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Preferred Bank was established on December 23, 1991 as a California State chartered bank, insured by the Federal Deposit Insurance Corporation. The initial offering closed December 11, 1991, and was oversubscribed at $20,180,000. Preferred Bank is a full service commercial bank with its head office located in downtown Los Angeles. The head office is a full service banking office occupying approximately 15,600 square feet. This facility houses Preferred Bank’s executive, finance, operations and credit administration offices, as well as its commercial, international loans and trade finance and real estate lending groups.