Pacific Premier Bancorp: 4Q Earnings Snapshot
IRVINE, Calif. (AP) _ Pacific Premier Bancorp Inc. (PPBI) on Tuesday reported fourth-quarter net income of $39.6 million.
The Irvine, California-based company said it had profit of 63 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 66 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The holding company for Pacific Premier Bank posted revenue of $143 million in the period. Its adjusted revenue was $124.5 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $122 million.
For the year, the company reported profit of $123.3 million, or $2.26 per share. Revenue was reported as $423.7 million.
Pacific Premier Bancorp shares have increased 17 percent since the beginning of the year. The stock has dropped 28 percent in the last 12 months.