Preferred Bank Files Definitive Proxy Statement Seeking Approval for One-For-Five Reverse Stock Split (PFBC)

Preferred Bank PFBC, an independent commercial bank focusing on the Chinese-American and diversified Southern California mainstream market, today reported that it had filed its Definitive Proxy Statement with the Federal Deposit Insurance Corporation for the annual meeting of shareholders to be held on May 24, 2011 at 1:00 pm. Among the proposals on which shareholders will vote is Preferred Bank's proposal to effect a one-for-five reverse stock split of its common stock.  As stated in the Definitive Proxy Statement, Preferred Bank is proposing the reverse stock split with a view to increasing the share trading price of the common stock. Other reasons include: * Increase in eligible investors. A reverse stock split could allow for a broader range of institutional investors to own the stock, especially those who have minimum stock price requirements for investment. * Increased analyst and broker interest. A reverse stock split could have the effect of increasing analyst and broker interest in the stock as their policies often discourage them from recommending investing in companies with low stock prices.