Financial Data and Key Metrics Changes - The company reported net income of $47 million or $0.49 per share, with a return on average assets of 0.99% and a return on average tangible common equity of 10.05% [92] - The net interest margin increased by 11 basis points to 3.39%, attributed to the repositioning of the securities portfolio [73][93] - The tangible common equity (TCE) ratio rose by 25 basis points to 10.97%, and the tangible book value per share increased by $0.11 to $20.33 [74][106] Business Line Data and Key Metrics Changes - Loan demand remained muted, with total loans held for investment decreasing by $277 million due to prepayment sales and maturities exceeding new loan commitments [101] - Noninterest income increased by $5.9 million, primarily due to a $5.1 million gain on the prepayment of a $200 million FHLB term borrowing [97] - Nonperforming assets increased by $39 million to $64 million, primarily due to a single diversified commercial banking relationship [86][107] Market Data and Key Metrics Changes - Total deposits increased by $192 million, driven by a $120 million increase in non-maturity deposits [83][103] - The average cost of non-maturity deposits was well controlled at 1.06% [76] - The company anticipates some outflows in deposits due to seasonal factors, particularly during tax season [103] Company Strategy and Development Direction - The company aims to maintain strong capital levels while expanding deposit relationships and attracting new clients [111] - There is a focus on disciplined risk management and proactive credit risk management to navigate the current economic environment [112] - The company is exploring opportunities to deploy excess capital into higher-yielding earning assets [96][112] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing inflationary pressures, interest rate volatility, and geopolitical risks as factors contributing to an uncertain outlook [112] - The company is cautiously optimistic about modest increases in new loan opportunities as the year progresses [85] - Management emphasized the importance of maintaining discipline in loan origination despite competitive pressures [57][118] Other Important Information - The company has a strong capital position, with a CET1 ratio of 15.20% and a total risk-based capital ratio of 18.23% [74] - The average yield on the investment portfolio increased by 56 basis points to 3.64% [105] - The company is committed to a proactive approach to credit risk management, which has historically benefited the organization [112] Q&A Session Summary Question: What is the outlook for earning assets over the next couple of quarters? - Management indicated that they are encouraged by new opportunities but will maintain discipline in their approach to lending [117] Question: Can you provide guidance on the swap portfolio for the upcoming quarters? - The swap portfolio is expected to remain flat in Q2, contributing approximately 20-21 basis points to the net interest margin [119][120] Question: What is the expected tax rate for the year? - The tax rate is anticipated to be in the range of 26% to 27% for the full year [127]

Exhibit 99.1 Pacific Premier Bancorp, Inc. Announces First Quarter 2024 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share First Quarter 2024 Summary Irvine, Calif., April 24, 2024 -- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the "Company" or "Pacific Premier"), the holding company of Pacific Premier Bank (the "Bank"), reported net income of $47.0 million, or $0.49 per diluted share, for the first quarter of 2024, compared with net loss of $135.4 million, or $1.44 per diluted share, for ...

