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Jun 30, 2024
Pacific Premier Q2 2024 Earnings Report
Reported solid financial results driven by disciplined balance sheet and risk management.
Key Takeaways
Pacific Premier Bancorp reported a net income of $41.9 million, or $0.43 per diluted share, for the second quarter of 2024. The company's TCE and tier 1 common equity ratios increased to 11.41% and 15.89%, respectively. Second quarter loan production increased to $150.7 million.
Net income of $41.9 million, or $0.43 per diluted share.
Return on average assets of 0.90%.
Net interest margin of 3.26%.
Nonperforming assets to total assets of 0.28%.
Pacific Premier
Pacific Premier
Forward Guidance
The company expects stabilization in loan and deposit balances as we move through the rest of the year.
Positive Outlook
- Strong capital levels
- Strong liquidity levels
- Positions well to take advantage of opportunities
- Drive future earnings growth
- Focus on building long-term franchise value