Pacific Premier Bancorp’s Community Partner, Growth Partners Arizona, Receives FHLBank San Francisco AHEAD Grant

Rhea-AI Summary

Pacific Premier Bancorp (Nasdaq: PPBI) announced that its community partner, Growth Partners Arizona, received a $37,500 grant from the Federal Home Loan Bank of San Francisco. This grant is part of the AHEAD Awards program, which allocated $3.5 million to various economic development and COVID-19 relief projects. The funding will assist Growth Partners Arizona in providing affordable loans to underserved small businesses. Chairman Steve Gardner expressed pride in supporting community initiatives aimed at reducing economic disparities.

Positive

• Grant of $37,500 awarded to Growth Partners Arizona will support underserved small businesses.
• Pacific Premier Bank's sponsorship of the grant application reflects commitment to community support.
• The AHEAD Awards program awarded $3.5 million to economic development projects, enhancing the bank's reputation.

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• None.

IRVINE, Calif.--(BUSINESS WIRE)--Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), the holding company for Pacific Premier Bank, announced that their community partner, Growth Partners Arizona, was recently awarded a $37,500 grant from the Federal Home Loan Bank of San Francisco. The award is part of FHLBank San Francisco’s 2020 AHEAD Awards, which recently granted $3.5 million in funding to targeted economic development projects and COVID-19 relief initiatives.

Growth Partners Arizona is on a mission to provide resources to nonprofits and small businesses through loans and technical assistance in order to enhance and empower underserved communities throughout Arizona. FHLBank San Francisco’s AHEAD grant will directly support Growth Partners Arizona’s Small Business Success program, which provides affordable loans to underserved and underrepresented small businesses in Arizona.

Pacific Premier Bank was proud to sponsor Growth Partners Arizona’s application for the award and continues to support the important work they are doing in Arizona. Pacific Premier Bancorp, Inc. Chairman, President, and CEO Steve Gardner said, “We are excited for the opportunity to support the communities in which we work, live, and do business. Thank you to FHLBank San Francisco for awarding an AHEAD grant to Pacific Premier and to Growth Partners Arizona’s Small Business Success program. Partnerships such as this are integral to the Bank’s commitment to eliminating economic disparities and creating positive change in underserved communities.”

FHLBank San Francisco’s 2020 AHEAD Awards

AHEAD is FHLBank San Francisco’s annual economic development grant program. In 2020, the program awarded $3.5 million to 97 different nonprofits. In response to the novel coronavirus (COVID-19) pandemic, FHLBank San Francisco awarded some of its funds to support immediate and long-term pandemic relief initiatives to help local nonprofits struggling to adapt to increased costs, loss of staff, and postponed fundraising campaigns tied to the pandemic.

AHEAD Awards are also granted to help nonprofits boost economic development in underserved communities. The awards are delivered by FHLBank San Francisco member financial institutions to nonprofits in Arizona, California, and Nevada.

About Pacific Premier Bank

Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) is the parent company of Pacific Premier Bank, a California-based commercial bank focused on serving small, middle-market, and corporate businesses throughout the western United States in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada. Founded in 1983, Pacific Premier Bank has grown to become one of the largest banks in the western region of the United States, with approximately $20 billion in total assets. Pacific Premier Bank provides banking products and services, including deposit accounts, digital banking, and treasury management services, to businesses, professionals, entrepreneurs, real estate investors, and nonprofit organizations. Pacific Premier Bank also offers a wide array of loan products, such as commercial business loans, lines of credit, SBA loans, commercial real estate loans, agribusiness loans, franchise lending, home equity lines of credit, and construction loans. Pacific Premier Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow division. Pacific Premier Bank offers clients IRA custodial services through its Pacific Premier Trust division, which has approximately $15 billion of assets under custody and approximately 44,000 client accounts comprised of self-directed investors, financial institutions, capital syndicators, and financial advisors. Additionally, Pacific Premier Bank provides nationwide customized banking solutions to Homeowners Associations and Property Management companies. Pacific Premier Bank is an Equal Housing Lender and Member FDIC. For additional information about Pacific Premier Bancorp, Inc. and Pacific Premier Bank, visit our website: www.ppbi.com