Irvine-based Pacific Premier Bancorp., holding company of Pacific Premier Bank, has agreed to buy Opus Bank in an all-stock deal valued at $1 billion. Opus, also headquartered in Irvine, operates 46 banking branches scattered throughout California, Washington, Oregon and Arizona. They have a branch in Twentynine Palms. The company had $8 billion in assets, $5.9 billion in loans and $6.5 billion in deposits as of December 31.The acquisition will increase Pacific Premier’s footprint to 86 branches with total assets of roughly $20 billion. The deal is subject to regulatory and shareholder approval and expected to close in the second quarter of 2020.
