February 12, 2018 / 11:04 AM / 11 days ago

BRIEF-Pacific Premier Bancorp To Acquire Grandpoint Capital

Feb 12 (Reuters) - Pacific Premier Bancorp Inc:

* PACIFIC PREMIER BANCORP, INC. TO ACQUIRE GRANDPOINT CAPITAL, INC.

* WILL ACQUIRE GRANDPOINT IN AN ALL-STOCK TRANSACTION VALUED AT APPROXIMATELY $641.2 MILLION, OR $18.57 PER SHARE

* PACIFIC PREMIER BANCORP - EXPECTS TRANSACTION TO BE IMMEDIATELY ACCRETIVE TO 2018 EARNINGS PER SHARE, 8.6% ACCRETIVE TO EARNINGS PER SHARE IN 2019

* PACIFIC PREMIER BANCORP - ALSO EXPECTS TRANSACTION TO BE ABOUT 2.4% DILUTIVE TO TANGIBLE BOOK VALUE PER SHARE WITH A 1.2 YEAR EARN BACK PERIOD

* HOLDERS OF GRANDPOINT TO RECEIVE 0.4750 OF A SHARE OF PACIFIC PREMIER STOCK FOR EACH SHARE OF GRANDPOINT STOCK

* PACIFIC PREMIER BANCORP - EXISTING PACIFIC PREMIER SHAREHOLDERS WILL OWN ABOUT 75% OF OUTSTANDING SHARES OF COMBINED CO

* PACIFIC PREMIER BANCORP - GRANDPOINT SHAREHOLDERS ARE EXPECTED TO OWN ABOUT 25% OUTSTANDING SHARES OF COMBINED CO Source text for Eikon: Further company coverage:

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