Pacific Premier Bancorp (PPBI) Tops Q4 EPS by 4c

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Go back to Pacific Premier Bancorp (PPBI) Tops Q4 EPS by 4c

Pacific Premier Bancorp, Inc. Announces Fourth Quarter 2023 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share

January 29, 2024 6:01 AM EST

Fourth Quarter 2023 Summary

Net loss of $135.4 million, or $1.44 per diluted share; adjusted net income of $48.4 million, or $0.51 per diluted share(1) Sold $1.26 billion of available-for-sale securities for a net after-tax loss of $182.3 million, repositioning the balance sheet Net interest margin expanded 16 basis points to 3.28% Cost of deposits of 1.56%, and cost of non-maturity deposits(1) of 1.02% Non-maturity deposits increased to 84.7% of total deposits Reduced $617.0 million in higher cost brokered certificates of deposit and $200.0 million in FHLB borrowings during the... More