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Last $17.00 USD
Change Today -0.11 / -0.64%
Volume 59.7K
PPBI On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).

pacific premier bancorp inc (PPBI) Key Developments

Pacific Premier Bancorp Inc. and Pacific Premier Bank Announces Executive Changes

Pacific Premier Bancorp Inc. announced that E. Allen Nicholson has been appointed Executive Vice President and Chief Financial Officer of both Pacific Premier Bancorp Inc. and Pacific Premier Bank effective June 22, 2015. He will succeed Kent J. Smith, who has served as Chief Financial Officer of both companies since September 2009. Mr. Nicholson started his career as a certified public accountant and auditor with Coopers & Lybrand LLP. Mr. Nicholson subsequently served in various finance roles at Mellon Financial and its successor, BNY Mellon, in functional areas such as commercial banking, private banking, mortgage banking, wealth management, insurance services (life company, commercial agency, consumer agency) and brokerage services.

Pacific Premier Bancorp Inc. Proposes Amendment to Amended and Restated Certificate of Incorporation

Pacific Premier Bancorp Inc. proposed to amend the company's amended and restated certificate of incorporation to increase the company's authorized shares of common stock from 25,000,000 to 50,000,000 shares, at the AGM to be held on May 26, 2015.

Pacific Premier Bancorp Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended Mar. 31, 2015

Pacific Premier Bancorp Inc. reported unaudited consolidated financial results for the first quarter ended Mar. 31, 2015. The company reported net income for the first quarter of 2015 of $1.8 million, or $0.09 per diluted share. The company’s first quarter 2015 financial results compare to net income of $3.9 million, or $0.23 per share on a diluted basis, for the fourth quarter of 2014, which included an accrual for a litigation matter of $1.7 million and merger-related expenses of $864,000 related to the acquisition of Independence Bank. The first quarter 2015 results also compare to net income of $2.6 million, or $0.15 per share on a diluted basis, for the first quarter of 2014, which included merger-related expenses of $626,000 associated with the acquisition of Infinity Franchise Holdings, LLC (“Infinity Franchise Holdings”). Excluding non-recurring merger-related expenses and the litigation expense accrued in the fourth quarter of 2014, the company reported adjusted net income of $4.3 million, or $0.21 per share on a diluted basis, for the first quarter of 2015, compared with $5.4 million, or $0.31 per share on a diluted basis, for the fourth quarter of 2014, and $3.0 million, or $0.17 per share on a diluted basis, for the first quarter of 2014. For the three months ended March 31, 2015, the company’s return on average assets was 0.29% and return on average tangible common equity was 4.04%, compared with a return on average assets of 0.78% and a return on average tangible common equity of 9.56% for the three months ended December 31, 2014, and a return on average assets of 0.64% and a return on average tangible common equity of 7.22% for the three months ended March 31, 2014. Excluding the non-recurring merger-related expenses and the litigation expense detailed above that was accrued in the fourth quarter of 2014, the company’s adjusted return on average assets was 0.70% and adjusted return on average tangible common equity was 9.24% for the three months ended March 31, 2015, compared with an adjusted return on average assets of 1.09% and an adjusted return on average tangible common equity of 13.15% for the three months ended December 31, 2014, and an adjusted return on average assets of 0.73% and an adjusted return on average tangible common equity of 8.23% for the three months ended March 31, 2014. Net interest income totaled $23.1 million in the first quarter of 2015, up $3.9 million or 20.0% from the fourth quarter of 2014. The increase in net interest income reflected an increase in average interest-earning assets of $447.5 million, partially offset by a decrease in the net interest margin of 3 basis points to 3.99% and two less days in the current quarter. Net interest income for the first quarter of 2015 increased $6.5 million or 39.0% compared to $16.64 million for the first quarter of 2014. The increase was primarily related to an increase in average interest-earning assets of $779.1 million, primarily related to organic loan growth since the end of the first quarter of 2014 and acquisition of Independence Bank during the first quarter of 2015. The increase was partially offset by a lower net interest margin, which decreased 31 basis points from the first quarter of 2014 to the first quarter of 2015. At March 31, 2015, the ratio of tangible common equity to total assets was 7.95%, with a tangible book value of $10.01 per share and a book value per share of $12.78. Total interest income was $26.07 million against $18.02 million for the same period of last year. income before income tax was $2.85 million against $4.197 million for the same period of last year.

Pacific Premier Bancorp Seeks Acquisitions

Steven Gardner, President and Chief Executive Officer Pacific Premier Bancorp Inc. (NasdaqGS:PPBI) said in the first quarter earnings call 2015, "M&A is an ongoing process at our Bank, and we continually have a pipeline of targets that we are evaluating. Over time we expect acquisitions to continue to make a contribution to the overall growth of our franchise."

Pacific Premier Bancorp Inc., Annual General Meeting, May 26, 2015

Pacific Premier Bancorp Inc., Annual General Meeting, May 26, 2015., at 09:00 Pacific Standard Time. Location: 17901 Von Karman Avenue, Suite 1200. Agenda: To elect seven directors, each for a one-year term, or until their successors are elected and qualified; to approve, on a non-binding advisory basis, the company's executive compensation; to amend the company's amended and restated certificate of incorporation to increase the company's authorized shares of common stock from 25,000,000 to 50,000,000 shares; to amend and restate the company's 2012 long-term incentive plan to permit, among other things, the grant of performance-based awards, including both equity compensation awards and cash bonus payments that may not be subject to the deduction limitations of Section 162(m) of the Internal Revenue Code; to ratify the appointment of Vavrinek, Trine, Day & Co., LLP as the company's independent auditor for the fiscal year ended December 31, 2015; to adjourn the annual meeting to a later date or dates, if necessary, to permit further solicitation of proxies; and to transact such other matters as may properly come before the meeting.

 

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PPBI

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Valuation PPBI Industry Range
Price/Earnings 19.6x
Price/Sales 3.9x
Price/Book 1.3x
Price/Cash Flow 23.3x
TEV/Sales NM Not Meaningful
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