Loan & DebtMay 20, 2026, 08:01 AM
Preferred Bank to Recover $5.7M from Charged-Off Loan Settlement
AI Summary
Preferred Bank announced a settlement agreement on a commercial & industrial loan that was previously charged off in the second quarter of 2024. The agreement stipulates that the bank will receive a total of $5.7 million over an eleven-month period. This recovery positively impacts the bank's financial position.
Key Highlights
- Preferred Bank entered a settlement agreement for a commercial & industrial loan.
- The bank will receive a total of $5.7 million from the settlement.
- Payments are scheduled to be made over an eleven-month period.
- The loan was previously charged off in the second quarter of 2024.
Price Impact
More from PFBC