Core Insights - Pacific Premier Bancorp (PPBI) reported revenue of $144.83 million for Q1 2025, a year-over-year decline of 15.3%, with EPS of $0.37 compared to $0.49 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $142.23 million by 1.83%, while the EPS surprised by 23.33% against the consensus estimate of $0.30 [1] Financial Performance Metrics - Net interest margin was 3.1%, surpassing the three-analyst average estimate of 3% [4] - Efficiency Ratio stood at 67.5%, better than the 71% average estimate based on three analysts [4] - Total NonPerforming Assets were reported at $27.69 million, lower than the $32.55 million average estimate based on two analysts [4] - Average Interest-Earning Assets reached $16.35 billion, slightly above the two-analyst average estimate of $16.30 billion [4] - Total NonPerforming Loans were also at $27.69 million, compared to the two-analyst average estimate of $32.55 million [4] - Total Noninterest Income was $21.47 million, exceeding the $19.59 million average estimate based on three analysts [4] - Net interest income before provision for loan losses was $123.37 million, above the three-analyst average estimate of $122.63 million [4] Stock Performance - Shares of Pacific Premier Bancorp have returned -9.9% over the past month, compared to the Zacks S&P 500 composite's -6.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - The company reported first quarter EPS of $0.41 per share and operating EPS of $0.67, excluding a legal settlement of $55 million and other expenses [17] - Operating return on tangible equity was 15%, with operating PPNR at $212 million [17] - Net interest margin contracted by four basis points to 3.6% due to seasonal deposit flows [18] - Customer deposit growth was $440 million during the first quarter, driven by small business and retail campaigns [18] Business Line Data and Key Metrics Changes - Loan origination volume increased by 17% compared to the first quarter of 2024, although total loan balances remained flat due to higher prepayment and payoff activity [6][17] - Non-interest income for the quarter was $66 million, with operating non-interest income at $56.9 million, up $2 million from the previous quarter [19] Market Data and Key Metrics Changes - The acquisition of Pacific Premier will increase the company's assets to $70 billion and enhance its market presence, particularly in Southern California [8][10] - The combined organization will operate under the unified brand of Columbia Bank, simplifying brand clarity [11] Company Strategy and Development Direction - The acquisition of Pacific Premier is expected to accelerate strategic goals in Southern California by over a decade, enhancing the company's footprint and product offerings [9][10] - The company aims to optimize financial performance and drive long-term shareholder value, with a focus on relationship banking and balanced growth in deposits, loans, and core fee income [6][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties and market volatility, emphasizing a conservative and disciplined approach to banking [14][15] - The company expects to realize approximately $127 million in pretax cost savings from the Pacific Premier acquisition, with minimal impact on capital ratios [21][25] Other Important Information - The transaction is structured as an all-stock deal, with Pacific Premier shareholders receiving a fixed exchange ratio of 0.915 shares of Columbia stock for each Pacific Premier share [10] - The company does not anticipate needing to raise additional capital to support the acquisition [11][25] Q&A Session Summary Question: Experience from the Umpqua deal - Management highlighted their extensive M&A experience, noting that both companies have completed multiple acquisitions, which provides confidence in executing the current deal [31][32] Question: Regulatory considerations for crossing $100 billion in assets - Management indicated that they have a roadmap for preparing for regulatory requirements as they approach $100 billion in assets, without significant expense increases anticipated [38][39] Question: Opportunities from Pacific Premier's core competencies - Management expressed excitement about leveraging Pacific Premier's strengths in HOA banking and custodial trust business to enhance fee income and expand market presence [50][56] Question: Credit underwriting comfort in the current environment - Management reassured that both companies share a conservative credit culture, with thorough due diligence conducted on Pacific Premier's loan portfolio [62][66] Question: Financial targets and lessons from the Umpqua deal - Management acknowledged the importance of stable market conditions for achieving financial targets, expressing confidence in executing top-tier performance despite market volatility [72][75] Question: Potential for buybacks post-acquisition - Management indicated that while buybacks were previously considered, the focus will now be on closing the acquisition and assessing capital ratios before making any decisions [77][78] Question: Credit mark methodology - Management explained that the credit mark was determined based on extensive due diligence, reflecting the quality of the multifamily portfolio and overall credit performance [94][95]

