# Li Yu

> Li Yu founded Preferred Bank in Los Angeles in 1991, has chaired its board since December 1991 and has served as CEO since 1993. A UCLA MBA with earlier experience in accounting and petroleum finance, he has emphasized operating discipline, customer relationships and shareholder returns. He and his wife Grace donated $1 million to the GRAMMY Museum in 2022 for music education.

- **Role:** Founder, Chairman and Chief Executive Officer at Preferred Bank
- **Organizations:** Preferred Bank, California Pacific National Bank, Touche Ross, USA Petroleum Corporation, National Association of Chinese American Bankers, UCLA Anderson School of Management, Grace and Li Yu Family Foundation
- **From:** Shanghai, China
- **Education:** Master of Business Administration (MBA), University of California, Los Angeles
- **Known for:** Founded Preferred Bank in 1991 with $20 million in initial capital., Has served as Preferred Bank CEO since 1993 and chairman since December 1991., Included in the Los Angeles Business Journal LA500 in 2024, 2025 and 2026.

## Career timeline

- **1963** — Arrived in the United States for graduate study after being born in Shanghai and raised in Taiwan.
- **1968** — Earned an MBA from UCLA; subsequently worked at Touche Ross.
- **1973** — Became chief financial officer of USA Petroleum Corporation.
- **1979** — Joined acquaintances in organizing California Pacific National Bank and became a board member.
- **1982-1987** — Chaired California Pacific National Bank, according to Preferred Bank’s corporate biography.
- **1987-1991** — Owned several privately held companies.
- **1991** — Founded Preferred Bank with $20 million in initial capital; began chairmanship in December.
- **1993** — Became CEO and president of Preferred Bank.
- **2005** — Preferred Bank became publicly traded.
- **2012** — Concluded service as bank president in August while continuing as chairman and CEO.
- **2021** — Received a commemorative watch from directors and executives for Preferred Bank’s thirtieth anniversary.
- **2022** — With Grace Yu, gave $1 million to the GRAMMY Museum to support music education.
- **2026** — Continued as Preferred Bank chairman and CEO; signed April shareholder letter and commented on July quarterly results.

## Achievements

- Founded Preferred Bank in 1991 with $20 million in initial capital.
- Has served as Preferred Bank CEO since 1993 and chairman since December 1991.
- Included in the Los Angeles Business Journal LA500 in 2024, 2025 and 2026.
- Served as president of the National Association of Chinese American Bankers.
- With Grace Yu, donated $1 million to the GRAMMY Museum in 2022; its lobby was named for the couple.

## Latest updates

- **2026-10** — On October 7, Preferred Bank scheduled its third-quarter earnings release and management conference call for October 23, 2026.
- **2026-07** — Yu commented on second-quarter results: $33.5 million net income and a $70.2 million quarter-over-quarter decrease in nonperforming loans.
- **2026-05** — Named to the Los Angeles Business Journal’s LA500 for a third year.
- **2026-04** — In his April 22 shareholder letter, Yu reported 2025 net income of $133.6 million and emphasized organic growth and tangible book value.

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Profile page: https://yespress.io/li-yu
Published by YesPress — https://yespress.io
Last updated: 2026-10-21