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Sep 30, 2023
Pacific Premier Q3 2023 Earnings Report
Reported net income of $46.0 million and EPS of $0.48 per diluted share.
Key Takeaways
Pacific Premier Bancorp reported a net income of $46.0 million, or $0.48 per diluted share, for Q3 2023. The company focused on risk, liquidity, and capital management, while client deposit flows stabilized, and higher cost brokered deposits were reduced by $490 million. Asset quality remained solid, with total delinquencies at 0.08% of loans.
Net income was $46.0 million, or $0.48 per diluted share.
Return on average assets was 0.88%, return on average equity was 6.43%, and return on average tangible common equity was 10.08%.
Net interest margin was 3.12%.
Total delinquency was 0.08% of loans held for investment, and nonperforming assets to total assets was 0.13%.