About Us
Company Profile
Pacific Premier Bank is a state-chartered commercial bank headquartered in Costa Mesa, California. We serve businesses from six locations throughout Southern California including six depository branches in Costa Mesa, Huntington Beach, Los Alamitos, Newport Beach, San Bernardino, and Seal Beach as well as an SBA loan production office in Costa Mesa. Through our branches and our web site we offer a full complement of deposit and loan products and services for commercial businesses, non-profit organizations, and consumers. We offer our customers an alternative to the impersonal service experienced at the large regional and national banks.
A Timeline of Key Events in Pacific Premier Bank's Evolution
Pacific Premier Bank (originally Life Bank) was founded in 1983.
Began expansion into nationwide subprime lending in 1993. By 1999 the aggressive underwriting of subprime mortgage loans resulted in losses and closer regulatory oversight that prompted a move to refocus the Bank back to more traditional banking services.
In the fourth quarter of 2000, the Bank brought in the current management team who developed a 3-phase strategic plan with the end goal to transform the Bank from a nationwide sub-prime lender to a community banking business model.
From 2002 to 2004, the Bank effected the first two phases of the transition plan: Phase 1 - lowering the risk profile of the bank and recapitalizing the company, and Phase 2 - growing the balance sheet at an accelerated rate and returning the Bank to sustainable earnings.
Raised $27 million of additional equity through a highly successful secondary stock offering in the fourth quarter of 2003.
The success of the Bank's turnaround plan was noticed by investors who drove up Pacific Premier Bank's stock by 546% in a 3-year period from 2002 to 2004.
In 2004, Pacific Premier Bank entered the final phase of the transition plan - a full transformation to a community banking model.
In 2005, U.S. Banker ranked Pacific Premier Bank #5 in its list of "Top 200 Publicly Traded Community Banks" (assets up to $1 billion, ranked by 3-year average ROE).
Opened new full service depository branches in Costa Mesa, Huntington Beach, and Los Alamitos in 2006.
Opened our sixth new branch in Newport Beach serving the communities of Irvine, Newport Beach, and Newport Coast in 2007.
