Pacific Premier reports Q1 EPS 49c, consensus 47c

Reports Q1 revenue $165.83M, consensus $149.35M. Reports Q1 CET1 capital ratio 15.02%. Reports Q1 tangible book value per share $20.33. Steven Gardner, chairman, CEO, and president of the company, commented, “Our team delivered solid first quarter financial performance with net income of $47.0 million, or $0.49 per share, reflecting a full quarter’s benefit from the securities portfolio repositioning as our net interest margin expanded 11 basis points to 3.39%. Our commitment to prudent and proactive risk, liquidity, and capital management in the current dynamic environment continues to drive strong capital levels that rank amongst the top of our peers, with our TCE(1) ratio increasing 25 basis points to 10.97%.”