Milestone Timeline
December 23, 1991: Preferred Bank is officially established.
At the time of establishment, Preferred Bank was the largest formation of a state-chartered bank in California and was oversubscribed with an initial capitalization of $20,180,000.
August 1992: Alhambra Regional Office opens.
Preferred Bank starts its expansion in Southern California with the opening of its second office.
October 1994: Torrance Regional Office opens.
March 1995: Century City Regional Office opens.
March 1996: City of Industry Regional Office opens.
November 1998: Arcadia Office opens.
April 2000: Irvine Regional Office opens.
December 2002: Diamond Bar Office opens.
February 15, 2005: Preferred Bank goes public on Nasdaq.
Preferred Bank goes public with an IPO of $38 per share.
April 9, 2007: Preferred Bank rings closing bell at Nasdaq.
December 2008: Pico Rivera Office opens.
February 2013: San Francisco Regional Office opens.
This marks Preferred Bank’s first expansion into Northern California with the opening of an office in One Bush Plaza in the heart of San Francisco’s Financial District.
March 25, 2014: Nasdaq invites Preferred Bank to ring the closing bell.
February 2015: San Fernando Valley Regional Office opens.
November 2015: Preferred Bank expands into New York.
The bank acquires the single-branch United International Bank in Flushing, New York, marking the first expansion outside of California.
2016: Preferred Bank expands to El Monte.
The Bank acquires additional office space in El Monte to support its growth and back office needs.
November 2017: San Francisco Richmond Branch opens.
The Bank continues its expansion in Northern California by opening a branch in San Francisco’s Richmond District.
2019:
S&P Global ranks Preferred Bank as the #1 best-performing community bank with $3B to $10B in assets.
2020: Preferred Bank reaches $5 billion in total assets.
April 2021: Houston LPO opens.
Preferred Bank expands into Texas with the opening of a loan production office in Sugar Land.
September 2021:
Preferred Bank continues its New York expansion by opening the Manhattan Satellite Office.
December 23, 2021:
Preferred Bank celebrates its 30th annivers
2023:
Preferred Bank converts the Houston LPO into a full-service Houston Regional Office.
This year, Preferred Bank also becomes one of the most profitable banks in the United States.
2024: Irvine-Culver Branch opens.
Preferred Bank opens its second full-service branch in Orange County.
2024: Silicon Valley LPO opens.
Preferred Bank opens a Loan Production Office in Sunnyvale, California, for mini-perm and construction loans.
February 15, 2025: Nasdaq 20th Anniversary.
Preferred Bank celebrates 20 years of being publicly traded on Nasdaq with a New York team visit to the Nasdaq MarketSite.
April 2025: Manhattan Office opens.
Preferred Bank expands and moves its Manhattan team to a new office in 2 Pennsylvania Plaza.
May 2026: San Francisco Irving Office opens.
Preferred Bank closes the Richmond Branch and opens a new branch on Irving Street in San Francisco’s Sunset District.
July 2026: Silicon Valley Regional Office opens.
Preferred Bank expands its presence in Silicon Valley by opening a new full-service office in Cupertino.
December 23, 2026: 35th Anniversary.
Preferred Bank celebrates 35 years of growth, success, and serving the community.