LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Friday reported first-quarter profit of $30 million.
The Los Angeles-based bank said it had earnings of $2.23 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.33 per share.
The independent commercial bank posted revenue of $118.5 million in the period. Its revenue net of interest expense was $66.7 million, also missing 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