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Jun 30, 2023
Pacific Premier Q2 2023 Earnings Report
Pacific Premier reported net income of $57.6 million, a decrease compared to the previous quarter and the same period last year. The company's return on average assets was 1.09%, and the net interest margin was 3.33%.
Key Takeaways
Pacific Premier Bancorp reported a solid performance in a challenging second quarter, with a focus on risk management, liquidity, and capital management. Net income was $57.6 million, or $0.60 per diluted share. The company maintained strong capital ratios and available liquidity.
Net income was $57.6 million, or $0.60 per diluted share.
Return on average assets was 1.09%, return on average equity was 8.11%, and return on average tangible common equity was 12.66%.
Net interest margin was 3.33%.
Nonperforming assets to total assets was 0.08%, and net charge-offs to average loans was 0.03%.
Pacific Premier
Pacific Premier
Forward Guidance
The Company anticipates ongoing uncertainty and industry challenges to continue until the Federal Reserve completes its cycle of tighter monetary policy. The organization remains committed to providing stability for its clients, communities, and employees while delivering long-term value for its stockholders.