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 first quarter 2022 net income of $66.9 million, or $0.70 per diluted share, down from $84.8 million in Q4 2021. The return on average assets was 1.28%, a decrease from 1.63% in the previous quarter. Total assets rose to $21.62 billion. The company achieved 12.3% annualized loan growth, funded by a 13.4% increase in deposits. The net interest margin was 3.41%, declining from 3.53%. Nonperforming assets rose to 0.26% of total assets, compared to 0.15% in Q4 2021.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) announced it will release its first quarter 2022 financial results before the market opens on April 26, 2022. Following the release, a conference call will be held at 9:00 a.m. PT / 12:00 p.m. ET to discuss the results, with live webcasting available. The bank, a significant player in California and the western United States, has approximately $21 billion in total assets and offers various financial services.
Pacific Premier Bancorp has appointed Rose McKinney-James as a director, effective March 28, 2022. McKinney-James brings over two decades of public company director experience, particularly in ESG oversight and regulatory affairs. Her engagement will enhance the board's skillset, particularly concerning climate risk management.
Additionally, the company has released its inaugural Corporate Social Responsibility Report, highlighting initiatives such as a $50 million Equitable Impact Initiative and $2.3 billion in CRA eligible lending.
Pacific Premier Bancorp (Nasdaq: PPBI) announced it ranked #3 on Forbes' list of "America’s Best Banks" for the second time in three years. The ranking evaluates the top 100 publicly traded banks based on growth, credit quality, and profitability. Metrics are derived from regulatory filings up to September 30, 2021. CEO Steve Gardner expressed pride in this recognition, attributing it to the bank's diversified business model and technology-driven growth strategy.
Pacific Premier Bancorp (PPBI) reported a net income of $84.8 million or $0.89 per diluted share for Q4 2021, down from $90.1 million in Q3 2021. Return on average assets was 1.63% and return on average equity was 11.90%. Total assets grew to $21.09 billion, with loan commitments reaching $1.48 billion. The efficiency ratio improved to 48.0%, while nonperforming assets decreased to 0.15% of total assets. The company also enhanced its interest rate sensitivity with $900 million in interest rate swaps.
Pacific Premier Bancorp (Nasdaq: PPBI) will release its fourth quarter 2021 financial results on January 20, 2022, before market opening. A conference call to discuss the results will follow at 9:00 a.m. PT / 12:00 p.m. ET. Participants can access the call via phone or through a live webcast on Pacific Premier's investor relations website.
This call will allow analysts and investors to engage in a Q&A session. The live and archived webcasts will be available for later access.
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) announced that director Jaynie Miller Studenmund has been recognized in the 2021 NACD Directorship 100 for her exemplary leadership and governance in the boardroom. With over 20 years of experience in financial services, Ms. Studenmund has significantly contributed since joining the Board in 2019 and currently chairs the Compensation Committee while serving on the Enterprise Risk Committee. This recognition underscores her impact on corporate governance practices within the Company.
Pacific Premier Bancorp (NASDAQ: PPBI) reported a net income of $90.1 million, or $0.95 per diluted share, for Q3 2021, down from $96.3 million in Q2 2021. Total revenue increased to $199.2 million, reflecting a 20.2% annualized growth in net interest income. The company achieved an annualized 11.5% loan growth and a 10.7% deposit growth. Key metrics included a net interest margin of 3.51% and a tangible book value of $19.75 per diluted share. The efficiency ratio improved to 47.5%. Provision recapture for credit losses was $19.7 million.
Pacific Premier Bancorp (NASDAQ: PPBI) has launched its Equitable Impact Initiative, committing
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