Preferred Bank reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net interest income of $22,318,000 compared to $19,383,000 a year ago. Net interest income after provision for loan losses was $22,018,000 compared to $18,883,000 a year ago. Income before provision for income taxes was $13,044,000 compared to $11,513,000 a year ago. Net income was $7,526,000 compared to $6,868,000 a year ago. Diluted income per share available to common shareholders was $0.54 compared to $0.50 a year ago. Return on average assets was 1.27% compared to 1.37% a year ago. Return on beginning equity was 11.61% compared to 11.92% a year ago.

For the full year, the company reported net interest income of $83,846,000 compared to $70,987,000 a year ago. Net interest income after provision for loan losses was $82,046,000 compared to $67,637,000 a year ago. Income before provision for income taxes was $50,191,000 compared to $40,847,000 a year ago. Net income was $29,706,000 compared to $24,592,000 a year ago. Diluted income per share available to common shareholders was $2.13 compared to $1.78 a year ago. Return on average assets was 1.35% compared to 1.31% a year ago. Return on beginning equity was 12.64% compared to 11.88% a year ago.