IRVINE, Calif.--(BUSINESS WIRE)--
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), the holding company of Pacific Premier Bank, announced today that Steve R. Gardner, Chairman and Chief Executive Officer, has been elected to a second term on the Board of Directors of the Federal Reserve Bank of San Francisco. Mr. Gardner was elected as a Class A director by member banks and will serve a three-year term beginning January 1, 2017.
Mr. Gardner has held a number of leadership positions within financial services agencies and associations including:
- Director and Chairman of the Finance Committee of the Federal Home Loan Bank of San Francisco
- Vice Chairman of the Federal Reserve Bank of San Francisco’s Twelfth District Community Depository Institutions Advisory Council (CDIAC)
- President and Chairman of the California Independent Bankers
- Director of ICBA Securities and the ICBA Holding Company
Each of the nation’s 12 Federal Reserve Banks has a nine-member board of directors, three of whom are appointed by the Board of Governors of the Federal Reserve System as Class C directors. The remaining six (three Class A and three Class B directors) are elected by the District’s member banks. Class A directors are drawn from the banking community. Class B and C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers. The board of directors of the Federal Reserve Bank of San Francisco contributes to the formulation of U.S. monetary policy through the industry and regional economic information they provide the bank’s president.
The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation’s central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers certain consumer protection laws, and is fiscal agent for the U.S. government.
About Pacific Premier Bancorp, Inc.
Pacific Premier Bancorp, Inc. is the holding company for Pacific Premier Bank, one of the largest community banks headquartered in Southern California. Pacific Premier Bank is a business bank primarily focused on serving small and middle market businesses in the counties of Los Angeles, Orange, Riverside, San Bernardino and San Diego, California. Pacific Premier Bank offers a diverse range of lending products including commercial, commercial real estate, construction, and SBA loans, as well as specialty banking products for homeowners associations and franchise lending nationwide. Pacific Premier Bank serves its customers through its 16 full-service depository branches in Southern California located in the cities of Corona, Encinitas, Huntington Beach, Irvine, Los Alamitos, Murrieta, Newport Beach, Orange, Palm Desert, Palm Springs, Redlands, Riverside, San Bernardino, and San Diego.
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