Exhibit 99.1
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018"> |
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Super Community Bank Conference
September 8, 2005
Steven R. Gardner
President & CEO
The statements contained herein that are not historical facts are forward looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties. These include, but are not limited to, the following risks: (1) changes in the performance of the financial markets, (2) changes in the demand for and market acceptance of the Company’s products and services, (3) changes in general economic conditions including interest rates, presence of competitors with greater financial resources, and the impact of competitive projects and pricing, (4) the effect of the Company’s policies, (5) the continued availability of adequate funding sources, and (6) various legal, regulatory and litigation risks.
Southern California Community Bank
Data as of 6/30/05
• | NASDAQ National Market | PPBI |
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• | Assets | $634 million |
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• | Fully diluted shares | 6,558,718 |
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• | Fully diluted BV | $7.60 |
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• | Annualized ROAA | 1.38% |
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• | Annualized ROAE | 17.54% |
• | Community bank business model |
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• | Exceptional growth being realized |
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• | Experienced management - proven track record |
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• | Favorable relative valuation |
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• | Innovative, creative, energetic employee base |
Name (Age) |
| Position |
| Years of |
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Steven Gardner (44) |
| President & Chief Executive Officer |
| 21 |
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John Shindler (50) |
| EVP/Chief Financial Officer |
| 28 |
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Eddie Wilcox (38) |
| EVP/Chief Lending Officer |
| 16 |
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Bruce Larson (47) |
| SVP/Chief Credit Officer |
| 21 |
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Kathi Duncan (48) |
| SVP/Director of Operations |
| 24 |
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Jim Sanchez (42) |
| SVP/Director of Information Technology |
| 21 |
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Robert Johnson (61) |
| Director of Internal Audit |
| 33 |
[GRAPHIC APPEARS HERE]
[GRAPHIC APPEARS HERE]
[GRAPHIC APPEARS HERE]
[GRAPHIC APPEARS HERE]
[CHART APPEARS HERE]
[CHART APPEARS HERE]
[CHART APPEARS HERE]
[CHART APPEARS HERE]
Multifamily |
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Loan to Value |
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| 65.45 |
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Debt Coverage Ratio |
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| 1.28 |
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Average Balance |
| $ | 750,954 |
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Commercial |
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Loan to Value |
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| 63.27 |
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Debt Coverage Ratio |
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| 1.38 |
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Average Balance |
| $ | 1,021,316 |
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Data as of June 30, 2005
As of June 30, 2005
Nonaccrual |
| Nationwide (1) |
| Western |
| PPBI |
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Multi-Family |
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| 0.08 | % |
| 0.02 | % |
| 0.00 | % |
Commercial |
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| 0.63 | % |
| 0.67 | % |
| 0.00 | % |
Single Family |
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| 0.44 | % |
| 0.45 | % |
| 0.24 | % |
(1) | Source: Office of Thrift Supervision |
[CHART APPEARS HERE]
[CHART APPEARS HERE]
[CHART APPEARS HERE]
[CHART APPEARS HERE]
[GRAPHIC APPEARS HERE]
• | Strong Economic Growth |
– Employment |
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| +1.7 | % | (*) |
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– Personal Income |
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| +5.7 | % | (*) |
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– Population |
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| +1.5 | % | (*) |
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• | Business Expansion |
– Small Business Expansion |
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– Low Commercial Vacancy Rates |
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– Commercial property growth |
* | 2006 Forecast |
Sources: Marcus & Millichap 2005 Real Estate Investment Oulook, Friedman Billings Ramsey California Dreamin’ 8/30/05, National Association of Realtors, Wells Fargo Economics California Report Southern California.
