LOS ANGELES (AP) — Preferred Bank (PFBC) reported a net income of $32.9 million for the third quarter on Friday. This equates to earnings of $2.73 per share, surpassing Wall Street expectations. Analysts polled by Zacks Investment Research had predicted earnings of $2.69 per share.

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The Los Angeles-based bank generated revenue of $125.7 million during the quarter. However, its revenue net of interest expense totaled $71.7 million, which fell short of the $73 million forecast by six analysts surveyed by Zacks.