Preferred Bank (PFBC) in Los Angeles is set to post its first loss since the fourth quarter of 2010 following unexpected write-downs on two loans.

The $1.4 billion-asset company announced Thursday it expects to swing to a loss of $5.5 million to $5.7 million for the quarter from a profit of $1.7 million a year earlier. The loss would be roughly 43 cents per share, compared to the earnings of 15 cents per share that analysts had projected, according to Thomson Reuters.

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