Edition:
United States

Preferred Bank (PFBC.OQ)

PFBC.OQ on NASDAQ Stock Exchange Global Select Market

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Summary

Name Age Since Current Position

Li Yu

77 2012 Chairman of the Board, Chief Executive Officer

Wellington Chen

58 2012 President, Chief Operating Officer

Clark Hsu

47 2017 Independent Vice Chairman of the Board

Edward Czajka

52 2017 Chief Financial Officer, Executive Vice President, IR Contact Officer

Robert Kosof

2010 Executive Vice President and Head - Commercial and Industrial Loans and Regional Branch Manager

Nick Pi

57 2015 Executive Vice President, Chief Credit Officer

J. Richard Belliston

73 2003 Independent Director

William Cheng

70 1995 Independent Director

Gary Nunnelly

69 1991 Independent Director

Chih-Wei Wu

58 2012 Independent Director

Wayne Wu

55 2013 Independent Director

Biographies

Name Description

Li Yu

Mr. Li Yu is a Chairman of the Board, Chief Executive Officer of Preferred Bank. Mr. Yu has been and Chief Executive Officer since 1993, and was our President from 1993 to 2012. From December 1991 to the present, he has served as Chairman of our Board of Directors. From 1987 to 1991, he was the owner of several privately held companies. From 1982 to 1987, he served as Chairman of the Board of California Pacific National Bank, which became a part of Bank of America. Mr. Yu received his MBA from the University of California, Los Angeles. He was also the past President of the National Association of Chinese American Bankers, and is formerly a member of the Board of Visitors of UCLA’s Anderson Graduate School of Management. Under his leadership, we have grown from a de novo bank with $20 million in initial capital in 1991 to one of the largest independent commercial banks in California with $3.4 billion in total assets. Mr. Yu brings to the Board of Directors extensive management experience, demonstrated leadership, prudent judgment, a strong connection to our client base, and a deep understanding of our history and the banking business. Mr. Yu serves on the Loan Committee and Investment Committee.

Wellington Chen

Mr. Wellington Chen is a President, Chief Operating Officer of Preferred Bank. Mr. Chen was promoted to President in 2012 and has been Chief Operating Officer since June of 2011. Prior to that, Mr. Chen served over seven years as Executive Vice President and Director of Corporate Banking for East West Bank where he oversaw a significant portion of the loan and deposit production activities of the bank. Prior to joining East West Bank in December 2003, Mr. Chen was Senior Executive Vice President of Far East National Bank (“Far East”), heading up their Commercial Banking Group, Consumer Banking Group, and Branch Channel. Mr. Chen also served on the Board of Directors of Far East. Mr. Chen’s career with Far East began in 1986 and included a variety of branch and credit management positions. Prior to that, Mr. Chen spent three years with Security Pacific National Bank where he completed the management training program and served as an asset based lending auditor. Mr. Chen serves on the Board of Directors of the Pasadena Tournament of Roses Foundation.

Clark Hsu

Mr. Clark Hsu is an Independent Vice Chairman of the Board of Preferred Bank. Mr. Hsu serves as our Vice Chairman of the Board of Directors. He is the Chairman and CEO of Lotus Creek Investments, Inc. which provides venture and growth capital to companies in the technology sector. Prior to Lotus Creek Investments, Mr. Hsu was President of Microtek Lab, Inc., which specializes in the design, manufacture and distribution of digital imaging products for consumer and commercial applications. Mr. Hsu currently serves on the Board of Directors for Microtek International, Inc., a publicly traded company in Taiwan and the parent company of Microtek Lab, Inc. Mr. Hsu received a Bachelor’s degree from the University of Pennsylvania in 1992 and an MBA from the UCLA Anderson School of Business in 1997. In May of 2011, Mr. Hsu was appointed Vice Chairman of the Bank. Mr. Hsu brings to the Board of Directors strong leadership skills gained from serving as the President of complex business enterprises and his extensive board experience. His experience with numerous small and growing businesses as a venture capital executive brings to the Board a unique perspective on a significant portion of our client base. His familiarity with matters related to cross-border transactions is also an asset to the Board given our trade-related business lending. Mr. Hsu serves as the chairman of the governance and nominating committee and Chairman of the Compensation Committee and serves on the Loan Committee.

