Preferred Bank's Q3 profit rises driven by increased net interest income

Overview * Preferred Bank Q3 net income rises to $35.9 mln, driven by increased net interest income * Company's Q3 EPS reaches $2.84, marking a quarterly record * Preferred Bank repurchased 70,842 shares for $6.3 mln in Q3 Outlook * Company expects large pre-tax gain from OREO asset sale in Q4 results Result Drivers * NET INTEREST INCOME – Increase driven by $5 mln decrease in interest expense and growth in loans and investment securities * ASSET QUALITY IMPROVEMENT – Significant reduction in nonperforming loans due to foreclosure and sale of OREO asset * LOANS AND DEPOSITS GROWTH – Total loans increased by $132.4 mln and deposits by $151.3 mln, linked quarter Key Details Metric Beat/Mis Actual Consensu s s Estimate Q3 EPS $2.84 Q3 Net $35.93 Income mln Q3 Net $71.31 Interest mln Income Q3