Pacific Premier Bancorp

Last updated
Pacific Premier Bancorp, Inc.
Company type Public
Industry Financial services
Founded1983;41 years ago (1983)
Headquarters
Irvine, California [1]
,
U.S.
Key people
M. Christian Mitchell (Lead Director)
Steven Gardner (chairman & CEO)
Increase2.svg US$ 180.03  million (2022) [2]
Increase2.svg US$ 73.363 billion (2022) [2]
Total assets Increase2.svg US$ 21.62  billion (2022) [2]
Total equity Increase2.svg US$ 2.735 million (2017) [2]
Website ppbi.com
Pacific Premier Bancorp (PPBI) stock price Pacific Premier Bancorp stock price.webp
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]

Contents

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]

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References

  1. 1 2 3 "PPBI Profile - Pacific Premier Bancorp Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 24 May 2017.
  2. 1 2 3 4 "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} ${Instrument_Ric} Company Profile". Reuters. Retrieved 24 May 2017.
  5. ↑ "Calera Capital | Pacific Premier Bancorp, Inc. to Acquire Grandpoint Capital, Inc". www.caleracapital.com. Retrieved 2023-02-14.
  6. ↑ "Pacific Premier Bancorp Recognized on Fortune's 100 Fastest Growing Companies List". AP NEWS. 2022-02-12. Retrieved 2023-02-14.
  7. 1 2 "About Us - Pacific Premier Bank - Irvine, CA - Riverside, CA - San Luis Obispo, CA". Ppbi.com. Retrieved 24 May 2017.
  8. 1 2 3 "History", Yahoo.brand.edgar-online.com, retrieved 2017-05-24
  9. ↑ "${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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