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About Preferred Bank
Preferred Bank was established on December 23, 1991 as a California State chartered bank, insured by the Federal Deposit Insurance Corporation. The initial offering closed December 11, 1991, and was oversubscribed at $20,180,000. We believe that Preferred Bank's initial capitalization was the largest formation of a State chartered bank in California history.
Preferred Bank is a full service commercial bank with its head office located at 601 South Figueroa Street in downtown Los Angeles. The head office is a full service banking office occupying the 29th floor. This facility houses Preferred Bank's Executive, Finance, Operations and Credit Administration offices, as well as our Commercial, International Loans and Trade Finance and Real Estate Lending groups.
Preferred Bank is one of the most highly regarded banks in California. It has consistently earned the highest ratings from expert financial rating agencies such as Bauer Financial, Sheshunoff, Veribanc, Inc., and The Findley Reports.
Preferred Bank specializes in several specific market niches:
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Middle Market Business
consisting of manufacturing, service and distribution companies with sales of $3 million to $50 million annually and with borrowing requirements of up to $7 million dollars. Preferred Bank provides a complete range of lending services to this market, including working capital loans, equipment financing and commercial real estate loans. Additionally, we provide a full range of depository products including safety deposit boxes, account reconciliation, courier service, and a full array of cash management services.
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International Market Business
consisting of importers and exporters requiring both borrowing and operational products. We offer a full range of financing vehicles including trade financing, acceptance financing, and other specialized lending programs. We pride ourselves on the efficiency of our operational staff who provide a complete group of services such as commercial and standby letters of credit, documentary collections, collections of foreign drafts, international wires and foreign exchange.
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Professionals
consisting of physicians, accountants, attorneys, and professionals associated with the entertainment industry. We understand the unique nature of managing a professional practice and being involved in a creative industry such as the entertainment field. Our staff provides specialized personal services including courier service, several types of depository accounts and personal and business loans as well as lines of credit.
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Real Estate Financing
for residential, commercial, industrial, and other income producing properties in Los Angeles County and neighboring counties. The bank maintains a group of specialists to provide construction and mini-perm loans.
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International Private Banking
incorporates a group of highly trained professionals handling international private banking needs in the Pacific Rim area. Our multi-lingual staff is knowledgable in the business environment and financial affairs of Pacific Rim countries. This provides us with tremendous leverage when assisting in banking matters both locally and internationally on behalf of our Private Banking clientele.
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Consumer Products
include ATM and credit card services.
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Depository Services
including checking accounts, money market accounts and certificate of deposits are available at competitive rates.
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Merchant Processing
is a full service program for processing merchant credit card transactions. We offer the Electronic Data Capture process which credits your account electronically, resulting in an accurate, expeditious and cost efficient process.
Quality customer service is our mandate.
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