Preferred Bank Reports Fourth Quarter and Annual Results
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Preferred Bank reported a decrease in net income for Q4 2024 due to a one-time $8.1 million increase in occupancy expense related to an accounting error in lease calculations.
January 27, 2025 | 9:15 pm
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Preferred Bank's Q4 2024 net income decreased due to a one-time $8.1 million expense from an accounting error in lease calculations.
The decrease in net income is significant due to the one-time $8.1 million expense, which is a result of an accounting error. This impacts investor perception negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100