Edward Czajka

Mr. Edward J. Czajka is a Chief Financial Officer, Executive Vice President, Senior Vice President of Preferred Bank . Before joining Preferred Bank, Mr. Czajka was Chief Financial Officer of Presidio Bank, a San Francisco-based bank that was then in organization. Prior to this, Mr. Czajka was Executive Vice President and Chief Financial Officer of North Valley Bancorp, a publicly-traded multi-bank holding company located in Redding, California. From 1994 through 2000, Mr. Czajka held the position of Vice President, Corporate Controller for Pacific Capital Bancorp in Santa Barbara, California. Mr. Czajka received his Bachelors of Science degree in Business Administration from Capella University and is a graduate of the Bank Administration Institute Graduate School of Banking at Vanderbilt University. Mr. Czajka serves as the past Board Treasurer for the Los Angeles Chapter of the Risk Management Association (“RMA”) and also currently serves on the Board of Directors of Shane’s Inspiration, a non-profit based in Sherman Oaks, California.

Robert Kosof

Mr. Robert J. Kosof is a Executive Vice President and Head - Commercial and Industrial Loans and Regional Branch Manager of Preferred Bank . Prior to that, he served as our Executive Vice President and Chief Credit Officer. He has been with us since 2008. Before joining us, he was Executive Vice President and Chief Credit Officer of RP Realty Partners Entrepreneurial Fund from 2006 to 2008. Prior to that, he was Senior Vice President and Chief Lending Officer for Bank Leumi USA from 1987 to 2006. His responsibilities included credit approval and credit quality for the California branches of the bank. From 1985 to 1987 he was Executive Vice President and Director for Olympic National Bank. From 1974 to 1985 he was Senior Vice President and head of Loan Administration which included Loan Adjustments for Imperial Bank.

Nick Pi

Mr. Nick Pi is a Executive Vice President, Chief Credit Officer of Preferred Bank. Before joining us, Mr. Pi was the Senior Vice President and Commercial Real Estate Lending Team Leader of Chinatrust Bank (U.S.A.) from 2000 to 2003. Prior to this, he held various corporate titles from Assistant Vice President to Senior Vice President at Chinatrust Bank (U.S.A.), mainly in the branch operation and lending fields from 1995 to 2000. His lending and credit experience also includes Grand Pacific Financing Corporation from 1989 to 1995, an affiliate of China Trust Group. Mr. Pi received a Bachelor of Arts degree in Business from National Taiwan University, Taiwan and a MBA degree from Emporia State University.

J. Richard Belliston

Mr. J. Richard Belliston is an Independent Director of Preferred Bank. Mr. Belliston retired from MoneyLine Lending Services in 2007 where he had served as Vice Chairman and Chief Financial Officer since 2001. Previously he served as Chief Financial Officer and then Vice Chairman of Tokai Bank of California for 25 years. Currently, Mr. Belliston also serves as a director of Northwood Investments, Inc., a closely-held nonpublic corporation which produces recreational vehicles. Mr. Belliston is a Certified Public Accountant (inactive) and a member of the American Institute of Certified Public Accountants and California Society of CPA’s. He received a Bachelor’s of Science degree from Brigham Young University. Mr. Belliston’s past positions as Chief Financial Officer, his background as a Certified Public Accountant and other activities in accounting-related business associations, and his extensive experience in the financial services industry qualify him to serve as the chairman of our Audit Committee and as one of our Audit Committee financial experts. Mr. Belliston also serves on our Compensation Committee and Investment Committee.

William Cheng

Mr. William C.Y. Cheng is an Independent Director of Preferred Bank. Mr. Cheng has been President of H&C Industries, Inc. since 1974. H&C Industries is engaged in the export, import and distribution of chemical products. Mr. Cheng received an MBA from the University of Southern California and a Master’s degree in engineering systems from UCLA. Mr. Cheng brings to the Board of Directors long and extensive experience managing a complex enterprise. His familiarity with import-export transactions is an asset to the Board of Directors because a portion of our business is related to trade finance and his deep knowledge of international trading business and finance qualifies him to serve on our Loan Committee. Mr. Cheng chairs the Investment Committee and also serves as a member of Loan Committee, Compensation Committee and the Nominating and Corporate Governance Committee.

