LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Wednesday reported second-quarter earnings of $33.5 million.
The bank, based in Los Angeles, said it had earnings of $2.78 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The independent commercial bank posted revenue of $125.9 million in the period. Its revenue net of interest expense was $73.5 million, missing Street forecasts. Three analysts surveyed by Zacks expected $73.7 million.
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