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Pacific Premier shareholders approve stock issuance for Grandpoint deal

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Pacific Premier shareholders approve stock issuance for Grandpoint deal

Pacific Premier Bancorp Inc. shareholders approved the issuance of the company's common shares in connection with the bank's planned merger with Grandpoint Capital Inc.

Shareholders approved the common stock issuance during a special stockholder meeting May 21. In addition, Grandpoint's stockholders approved the proposed transaction by written consent.

The deal is still subject to necessary bank regulatory approvals and customary closing conditions.