LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Wednesday reported fourth-quarter net income of $35.8 million.

The Los Angeles-based bank said it had earnings of $2.60 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.

The independent commercial bank posted revenue of $127.1 million in the period. Its revenue net of interest expense was $71.5 million, falling short of Street forecasts.

For the year, the company reported profit of $150 million, or $10.52 per share. Revenue was reported as $296.5 million.

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