KBRA Comments on Pacific Premier Bancorp, Inc.’s Acquisition of Grandpoint Capital, Inc.
February 12, 2018
NEW YORK--(BUSINESS WIRE)--Irvine, California based Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) signed a definitive agreement to acquire Los Angeles, California based Grandpoint Capital, Inc. (OTC:GPNC) (“Grandpoint”). The merger is an all-stock transaction with a price to tangible equity of 212%. The transaction is sizable, adding $3.2 billion of assets, and $2.4 billion of loans and deposits to PPBI’s balance sheet. The merger is expected to close in the third quarter of 2018 and should resul