Apr. 23 at 8:53 PM
$PPBI Pacific Premier reports Q1 EPS 37c, consensus 30c
Reports Q1 revenue
$144.832M, consensus
$143.25M. Reports Q tangible book value per share
$20.98. Steven R. Gardner, Chairman, Chief Executive Officer, and President of the Company, commented, "We delivered strong financial results in the first quarter, generating net income of
$36.0 million, or
$0.37 per share. These results demonstrate our ability to build on the momentum established in the second half of 2024, reflecting non-interest income growth and lower operating expenses.
Notably, the cost of funds decreased 14 bps from the prior quarter to 1.74%, driving a four-basis point expansion in our net interest margin to 3.06%. Additionally, we maintained our strong capital levels, with our tier 1 common equity ratio at 16.99% and our total risk-based capital ratio at 20.23%, placing us among the top of our peers."
