LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Tuesday reported first-quarter earnings of $38.1 million.
The bank, based in Los Angeles, said it had earnings of $2.61 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
The independent commercial bank posted revenue of $108 million in the period. Its revenue net of interest expense was $72.6 million, missing Street forecasts.
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