Preferred Bank (PFBC) obtained regulatory approval to proceed with its shareholder-approved existing $150 million share repurchase program. Details of PFBC's Repurchase Plan Preferred Bank launched the $150 million program in June 2023 and received regulatory approval to initiate the first leg of the plan. Under this, the bank repurchased $72.5 million worth of shares at an average price of $62.02. The approval expired in July 2024. The currently obtained approval is for the remaining $77.5 million worth of ...