Pacific Premier Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest income of $85,684,000 against $45,797,000 a year ago. Net interest income before provision for loan losses was $78,170,000 against $42,304,000 a year ago. Net interest income after provision for loan losses was $75,985,000 against $40,250,000 a year ago. Net income before income taxes was $35,541,000 against $19,191,000 a year ago. Net income was $16,171,000 against $11,953,000 a year ago. Diluted earnings per share was $0.36 against $0.43 a year ago. Return on average equity was 5.57% against 10.43% a year ago. Return on average tangible common equity was 10.48% against 14.17% a year ago. Return on average assets was 0.87% against 1.24% a year ago. Total revenues increased $15.1 million to $87.6 million. This increase included 2 months of Plaza's operations, which totaled $11 million in revenue, $2 million in higher accretion income as well as $1 million in higher noninterest income.

For the year, the company reported total interest income of $270,005,000 against $166,605,000 a year ago. Net interest income before provision for loan losses was $247,502,000 against $153,075,000 a year ago. Net interest income after provision for loan losses was $238,862,000 against $144,299,000 a year ago. Net income before income taxes was $102,226,000 against $65,318,000 a year ago. Net income was $60,100,000 against $40,103,000 a year ago. Diluted earnings per share was $1.56 against $1.46 a year ago. Book value per share as at December 31, 2017 was $26.86 against $16.54 as at December 31, 2016. Tangible book value per share as at December 31, 2017 was $15.26 against $12.51 as at December 31, 2016.

For the quarter, the company reported net loan charge-offs of $392,000 against $2,601,000 a year ago.

The company expects the estimated full year effective tax rate to be approximately 26% to 28% with the first quarter slightly lower, benefiting disproportionately from the tax deductibility of equity stock vesting costs.