Pacific Premier Bancorp, Inc. (PPBI)’s Fourth Quarter 2014 Earnings Call Transcript

Operator

Our next question comes from Gary Tenner from D.A. Davidson.

Gary Tenner, D.A. Davidson

Good morning.

Steve Gardner, President and CEO

Hi Gary.

Gary Tenner, D.A. Davidson

Our question’s have largely been answered. I just want to make sure I was clear on the comment on the 1% reserve target. Was that, again relative to the 75 basis points GAAP number reported at 12/31, or the 87 basis point adjusted number that Kent mentioned?

Steve Gardner, President and CEO

The 75 basis points.

Gary Tenner, D.A. Davidson

The 75, okay, the fully loaded GAAP number, alright. Thank you very much.

Operator

Our next question is a follow-up from Matthew Clark from Sterne Agee. Please go ahead with your question.

Matthew Clark, Sterne Agee

Hey guys, just hoping if you can clarify your expense guidance for the year, I think you talked about 3% to 5% growth in expenses on the base business. I assume that is excluding the pending acquisition, but I am just wondering if there is anything else that you might be excluding?

Steve Gardner, President and CEO

No that’s the only item that we would be excluding as Kent had mentioned, we expect approximately $6 million in merger-related expense here in Q1 given some of the significant cost savings that we see going forward after closing, but no we’re not excluding anything else.

Matthew Clark, Sterne Agee

Okay, thanks.

Operator

And at this time I am showing no additional questions. I’d like to turn the conference call back over to Mr. Gardner for any closing remarks.

Steve Gardner, President and CEO

Thank you, Jamie. And I want to thank everyone again for joining us this morning. If you have any further questions, please feel free to give either Kent or myself a call and we would be happy to talk with you. Have a great wet day.

Operator

Ladies and gentlemen, that does conclude today’s conference call. We do thank you for attending. You may now disconnect your telephone lines.