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Dec 31, 2020
Pacific Premier Q4 2020 Earnings Report
Pacific Premier's financial performance was strong, marked by increased net income and strategic capital management.
Key Takeaways
Pacific Premier Bancorp reported a net income of $67.1 million for Q4 2020, with a return on average assets of 1.34% and an increased quarterly cash dividend to $0.30 per share. The company also approved a new $150 million share repurchase program.
Net income reached $67.1 million, or $0.71 per diluted share.
Return on average assets was 1.34%, return on average equity was 9.91%, and return on average tangible common equity was 16.32%.
Net interest margin stood at 3.61%, with a core net interest margin of 3.32%.
The company increased its common equity quarterly dividend by $0.02 to $0.30 per share and approved a new $150 million share repurchase program.
Pacific Premier
Pacific Premier
Forward Guidance
Pacific Premier is well-positioned to manage through the impact of the ongoing pandemic and capitalize on the economic recovery. They expect increasing levels of organic growth in their various markets and will continue to pursue strategic growth opportunities that can expand and enhance their franchise.
Positive Outlook
- Well-positioned to manage through the impact of the ongoing pandemic
- Capitalize on the economic recovery
- Expect increasing levels of organic growth in various markets
- Continue to pursue strategic growth opportunities
- Investments in talent and technology to create a robust, highly scalable platform
Challenges Ahead
- Ongoing pandemic impact
- Deterioration in general business and economic conditions
- Turbulence in domestic or global financial markets
- Changes to statutes, regulations, or regulatory policies
- Uncertainty regarding potential alternative reference rates, including SOFR