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| As of |
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| 6/30/2005 |
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| 12/31/2004 |
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| 12/31/2003 |
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| 12/31/2002 |
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| 12/31/2001 |
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Assets: |
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Cash and Investments |
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| 69,068 |
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| 60,847 |
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| 44,715 |
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| 61,833 |
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| 42,365 |
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Loans, net |
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| 552,537 |
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| 470,354 |
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| 247,600 |
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| 158,231 |
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| 187,176 |
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Other Assets |
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| 12,864 |
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| 11,923 |
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| 17,053 |
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| 18,214 |
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| 14,126 |
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Total Assets |
| $ | 634,469 |
| $ | 543,124 |
| $ | 309,368 |
| $ | 238,278 |
| $ | 243,667 |
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Liabilities: |
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Deposits |
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| 297,766 |
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| 288,887 |
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| 221,447 |
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| 191,170 |
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| 232,160 |
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Borrowings |
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| 284,736 |
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| 206,710 |
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| 48,600 |
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| 32,940 |
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| 1,500 |
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Other Liabilities |
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| 4,394 |
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| 3,499 |
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| 1,989 |
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| 2,545 |
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| 2,359 |
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Total Liabilities |
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| 586,896 |
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| 499,096 |
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| 272,036 |
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| 226,655 |
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| 236,019 |
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Stockholders’ Equity |
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| 47,573 |
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| 44,028 |
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| 37,332 |
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| 11,623 |
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| 7,648 |
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Total Liabilities and Stockholders’ Equity |
| $ | 634,469 |
| $ | 543,124 |
| $ | 309,368 |
| $ | 238,278 |
| $ | 243,667 |
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Fully Diluted Book Value per share |
| $ | 7.60 |
| $ | 7.08 |
| $ | 5.98 |
| $ | 4.98 |
| $ | 5.73 |
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| 6 Months |
| 12 Months Ended |
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| 6/30/2005 |
| 12/31/2004 |
| 12/31/2003 |
| 12/31/2002 |
| 12/31/2001 |
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Interest Income |
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Loans |
| $ | 14,355 |
| $ | 19,719 |
| $ | 12,366 |
| $ | 12,345 |
| $ | 21,973 |
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Other Int. Earning Assets |
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| 912 |
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| 3,504 |
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| 4,882 |
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| 6,527 |
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| 2,469 |
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Total Interest Income |
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| 15,267 |
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| 23,223 |
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| 17,248 |
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| 18,872 |
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| 24,442 |
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Interest Expense |
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Deposits |
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| 3,591 |
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| 5,482 |
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| 4,954 |
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| 6,314 |
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| 14,989 |
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Borrowings |
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| 3,298 |
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| 2,335 |
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| 2,703 |
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| 2,596 |
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| 1,202 |
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Total Interest Expense |
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| 6,889 |
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| 7,817 |
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| 7,657 |
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| 8,910 |
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| 16,191 |
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Net Int. Inc. Before Provision |
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| 8,378 |
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| 15,406 |
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| 9,591 |
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| 9,962 |
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| 8,251 |
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Provision for Loan Losses |
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| 235 |
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| 705 |
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| 655 |
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| 1,133 |
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| 3,313 |
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Non Interest Income |
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| 1,906 |
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| 4,246 |
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| 2,315 |
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| 1,869 |
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| 3,992 |
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Non Interest Expense |
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| 5,703 |
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| 11,234 |
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| 9,783 |
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| 10,165 |
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| 14,340 |
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Income Before Taxes |
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| 4,346 |
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| 7,713 |
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| 1,468 |
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| 533 |
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| (5,410 | ) |
Inc. Tax Provision/(Benefit) |
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| 658 |
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| 972 |
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| (597 | ) |
| (2,345 | ) |
| 642 |
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Net Income |
| $ | 3,688 |
| $ | 6,741 |
| $ | 2,065 |
| $ | 2,878 |
| $ | (6,052 | ) |
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Basic Earnings/(Loss) per Share |
| $ | 0.70 |
| $ | 1.28 |
| $ | 0.96 |
| $ | 2.16 |
| $ | (4.54 | ) |
Diluted Earnings/(Loss) per Share |
| $ | 0.56 |
| $ | 1.02 |
| $ | 0.61 |
| $ | 1.16 |
| $ | (4.54 | ) |
Attractive Valuation relative to California Peers:
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| P/EPS |
| P/TBV |
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CA Banks* |
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| 18.0 | x |
| 293 | % |
PPBI Metrics* |
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| 13.1 | x |
| 159 | % |
PPBI Asset CAGR |
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| 23.3 | %** |
PPBI EPS CAGR |
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| 18.0 | %** |
* | As of 8/24/05 |
** | Since 3/31/2002 |
[GRAPHIC APPEARS HERE]
• | Carpenter & Company 2004 Market Cap |
| Champion - 3 yr. stock appreciation |
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• | US Banker – ranked 5th out of 200 publicly traded community banks – 3 yr. ROE |
Trust, Service, Commitment…That’s my Bank.