Pacific Premier Bancorp Inc

Latest Results (28.02.2026):

Pacific Premier Bancorp, Inc. — Q4 2019: In a Feb 3, 2020 press release Pacific Premier announced it will acquire Opus Bank in an all‑stock transaction that creates a pro‑forma Western U.S. bank with approximately $20 billion in assets (based on balances as of Dec. 31, 2019). The deal adds $8.0 billion of assets, $5.9 billion of gross loans and $6.5 billion of deposits from Opus, is expected to be ~14% EPS‑accretive in 2021, and targets about 25% cost savings with a 1.8‑year tangible book value earnback, subject to regulatory and shareholder approvals and a planned close in Q2 2020.

Deal terms

All‑stock transaction valued at roughly $1.0 billion (implied $26.82 per Opus share based on Pacific Premier’s Jan 31, 2020 close). Opus shareholders will receive 0.90 shares of Pacific Premier common stock per Opus share. Pro‑forma ownership is expected to be ~63% Pacific Premier / ~37% Opus.

Pro‑forma scale and footprint

Combines Pacific Premier’s ~ $11.8B (Dec. 31, 2019) with Opus’s $8.0B to reach ~ $20B in assets. The transaction increases Pacific Premier’s California deposits by ~60% to $13.0B and provides entry into the Seattle market with about $1.2B in deposits. Opus operates 46 offices across CA, WA, OR and AZ.

Expected financial impacts

Management projects ~14% EPS accretion in 2021, ~25% cost savings driving a 1.8‑year tangible book earnback. The deal is expected to add revenue diversification (fee income businesses) and bring roughly $2.0B of escrow and trust deposits at a very low blended cost (~0.10%), improving funding stability and capital generation.

Opus business highlights

Opus reported $5.9B in gross loans and $6.5B in deposits as of Dec. 31, 2019; it offers commercial lending, treasury/cash management, escrow and 1031 exchange services. Opus’s PENSCO Trust subsidiary holds about $14B of custodial IRA assets across ~46,000 client accounts.

Timing, approvals & risks

The transaction is expected to close in Q2 2020, subject to customary regulatory and shareholder approvals. Pacific Premier cautions that anticipated benefits and financial projections are forward‑looking and subject to integration, regulatory, market and execution risks.