LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Monday reported fourth-quarter net income of $30.2 million.
The bank, based in Los Angeles, said it had earnings of $2.25 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.
The independent commercial bank posted revenue of $129.5 million in the period. Its revenue net of interest expense was $72.8 million, surpassing Street forecasts.
For the year, the company reported profit of $130.7 million, or $9.64 per share. Revenue was reported as $286.2 million.
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