Core Viewpoint - Pacific Premier Bancorp (PPBI) reported quarterly earnings of $0.37 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, but down from $0.49 per share a year ago, indicating a 23.33% earnings surprise [1] Financial Performance - The company posted revenues of $144.83 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.83%, but down from $170.9 million year-over-year [2] - Over the last four quarters, Pacific Premier Bancorp has exceeded consensus EPS estimates two times and topped consensus revenue estimates twice [2] Stock Performance - Shares of Pacific Premier Bancorp have declined approximately 20.9% since the beginning of the year, compared to a decline of 10.1% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $145.03 million, and for the current fiscal year, it is $1.30 on revenues of $588.23 million [7] Industry Outlook - The Financial - Savings and Loan industry, to which Pacific Premier Bancorp belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Exhibit 99.1 Pacific Premier Bancorp, Inc. Announces First Quarter 2025 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share First Quarter 2025 Summary Irvine, Calif., April 23, 2025 -- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the "Company" or "Pacific Premier"), the holding company of Pacific Premier Bank (the "Bank"), reported net income of $36.0 million, or $0.37 per diluted share, for the first quarter of 2025, compared with net income of $33.9 million, or $0.35 per diluted share, for ...

Core Viewpoint - Columbia Banking System, Inc. will acquire Pacific Premier Bancorp, Inc. in an all-stock transaction valued at approximately $2.0 billion, creating a combined entity with around $70 billion in assets, positioning it as a market leader in the Western U.S. banking sector [1][2][5] Strategic Benefits - The merger establishes a leading banking franchise in the Western region, enhancing competitive positioning in Southern California and expanding service offerings [2][5] - The transaction accelerates Columbia's expansion in Southern California by about a decade, moving its deposit market share into a top-10 position [5] - Pacific Premier's specialized banking verticals, such as HOA Banking and Custodial Trust, will enhance Columbia's product offerings [5] - The combined company will continue to support local communities through volunteerism and charitable initiatives [5] Financial Benefits - The merger is projected to deliver mid-teens EPS accretion to Columbia, with tangible book value dilution expected to be earned back in three years [5][12] - The transaction is anticipated to create approximately $0.9 billion in value based on achievable cost synergies, with expected expense savings of $88 million after-tax [12] - The combined entity is positioned to achieve top-quartile profitability metrics, including an anticipated 20% ROATCE and 1.4% ROAA by 2026 [12] Company Overview - Columbia Banking System, Inc. is headquartered in Tacoma, Washington, and is the parent company of Umpqua Bank, which operates across multiple states in the Western U.S. [10] - Pacific Premier Bancorp, Inc. is a commercial bank focused on serving small to middle-market businesses throughout the Western U.S., with approximately $18 billion in total assets [11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 Commission File No.: 0-22193 (Exact name of registrant as specified in its charter) Delaware 33-0743196 (State of Incorporation) (I.R.S. Employer Identification No) 17901 Von Karman Avenue, Suite 1200, Irvine, California 92614 (Address of Principal Executive Offices and Zip Code) Registrant's telephone number, ...

Investor Presentation Non-U.S. GAAP Financial Measures This presentation contains non-U.S. GAAP financial measures. For purposes of Regulation G promulgated by the SEC, a non-U.S. GAAP financial measure is a numerical measure of the registrant's historical or future financial performance, financial position or cash flows that excludes amounts or is subject to adjustments that have the effect of excluding amounts that are included in the most directly comparable measure calculated and presented in accordance ...

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Q4 2024 Earnings Conference Call January 23, 2025 12:00 PM ET Company Participants Steve Gardner - Chairman & Chief Executive Officer Ron Nicolas - Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Gary Tenner - D.A. Davidson Chris McGratty - KBW Andrew Terrell – Stephens David Feaster - Raymond James Operator Good day, and welcome to the Pacific Premier Bancorp Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] ...

For the quarter ended December 2024, Pacific Premier Bancorp (PPBI) reported revenue of $144.51 million, down 265.3% over the same period last year. EPS came in at $0.35, compared to $0.51 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $143.43 million, representing a surprise of +0.75%. The company delivered an EPS surprise of +9.38%, with the consensus EPS estimate being $0.32.While investors scrutinize revenue and earnings changes year-over-year and how they compa ...

Pacific Premier Bancorp (PPBI) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.38%. A quarter ago, it was expected that this holding company for Pacific Premier Bank would post earnings of $0.39 per share when it actually produced earnings of $0.37, delivering a surprise of -5.13%.O ...