Pacific Premier Bank (CA) Offers Two Competitive Mid-Term CDs

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Availability: Market area is Southern California.

The Los Angeles Times is currently running an advertisement for two promotional CDs being offered by Pacific Premier Bank: a 14-month CD (1.25% APY) and 20-month CD (1.30% APY). The minimum opening deposit is $10K, with no maximum balance cap.

These two limited-time CDs are not listed on Pacific Premier Bank’s website at this time. Previous Pacific Premier Bank ads have clearly stated the end date for limited time CDs, but there’s not one listed on this particular ad. CSR did not have any specific information concerning an end date, but stated that promotional CDs are typically available for approximately a month.

According to CSR, the Early Withdrawal Penalty for the 14-month CD is 180 days interest, and 365 days interest for the 20-month CD.

Many thanks to the long-time DA reader in Los Angeles for letting me know about these CDs.

Availability

Headquartered in Irvine, Pacific Premier Bank’s market area covers most of Southern California.

While Pacific Premier Bank does have online banking services for account management and bill payment, opening an account of any kind requires an in-person visit to any of 19 branches located in Corona, Encinitas, Fountain Valley, Huntington Beach, Irvine, Los Alamitos, Newport Beach (2), Palm Desert (2), Palm Springs (2), Riverside, San Bernardino, San Diego (2), San Juan Capistrano, Seal Beach, and Tustin.

Bank Overview

Pacific Premier Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 1.68% (excellent), as of March 31, 2015 data. In the past year, Pacific Premier Bank has increased its total deposits by $619.67 Million, an excellent annual growth rate of 43.03%. Please refer to our financial overview of Pacific Premier Bank for more details.

Originally established in 1983 as the Life Savings and Loan Association, Pacific Premier Bank (FDIC Certificate # 32172) has grown to be one of the largest community banks headquartered in Southern California. In 32 years of continuous operations, the Bank has gone through four name changes and five acquisitions, culminating in the 30th largest bank in California, with assets in excess of $2.7 Billion.

How the CDs Compare

When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to California residents, Pacific Premier Bank’s 14- and 20-month CDs are competitive.

The above rates are accurate as of 6/16/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Comments
Pete S.
Pete S. (anonymous)   |     |   Comment #1
As of 7/14/2915, the rate on the promotional 14 month CD ($10K+) is no longer 1.25%. It is 1.00% as listed on the bank's printed rate sheet. No bank comment as to why current or previous CD rate info not on the bank's website.  Status of promotional 20 month CD not determined.
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It appears that a branch visit is required to open an account. Branches are located in the Southern California cities of Costa Mesa, Los Alamitos, Huntington Beach, Newport Beach, San Bernardino and Seal Beach.

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