Preferred Bank (PFBC) Company Report

Analyst Coverage

Research analysts who have asked questions during Preferred Bank earnings calls.

Andrew Terrell

Stephens Inc.

6 questions for PFBC

Also covers: AVBH, BANC, BANR +18 more

Gary Tenner

D.A. Davidson & Co.

6 questions for PFBC

Also covers: ABCB, AVBH, AX +20 more

Matthew Clark

Piper Sandler

6 questions for PFBC

Also covers: AVBH, BANC, BANR +24 more

David Feaster

Raymond James

3 questions for PFBC

Also covers: ABCB, ALRS, AX +20 more

Arif Inayatullah

Cygnus Capital

2 questions for PFBC

Liam Coohill

Raymond James

2 questions for PFBC

Also covers: CVBF, FFWM, FHB +2 more

Tim Coffey

Janney Montgomery Scott

2 questions for PFBC

Also covers: BMRC, CVBF, GBFH +2 more

Timothy Coffey

Janney Montgomery Scott LLC

2 questions for PFBC

Also covers: AVBH, BANC, BANR +11 more

Latest news

Recent press releases and 8-K filings for PFBC.

First Pacific Bancorp Reports Strong Fourth Quarter and Full-Year 2025 Results

PFBC

Earnings

Debt Issuance

Revenue Acceleration/Inflection

First Pacific Bancorp reported net income of $558 thousand for the fourth quarter of 2025, an increase from $500 thousand in Q4 2024. For the full year 2025, net income was $2.01 million, up from $1.11 million in 2024.
The company achieved significant balance sheet growth, with total assets reaching $490 million, total deposits $406 million, and total loans $320 million by the end of Q4 2025, all showing increases from year-end 2024.
Capital ratios strengthened, with a leverage capital ratio of 9.53% and a total risk-based capital ratio of 13.39% at December 31, 2025, supported by a $3.3 million contribution from a new $7 million senior debt financing.
Asset quality remained excellent with minimal non-performing assets and zero loan losses during 2025.

4 days ago

Press Release

Preferred Bank Reports Strong Q4 and Full-Year 2025 Earnings Amidst Rising Criticized Assets

PFBC

Earnings

Guidance Update

Preferred Bank reported net income of $34.8 million and diluted earnings per share of $2.79 for Q4 2025, contributing to full-year 2025 net income of $434 million and EPS of $10.41.
The bank achieved loan growth of $182 million (over 12%) and deposit growth of $115 million (7.4%) in Q4 2025, with full-year growth rates of 7.3% for loans and 7.2% for deposits.
The net interest margin (NIM) for December 2025 was 3.66%, and the cost of deposits for the month was 3.17%, with management expecting deposit costs to decrease by approximately 5-6 basis points per month going forward.
Criticized assets increased by $97 million in Q4 2025, primarily due to a $123 million nine-loan relationship being placed into classified status, although management noted the loans are well-secured with an LTV around 65% and aims for resolution within two quarters.
For Q1 2026, non-interest expenses are projected to be between $21.5 million and $22.5 million, and the bank is budgeting for higher loan growth in 2026 compared to the previous year.

Jan 22, 2026, 7:00 PM

Transcript

PFBC Announces Q4 and Full-Year 2025 Financial Results

PFBC

Earnings

Guidance Update

Preferred Bank reported Q4 2025 net income of $34.8 million or $2.79 per share, with full-year 2025 net income at $434 million or $10.41 per share.
The bank achieved Q4 2025 loan growth of $182 million (over 12%) and deposit growth of $115 million (7.4%), with year-to-date loan and deposit growth at 7.3% and 7.2%, respectively.
Net interest margin declined in Q4 2025 due to federal rate cuts, with the December margin at 3.66% and the cost of deposits at 3.17%.
Criticized assets increased by $97 million in Q4 2025, primarily due to a $123 million nine-loan relationship being classified, leading to a $4.3 million loan loss provision for the quarter. Management anticipates stronger loan demand in 2026, budgeting for higher loan growth, and forecasts Q1 2026 non-interest expenses to be between $21.5 million and $22.5 million.

Jan 22, 2026, 7:00 PM

Transcript

Preferred Bank Reports Strong Q4 and Full-Year 2025 Results Amidst Margin Pressures and Asset Quality Concerns

PFBC

Earnings

Guidance Update

Share Buyback

Preferred Bank reported net income of $34.8 million, or $2.79 per share, for the fourth quarter ended December 31, 2025, and $434 million, or $10.41 per share, for the full year 2025.
The net interest margin for Q4 2025 declined from the third quarter due to federal rate cuts, with the December margin at 3.66% and the total cost of deposits at 3.17% for December. Approximately $1.3 billion in CDs are maturing in Q1 2026 at a weighted average rate of 3.96%, with new CDs coming on at around 3.70-3.80%.
The bank experienced strong growth in Q4 2025, with total loan growth of $182 million (over 12%) and deposit growth of $115 million (7.4%). Full-year loan and deposit growth were 7.3% and 7.2%, respectively.
Criticized assets increased by $97 million in Q4 2025, primarily due to a $121 million nine-loan relationship being classified, though management believes these loans are fundamentally well-underwritten and expects resolution within two quarters.
Management is budgeting for higher loan growth in 2026 and forecasts Q1 2026 non-interest expenses to be between $21.5 million and $22.5 million. Share repurchases are less likely in 2026 due to a focus on loan growth.

