Pacific Premier Bancorp to Acquire San Diego Trust Bank For $13.41/Share in Cash

Pacific Premier Bancorp PPBI today announced that it has entered into a definitive agreement to acquire San Diego Trust Bank SDBK, a San Diego, California, based state-chartered bank with $242.0 million in total assets and $187.9 million in total deposits at December 31, 2012. This transaction will expand Pacific Premier's banking footprint into San Diego County and is expected to further improve Pacific Premier's deposit mix. Steven R. Gardner, President and Chief Executive Officer of Pacific Premier commented, “This is an attractive opportunity for us to expand into the San Diego marketplace with the acquisition of San Diego Trust Bank, one of the top performing community banks See full press release