Pacific Premier Bank Awarded $1.16 Million by the Federal Home Loan Bank of San Francisco to Assist Low- to Moderate-Income H...
June 20 2017 - 9:00AM
Business Wire
Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding
company of Pacific Premier Bank, announced that the Bank has been
awarded three grants totaling $1.16 million through the Federal
Home Loan Bank of San Francisco’s (“FHLBSF”) Affordable Housing
Program (“AHP”). Pacific Premier Bank will use the grants to help
develop three separate low- to moderate-income housing projects
within the communities it serves.
The grants were awarded to Pacific Premier Bank as part of an
initiative to create rental and/or homeownership opportunities for
lower-income households. These awards will help Pacific Premier
Bank facilitate the development of 85 new housing units,
including:
- a 12-unit rehabilitated housing
development serving senior and chronically homeless U.S. military
veterans in Newport Beach, California
- a 39-unit housing development serving
U.S. military veterans in Vacaville, California; and
- a 34-unit revitalization project which
will assist residence of San Luis Obispo, California dealing with
chronic mental illness.
“We are honored that the Federal Home Loan Bank of San Francisco
has awarded us these funds to allow us to help create affordable
housing for low- and moderate-income individuals in the communities
Pacific Premier Bank serves,” said Steven R. Gardner, Chairman,
President and CEO of Pacific Premier Bancorp, Inc. “We have a
strong commitment to these communities, as evidenced by the time
and effort we dedicated to pursuing these competitive grants. We
look forward to deploying funds to support these important projects
in Newport Beach, Vacaville and San Luis Obispo.”
About Pacific Premier Bancorp, Inc.
Pacific Premier Bancorp, Inc. is the holding company for Pacific
Premier Bank, one of the largest banks headquartered in Southern
California with approximately $6 billion in assets. Pacific Premier
Bank is a business bank primarily focused on serving small and
middle market businesses in the counties of Orange, Los Angeles,
Riverside, San Bernardino, San Diego, San Luis Obispo, and Santa
Barbara, California. Through its more than 25 depository branches,
Pacific Premier Bank offers a diverse range of lending products
including commercial, commercial real estate, construction and SBA
loans, as well as specialty banking products for homeowners
associations and franchise lending nationwide.
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version on businesswire.com: http://www.businesswire.com/news/home/20170620005855/en/
Pacific Premier Bancorp, Inc.Steven R. Gardner,
949-864-8000Chairman, President and Chief Executive OfficerorRonald
J. Nicolas, Jr., 949-864-8000Senior Executive Vice President &
Chief Financial Officer
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