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Jun 30, 2021
Pacific Premier Q2 2021 Earnings Report
Pacific Premier reported net income of $96.3 million, a return on average assets of 1.90%, and a quarterly cash dividend of $0.33 per share.
Key Takeaways
Pacific Premier Bancorp, Inc. reported a strong second quarter of 2021, with net income of $96.3 million, or $1.01 per diluted share. The company saw growth in tangible book value, a solid net interest margin, and a low cost of deposits. Loan production increased significantly, and asset quality remained strong.
Net income was $96.3 million, or $1.01 per diluted share.
Return on average assets was 1.90%, return on average equity was 14.02%, and return on average tangible common equity was 22.45%.
Tangible book value increased to $19.38, compared with $18.19 at March 31, 2021.
Net interest margin was 3.44% and core net interest margin was 3.22%.
Pacific Premier
Pacific Premier
Forward Guidance
While the company is seeing signs of improving demand, there continue to be uncertainties surrounding the COVID-19 pandemic. However, the company believes that it is well positioned to deliver consistent financial performance and to capitalize on stronger credit demand as the economy progresses.