PFBC - Preferred Bank has no exposure to venture capital or cryptocurrency
2023-03-10 17:40:16 ET
- Preferred Bank ( NASDAQ: PFBC ) on Friday provided an update on its financial information in light of recent industry events, saying it has no exposure to venture capital or cryptocurrency.
- The company's total deposits grew to $5.62B as of March 9 from ~$5.56B 57 as of 2022-end.
- Cash and cash equivalents total over $900M and represent 13.9% of total assets.
- Total securities held to maturity totaled $22.2M. Total securities available for sale were $422.5M with the negative mark of $29.8M already captured in accumulated other comprehensive income.
- Preferred Bank ( PFBC ) said it has other sources of borrowing capacity, none of which are being used.
- Earlier, the bank posted Q4 earnings above estimates .
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Preferred Bank has no exposure to venture capital or cryptocurrency