Pacific Premier Bancorp Acquires Infinity Franchise Holdings for $16M

Pacific Premier Bancorp

announced today that it has entered into a definitive agreement to acquire privately held Infinity Franchise Holdings, LLC (IFH) and its wholly owned operating subsidiary Infinity Franchise Capital, LLC (IFC), a national lender to franchisees in the quick service restaurant (QSR) industry, and other direct and indirect subsidiaries of IFH utilized in its business. At October 31, 2013, IFC had approximately $79 million in loan commitments and $75 million in loans outstanding with no delinquent loans or adversely classified assets. The equity purchase price is estimated to be approximately $16 million, with 50% of the consideration to be paid