PFBC - Preferred Bank: Your Optimism Should Depend On Q1-2021 - Loan Loss Provisions Update
- Loans in deferment have declined significantly from a peak of $610 million down to $28 million as of December 31, 2020.
- Net interest margin has started to improve after three years of downward trend from rising deposit rates and competitive interest rate environment.
- Net interest income was up nearly 14% year over year, but these gains were offset by an increase in the credit losses provision.
- Interest expense was cut in half in Q4-2020 compared with Q4-2019.
- Credit loss provisions were $26 million FY-2020 compared with $3.45 million in FY-2019.
For further details see:
Preferred Bank: Your Optimism Should Depend On Q1-2021 - Loan Loss Provisions Update