Preferred Bank Mortgage Rates, Fees & Info
Los Angeles, CALEI: 5493007K6HGI9G0ECX16
Tax ID: 95-4340199
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Mortgage Data
Bank Data
Review & Overview
Preferred Bank is a smaller bank specializing in Home Purchase and Refi loans. Preferred Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, New York, San Francisco, Urban Honolulu, and San Diego among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Preferred Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
102Origination Dollar Volume (All Markets)
$181,270,000Employee count
263Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 72 | $138,270,000 | $1,920,417 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 8 | $14,290,000 | $1,786,250 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 10 | $13,410,000 | $1,341,000 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $8,005,000 | $8,005,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $2,180,000 | $1,090,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,880,000 | $470,000 | $0 | 0.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $0 | 0.00% |
| NAPA, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 102 | $181,270,000 | $1,777,157 | $0 | 0.00% |
For 2018, Preferred Bank's most frequently originated type of loan was Conventional, with 102 originations.
Loan Reason
For 2018, Preferred Bank's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 102 | $181,270,000 | $1,777,157 | $0 | 0.00% |
For 2018, Preferred Bank's most frequently cited loan duration was Other, with 102 originations.
Loan Sizing
2018 saw Preferred Bank place emphasis on $1MM+ loans with 44 originations, totaling $151,660,000 in origination value.
Applicant Income
Preferred Bank lent most frequently to those with incomes in the $250k+ range, with 31 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 102 | $181,270,000 | $1,777,157 | $0 | 0.00% |
Preferred Bank lent most frequently to those with DTI ratios of Exempt%, with 102 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.88%
Preferred Bank has a below average approval rate.
Pick Rate
Approvals leading to origination78.43%
Preferred Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 102 | $181,270,000 | $1,777,157 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 18 | $67,000,000 | $3,722,222 |
| Single Family (1-4 Units):Site-Built | 84 | $114,270,000 | $1,360,357 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Preferred Bank | 1373 South Diamond Bar Boulevard Diamond Bar, CA 91765 | Full Service B&M | $137,699 |
| Preferred Bank | 1469 South Baldwin Avenue Arcadia, CA 91007 | Full Service B&M | $171,297 |
| Preferred Bank | 17515-A Colima Road City Of Industry, CA 91748 | Full Service B&M | $407,104 |
| Preferred Bank | 1801 Century Park East Century City, CA 90067 | Full Service B&M | $183,051 |
| Preferred Bank | 18321 Ventura Blvd, Suite 100 Tarzana, CA 91356 | Full Service B&M | $66,631 |
| Preferred Bank | 21615 Hawthorne Boulevard, Suite 100 Torrance, CA 90503 | Full Service B&M | $286,792 |
| Preferred Bank | 325 East Valley Boulevard Alhambra, CA 91801 | Full Service B&M | $595,402 |
| Preferred Bank | 41-60 Main Street Flushing, NY 11355 | Full Service B&M | $321,676 |
| Preferred Bank | 5160 Geary Boulevard San Francisco, CA 94118 | Full Service B&M | $62,610 |
| Preferred Bank | 600 California St. Suite 550 San Francisco, CA 94108 | Full Service B&M | $161,359 |
| Preferred Bank | 601 South Figueroa Street Los Angeles, CA 90017 | Full Service B&M | $894,005 |
| Preferred Bank | 7004 Rosemead Blvd Pico Rivera, CA 90660 | Full Service B&M | $31,995 |
| Preferred Bank | 890 Roosevelt Avenue Irvine, CA 92620 | Full Service B&M | $90,744 |
For 2018, Preferred Bank had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $195,165 |
| Net interest income | $154,229 |
| Total noninterest income | $9,288 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $694 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,594 |
| Pre-tax net operating income | $98,645 |
| Securities gains (or losses, -) | $53 |
| Income before extraordinary items | $70,993 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $70,993 |
| Minority interest net income | $0 |
| Net income | $70,993 |
| Sale, conversion, retirement of capital stock, net | $9,602 |
| Net operating income | $70,951 |
Preferred Bank's gross interest income from loans was $195,165,000.
