Preferred Bank down after executive VP resigns
Preferred Bank (Nasdaq: PFBC) shares are down after the Los Angeles-based bank announced that its executive vice president and chief credit officer, Walter Duchanin, tendered his resignation to pursue other interests. Duchanin will remain in his position until mid-November.
The company said it will immediately search for Duchanin’s replacement, both within the company and externally.
Preferred Bank plans to release third-quarter earnings after the closing and will hold a conference call to discuss results at 5 p.m.
In afternoon trading, PFBC shares are down 4.81%, or $1.84, at $36.41. Over the last 52 weeks, shares have ranged from $34.50 to $44.84.
