Pacific Premier Q1 net income $47M; NIM 3.39%, deposits up $192M; NPAs climb to $64.1M

PACIFIC PREMIER BANCORP INC

2024-Q1 EPS reported $0.49

Net income $47.0M ($0.49 dil. EPS) vs Q4 2023 net loss $135.4M; NIM expanded 11bps to 3.39%.
Total deposits rose $192M, non-maturity deposits up $120M; FHLB borrowings reduced $400M.
Nonperforming assets reached $64.1M (0.34% of assets) from $25.1M; $37.6M single relationship current.
Quarterly dividend declared $0.33/share, payable May 13, 2024 to holders of record May 6, 2024.
Provision for credit losses $3.9M; allowance to loans held for investment 1.48% (up from 1.45%).

item 2.02 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PACIFIC PREMIER BANCORP INC reported first quarter of 2024 results: net income $47.0 million, EPS $0.49 per diluted share.

Period: first quarter of 2024
Net income: $47.0 million
EPS: $0.49 per diluted share
Result: reported results

Exact text from the filing

Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company” or “Pacific Premier”), the holding company of Pacific Premier Bank (the “Bank”), reported net income of $47.0 million, or $0.49 per diluted share, for the first quarter of 2024

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Source: SEC EDGAR

accession 0001028918-24-000079

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