Preferred Bank reports Q3 EPS $2.71, consensus $2.56

Reports Q3 book value per share $48.75. Reports Q3 CET1 capital ratio 11.63%. Li Yu, chairman and CEO, commented, “We are pleased to report another quarter of record profit. Earnings per diluted share for the third quarter was $2.71. For the quarter, loans practically stayed even and deposits grew modestly, which is the reflection of the cautiousness of both the Bank and its clients under the current environment. The margin decreased moderately from 4.58% in Q2 to 4.39% for Q3, largely because interest cost increases have slowed down.”