Preferred Bank Appoints Nick Pi Acting Chief Credit Officer

LOS ANGELES, June 17, 2015 (GLOBE NEWSWIRE) -- Preferred Bank (Nasdaq:PFBC), an independent commercial bank focusing on the diversified California market, today announced that effective immediately, Nick Pi has been appointed Executive Vice President and Acting Chief Credit Officer. Mr. Pi has served Preferred Bank as Executive Vice President and Group Manager since 2003. Prior to that, he was Senior Vice President of Chinatrust Bank USA (Now CTBC) from 2000 to 2003, and earlier, he held various lending and operations positions for Chinatrust. Mr. Pi received his Bachelor of Arts degree in Business from National Taiwan University and his MBA from Emporia State University.

Chairman and CEO Li Yu commented, "Nick is well qualified to take on this very important role. He has been a great asset to the team for over a decade and we are excited about the opportunity for him in this interim position. As previously announced, we have commenced an internal and external search for a permanent candidate."

About Preferred Bank

Preferred Bank is one of the larger independent commercial banks in California. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through eleven full-service branch banking offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Anaheim, Pico Rivera, Tarzana and San Francisco, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia.

The Preferred Bank logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11817

CONTACT: AT THE COMPANY: Edward J. Czajka Executive Vice President Chief Financial Officer (213) 891-1188 AT FINANCIAL PROFILES: Kristen Papke General Information (310) 663-8007 kpapke@finprofiles.com

Source:Preferred Bank