Preferred Bank: Q1 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Tuesday reported first-quarter earnings of $33.5 million.

The bank, based in Los Angeles, said it had earnings of $2.44 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.

The independent commercial bank posted revenue of $129.6 million in the period. Its revenue net of interest expense was $71.6 million, also surpassing Street forecasts.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFBC at https://www.zacks.com/ap/PFBC