Preferred Bank (PFBC) Board of Directors has received regulatory approval to implement its recently announced $125 million stock repurchase plan which was approved by shareholders in May. Preferred Bank is not a Securities & Exchange Commission registrant, therefore the Bank requires regulatory approval prior to repurchasing its own common stock. The Board of Directors has approved the first tranche of repurchases which will consist of $50 million in buybacks. The stock purchases will be made from time to time in the open market. In addition, the Board of Directors has declared a quarterly cash dividend to $0.75 per share, payable on July 22, 2025 to holders of record on July 8, 2025.
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