LOS ANGELES, Dec. 12 /PRNewswire-FirstCall/ -- Preferred Bank , an independent commercial bank focusing on the Chinese-American and diversified Southern California market, today announced that the Company's Board of Directors has appointed Mr. Frederick B. Denitz as Executive Vice President, effective immediately. In this capacity, Mr. Denitz will oversee Preferred Bank's commercial lending group, with an emphasis on serving diversified middle market business customers, and will be responsible for expanding Preferred Bank's commercial lending operations throughout the Southern California region. Prior to joining Preferred Bank, Mr. Denitz served as an Executive Vice President at Mellon 1st Business Bank, where he was also a member of the Bank's senior management committee.
About Preferred Bank
Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through ten other full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica and Valencia, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Preferred Bank continues to benefit from the significant migration to Southern California of ethnic Chinese from China and other areas of East Asia. While its business is not solely dependent on the Chinese-American market, it represents an important element of the bank's operating strategy, especially for its branch network and deposit products and services. Preferred Bank believes it is well positioned to compete effectively with the smaller Chinese-American community banks, the larger commercial banks and other major banks operating in Southern California by offering a high degree of personal service and responsiveness, experienced multi-lingual staff and substantial lending limit.
AT THE COMPANY: AT FINANCIAL RELATIONS BOARD:
Edward J. Czajka Lasse Glassen
Chief Financial Officer General Information
(213) 891-1188 (213) 486-6546
