| Pacific Premier Bancorp, Inc. | |
| Type: | Public |
| Industry: | Financial services |
| Location City: | Irvine, California[1] |
| Location Country: | U.S. |
| Key People: | M. Christian Mitchell (Lead Director) Steven Gardner (chairman & CEO) |
| Operating Income: | US$ 180.03 million (2022)[2] |
| Net Income: | US$ 73.363 billion (2022) |
| Assets: | US$ 21.62 billion (2022) |
| Equity: | US$ 2.735 million (2017) |
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]
Pacific Premier Bank was originated from Life Bank and founded in 1983.[7]
In 1991, the bank became a federally chartered stock savings bank. 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. In 2007, the bank became a California-chartered commercial bank.
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.[8] On March 15, 2013, the company acquired First Associations Bank, a Texas-chartered bank headquartered in Dallas, Texas.[9] On June 25, 2013, Pacific Premier Bancorp acquired San Diego Trust Bank.[10] [11]
On November 18, 2013, the company acquired Infinity Franchise Holdings with a price estimated to be approximately $16 million.[12] In October 2014, it bought Independence Bank, located in Newport Beach, for $71.5 million.[13]
In April 2017, the company bought Heritage Oaks Bancorp.[14] [15] 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.[16]
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.[17] [18] [19]
Pacific Premier Bank has been a sponsor of the Los Angeles Chargers since 2017.[20]