Pacific Premier Bancorp Inc - PPBI STOCK NEWS

Pacific Premier Bancorp (NASDAQ: PPBI) has appointed George M. Pereira as a director, effective August 16, 2021. Pereira brings over 30 years of financial services experience, having served as COO and CFO at Charles Schwab Investment Management. He will join the Audit and Enterprise Risk Committees, enhancing the board’s strategic planning and value creation capabilities. Pereira's expertise includes financial reporting, risk management, and cybersecurity oversight. His addition is expected to strengthen the leadership team as PPBI continues to grow its operations across the western U.S.

Pacific Premier Bancorp (NASDAQ: PPBI) reported a net income of $96.3 million, or $1.01 per diluted share, for Q2 2021, up from $68.7 million (or $0.72) in Q1 2021, and a significant recovery from a net loss of $99.1 million in Q2 2020. The Company's ROAA was 1.90%, and ROAE at 14.02%. Total assets increased to $20.53 billion. Loan commitments surged to $1.58 billion, a 36.7% increase from the previous quarter. The provision for credit losses saw a recapture of $38.5 million, reflecting a positive shift in asset quality.

Pacific Premier Bancorp (Nasdaq: PPBI) has received the Corporate Responsibility award from the Association for Corporate Growth (ACG) Orange County during the 2021 ACG Awards, held on June 10, 2021. This recognition highlights Pacific Premier's commitment to listening, adapting, and contributing to its communities over the past year. Pacific Premier was one of nine companies honored, chosen for their excellence and impact on economic growth in Orange County. The selection process emphasized adaptation during the global pandemic, showcasing Pacific Premier's efforts in responsible corporate stewardship.

Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) plans to release its second quarter 2021 financial results on July 27, 2021, prior to market opening. A conference call is scheduled for the same day at 9:00 a.m. PT / 12:00 p.m. ET, where analysts and investors can participate in a Q&A session. The call will be available via live webcast and archived for later access. Pacific Premier Bank, the parent company, serves businesses across the western U.S. with approximately $20 billion in assets and provides various banking services and loan products.

Pacific Premier Bancorp (NASDAQ: PPBI) reported a net income of $68.7 million, or $0.72 per diluted share for Q1 2021, marking an increase from $67.1 million, or $0.71 per diluted share in Q4 2020, and $25.7 million, or $0.43 per diluted share in Q1 2020. Total assets reached $20.17 billion, up from $19.74 billion in Q4 2020. The company increased its dividend to $0.33 per share. Despite challenges, loan production exceeded $1.15 billion, a 27% increase from the previous quarter, supported by robust asset quality and lower deposit costs.

Pacific Premier Bancorp (Nasdaq: PPBI) has committed $70,000 as the Exclusive Sponsor of the California Community Economic Development Association's (CCEDA) Climate Adaptation Initiative. This funding aims to support low- and moderate-income communities in California in preparing for climate change. The partnership will enhance CCEDA's digital outreach, promoting resources for community-based nonprofits addressing climate issues. CEO Steve Gardner emphasized the initiative's focus on underserved communities at risk from climate change impacts.

Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) is set to release its first quarter 2021 financial results on April 27, 2021, before the market opens. Following the announcement, the bank will host a conference call at 9:00 a.m. PT (12:00 p.m. ET) to discuss the results. The call will be accessible through a live webcast, with a replay available shortly after. Pacific Premier Bank, which has approximately $20 billion in total assets, provides diverse banking services across the western United States.

Pacific Premier Bancorp (NASDAQ: PPBI) reported fourth-quarter 2020 net income of $67.1 million, or $0.71 per diluted share, marking a slight increase from $66.6 million in Q3 2020. The company achieved a return on average assets (ROAA) of 1.34%, and a return on average tangible common equity (ROATCE) of 16.32%. Total assets reached $19.7 billion, and dividends rose to $0.30 per share. Despite challenges like a low interest rate environment, Pacific Premier is well-positioned for potential growth in 2021, having completed the Opus integration and focusing on business development.