Preferred Bank (Preferred Bank) Credit Losses Provision : $8.5 Mil (As of Sep. 2023)

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What is Preferred Bank Credit Losses Provision?

Preferred Bank's credit losses provision for the three months ended in Sep. 2023 was $3.5 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Sep. 2023 was $8.5 Mil.

Preferred Bank's quarterly credit losses provision increased from Mar. 2023 ($0.5 Mil) to Jun. 2023 ($2.5 Mil) and increased from Jun. 2023 ($2.5 Mil) to Sep. 2023 ($3.5 Mil).

Preferred Bank's annual credit losses provision declined from Dec. 2020 ($26.0 Mil) to Dec. 2021 ($-1.0 Mil) but then increased from Dec. 2021 ($-1.0 Mil) to Dec. 2022 ($7.4 Mil).

Preferred Bank Credit Losses Provision Historical Data

The historical data trend for Preferred Bank's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Preferred Bank Credit Losses Provision Chart

Preferred Bank Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Credit Losses Provision

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10.13

3.45

26.00

-1.00

7.35

Preferred Bank Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Credit Losses Provision	Get a 7-Day Free Trial															2.70	2.00	0.50	2.50	3.50

Preferred Bank Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $8.5 Mil.

Preferred Bank (Preferred Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Preferred Bank (NAS:PFBC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

1IU:Germany

Address

601 South Figueroa Street, 48th Floor, Los Angeles, CA, USA, 90017

Website

https://www.preferredbank.com

Preferred Bank is a commercial bank located in California. Its products and services are divided into Personal Banking, Business Banking, and Commercial Banking which includes Checking accounts, Savings accounts, CDs, Loans and Credit, Electronic banking and Treasury Management. It provides personalized deposit services, real estate finance, commercial loans, and trade finance credit facilities to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high-net-worth individuals. The bank generates a majority of its revenue from Southern and Northern California and Flushing.