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Mar 31, 2023
Pacific Premier Q1 2023 Earnings Report
Pacific Premier reported solid profitability and returns amidst a challenging operating environment, demonstrating commitment to diversified commercial client base and prudent risk management.
Key Takeaways
Pacific Premier Bancorp, Inc. reported a net income of $62.6 million, or $0.66 per diluted share, for Q1 2023. The company's return on average assets was 1.15%, return on average equity was 8.87%, and return on average tangible common equity was 13.89%. Total assets amounted to $21.36 billion.
Net income was $62.6 million, or $0.66 per diluted share.
Return on average assets was 1.15%, return on average equity was 8.87%, and return on average tangible common equity was 13.89%.
Net interest margin was 3.44%.
Nonperforming assets to total assets were 0.14%, and net charge-offs to average loans were 0.02%.
Pacific Premier
Pacific Premier
Forward Guidance
The company is preparing for potential dislocations in credit, funding, and capital markets, and will leverage its balance sheet, liquidity, and capital positions to navigate headwinds and take advantage of future opportunities.