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Acquisition

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Pacific Premier Bank Acquires Palm Desert National Bank as Tenth Location to Serve its Customers

May 02, 2012
 
Acquiree : Palm Desert National Bank
Acquirer : Pacific Premier Bank
Domain : Commercial
Company's Region : North America
Merging Company's Region : North America
Deal Notes :

Pacific Premier Bank has acquired Palm Desert National Bank as the tenth location to serve its customers. As per agreement, Pacific Premier Bank will not inherit any liabilities or assets of the Palm Desert National Bank. But, the staff at Palm Desert National Bank will be retained and the working hours will be unchanged.  Moreover, under the Federal Deposit Insurance Corporation regulations, bank customers will be able to conduct business as earlier with regard to processing checks, online banking, automatic bill payment and other electronic banking operations.

Steven Gardner, President and Chief Executive Officer of Pacific Premier Bank, states that the acquisition offers them an excellent opportunity to expand their branch footprint and grow interest earning assets at a discount. 

   
   

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