PacificPremier Bancorp Inc. intends to consolidate three branches of itsIrvine, Calif.-based unit, Pacific Premier Bank, as part of a branch networkoptimization strategy.
The bank's Seal Beach and Point Loma branches in San Diego,Calif., are expected to be closed July 29. The closure of Pacific PremierBank's Smoke Tree branch in Palm Springs, Calif., is expected to take place Aug.5. In a May 2 news release, Pacific Premier Bancorp noted that customers willbe able to use a different Pacific Premier Bank branch located within fivemiles of the former branch.
Most of the personnel from the impacted branches willtransfer to nearby branches. After the consolidation efforts, Pacific PremierBank will have 16 branches serving customers throughout Southern California.
Pacific Premier Bancorp expects to incur a pretax charge ofabout $200,000 during the third quarter related to the branch consolidations.Projected savings are anticipated to be approximately $800,000 per year on apretax basis.