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Mar 31, 2022
Pacific Premier Q1 2022 Earnings Report
Pacific Premier reported strong loan and deposit growth, driven by a technology-driven growth strategy.
Key Takeaways
Pacific Premier Bancorp, Inc. reported a net income of $66.9 million, or $0.70 per diluted share, for Q1 2022. The company experienced strong loan and deposit growth, with annualized rates of 12.3% and 13.4%, respectively. The company prioritized risk management and took actions to position the balance sheet for higher interest rates.
Net income was $66.9 million, or $0.70 per diluted share.
Return on average assets was 1.28%, return on average equity was 9.34%, and return on average tangible common equity was 14.66%.
Loan growth was $438.6 million, or 12.3% annualized.
Deposit growth was $573.6 million, or 13.4% annualized.
Pacific Premier
Pacific Premier
Forward Guidance
The Company's estimated effective tax rate for the full year is expected to be in the range of 26% to 27%.