Preferred Bank reports total deposits $5.622B as of March 9, 2023

Preferred Bank said that, as of Marhc 9, 2023, total deposits have grown to $5.622B from $5.557B as of year end; Cash and cash equivalents total over $900M and represent 13.9% of total assets; Total securities held to maturity were just $22.2M; Total securities available for sale were $422.5M with the negative mark of $29.8M already captured in Accumulated Other Comprehensive Income; Preferred Bank has no exposure to venture capital or cryptocurrency; Asset quality remains strong and unchanged from year-end 2022; and that Preferred Bank has other, multiple sources of borrowing capacity, none of which are being utilized.