Preferred Bank

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Deposit Rates - May 25, 2022

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.40% $10,000 Compare
MM RATES APY MIN
Money Market
0.10% $10,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 33539
Date Established 1991
Assets $ 6.05 billion
Loans $ 4.38 billion
Deposits $ 5.23 billion
Capital $ 586.72 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 1,031.15 million
Interest-bearing balances $ 1,019.36 million
Total securities $ 465.87 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 4.38 billion
Loan loss allowance $ 59.97 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.65 million
All other assets $ 137.16 million
     Total Assets $ 5.46 billion

LIABILITIES
Total deposits $ 5.23 billion
      Interest-bearing deposits $ 3.92 billion
      Deposits held in domestic offices $ 5.23 billion
      % insured (estimated) 21.37%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt $ 147.76 million
All other liabilities $ 83.51 millionn
      Total Liabilities $ 5.46 billion
      Shareholders’ Equity $ 586.72 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 211.04 million
Total Interest Expense $ 25.16 million
Net interest income $ 185.88 million
Provision for loan and lease losses N.A.
Total non interest income $ 7.70 million
Total non interest expense $ 60.79 million
Pre-tax Net Operating Income $ 133.79 million

Preferred Bank is an FDIC insured institution headquartered at 601 South Figueroa Street, Los Angeles, CA 90017.
It was founded in 1991 and has approximately $6 billion in assets. Customers can open an account at one of its 13 branches.

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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    CALIFORNIA
    $50,000
    6 Month
    0.40%
    1.49x (National Avg. - 0.27%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.40%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 200 140
    2 50,200 201 141
    3 50,401 202 141
    4 50,602 202 142
    5 50,805 203 142
    6 51,008 204 143
    7 51,212 205 143
    8 51,417 206 144
    9 51,623 206 145
    10 51,829 207 145
    11 52,036 208 146
    12 52,245 209 146
    13 52,454 210 147
    14 52,663 211 147
    15 52,874 211 148
    16 53,085 212 149
    17 53,298 213 149
    18 53,511 214 150
    19 53,725 215 150
    20 53,940 216 151
    TOTAL $4,156 $2,909
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.22x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317