Pacific Premier Bancorp Inc (PPBI) Financial Statements (2024 and earlier)

Company Profile

Business Address 17901 VON KARMAN AVE
IRVINE, CA 92614
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,101,249304,703880,766326,850203,406200,064
Cash and cash equivalents1,101,249304,703880,766326,850203,406200,064
Total current assets:1,101,249304,703880,766326,850203,406200,064
Noncurrent Assets
Operating lease, right-of-use asset 50,59664,00976,09043,177
Property, plant and equipment64,54371,90878,88459,00164,69153,155
Intangible assets, net (including goodwill)956,900970,883984,076891,634909,282536,343
Goodwill901,312901,312898,569808,322808,726493,329
Intangible assets, net (excluding goodwill)55,58869,57185,50783,312100,55643,014
Deferred income tax assets183,60287,34489,056 
Amortization method qualified affordable housing project investments 71,90084,00086,80053,90039,40711,582
Total noncurrent assets:1,327,5411,278,1441,314,9061,047,7121,013,380601,080
Other undisclosed assets19,259,22719,511,58217,540,87210,401,45010,270,6017,223,357
TOTAL ASSETS:21,688,01721,094,42919,736,54411,776,01211,487,3878,024,501
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      28,500
Total current liabilities:      28,500
Noncurrent Liabilities
Liabilities, other than long-term debt 15,42817,22918,07822,78513,3821,300
Deferred income tax liabilities    1,371
Qualified affordable housing project investments, commitment 15,42817,22918,07821,41413,3821,300
Total noncurrent liabilities: 15,42817,22918,07822,78513,3821,300
Other undisclosed liabilities18,874,20018,190,88916,971,8179,740,6339,504,3086,752,705
Total liabilities:18,889,62818,208,11816,989,8959,763,4189,517,6906,782,505
Equity
Equity, attributable to parent2,798,3892,886,3112,746,6492,012,5941,969,6971,241,996
Common stock933929931586617458
Additional paid in capital2,362,6632,351,2942,354,8711,594,4341,674,2741,063,974
Accumulated other comprehensive income (loss)(265,247)(7,862)60,29221,523(5,601)415
Retained earnings700,040541,950330,555396,051300,407177,149
Total equity:2,798,3892,886,3112,746,6492,012,5941,969,6971,241,996
TOTAL LIABILITIES AND EQUITY:21,688,01721,094,42919,736,54411,776,01211,487,3878,024,501

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues676,958626,461586,167492,305426,169267,019
Net investment income673,720622,033577,558485,663415,410251,027
Cost of revenue(4,832) (191,816)(5,719)(8,253)(8,640)
Provision for loan, lease, and other losses(4,832) (191,816)(5,719)(8,253)
Financial services costs(8,640)
Gross profit:672,126626,461394,351486,586417,916258,379
Operating expenses(118,747)(119,373)(158,728)(85,057)(91,507)(147,886)
Other operating income, net
(Noninterest Income, Other Operating Income)
5,36913,36012,2014,4863,64111,313
Operating income:558,748520,448247,824406,015330,050121,806
Nonoperating income
(Bank Owned Life Insurance Income)
13,15911,2997,160   
Interest and debt expense(71,466)(34,365)(56,515)(78,806)(55,712)(22,503)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (125,868)(109,456)(108,758)2,923
Income from continuing operations before equity method investments, income taxes:500,441497,38272,601217,753165,580102,226
Other undisclosed loss from continuing operations before income taxes(116,083)(36,559)    
Income from continuing operations before income taxes:384,358460,82372,601217,753165,580102,226
Income tax expense(100,615)(120,934)(12,250)(58,035)(42,240)(42,126)
Income from continuing operations:283,743339,88960,351159,718123,34060,100
Income before gain (loss) on sale of properties:339,88960,351159,718123,34060,100
Net income attributable to parent:283,743339,88960,351159,718123,34060,100
Undistributed earnings (loss) allocated to participating securities, basic (3,405)(3,517)(798)(1,650)  
Other undisclosed net loss available to common stockholders, basic      
Net income available to common stockholders, diluted:280,338336,37259,553158,068123,34060,100

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:283,743339,88960,351159,718123,34060,100
Other comprehensive loss      (231)
Comprehensive income:283,743339,88960,351159,718123,34059,869
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(257,385)(68,154)38,76927,124(6,098)3,367
Comprehensive income, net of tax, attributable to parent:26,358271,73599,120186,842117,24263,236

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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