Welcome to our dedicated page for Pacific Premier Bancorp news (Ticker: PPBI), a resource for investors and traders seeking the latest updates and insights on Pacific Premier Bancorp stock.
Pacific Premier Bancorp Inc. (symbol: PPBI) is a state-chartered commercial bank headquartered in Irvine, California. Originally founded in 1983, it serves businesses throughout Southern California from its sixteen depository branches located in Corona, Encinitas, Huntington Beach, Irvine, Los Alamitos, Newport Beach, Palm Desert (2), Palm Springs (2), Riverside, San Bernardino, San Diego (2), Seal Beach, and Tustin. The company operates within the counties of Orange, San Bernardino, San Diego, and Riverside.
Pacific Premier Bank provides a comprehensive array of deposit and loan products and services targeted at commercial businesses, non-profit organizations, and consumers. The bank has established itself as a specialist in serving small and middle-market businesses and professionals who require a diverse range of loan, deposit, and cash management products.
The bank offers various banking solutions, including cash management, electronic banking services, credit facilities, and retirement accounts. Its commitment lies in helping customers achieve their personal and professional financial objectives. Pacific Premier Bank's mission is to find new opportunities for both its customers and the bank itself by fostering a mutually beneficial relationship.
Recent achievements include expanding their suite of electronic banking services and enhancing their cash management solutions to better serve their client base. They have also focused on building strong partnerships within the community and fostering collaborations that benefit the local economy.
With a solid financial condition, Pacific Premier Bancorp Inc. continues to grow its footprint in the banking industry. The bank maintains a focus on customer service excellence and innovation, ensuring that its products and services remain competitive and relevant in the ever-evolving financial landscape.
Pacific Premier Bancorp (NASDAQ: PPBI) reported a net income of $62.6 million, or $0.66 per diluted share, for Q1 2023, a decline from the previous quarter's $73.7 million ($0.77) and last year's $66.9 million ($0.70). The return on average assets (ROAA) was 1.15%, down from 1.36% in Q4 2022 and 1.28% in Q1 2022. Net interest income fell by 7.0% to $168.6 million, attributed to higher funding costs. Total deposits decreased by $144.6 million or 0.8% quarter-over-quarter. The total risk-based capital ratio stood at 16.33% while tangible book value per share rose to $19.61.
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) announced it will release its first quarter 2023 financial results on April 27, 2023, before the market opens. A conference call will be held at 9:00 a.m. PT to discuss the results, with a question-and-answer session for analysts and investors. The call will be accessible via telephone and live webcast. The replay of the call will be available until May 4, 2023. Pacific Premier is a leading California-based commercial bank with approximately $22 billion in total assets, focusing on small to middle-market businesses across the western United States. The bank offers a broad range of financial products including loans and treasury management services.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) has been ranked #9 on Forbes' 2023 list of "America’s Best Banks," making it the third time in four years the company has achieved a top ten position. The ranking assesses large publicly-traded banks based on revenue growth, credit quality, and profitability, utilizing metrics from public filings through September 30, 2022. CEO Steve Gardner highlighted the recognition as a testament to the company’s strong financial performance in a challenging operating environment, emphasizing the bank's resilience and commitment to leveraging technology for future growth.
Pacific Premier Bancorp reported a fourth quarter 2022 net income of $73.7 million, or $0.77 per diluted share, slightly up from $73.4 million in Q3 2022 but down from $84.8 million in Q4 2021. Key metrics include a return on average assets of 1.36% and a total risk-based capital ratio of 15.53%. The company saw a modest cost of deposits at 0.58% and a loan-to-deposit ratio of 84.6%. However, total assets rose to $21.69 billion from $21.62 billion in the previous quarter. The tangible book value per share increased by 3.7% to $19.38. Looking forward, the firm aims to expand its product offerings amidst uncertain economic conditions.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) will release its fourth quarter 2022 financial results on January 26, 2023, before the market opens. A conference call is scheduled for 9:00 a.m. PT / 12:00 p.m. ET, allowing analysts and investors to participate in a Q&A session. The call will be accessible via a live webcast and will be available for replay shortly after. The bank, headquartered in California, has approximately $22 billion in total assets and offers a range of banking services to small and corporate businesses across the western U.S.
Pacific Premier Bancorp (NASDAQ: PPBI) reported net income of $73.4 million, or $0.77 per diluted share for Q3 2022, marking a 5.7% increase from the previous quarter's $69.8 million net income. The company’s return on average assets (ROAA) stood at 1.35%, while the net interest margin rose to 3.61%. Total assets were $21.62 billion, down from $21.99 billion in Q2 2022. However, loan production declined due to rising interest rates impacting commercial real estate activity. The company declared a dividend of $0.33 per share, consistent with previous quarters.
Pacific Premier Bancorp (NASDAQ: PPBI) will release its third quarter 2022 financial results on October 20, 2022, before market opening. A conference call will follow at 9:00 a.m. PT to discuss the results, allowing analysts and investors to engage in a Q&A session. The call can be accessed via telephone or webcast, with replay options available until October 27, 2022. The bank, headquartered in California, is focused on serving small, middle-market, and corporate clients across the western U.S., boasting approximately $22 billion in assets.
Pacific Premier Bancorp (NASDAQ: PPBI) appointed Stephanie Hsieh to its Board of Directors effective July 29, 2022. With nearly 30 years of experience in the biopharmaceutical and biotechnology sectors, Hsieh's background includes executive management, enterprise risk management, and legal expertise. Her addition aims to enhance the Board's diversity and strengthen strategic planning. Hsieh is independent per NASDAQ guidelines and will serve on the Compensation and Enterprise Risk Committees.
Pacific Premier Bancorp reported a net income of $69.8 million, or $0.73 per diluted share for Q2 2022, up from $66.9 million in Q1 2022 but down from $96.3 million in Q2 2021. The company achieved a return on average assets of 1.29% and a return on average equity of 10.10%. Total assets rose to $21.99 billion. Loan growth was noteworthy at $356.3 million (or 9.7% annualized), with net interest income increasing by 6.8% to $172.8 million.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) has announced it will release its second quarter 2022 financial results on July 21, 2022, before market open. The company will host a conference call at 9:00 a.m. PT to discuss these results, offering analysts and investors a chance to engage in a Q&A session. The call will be available via webcast, with an archived version accessible shortly after completion. Pacific Premier is a leading commercial bank in the western US, managing over $21 billion in assets and providing a comprehensive range of banking services.
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