Pacific Premier reports Q3 EPS 48c, consensus 55c

Reports Q3 CET1 capital ratio 14.87%. Reports Q3 tangible book value per share $19.89. Steven Gardner, chairman, CEO, and president of the company, commented, “Our teams continue to deliver solid results in a challenging economic and interest rate environment. We maintained our disciplined focus on prudent and proactive risk, liquidity, and capital management during the quarter. Our relationship managers’ extraordinary efforts to deepen existing client relationships and bring new clients into our franchise are producing tangible results. During the quarter, client deposit flows further stabilized in the face of significant pricing competition, and we were able to reduce higher cost brokered deposits by $490 million.”