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Pacific Premier Bancorp

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Pacific Premier Bancorp, Inc.
Company typePublic
IndustryFinancial services
Founded1983; 41 years ago (1983)
Headquarters,
U.S.
Key people
M. Christian Mitchell (Lead Director)
Steven Gardner (chairman & CEO)
Increase US$ 180.03  million (2022)[2]
Increase US$ 73.363 billion (2022)[2]
Total assetsIncrease US$ 21.62  billion (2022)[2]
Total equityIncrease US$ 2.735 million (2017)[2]
Websiteppbi.com
Pacific Premier Bancorp (PPBI) stock price

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

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Foundation

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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

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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

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

References

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  1. ^ a b c "PPBI Profile - Pacific Premier Bancorp Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 24 May 2017.
  2. ^ a b c d "Financial Overview | Pacific Premier Bancorp, Inc". annualreport2021.ppbi.com. Retrieved 2023-02-14.
  3. ^ "EDGAR Pro". yahoo.brand.edgar-online.com. Retrieved 24 May 2017.
  4. ^ "${Instrument_CompanyName} ${Instrument_Ric} Company Profile". Reuters. Retrieved 24 May 2017.
  5. ^ "Calera Capital | Pacific Premier Bancorp, Inc. to Acquire Grandpoint Capital, Inc". www.caleracapital.com. Retrieved 2023-02-14.
  6. ^ "Pacific Premier Bancorp Recognized on Fortune's 100 Fastest Growing Companies List". AP NEWS. 2022-02-12. Retrieved 2023-02-14.
  7. ^ a b "About Us - Pacific Premier Bank - Irvine, CA - Riverside, CA - San Luis Obispo, CA". Ppbi.com. Retrieved 24 May 2017.
  8. ^ a b c "History", Yahoo.brand.edgar-online.com, retrieved 2017-05-24
  9. ^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
  10. ^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
  11. ^ "${Instrument_CompanyName} ${Instrument_Ric} Key Developments". Reuters. Retrieved 24 May 2017.
  12. ^ "SD Trust Bank sold to Pacific Premier". San Diego Union-Tribune. 2013-03-06. Retrieved 2023-02-14.
  13. ^ "BRIEF-Pacific Premier Bancorp acquires Infinity Franchise Holdings". Reuters. 18 November 2017. Retrieved 24 May 2017.
  14. ^ "Pacific Premier Acquires Independence Bank". www.ocbj.com. 22 October 2014. Retrieved 2021-09-14.
  15. ^ Iddings, Reporter Jackie (2017-04-04). "Heritage Oaks Bank acquired by Pacific Premier Bancorp". Paso Robles Daily News. Retrieved 2021-09-14.
  16. ^ McGuinness, Chris. "Pacific Premier shareholders approve Heritage Oaks Bank acquisition". New Times San Luis Obispo. Retrieved 2023-02-14.
  17. ^ "Pacific Premier to top $10B in assets with latest acquisition". American Banker. 2018-02-12. Retrieved 2023-02-14.
  18. ^ Gara, Antoine. "America's Best And Worst Banks 2020". Forbes. Retrieved 2023-02-14.
  19. ^ Murphy, Andrea. "America's Best Banks 2022". Forbes. Retrieved 2023-02-14.
  20. ^ Maio, Pat (2021-04-18). "PacWest Catapults Into Top Ranking of HOA Deposit Businesses in US". Los Angeles Business Journal. Retrieved 2023-02-14.
  21. ^ "Los Angeles Chargers and Pacific Premier Bank Launch Bolts Community Crew with Partnership Renewal". www.chargers.com. Retrieved 2021-09-14.
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