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 headquarters located at 601 South Figueroa Street in Downtown Los Angeles. The Headquarters Office is a full service banking office occupying the 48th floor. This facility houses Preferred Bank's Executive, Finance, Operations and Credit Administration offices, as well as our Commercial, International Loan/Trade Finance and Real Estate Lending groups.
Preferred Bank specializes in several specific market niches:
- We serve Middle Market Businesses consisting of manufacturing, service and distribution companies with sales of $3 million to $50 million annually and with borrowing requirements of up to $120 million. Preferred Bank provides a complete range of lending services to this market, including working capital loans, equipment financing and commercial real estate loans.
- We provide Real Estate Financing for residential, commercial, industrial and other income-producing properties in the Los Angeles, Orange County, San Francisco, New York, and Greater Houston areas. The Bank maintains a group of specialists to provide construction and mini-perm loans.
- Our Professional Services Clientele consists of medical professionals, accountants, attorneys and entertainment industry experts. We understand the unique nature of managing a professional practice and being involved in a creative industry such as the entertainment field. We offer personalized products and services that cater to this unique cadre of experts.
- Our Treasury Management Services consist of the latest tools to manage your cash including positive pay, account reconciliation, remote deposit, courier services, merchant processing and ACH credit origination. This suite allows our customers to increase productivity and reduce expenses in today's competitive environment.
- Our 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 knowledgeable in the business environment and financial affairs of the Pacific Rim countries. This provides us with the leverage needed to assist our Private Banking clientele in any banking matter.
- We serve International Market Businesses 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 that provides a complete suite of services such as commercial and standby letters of credit, documentary collections, international wires and foreign exchange.
- Our Consumer and Business Products include checking, savings, money market and certificate of deposit accounts offered at competitive rates. Coupled with our extensive offering of eServices including Online Banking and Bill Pay, Debit and Credit Cards, and eStatements, Preferred Bank has all the right accounts for you.