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News Breaks
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November 12, 2009
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| 13:42 EDT |  | PFBC |
| theflyonthewall.com: | Preferred Bank receives loan settlement | | Preferred Bank announced that on November 10, the Bank received $7,050,000 from another bank in the full settlement of a long outstanding lawsuit relating to a loan participation between the two banks. After deducting the remaining carrying value of the loan and related legal expenses, the Bank will record approximately $5M in recovery of loan balances that were previously charged-off. :theflyonthewall.com |
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