Pacific Premier Bancorp, Inc. is an American bankholding company under the Bank Holding Company Act of 1956 headquartered in Irvine, California, US.[3][4] Its principal business focuses on Pacific Premier Bank, which offers a range of financial services to individuals, businesses, and professionals. The bank operates numerous branches in California, Arizona, Nevada, and Washington.[5]
Pacific Premier Bank also offers commercial escrow services and facilitates 1031 exchange transactions through its Commerce Escrow division.[1][6]
History
Foundation
Pacific Premier Bank was originated from Life Bank and founded in 1983.[7]
In 1991, the bank became a federally chartered stock savings bank.[8] In 1997 Pacific Premier Bancorp, Inc. was formed as a banking holding company.[1]
In 2011, Pacific Premier Bank completed the acquisition of Canyon National Bank.[7] On April 27, 2012, the Company completed the acquisition of Palm Desert National Bank.[9] On March 15, 2013, the company acquired First Associations Bank, a Texas-chartered bank headquartered in Dallas, Texas.[10] On June 25, 2013, Pacific Premier Bancorp acquired San Diego Trust Bank.[11][12]
On November 18, 2013, the company acquired Infinity Franchise Holdings with a price estimated to be approximately $16 million.[13] In October 2014, it bought Independence Bank, located in Newport Beach, for $71.5 million.[14]
In April 2017, the company bought Heritage Oaks Bancorp.[15][16] In 2018, it acquired the holding company of Grandpoint Bank Grandpoint Capital, Regents Bank, and the Biltmore Bank of Arizona with approximately $3.2 billion in total assets.[17]
In 2020, the bank bought Opus Bank with approximately $8 billion in total assets, along with its divisions PENSCO Trust Company (now Pacific Premier Trust) and Commerce Escrow.[18][19][20]
