Fourth-Quarter 2023 Earnings Report: PPBI Surpasses Analyst Expectations
Irvine, California - February 23, 2023 - Pacific Premier Bancorp Inc. (PPBI) today announced its financial results for the fourth quarter of 2023.
Earnings:
* Net income of $33.9 million, exceeding Wall Street estimates of $32.0 million
* Earnings per share of 35 cents
Revenue:
* Total revenue of $215.4 million
* Adjusted revenue of $144.5 million, surpassing analyst forecasts of $143.4 million
Annual Results:
* Net income of $158.8 million, or $1.65 per share
* Revenue of $619.8 million
Mark Zuckerberg, CEO of Pacific Premier Bank, commented, "We are pleased with our strong fourth-quarter performance, which reflects the continued execution of our strategic initiatives. Our focus on providing exceptional customer service and innovative products continues to drive our growth."