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Mar 31, 2021
Pacific Premier Q1 2021 Earnings Report
Pacific Premier's financial performance remained strong, marked by solid profitability and strategic capital management.
Key Takeaways
Pacific Premier Bancorp reported a net income of $68.7 million, or $0.72 per diluted share, for the first quarter of 2021. The company's performance was driven by effective cost management, exceptional asset quality, and a high level of profitability. The company also increased its common stock dividend to $0.33 per share.
Net income reached $68.7 million, resulting in diluted earnings per share of $0.72.
Return on average assets was 1.37%, return on average equity was 9.99%, and return on average tangible common equity was 16.21%.
The quarterly common equity dividend was increased by $0.03 to $0.33 per share.
Net interest margin stood at 3.55%, with a core net interest margin of 3.30%.
Forward Guidance
Pacific Premier is well-positioned for continued growth and profitability, with a focus on strategic capital deployment and organic growth initiatives.
Positive Outlook
- Loan pipeline continues to build.
- Balance sheet remixing towards higher yielding earning assets.
- Growth in net interest income.
- Strong capital ratios.
- Well positioned to support continued organic growth and execute on strategic transactions.
Challenges Ahead
- Challenging environment due to payoffs and decline in credit line utilization.
- Significant payoffs and a decline in credit line utilization rates.
- Seasonally low period for the origination of new loans.
- Another quarter of significant payoffs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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