Pacific Premier ( (PPBI) ) has released its Q1 earnings. Here is a breakdown of the information Pacific Premier presented to its investors.
Pacific Premier Bancorp, Inc. is a financial institution headquartered in Irvine, California, primarily engaged in providing commercial banking services across the western United States. The company offers a wide range of financial products and services, including commercial loans, deposit accounts, and treasury management services, catering to small and middle-market businesses, real estate investors, and nonprofit organizations.
In the first quarter of 2025, Pacific Premier reported a net income of $36.0 million, or $0.37 per diluted share, reflecting a slight increase from the previous quarter. The company also declared a quarterly cash dividend of $0.33 per share. The results indicate a stable financial performance with a focus on maintaining strong capital levels and improving deposit costs.
Key financial highlights for the quarter include a net interest margin expansion to 3.06% and a decrease in the average cost of deposits to 1.65%. The company saw a significant increase in non-maturity deposits, which now constitute 85.9% of total deposits. Asset quality remained robust, with nonperforming assets at 0.15% of total assets and a total delinquency rate of just 0.02% of loans held for investment.
Looking ahead, Pacific Premier’s management remains optimistic about the company’s financial health and strategic positioning. The focus on risk management and capital strength positions the company well for future growth and stability in the evolving economic landscape.