- Pacific Premier Bancorp, Inc. (PPBI, Financial) reported a net income of $36.0 million for Q1 2025, equating to $0.37 per diluted share.
- The company's net interest margin improved to 3.06% as the average cost of deposits decreased by 14 basis points to 1.65%.
- A quarterly cash dividend of $0.33 per share was declared for shareholders.
Pacific Premier Bancorp, Inc. (PPBI) announced its financial results for the first quarter of 2025, revealing a net income of $36.0 million, or $0.37 per diluted share. This represents an increase from the fourth quarter of 2024, which saw a net income of $33.9 million, or $0.35 per diluted share, but a decrease from the first quarter of 2024, which had a net income of $47.0 million, or $0.49 per diluted share.
The company's return on average assets (ROAA) stood at 0.80%, with a return on average equity (ROAE) of 4.87% and a return on average tangible common equity (ROATCE) of 7.48%. The expansion in the net interest margin to 3.06% was primarily influenced by a reduction in the cost of deposits, which decreased to 1.65%.
Notably, Pacific Premier Bancorp saw an increase in its non-maturity deposits by $247 million to $12.60 billion, which now comprises 85.9% of total deposits. Non-interest bearing deposits expanded significantly by $210.1 million to reach $4.83 billion, or 32.9% of total deposits.
The company's asset quality remained strong, with total delinquency of 0.02% of loans held for investment and nonperforming assets at 0.15% of total assets. The tangible book value per share saw an increase to $20.98, and the common equity tier 1 capital ratio was robust at 16.99%.
With a focus on maintaining strong capital levels, Pacific Premier declared a quarterly cash dividend of $0.33 per share. Looking ahead, the company continues to emphasize risk management and strategic growth to enhance shareholder value.
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