Jan 22, 2026, 7:00 PM

Transcript

Preferred Bank Reports Fourth Quarter and Full Year 2025 Results

PFBC

Earnings

Guidance Update

Preferred Bank reported net income of $34.8 million, or $2.79 per diluted share, for the fourth quarter of 2025, which represents a decrease of $1.1 million from the prior quarter but an increase of $4.6 million over the same quarter last year. For the full year 2025, net income was $133.6 million, or $10.41 per share.
The bank's net interest margin for Q4 2025 contracted to 3.74% from 3.92% in the prior quarter, primarily due to Federal Reserve interest rate cuts.
Total loans increased by $182.3 million (3.1%) and total deposits increased by $115.8 million (1.9%) linked quarter. For the full year, loan growth was $413.6 million and deposit growth was $428.6 million.
Noninterest income for Q4 2025 was $8.1 million, significantly higher than $3.7 million in Q3 2025, mainly driven by a $3.6 million gain on the sale of OREOs.
Criticized assets increased by $97.5 million during Q4 2025, reaching $248.5 million at year-end, due to a large relationship being placed into classified status.

Jan 22, 2026, 1:00 PM

Press Release

Preferred Bank Announces Annual Dividend Increase

PFBC

Dividends

Preferred Bank's Board of Directors has increased the annual cash dividend by 6.7%, raising it from $3.00 per share to $3.20 per share.
The dividend is scheduled for payment on January 20, 2026, to shareholders of record as of January 6, 2026.
Preferred Bank is described as one of the larger independent commercial banks headquartered in California.

Dec 11, 2025, 9:01 PM

Press Release

First Pacific Bancorp Reports Strong Q3 2025 Results

PFBC

Earnings

First Pacific Bancorp reported a net income of $607 thousand for the third quarter of 2025, an increase from $249 thousand in Q3 2024, and a pre-tax, pre-provision profit of $853 thousand for the same quarter. For the nine months ended September 30, 2025, net income was $1.45 million and pre-tax, pre-provision profit was $2.04 million.
As of September 30, 2025, total assets reached $486 million, total deposits were $390 million, and total loans stood at $320 million, all reflecting increases since year-end 2024.
The company maintains a healthy capital position, with a leverage capital ratio of 8.74% and a total risk-based capital ratio of 12.16% as of September 30, 2025.
Asset quality is described as excellent, with minimal levels of classified or non-performing assets and an allowance for credit losses of 0.98% of total loans.

Oct 30, 2025, 1:00 PM

Press Release

Preferred Bank Reports Record Q3 2025 Earnings and Strong Loan Growth

PFBC

Earnings

Share Buyback

Guidance Update

Preferred Bank reported record earnings per share of $2.84 and net income of $35.9 million for the third quarter of 2025.
The company achieved loan growth of 2.3% ($133 million) and deposit growth of 2.5% ($151 million) in Q3 2025, with expectations for continued reasonable loan growth.
Credit quality improved significantly, with nonperforming loans reducing from $52 million to $17 million, and a foreclosed loan sold in October is expected to generate a $3 million to $4 million gain in Q4.
PFBC repurchased $6.3 million of its own shares in Q3 2025 and an additional 128,000 shares for $11.2 million in October. The September net interest margin was 3.87%, and $1.27 billion of CDs maturing in Q4 at an average rate of 4.1% are expected to reprice lower.

Oct 21, 2025, 6:00 PM

Transcript

Preferred Bank Reports Record Q3 2025 Earnings Per Share

PFBC

Earnings

Share Buyback

Guidance Update

Preferred Bank reported record earnings per share of $2.84 and net income of $35.9 million for the third quarter ended September 30, 2025.
Credit quality improved, with non-performing loans reducing from $52 million to $17 million. A $37 million foreclosed loan moved to OREO was sold in October, with an expected gain of $3 to $4 million in Q4.
The bank achieved loan growth of 2.3% ($133 million) and deposit growth of 2.5% ($151 million) in Q3 2025, alongside improved net interest income and net interest margin, resulting in an efficiency ratio of less than 30%.
Preferred Bank repurchased $6.3 million of its shares during Q3 2025 and an additional 128,000 shares for $11.2 million in October.
Management corrected a prior diluted earnings per share calculation, noting an underreporting of $0.05 for the first half of 2025.

Oct 21, 2025, 6:00 PM

Transcript

Preferred Bank Reports Record Third Quarter 2025 Results

PFBC

Earnings

Share Buyback

Revenue Acceleration/Inflection

Preferred Bank reported net income of $35.9 million and diluted earnings per share of $2.84 for the third quarter of 2025, representing a quarterly record for diluted EPS. This is an increase of $3.1 million in net income from the prior quarter.
Net interest income increased to $71.3 million in Q3 2025, a $4.4 million increase over the prior quarter, driven by loan growth and increased investment securities. The net interest margin expanded to 3.92% from 3.85% last quarter.
Total loans increased by $132.4 million (2.3%) and total deposits increased by $151.3 million (2.5%) on a linked-quarter basis.
Nonperforming loans significantly decreased from $52.3 million at June 30, 2025, to $17.6 million as of September 30, 2025.
During the third quarter of 2025, the Bank repurchased 70,842 shares for a total consideration of $6.3 million.