Pacific Premier Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 29, 2024 at 06:04 am EST
Share
Pacific Premier Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 146.79 million compared to USD 181.4 million a year ago. Net loss was USD 135.38 million compared to net income of USD 73.67 million a year ago. Basic loss per share from continuing operations was USD 1.44 compared to basic earnings per share from continuing operations of USD 0.78 a year ago. Diluted loss per share from continuing operations was USD 1.44 compared to diluted earnings per share from continuing operations of USD 0.77 a year ago.
For the full year, the company reported net interest income was USD 625.04 million compared to USD 697.11 million a year ago. Net income was USD 30.85 million compared to USD 283.74 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 2.99 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 2.98 a year ago.
Pacific Premier Bancorp, Inc. is a bank holding company. The Company operates through its wholly owned subsidiary, Pacific Premier Bank (the Bank). The Bank provides banking products and services, including deposit accounts, digital banking, and treasury management services, to businesses, professionals, entrepreneurs, real estate investors, and nonprofit organizations. The Bank also offers a range of loan products, such as commercial business loans, lines of credit, commercial real estate loans, agribusiness loans, franchise lending, and construction loans. Pacific Premier Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow division. The Bank offers clients individual retirement account (IRA) custodial services through its Pacific Premier Trust division. It conducts business throughout the Western Region of the United States from its 58 full-service depository branches located in Arizona, California, Nevada, and Washington.