Pacific Premier Bancorp, Inc. Announces Expansion of Senior Management Team
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company”), the
holding company of Pacific Premier Bank (the “Bank”), announced today
the following personnel changes, which are designed to strengthen and
expand the Company’s senior management team and position the franchise
for continued growth:
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Mark Whalen has joined the company as Senior Vice President and Chief
Lending Officer
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Edward “Eddie” Wilcox has been promoted from Executive Vice President
and Chief Banking Officer to Executive Vice President and Chief
Operating Officer
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Tom Rice has been promoted from Senior Vice President and Chief
Information Officer to Executive Vice President and Enterprise Risk
Manager
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Teresa Dawson has been promoted from First Vice President and Branch
Operations Manager to Senior Vice President and Director of Branch
Banking
“The personnel moves announced today reflect the growth and evolving
responsibilities of our senior management team as our franchise
continues to grow in scale, diversity and complexity,” said Steven R.
Gardner, President and Chief Executive Officer of the Company. “Mark
Whalen brings 30 plus years of banking experience to Pacific Premier
Bank, with the majority of that time being spent in management positions
at large financial institutions, such as First Interstate Bank of
California, Finova Capital and East West Bank. He has spent nearly his
entire career working in the Southern California market and his superior
knowledge and understanding of this market will be a valuable addition
as we continue to pursue additional business with larger clients.”
“Eddie Wilcox has been a key member of our senior management team since
2003 and has played an integral role in the transformation of the Bank.
Eddie’s promotion to Chief Operating Officer will expand his oversight
to all of the day-to-day operations of the Bank. Tom Rice has overseen
our technology and security functions since 2008 and led the smooth
systems conversions and integrations of our last two acquisitions. With
his experience as a founding partner at Compushare where he oversaw the
company’s expansion and several system conversions of his banking
clients, Tom is ideally suited to the position of Enterprise Risk
Manager, where he will be responsible for management of our enterprise
risk. Teresa Dawson has proven to be a highly effective leader since
joining us in 2011, and as Director of Branch Banking she will ensure
that our retail branches and cash management team continue to provide an
efficient and rewarding experience for our customers.”
“Collectively, these personnel moves provide our senior management team
with the depth and breadth of experience, expertise and skill set
necessary to effectively manage the Company as we continue to grow
organically and capitalize on additional attractive acquisition
opportunities,” concluded Mr. Gardner.
About Pacific Premier Bancorp, Inc.
The Company owns all of the capital stock of the Bank. The Bank provides
business and consumer banking products to its customers through our ten
full-service depository branches in Southern California located in the
cities of Huntington Beach, Irvine, Los Alamitos, Newport Beach, Palm
Desert, Palm Springs, San Bernardino and Seal Beach.
Forward-Looking Statements
The statements contained herein that are not historical facts are
forward-looking statements based on management's current expectations
and beliefs concerning future developments and their potential effects
on the Company. Such statements involve inherent risks and
uncertainties, many of which are difficult to predict and are generally
beyond the control of the Company. There can be no assurance that future
developments affecting the Company will be the same as those anticipated
by management. The Company cautions readers that a number of important
factors could cause actual results to differ materially from those
expressed in, or implied or projected by, such forward-looking
statements. These risks and uncertainties include, but are not limited
to, the following: the strength of the United States economy in general
and the strength of the local economies in which the Company conducts
operations; the effects of, and changes in, trade, monetary and fiscal
policies and laws, including interest rate policies of the Board of
Governors of the Federal Reserve System; inflation, interest rate,
market and monetary fluctuations; the timely development of competitive
new products and services and the acceptance of these products and
services by new and existing customers; the willingness of users to
substitute competitors’ products and services for the Company’s products
and services; the impact of changes in financial services policies, laws
and regulations; technological changes; the effect of acquisitions that
the Company may make, if any, including, without limitation, the failure
to achieve the expected revenue growth and/or expense savings from such
acquisitions; changes in the level of the Company’s nonperforming assets
and charge-offs; oversupply of inventory and continued deterioration in
values of California real estate, both residential and commercial; the
effect of changes in accounting policies and practices, as may be
adopted from time-to-time by bank regulatory agencies, the Securities
and Exchange Commission, the Public Company Accounting Oversight Board,
the Financial Accounting Standards Board or other accounting standards
setters; possible other-than-temporary impairments of securities held by
the Company; the impact of current governmental efforts to restructure
the U.S. financial regulatory system; changes in consumer spending,
borrowing and savings habits; the effects of the Company’s lack of a
diversified loan portfolio, including the risks of geographic and
industry concentrations; ability to attract deposits and other sources
of liquidity; changes in the financial performance and/or condition of
the Company’s borrowers; changes in the competitive environment among
financial and bank holding companies and other financial service
providers; unanticipated regulatory or judicial proceedings; and the
Company’s ability to manage the risks involved in the foregoing.
The Company specifically disclaims any obligation to update any factors
or to publicly announce the result of revisions to any of the
forward-looking statements included herein to reflect future events or
developments.