Pacific Premier Bancorp, Inc. reported its financial results for the second quarter of 2025, revealing a net income of $32.1 million, or $0.33 per diluted share, a decrease from $36.0 million, or $0.37 per diluted share in the previous quarter. The decline in profitability was attributed to a $4.1 million increase in noninterest expenses, primarily due to merger-related costs of $6.7 million associated with the pending merger with Columbia Banking System. Additionally, net interest income fell by $9.6 million year-over-year, reflecting lower average interest-earning asset balances and yields.
Total assets for the company decreased to $17.78 billion as of June 30, 2025, down from $17.90 billion at the end of 2024. This decline was primarily driven by a $139.2 million reduction in total loans and a $125.4 million decrease in investment securities, although cash and cash equivalents increased by $181.8 million. Total liabilities also fell to $14.81 billion, a decrease of $140.1 million, largely due to a reduction in subordinated debentures following the early redemption of $150 million in subordinated notes.
In terms of operational metrics, the company’s loan portfolio stood at $11.90 billion, a slight decrease from $12.04 billion at the end of 2024. The composition of loans included $7.67 billion in investor loans secured by real estate and $2.18 billion in business loans secured by real estate. The allowance for credit losses (ACL) for loans held for investment was $170.7 million, representing 1.43% of total loans, a decrease from 1.48% at the end of 2024. Nonperforming loans totaled $26.3 million, or 0.22% of loans held for investment, down from $28.0 million at the end of the previous year.
Looking ahead, Pacific Premier Bancorp is focused on enhancing its loan origination efforts and maintaining a strong capital position. The company has a robust liquidity profile, with $791.1 million in cash and cash equivalents and significant unused borrowing capacity of $9.15 billion. The anticipated merger with Columbia is expected to close in the second half of 2025, which management believes will provide additional growth opportunities and operational efficiencies. The company remains committed to prudent credit risk management and is well-positioned to navigate potential economic challenges.
About PACIFIC PREMIER BANCORP INC
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.