Financial Performance - As of December 31, 2023, the company reported consolidated total assets of $19.03 billion, net loans of $13.10 billion, total deposits of $15.00 billion, and consolidated total stockholders' equity of $2.88 billion[20]. - The total commercial and consumer deposits were $15.00 billion, with non-maturity deposits comprising 84.7% of total deposits as of December 31, 2023[42]. - The available-for-sale securities portfolio was valued at $1.14 billion, representing 6% of total assets, with a repositioning that generated significant liquidity[45]. - The liquidity position totaled approximately $9.91 billion, consisting of $1.23 billion of on-balance sheet liquidity and $8.68 billion of additional borrowing capacity[47]. - The quarterly cash dividend was increased to $0.33 per share in January 2024, up from an annual cash dividend of $1.32 per share in 2023[52]. - The Corporation's annualized common equity cash dividend was $1.32 per share in 2023, consistent with 2022[112]. - The FDIC insurance premium expense was $11.4 million for 2023, which includes $2.1 million for the FDIC special assessment[122]. - The Corporation anticipates continuing to pay quarterly cash dividends, although future payments are subject to the Board of Directors' discretion[112]. Risk Management and Compliance - The company’s strategic focus includes sound risk management and maintaining a diverse client base through a relationship-driven banking model[21]. - The company is committed to Environmental, Social, and Governance (ESG) initiatives, incorporating them into its enterprise risk management framework[25]. - The company is focused on mitigating climate-related risks, integrating them into its enterprise-wide Risk and Control Self-Assessment (RCSA) process[65]. - A cross-functional climate risk working group has been established to manage climate-related risks, led by a senior officer from the portfolio management and underwriting group[67]. - The Dodd-Frank Act has increased the regulatory burden and compliance costs for the Company, impacting its financial condition and operational results[1]. - The federal banking regulators have the discretion to set individual minimum capital requirements for specific institutions, which could affect the Company's growth and dividend payments[99]. - The federal banking agencies prohibit incentive-based compensation arrangements that encourage excessive risk-taking, impacting the Company's compensation policies[90]. - The Company is subject to enhanced enforcement of consumer financial protection laws due to its assets exceeding $10 billion since 2019[138]. - The Company must comply with various consumer protection laws, including the Truth in Lending Act and Fair Credit Reporting Act, to maintain customer relations[137]. - The Company is evaluating the impact of new regulations and developing strategies for compliance with the CRA[132]. Loan Portfolio and Asset Quality - As of December 31, 2023, the total loans held for investment amounted to $13.29 billion, with multifamily real estate secured loans constituting 42.5% at $5.65 billion[36]. - The loan portfolio is concentrated in commercial real estate (CRE) and commercial business loans, with CRE loans totaling $11.12 billion, or 83.7% of the total loan portfolio[164]. - The company reported net loan charge-offs of $17.6 million and a provision expense for loan losses of $14.4 million in 2023[159]. - As of December 31, 2023, total nonperforming assets amounted to $25.1 million, or 0.13% of total assets[159]. - The largest outstanding commercial and industrial (C&I) loan balance was $264.1 million, while the largest outstanding CRE loan balance was $88.9 million[164]. Employee and Diversity Initiatives - The company had 1,345 full-time equivalent employees as of December 31, 2023[69]. - 51% of employees in vice president and above roles were female, and 47% were from a minority group[71]. - The aggregate percentage of women in the entire workforce was 60%, while the percentage of minorities was 57%[71]. - The company offers a competitive total compensation package, including comprehensive medical, dental, and vision benefits, as well as a 401(k) plan with a competitive company match[76]. Technology and Innovation - The company has developed the Pacific Premier API Banking platform to enhance cash management treasury functions, improving automation and customer experience[32]. - The company’s online banking platform includes features such as mobile check deposit and wire approval, enhancing clients' ability to manage accounts efficiently[32]. - The effective use of technology is critical for the company to meet customer demands and improve operational efficiencies[198]. - The company’s modeling of sensitivity to interest rates is low in a rising interest rate environment and low-to-moderate in a falling rate environment[154]. - The reliance on artificial intelligence technologies introduces risks such as algorithmic bias and unauthorized access to data[176]. Market Competition and Economic Environment - The company competes in the commercial banking sector primarily in the Western Region of the U.S., facing competition from larger regional and national banks[74]. - Increased competition in the financial services industry may lead to reduced new loan production and decreased deposit balances[196]. - The company faces strong competition from national banks, regional banks, community banks, and fintech companies, which could adversely affect its business[195]. - Customer confidence in the banking system has improved since the first half of 2023, but risks related to disintermediation and uninsured deposits remain[149]. - The Company faces risks from potential economic deterioration in California and surrounding states, which could lead to higher default rates on loans[148]. Regulatory and Legal Considerations - The Company is not currently classified as a "financial holding company," limiting its ability to engage in certain additional financial activities[88]. - The FDIC's risk-based deposit premium assessment system may lead to increased premiums if criticized loans or higher risk assets rise[117]. - Regulatory changes could restrict the company's ability to conduct certain activities, impacting business opportunities and financial performance[187]. - The company is subject to evolving regulations regarding privacy and data protection, including the California Consumer Privacy Act, which could increase compliance costs[192]. - The company experienced a data compromise in 2023 involving a third-party vendor, but it did not impact its own information systems[173]. Capital and Funding - The Company exceeded all regulatory capital requirements, maintaining a Common Equity Tier 1 (CET1) capital ratio above 7.0%, a Tier 1 capital ratio above 8.5%, and a total capital ratio above 10.5%[106]. - The Company has approximately $944.6 million in goodwill and intangible assets as of December 31, 2023, including $901.3 million in goodwill from acquisitions since 2011[203]. - The Company has opted to exclude Accumulated Other Comprehensive Income (AOCI) from its CET1 capital calculations as permitted by Basel III[95]. - The Company may need to raise additional capital in the future, which may not be available on acceptable terms[168]. - The company successfully reduced higher-cost wholesale funding sources by $817.0 million during the fourth quarter of 2023[45].

