LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Monday reported third-quarter net income of $33.4 million.
The bank, based in Los Angeles, said it had earnings of $2.46 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.
The independent commercial bank posted revenue of $132.9 million in the period. Its revenue net of interest expense was $72.3 million, also topping Street forecasts.
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