest expense to earning assets
  • 0.97%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 0.57%Pretax return on assets
  • 8.23%Return on equity (ROE)
  • 8.23%Retained earnings to average equity (YTD only)
  • 1.63%Net charge-offs to loans
  • 38.31%Credit loss provision to net charge-offs
  • 0.86%Efficiency ratio
  • 65,653Assets per employee
  • 10.08%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.49%Loss allowance to noncurrent loans
  • 49.98%Noncurrent assets plus other real estate owned to assets
  • 6.59%Noncurrent loans to loans
  • 4.98%Net loans and leases to deposits
  • 83.08%Net loans and leases to core deposits
  • 103.83%Equity capital to assets
  • 12.07%Core capital (leverage) ratio
  • 12.51%Tier 1 risk-based capital ratio
  • 14.51%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $1,250,045Average earning assets
  • $148,683Average equity
  • $1,172,100Average loans

List of branches

  • 10 California Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    047419Preferred Bank601 South Figueroa Street, Los Angeles, CA 90017December 23, 1991Full Service Brick and Mortar
    1289726Alhambra Branch325 East Valley Boulevard, Alhambra, CA 91801December 23, 1991Full Service Brick and Mortar
    2289727Torrance Branch21615 Hawthorne Boulevard, Suite 100, Torrance, CA 90503October 28, 1994Full Service Brick and Mortar
    3289728Century City Branch1801 Century Park East, Century City, CA 90067Febuary 12, 1996Full Service Brick and Mortar
    5289729Arcadia Branch1469 South Baldwin Avenue, Arcadia, CA 91007April 19, 1999Full Service Brick and Mortar
    6358464Irvine Branch890 Roosevelt Avenue, Irvine, CA 92620April 07, 2000Full Service Brick and Mortar
    7365848Diamond Bar Branch1373 South Diamond Bar Boulevard, Diamond Bar, CA 91765December 17, 2002Full Service Brick and Mortar
    11438890City Of Industry Office17515-A Colima Road, City Of Industry, CA 91748March 14, 2005Full Service Brick and Mortar
    14492911Pico Rivera Branch7004 Rosemead Blvd, Pico Rivera, CA 90660December 30, 2008Full Service Brick and Mortar
    15492912Anaheim Branch1045 North Tustin Ave., Anaheim, CA 92807December 22, 2008Full Service Brick and Mortar

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