Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company”), the holding company of Pacific Premier Bank (the “Bank”), today announced that Dori L. Kagan, CMCA®, CCAM®-Emeritus, and Michael A. Abalos have joined the Bank’s Premier Property Banking Unit. The Premier Property Banking Unit focuses exclusively on generating business banking relationships and servicing the specialized banking needs of property management companies, homeowners associations (“HOA”), HOA management companies and their respective clients.
Ms. Kagan and Mr. Abalos will each serve as a Vice President/Relationship Manager in the Premier Property Banking Unit, with responsibility for originating and managing property management, HOA and HOA management company loan and depository relationships. Ms. Kagan is based in Irvine and will focus on the Southern California market, while Mr. Abalos is based in Scottsdale and will focus on the Arizona market.
“The acquisition of First Associations Bank provided us with a strong national presence in the HOA market, which we believe presents significant growth potential,” said Steven R. Gardner, President and Chief Executive Officer of the Bank. “The addition of Dori and Michael will enable us to leverage our HOA service platform by pursuing additional growth opportunities in the California and Arizona HOA markets. Collectively, Dori and Michael have more than 40 years of experience in the HOA and property management markets, and their understanding of the unique needs of this industry will be an enormous benefit to our clients.”
Mr. Gardner concluded his comments, “Throughout the first quarter of 2013 we have added a number of key personnel to the Bank that we view as investments in our future expansion plans. We continue to see attractive opportunities for growth both organically and through acquisitions. We believe we are becoming the partner of choice for boards of directors and management of banks throughout Southern California that are seeking to partner with a strong financial institution that has a very specific path to becoming the premier business bank in our market.”
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