Pacific Premier Bancorp

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Pacific Premier Bancorp - Wikipedia

From Wikipedia, the free encyclopedia

Pacific Premier Bancorp, Inc.

Company type	Public
Traded as	Nasdaq: PPBI S&P 600 component
Industry	Financial services
Founded	1983; 41 years ago (1983)
Headquarters	Irvine, California^[1] , U.S.
Key people	M. Christian Mitchell (Lead Director) Steven Gardner (chairman & CEO)
Revenue	$ 440.99 million (fiscal year ended 31 December 2023)^[2]
Net income	$ 30.85 million (fiscal year ended 31 December 2023)^[2]
Total assets	$ 19.03 billion (fiscal year ended 31 December 2023)^[2]
Total equity	$ 2.88 billion (fiscal year ended 31 December 2023)^[2]
Number of employees	1,345 FTE (fiscal year ended 31 December 2023)^[2]
Website	ppbi.com
Footnotes / references ^[2]

Pacific Premier Bancorp, Inc. is an American bank holding company under the Bank Holding Company Act of 1956 headquartered in Irvine, California, US.^[3]^[4] Its principal business focuses on Pacific Premier Bank, which offers a range of financial services to individuals, businesses, and professionals. The bank operates numerous branches in California, Arizona, Nevada, and Washington.^[5]

Pacific Premier Bank also offers commercial escrow services and facilitates 1031 exchange transactions through its Commerce Escrow division.^[1]^[6]

History

Foundation

Pacific Premier Bank was originated from Life Bank and founded in 1983.^[7]

In 1991, the bank became a federally chartered stock savings bank.^[8] In 1997 Pacific Premier Bancorp, Inc. was formed as a banking holding company.^[1]

In 2006, new depository branches were formed in Costa Mesa, Huntington Beach, and Los Alamitos.^[8] In 2007, the bank became a California-chartered commercial bank.^[8]

2011-2020 Growth through acquisition

In 2011, Pacific Premier Bank completed the acquisition of Canyon National Bank.^[7] On April 27, 2012, the Company completed the acquisition of Palm Desert National Bank.^[9] On March 15, 2013, the company acquired First Associations Bank, a Texas-chartered bank headquartered in Dallas, Texas.^[10] On June 25, 2013, Pacific Premier Bancorp acquired San Diego Trust Bank.^[11]^[12]

On November 18, 2013, the company acquired Infinity Franchise Holdings with a price estimated to be approximately $16 million.^[13] In October 2014, it bought Independence Bank, located in Newport Beach, for $71.5 million.^[14]

In April 2017, the company bought Heritage Oaks Bancorp.^[15]^[16] In 2018, it acquired the holding company of Grandpoint Bank Grandpoint Capital, Regents Bank, and the Biltmore Bank of Arizona with approximately $3.2 billion in total assets.^[17]

In 2020, the bank bought Opus Bank with approximately $8 billion in total assets, along with its divisions PENSCO Trust Company (now Pacific Premier Trust) and Commerce Escrow.^[18]^[19]^[20]

Sponsorship

Pacific Premier Bank has been a sponsor of the Los Angeles Chargers since 2017.^[21]

References

^ ^a ^b ^c "PPBI Profile - Pacific Premier Bancorp Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 24 May 2017.
^ ^a ^b ^c ^d ^e ^f "Pacific Premier Bancorp, Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
^ "EDGAR Pro". yahoo.brand.edgar-online.com. Retrieved 24 May 2017.
^ "${Instrument_CompanyName} ${Instrument_Ric} Company Profile". Reuters. Retrieved 24 May 2017.
^ "Calera Capital | Pacific Premier Bancorp, Inc. to Acquire Grandpoint Capital, Inc". www.caleracapital.com. Retrieved 2023-02-14.
^ "Pacific Premier Bancorp Recognized on Fortune's 100 Fastest Growing Companies List". AP NEWS. 2022-02-12. Retrieved 2023-02-14.
^ ^a ^b "About Us - Pacific Premier Bank - Irvine, CA - Riverside, CA - San Luis Obispo, CA". Ppbi.com. Retrieved 24 May 2017.
^ ^a ^b ^c "History", Yahoo.brand.edgar-online.com, retrieved 2017-05-24
^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
^ "SD Trust Bank sold to Pacific Premier". San Diego Union-Tribune. 2013-03-06. Retrieved 2023-02-14.
^ "BRIEF-Pacific Premier Bancorp acquires Infinity Franchise Holdings". Reuters. 18 November 2017. Retrieved 24 May 2017.
^ "Pacific Premier Acquires Independence Bank". www.ocbj.com. 22 October 2014. Retrieved 2021-09-14.
^ Iddings, Reporter Jackie (2017-04-04). "Heritage Oaks Bank acquired by Pacific Premier Bancorp". Paso Robles Daily News. Retrieved 2021-09-14.
^ McGuinness, Chris. "Pacific Premier shareholders approve Heritage Oaks Bank acquisition". New Times San Luis Obispo. Retrieved 2023-02-14.
^ "Pacific Premier to top $10B in assets with latest acquisition". American Banker. 2018-02-12. Retrieved 2023-02-14.
^ Gara, Antoine. "America's Best And Worst Banks 2020". Forbes. Retrieved 2023-02-14.
^ Murphy, Andrea. "America's Best Banks 2022". Forbes. Retrieved 2023-02-14.
^ Maio, Pat (2021-04-18). "PacWest Catapults Into Top Ranking of HOA Deposit Businesses in US". Los Angeles Business Journal. Retrieved 2023-02-14.
^ "Los Angeles Chargers and Pacific Premier Bank Launch Bolts Community Crew with Partnership Renewal". www.chargers.com. Retrieved 2021-09-14.

External links

Official website

Selected companies of the Nasdaq Financial-100 index

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