PFBC - Preferred Bank re-commences buyback plan for up to ~$32M in stock

Preferred Bank (NASDAQ:PFBC) has announced that it had received all the required approvals to continue its stock repurchase plan. In May of 2021, the Bank’s shareholders approved a $50M share repurchase plan. Under that Plan, the Bank repurchased ~$18M worth of common stock in the open market during 2021. In May of 2022, the Board elected to re-commence the repurchase plan which calls for the repurchase of up to ~$32M of common stock in the open market.

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Preferred Bank re-commences buyback plan for up to ~$32M in stock