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 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.
PACIFIC PREMIER BANCORP (Nasdaq: PPBI) has announced a new stock repurchase program, allowing for the buyback of up to 4,725,000 shares, around 5% of its outstanding shares, totaling approximately $150 million. This new program replaces the previous $100 million program initiated in December 2019, from which no shares were repurchased. The CEO stated that this initiative enhances capital management and boosts shareholder returns amidst improving economic visibility and strong internal capital generation.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) will release its fourth quarter 2020 financial results on January 26, 2021, before market opening. A conference call is scheduled for 9:00 a.m. PT / 12:00 p.m. ET that same day to discuss these results, allowing analysts and investors to engage in a Q&A session. The call will be available via webcast and can be replayed until February 2, 2021. Pacific Premier Bank, established in 1983, operates as a leading commercial bank in the western U.S., managing around $20 billion in assets and providing various banking services to businesses and professionals.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) announced that its division, Pacific Premier Trust, will upgrade its wealth business operating system to the SEI Wealth Platform during the first half of 2021. This conversion aims to boost operational efficiency and leverage scalable IRA custodial services. The SEI Wealth Platform offers an integrated technology solution that enhances client management and supports trading across 137 stock exchanges. This initiative is expected to aid in attracting new clients while improving service delivery to existing clients.
Pacific Premier Bancorp (Nasdaq: PPBI) announces that Richard Immesberger, Senior Executive Vice President, has been elected President of the Retirement Industry Trust Association (RITA). This leadership role positions him to influence growth and best practices within the self-directed retirement plan sector. RITA aims to educate and advocate for retirement savers and investors, while Immesberger's experience enhances its mission. Pacific Premier Bancorp, a significant player in the western US banking sector, manages around $20 billion in assets and services diverse financial needs.
Pacific Premier Bancorp (NASDAQ: PPBI) has donated $200,000 to the Susan G. Komen Patient Navigation Initiative (PNI) aimed at improving breast health outcomes in underserved populations in Orange County, California. The donation marks the Bank as the first corporate partner of this pilot program, which addresses health disparities in cancer care. Cancer is the second leading cause of death in the region, with a woman diagnosed every day. The initiative will train Community Health Workers to assist low-income women in accessing vital breast cancer services.
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) has renewed its multi-year partnership with the Los Angeles Chargers, focusing on social change and community engagement. As part of this partnership, they launched the Bolts Community Crew, a platform connecting fans with volunteer opportunities. Their first initiative involves packing 5,000 hygiene kits for the homeless and donating 1,200 face masks to the Boys and Girls Club Metro Los Angeles. The partnership began in 2017, emphasizing community support, including financial literacy workshops for at-risk youth.
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.
Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) will announce its third quarter 2020 financial results on Tuesday, October 27, 2020, before market open. A conference call is scheduled for the same day at 9:00 a.m. PT / 12:00 p.m. ET, allowing analysts and investors to engage in a question-and-answer session. Participants can join via telephone or access the live webcast on the company's investor relations website. Pacific Premier Bancorp, the parent of Pacific Premier Bank, has over $20 billion in total assets and provides a range of banking services to businesses in the Western US.
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