Market Overview

Pacific Premier Bancorp Completes Acquisition of San Diego Trust Bank

Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company”), the
holding company of Pacific Premier Bank (the “Bank”), announced that it
has completed the acquisition of San Diego Trust Bank (“SDTB”), a San
Diego based state-chartered bank. The acquisition was completed as of
the close of business on June 25, 2013.

Under the terms of the merger agreement, each share of SDTB common stock
was converted into the right to receive $13.41 per share in cash or
1.114x shares of Company common stock, or a combination thereof, subject
to the overall requirement that 50% of the consideration will be in the
form of cash and 50% will be in the form of Company common stock. The
value of the total deal consideration

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

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