Pacific Premier Bank is a state-chartered commercial bank headquartered in Irvine, CA. We serve businesses from ten locations throughout Southern California including ten depository branches in Irvine, Huntington Beach, Los Alamitos, Newport Beach, San Bernardino, Seal Beach, Palm Desert—Country Club, Palm Desert—El Paseo, Palm Springs- Tahquitz, and Palm Springs-Smoke Tree. 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.
We did not utilize government assistance in the form of TARP funds.
Actively raised sufficient capital for the purpose of acquiring other banking institutions.
Pacific Premier Bank acquires Canyon National Bank, including three full service depository branches, located in Palm Springs and Palm Desert, California. The acquisition increases Pacific Premier’s footprint and branch network to 9 locations across Southern California.
Pacific Premier Bank is pleased to announce its inclusion in the annual Sandler O’Neill + Partners Sm-All Stars: Class of 2011. The class lists top performing publicly traded small- cap banks and thrifts in the nation. Of the 486 banks and thrifts with a market cap of less than $2 Billion, Pacific Premier was one of only 25 selected for the 2011 Sm-All Stars List.
Pacific Premier Bank acquires Palm Desert National Bank, located in Palm Desert, California. The acquisition increases Pacific Premier’s footprint and branch network to 10 locations across Southern California