Grandpoint Bank (merged into Pacific Premier Bank)

What sets Grandpoint Bank apart

Nothing in the latest data sets Grandpoint Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.

How large is Grandpoint Bank?

The balance sheet of Grandpoint Bank at Q2 2018: assets $3.1 bn, deposits $2.5 bn, net loans $2.4 bn (loans equal to 95.05% of deposits). Securities make up 12.8% of total assets at Grandpoint Bank. Since Q1 2016, when Grandpoint Bank held $3.2 bn, its assets shrank 4.1%. In the year to Q2 2018, deposits at Grandpoint Bank rose 1.5% while its total assets fell 4.4%. At Q2 2018, Grandpoint Bank employed 264 full-time equivalent staff across 17 offices, about $11.8 mn of assets per employee and $147.6 mn of deposits per office.

How much funding at Grandpoint Bank is uninsured?

At Grandpoint Bank, uninsured deposits (above the FDIC limit) made up 53.58% of domestic deposits at Q2 2018 (+3.82 pp on a year earlier). In dollars, Grandpoint Bank estimated $1.3 bn of uninsured deposits.

Key facts, Q2 2018

US rank of Grandpoint Bank: 1 = highest unless marked 1 = lowest.

The CET1 ratio of Grandpoint Bank stood at 10.22% in Q2 2018, -1.74 pp year on year. Low and high at Grandpoint Bank since Q1 2016: 10.22% (Q2 2018) to 12.53% (Q3 2016). Equity capital of Grandpoint Bank at Q2 2018: $325.2 mn, or 10.5% of total assets. Grandpoint Bank also reported a total capital ratio of 10.98% for Q2 2018, and a tier 1 leverage ratio of 8.65%.

On held-to-maturity securities, Grandpoint Bank carried an unrealized loss of $895,000 at Q2 2018, equal to 0.3% of equity capital. The loss turned from a gain into a loss over the year. The available-for-sale portfolio of Grandpoint Bank showed an unrealized loss of $4.2 mn at Q2 2018; the loss widened by $3.6 mn over the year.

For the year to Q2 2018, Grandpoint Bank earned a return on equity of 10.32%; return on assets: 1.11%. Net interest margin at Grandpoint Bank: 3.87%, +0.18 pp in a year. Grandpoint Bank net income: $17.6 mn, up 2.4% year on year. The efficiency ratio of Grandpoint Bank was 70.68%: about 71 cents cost per revenue dollar, against 54 cents at the median peer.

At Q2 2018, noncurrent loans were 0.29% of total loans at Grandpoint Bank; net charge-offs: 0.02% of average loans. Gross loans and leases at Grandpoint Bank: $2.4 bn at Q2 2018, against $2.4 bn at Q2 2017.

The peer group of Grandpoint Bank is the 6 banks nearest to it by total assets at Q2 2018: 3 larger and 3 smaller. Of the peers, 3 share the charter type of Grandpoint Bank (state nonmember bank) and 2 have head offices in California. Against them, Grandpoint Bank shows CET1 ratio 10.22% against a peer median of 12.20%, return on equity 10.32% against a peer median of 10.99% and uninsured deposit share 53.58% against a peer median of 35.81%.

The FDIC history of Grandpoint Bank, oldest first; figures before and after each event are not like for like.

1. 1 July 2018. Merged into Pacific Premier Bank (FDIC certificate 32172).