Preferred Bank's net interest income from loans was $154,229,000.
Preferred Bank's fee based income from loans was $694,000.
Preferred Bank's net income from loans was $70,993,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $40,936 |
| Provision for credit losses | $10,130 |
| Total noninterest expense | $54,742 |
| Salaries and employee benefits | $34,999 |
| Premises and equipment expense | $6,057 |
| Additional noninterest expense | $13,686 |
| Applicable income taxes | $27,705 |
| Net charge-offs | $8,986 |
| Cash dividends | $15,625 |
Preferred Bank's interest expense for loans was $40,936,000.
Preferred Bank's payroll and benefits expense were $34,999,000.
Preferred Bank's property, plant and equipment expenses $6,057,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 11.0% |
| HELOC loans | 0.0% |
| All other family | 11.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $3,639,917 |
| Deposits held in domestic offices | $3,639,917 |
| Deposits by Individuals, partnerships, and corporations | $3,429,518 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $39,458 |
| Deposits by Commercial banks and other depository institutions in U.S. | $170,941 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $218,672 |
| Demand deposits | $189,683 |
| Nontransaction accounts | $3,421,245 |
| Money market deposit accounts (MMDAs) | $952,637 |
| Other savings deposits (excluding MMDAs) | $976,033 |
| Total time deposits | $1,492,574 |
| Total time and savings deposits | $3,450,234 |
| Noninterest-bearing deposits | $730,155 |
| Interest-bearing deposits | $2,909,762 |
| Retail deposits | $2,680,722 |
| IRAs and Keogh plan accounts | $8,080 |
| Brokered deposits | $220,568 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $4,217,941 |
| Cash & Balances due from depository institutions | $527,603 |
| Interest-bearing balances | $520,110 |
| Total securities | $190,419 |
| Federal funds sold & reverse repurchase | $26,000 |
| Net loans and leases | $3,349,989 |
| Loan and leases loss allowance | $31,065 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,342 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $919 |
| All other assets | $115,669 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $4,217,941 |
| Total Liabilities | $3,801,290 |
| Total deposits | $3,639,917 |
| Interest-bearing deposits | $2,909,762 |
| Deposits held in domestic offices | $3,639,917 |
| % insured (estimated) | $27 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,307 |
| Subordinated debt | $100,419 |
| All other liabilities | $59,647 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $3,349,989 |
| Loan and leases loss allowance | $31,065 |
| Total loans and leases (domestic) | $3,381,054 |
| All real estate loans | $2,300,859 |
| Real estate loans in domestic offices | $2,300,859 |
| Construction and development loans | $355,804 |
| Residential 1-4 family construction | $138,229 |
| Other construction, all land development and other land | $217,575 |
| Loans secured by nonfarm nonresidential properties | $1,356,446 |
| Nonfarm nonresidential secured by owner-occupied properties | $266,124 |
| Commercial real estate & other non-farm, non-residential | $1,090,322 |
| Multifamily residential real estate | $200,357 |
| 1-4 family residential loans | $388,252 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $997,649 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $0 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $0 |
| All other loans & leases | $82,546 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $32,546 |
| Loans to depository institutions and acceptances of other banks | $50,000 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Preferred Bank had $3,349,989,000 of loans outstanding in 2018. $2,300,859,000 of loans were in real estate loans. $355,804,000 of loans were in development loans. $200,357,000 of loans were in multifamily mortgage loans. $388,252,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 133 | $58,959 | $443,301 |
| Nonfarm, nonresidential loans - <$100k | 4 | $208 | $52,000 |
| Nonfarm, nonresidential loans - $100-250k | 19 | $3,590 | $188,947 |
| Nonfarm, nonresidential loans - $250k-1MM | 110 | $55,161 | $501,464 |
| Commercial & Industrial, US addressed loans - <$1MM | 447 | $114,389 | $255,904 |
| Commercial & Industrial, US addressed loans - <$100k | 119 | $5,242 | $44,050 |
| Commercial & Industrial, US addressed loans - $100-250k | 121 | $17,429 | $144,041 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 207 | $91,718 | $443,082 |