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Chairman's Message

April 16, 2019




I am very pleased to report that Preferred Bank closed out the year of 2018 with record earnings and the largest we’ve ever been in terms of total assets, loans, deposits and capital.


Total net income for 2018 was $70.9 million or $4.64 per diluted share compared to $43.4 million or $2.97 per diluted share for 2017. This represents an increase in net income of 63.6% and an increase in earnings per share of 56.8%. Total loans, deposits and assets grew at 13.5%, 11.6% and 11.9%, respectively.


2018 was an eventful year for our industry. Chief among them, the Federal Reserve Bank increased short-term interest rates four times during the year which elevated an already unprecedented competitive market for both loans and deposits.


Your Bank is among the most efficient banks (as measured by efficiency ratio) in the United States. Preferred Bank is also one of the most profitable banks among its peer groups when measuring return on assets (ROA) and return on equity (ROE).


At year-end, our financial statements showed total non-performing loans of $44.8 million. I am pleased to report, that amount has been reduced to $3.6 million at March 31, 2019 through the successful disposition of three of the nonperforming loans.


We believe Preferred Bank is well positioned under the prevailing economic environment for further growth and success in 2019 and beyond. We thank you once again for your continued support.


Very Truly Yours,



Li Yu

Chairman and CEO


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