Gary Nunnelly

Mr. Gary S. Nunnelly is an Independent Director of Preferred Bank. Mr. Nunnelly has been President of American Thermoform Corporation, a company engaged in the import and manufacture of equipment and supplies for the visually impaired since 1985. He spent several years at Union Bank during the early stage of his career. Mr. Nunnelly was one of our founding directors. Mr. Nunnelly received a Bachelor’s of Science degree in accounting from the University of Southern California. Like Mr. Yu, Mr. Nunnelly has a long history with us as one of our founders and has contributed to our long term growth. He brings to the Board of Directors leadership gained through his executive experience and brings knowledge of the banking industry through his years at Union Bank. He also brings to the Board of Directors expertise in the area of accounting and serves on the Audit Committee. In addition to the Audit Committee, Mr. Nunnelly serves on the Nominating and Corporate Governance Committee, the Investment Committee, and the Loan Committee, as chairman.

Chih-Wei Wu

Mr. Chih-Wei Wu is an Independent Director of Preferred Bank. Mr. Wu has more than 27 years of experience in the banking industry. He was the Chief Executive Officer of Credit Suisse (Taiwan) from September 2008 to November 2012, when he decided to retire. From 2007 to 2008, he was Executive Chairman of Standard Chartered Bank, Taiwan. From 1996 to 2007, he served as President and Chief Executive Officer of Hsinchu International Bank, then a publicly traded bank in Taiwan with more than 15 Billion USD in assets. Mr. Wu received a MBA Degree from California State University, Chico, and a Bachelor’s Degree from Soochow University in Taiwan. Mr. Wu was one of Preferred Bank's founding shareholders. Mr. Wu brings to the board in-depth experience in the banking industry and knowledge of the Bank as an institution. Further, he brings high level executive and leadership experience. Mr. Wu serves on the Nominating and Corporate Governance Committee and the Investment Committee.

Wayne Wu

Mr. Wayne Wu is an Independent Director of Preferred Bank. Mr. Wu has been actively involved in life sciences investment since 1998. He formed Pacific Health Investment Inc. in May 2005 as a follow on investment fund after Pacific Republic Capital. Both Pacific Health Investment and Pacific Republic Capital invested heavily in the medical device industry. Throughout the years, Mr. Wu has served on the Board of a number of companies. Mr. Wu was the Chairman of Accuray Incorporated (Nasdaq: ARAY) from 2004 to 2010. Mr. Wu also served on the Board of Aurora Imaging Technology Inc. from 1999 to 2004. Currently Mr. Wu serves on the Board of four U.S. medical device companies, such as Verve Medical Inc., Dallen Medical Inc., and WaveSense Inc. Mr. Wu graduated from National Central University in Taiwan with a Bachelor of Science degree in Mathematics. He received his Master’s degree in Mathematics from University of Southern California. Mr. Wu’s extensive experience in investing, his Board-level experience at numerous companies as well as his considerable contacts in the Bank’s primary market areas makes him a wellqualified candidate to serve on the Board. Mr. Wu serves on the Investment Committee and the Compensation Committee.

Basic Compensation

Name Fiscal Year Total

Li Yu

4,864,450

Wellington Chen

1,205,720

Clark Hsu

107,228

Edward Czajka

709,900

Robert Kosof

499,626

Nick Pi

593,725

J. Richard Belliston

111,228

William Cheng

102,228

Gary Nunnelly

107,728

Chih-Wei Wu

87,728

Wayne Wu

96,228
As Of  30 Dec 2017

Options Compensation

Name Options Value

Li Yu

0 0

Wellington Chen

7,500 413,925

Clark Hsu

0 0

Edward Czajka

11,000 551,100

Robert Kosof

6,000 312,240

Nick Pi

4,000 223,240

J. Richard Belliston

0 0

William Cheng

0 0

Gary Nunnelly

0 0

Chih-Wei Wu

0 0

Wayne Wu

0 0