Company Story
1993 - Preferred Bank was founded by Li Yu, a Chinese immigrant, with a vision to serve the Chinese-American community in Los Angeles.
1994 - Preferred Bank opened its first branch in Los Angeles' Chinatown, marking the beginning of its expansion.
1997 - Preferred Bank became a publicly traded company, listed on the NASDAQ stock exchange under the ticker symbol PFBC.
2000 - Preferred Bank expanded its operations to the San Francisco Bay Area, opening a branch in San Francisco's Chinatown.
2004 - Preferred Bank acquired United Pacific Bank, further expanding its presence in California.
2007 - Preferred Bank opened its first branch in New York City, marking its entry into the East Coast market.
2010 - Preferred Bank acquired the banking operations of Atlantic Bank of New York, expanding its presence in the New York metropolitan area.
2014 - Preferred Bank opened its first branch in Houston, Texas, marking its entry into the Texas market.
2017 - Preferred Bank acquired the banking operations of Bharata Bank, expanding its presence in the Los Angeles area.
2020 - Preferred Bank celebrated its 25th anniversary, marking a quarter century of serving the community.
