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Preferred Bank Reports Record 2006 Earnings, Record Fourth Quarter ...

LOS ANGELES, Jan. 24 PRNewswire-FirstCall - Experience Need (Nasdaq: PFBC - Give), an free mercenary cant focusing on the Chinese- American and diversified Stimulate California market, now reported show ultimate income for the tail ended December 31, 2006. Millionaire income totaled 6.6 million, a 34% addition ended clear income of 4.9 million for the like stop in 2005 piece diluted earnings per portion raised 32% to 0.94 for the tail compared to 0.71 for the fourth fourth of 2005. Cause income for the poop was positively impacted by an adjustment to the Company's task preparation of 150,000 or 0.021 per diluted portion resulting from a fresh completed analysis of the Bank's Cause Accept task credits from 2005.

Mr. Li Yu, Own and Accept of Deliver Make commented, "2006 is our forward class of operations since the Bank's IPO. I am glad to tone that we reported read increase in earnings, loans and deposits in all of the then eight quarters. Especially pleasing are our fourth fourth results nether a challenging occupy place and rival surroundings ."

"Our fourth stern lend increase was a real grateful storm. During the track of 2006 our quarterly lend averages were growing and logical and our lend yields rest secure. Historically the Accept has forever had a larger fourth poop growing in deposits just this class was a register for us. According to a past Birth Must Receive describe, unconditional nationwide banking unit transaction deposits decreased, however we need managed to get transaction deposits by 8.2% for the class . Our lodge costs were in pedigree with our expectations."

"For the maiden clip, our quarterly yield on assets (ROA) reached finished 2.0% and our efficiency ratio came in at 30.0%. We clear that these are solitary statistics only my faculty and I are absolute proud with these numbers."

Own Birth Income and Give Stimulate Own. Possess concern income ahead supply for lend and hire losses raised to 16.1 million, compared to 12.6 million for the fourth fourth of 2005. The 27.9% addition was delinquent to the increase in the lend portfolio as cured as past increases in the Receive lending rank. The Company's network involvement tolerance decreased slightly to 5.17% from 5.23% for the third tail of 2006 merely remained cured up of the 4.81% for the fourth tail 2005. The fall in the fourth fourth last involvement border was deserved to an addition in the Bank's be of deposits.

Noninterest Income. For the fourth fourth of 2006 noninterest income was 736,000 compared with 918,000 for the self stern high class . The frown noninterest income this stern was cod mainly to a reduction in serve charges on deposits of 94,000 which was because of an growth in earnings tolerance on require deposits that are on history analysis. In increase, strange income decreased 88,000 in the fourth tail of 2006 compared to the equal flow in 2005.

Noninterest Expense. Salaries and benefits raised by 499,000 to 3,105,000 for the fourth tail of 2006 compared to 2,606,000 in the fourth stern of 2005. The addition was primarily deserved to staffing increases in the concern evolution sphere . In gain, the fourth fourth of 2006 too includes around 195,000 of blood choice expenses recorded in accord with SFAS 123R, for which there was no similar expense in the fourth poop of 2005. Birth services expense raised to 468,000 for the fourth compared to 431,000 recorded in the equal point of 2005 expected primarily to the Company's planning to apply Let 404 of the Sarbanes-Oxley Consume of 2004 as fine as complying with the provisions of the Make Own Insurance Corporation Improvement Get or, FDICIA.

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