Pacific Premier Bancorp Ranked 3rd Best Performing Regional Bank by S&P Global Market Intelligence
April 05 2019 - 6:00AM
Business Wire
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding
company of Pacific Premier Bank, announced today that it was ranked
as the third best performing regional bank in the United States by
S&P Global Market Intelligence based on its financial results
for the year ended December 31, 2018. This represents Pacific
Premier Bancorp’s first year being classified as a regional bank by
S&P Global Market Intelligence, which defines “regional banks”
as banks and thrifts with between $10 billion and $50 billion in
total assets. Prior to moving into the larger regional bank
category, Pacific Premier Bancorp had been ranked by S&P Global
Market Intelligence as one of the 10 best performing community
banks in the country for three consecutive years.
S&P Global Market Intelligence’s rankings are based on six
metrics: return on average tangible common equity, net charge-offs
as a percentage of average loans, adjusted Texas ratio, efficiency
ratio, net interest margin, and loan growth. In 2018, 87 companies
were eligible for the S&P Global Market Intelligence rankings
in the regional bank size category.
“We are proud to continue our track record as one of the top
performing banks in the United States,” said Steven R. Gardner,
Chairman, President and Chief Executive Officer of Pacific Premier
Bancorp. “At the end of 2010, Pacific Premier was a small community
bank in Orange County that had approximately $800 million in
assets. Following the successful execution of our organic and
acquisitive growth strategies, Pacific Premier is now one of the
leading commercial banking franchises on the West Coast with more
than $11 billion in assets, a deep presence across Southern
California and the Central Coast, and a growing footprint in
additional high growth markets in Arizona, Nevada and Washington.
We believe our consistent ranking among the top banks in the
country is a testament to our dedicated and hardworking team’s
ability to prudently manage our growth while continuing to deliver
superior financial performance for our shareholders.”
About Pacific Premier Bancorp, Inc.
Pacific Premier Bancorp (the “Company”) is the holding company
for Pacific Premier Bank, one of the largest banks headquartered in
Southern California with approximately $11.5 billion in assets.
Pacific Premier Bank is a business bank primarily focused on
serving small and middle market businesses in the counties of
Orange, Los Angeles, Riverside, San Bernardino, San Diego, San Luis
Obispo and Santa Barbara, California, as well as markets in the
states of Arizona, Nevada and Washington. Through its more than 40
depository branches, Pacific Premier Bank offers a diverse range of
lending products including commercial, commercial real estate,
construction, and SBA loans, as well as specialty banking products
for homeowners associations and franchise lending nationwide.
Forward-Looking Comments
The statements contained herein that are not historical facts
are forward-looking statements based on management’s current
expectations and beliefs regarding future financial results and
shareholder value creation.
Such statements involve inherent risks and uncertainties, many
of which are difficult to predict and are generally beyond the
control of the Company. There can be no assurance that future
developments affecting the Company will be the same as those
anticipated by management. The Company cautions readers that a
number of important factors could cause actual results to differ
materially from those expressed in, or implied or projected by,
such forward-looking statements. These risks and uncertainties
include, but are not limited to, the following: the expected cost
savings, synergies and other financial benefits from any
acquisition the Company has made or may make might not be realized
within the expected time frames or at all; the strength of the
United States economy in general and the strength of the local
economies in which the Company conducts operations; the effects of,
and changes in, trade, monetary and fiscal policies and laws,
including interest rate policies of the Board of Governors of the
Federal Reserve System; inflation, interest rate, market and
monetary fluctuations; the timely development of competitive new
products and services and the acceptance of these products and
services by new and existing customers; the willingness of users to
substitute competitors’ products and services for the Company’s
products and services; the impact of changes in financial services
policies, laws and regulations (including the Dodd-Frank Wall
Street Reform and Consumer Protection Act) and of governmental
efforts to restructure the U.S. financial regulatory system;
technological changes; changes in the level of the Company’s
nonperforming assets and charge offs; any oversupply of inventory
and deterioration in values of California real estate, both
residential and commercial; the effect of changes in accounting
policies and practices, as may be adopted from time-to-time by bank
regulatory agencies, the Securities and Exchange Commission
(“SEC”), the Public Company Accounting Oversight Board, the
Financial Accounting Standards Board or other accounting standards
setters; possible other-than-temporary impairment of securities
held by us; changes in consumer spending, borrowing and savings
habits; the effects of the Company’s lack of a diversified loan
portfolio, including the risks of geographic and industry
concentrations; ability to attract deposits and other sources of
liquidity; changes in the financial performance and/or condition of
our borrowers; changes in the competitive environment among
financial and bank holding companies and other financial service
providers; unanticipated regulatory or judicial proceedings; and
the Company’s ability to manage the risks involved in the
foregoing. Additional factors that could cause actual results to
differ materially from those expressed in the forward-looking
statements are discussed in the 2018 Annual Report on Form 10-K of
Pacific Premier Bancorp, Inc. filed with the SEC and available at
the SEC’s Internet site (http://www.sec.gov).
The Company undertakes no obligation to revise or publicly
release any revision or update to these forward-looking statements
to reflect events or circumstances that occur after the date on
which such statements were made.
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version on businesswire.com: https://www.businesswire.com/news/home/20190405005066/en/
Pacific Premier Bancorp, Inc.
Steven R. GardnerChairman, President and Chief Executive
Officer949-864-8000
Ronald J. Nicolas, Jr.Senior Executive Vice President and Chief
Financial Officer949-864-8000
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