Preferred Bank reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported income before provision for income taxes of $4,499,000, net income of $3,374,000, net income available to common shareholders of $3,331,000 or $0.25 diluted per share on net interest income after provision for loan losses of $11,904,000, net interest income of $14,204,000 against income before provision for income taxes of $2,368,000, net income of $3,767,000, net income available to common shareholders of $3,767,000 or $0.29 diluted per share on net interest income after provision for loan losses of $8,919,000, net interest income of $11,319,000 for the same period a year ago. Return on average assets was 0.88% against 1.17% for the same period a year ago. Return on average equity was 6.87% against 8.97% for the same period a year ago. Total interest income was $16,010,000 against $13,757,000 reported last year.

For the year, the company reported income before provision for income taxes of $3,289,000, net income of $22,331,000, net income available to common shareholders of $22,029,000 or $1.66 diluted per share on net interest income after provision for loan losses of $33,959,000, net interest income of $53,759,000 against income before provision for income taxes of $7,185,000, net income of $12,234,000, net income available to common shareholders of $12,039,000 or $0.93 diluted per share on net interest income after provision for loan losses of $37,787,000, net interest income of $43,487,000 for the same period a year ago. Results for the fourth quarter and year ended December 31, 2012 are preliminary due to the ongoing effort to finalize the Bank's income tax position. Total interest income was $61,542,000 against $53,790,000 reported last year.

Total net charge-offs for the fourth quarter of 2012 were $3.3 million compared to net charge-offs of $1.4 million for the third quarter of 2012.