Company Profile
- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (“the company”) is the bank holding company for its primary subsidiary, Pacific Premier Bank (“the bank”) (est. 1983), a commercially oriented bank with an operating strategy targeting small business and middle market companies. The company’s rather efficient retail operation includes 58 branch locations primarily concentrated in Southern California, as well as the Central Coast of CA and the Seattle MSA, with a small presence in NV, OR, and AZ.
- PPBI’s commercially focused loan portfolio includes a concentration in multifamily lending (39% at 1Q24), located throughout the West Coast though largely centered in LA County, CA. Other investor CRE represented roughly 23% of total loans, including a manageable portion of office loans, totaling approximately $600 million, or 5% of total loans. The company’s C&I portfolio comprised approximately 27% of total loans (includes owner-occupied CRE), with roughly $600…