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Jun 30, 2020
Pacific Premier Q2 2020 Earnings Report
Reported a net loss due to provision for credit losses and merger-related costs associated with the acquisition of Opus.
Key Takeaways
Pacific Premier Bancorp reported a net loss of $99.1 million, or $1.41 per diluted share, for the second quarter of 2020. The results were impacted by a provision for credit losses of $160.6 million and merger-related costs of $39.3 million related to the Opus acquisition.
Net loss of $99.1 million, or $1.41 per diluted share.
Pre-provision net revenue of $60.6 million, excluding $39.3 million of merger-related expense.
Net interest margin of 3.79% and core net interest margin of 3.59%.
Nonperforming assets represent 0.17% of total assets.
Pacific Premier
Pacific Premier
Forward Guidance
As we enter the second half of 2020, there remains a high level of economic uncertainty, but we are well positioned from a capital, earnings and risk perspective to take advantage of opportunities as they arise.