Preferred Bank Correlations

Elected by the shareholders, the Preferred Bank's board of directors comprises two types of representatives: Preferred Bank inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Preferred. The board's role is to monitor Preferred Bank's management team and ensure that shareholders' interests are well served. Preferred Bank's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Preferred Bank's outside directors are responsible for providing unbiased perspectives on the board's policies.