Preferred Bank (PFBC), Thursday announced financial results for the fourth quarter, reporting net income of $34.8 million, up $4.6 million from the previous year.
On a per share basis, net income increased to $2.79 from last year's $2.25, primarily due to an occupancy charge of $8.1 million recorded during the period.
On average, analysts estimated net income of $2.79 per share for the quarter.
Revenue for the period amounted to $78.1 million compared to $72.8 million in the prior year.
In the pre-market hours, PFBC is trading at $101.13, up 2.00 percent on the Nasdaq.
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