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Q4 2023 Earnings Conference Call January 29, 2024 12:00 PM ET Company Participants Steve Gardner - Chairman and CEO Ron Nicolas - CFO Conference Call Participants David Feaster - Raymond James Chris McGratty - KBW Gary Tenner - D.A. Davidson Andrew Terrell - Stephens Adam Butler - Piper Sandler Operator Good morning. And welcome to the Pacific Premier Bancorp Fourth Quarter 2023 Conference Call. All participants will be in listen only mode [Operator Instructions]. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 0-22193 (Exact name of registrant as specified in its charter) Delaware 33-0743196 (State or other jurisdiction of ...

Investor Presentation October 24, 2023 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 Forward Looking Statements Third Quarter 2023 Steve Gardner Chairman, Chief Executive Officer, & President sgardner@ppbi.com 949-864-8000 PACIFIC PREMIER BANCORP, INC. FORWARD LOOKING STATEMENTS AND WHERE TO FIND MORE INFORMATION This investor presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the f ...

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Q3 2023 Earnings Conference Call October 24, 2023 12:00 PM ET Company Participants Steve Gardner - Chairman and CEO Ron Nicolas - CFO Conference Call Participants David Feaster - Raymond James Matthew Clark - Piper Sandler Chris McGratty - KBW Gary Tenner - DA Davidson David Chiaverini - Wedbush Securities Operator Good day, everyone. And welcome to the Pacific Premier Bancorp Third Quarter 2023 Conference Call. All participants will be in a listen-only mode. [Ope ...

PART I [Financial Statements](index=3&type=section&id=Item%201%20-%20Financial%20Statements) Presents Pacific Premier Bancorp's unaudited consolidated financial statements for Q2 2023, covering financial condition, income, comprehensive income, equity, cash flows, and detailed notes [Consolidated Statements of Financial Condition (Unaudited)](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition%20%28Unaudited%29) Total assets and liabilities decreased as of June 30, 2023, driven by reduced loans and deposits, while stockholders' equity slightly increased Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $1,463,677 | $1,101,249 | | Investment securities (AFS & HTM) | $3,749,395 | $3,989,116 | | Loans held for investment, net | $13,417,949 | $14,480,647 | | Goodwill | $901,312 | $901,312 | | **Total assets** | **$20,747,883** | **$21,688,017** | | **Liabilities** | | | | Total deposits | $16,539,875 | $17,352,401 | | FHLB advances and other borrowings | $800,000 | $1,000,000 | | **Total liabilities** | **$17,898,749** | **$18,889,628** | | **Stockholders' Equity** | | | | Total stockholders' equity | $2,849,134 | $2,798,389 | | **Total liabilities and stockholders' equity** | **$20,747,883** | **$21,688,017** | [Consolidated Statements of Income (Unaudited)](index=4&type=section&id=Consolidated%20Statements%20of%20Income%20%28Unaudited%29) Net income for Q2 2023 and the six months ended June 30, 2023, decreased year-over-year, primarily due to lower net interest income from increased funding costs Income Statement Highlights (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $160,092 | $172,765 | $328,702 | $334,604 | | Provision for credit losses | $1,499 | $469 | $4,515 | $917 | | Noninterest income | $20,539 | $22,193 | $41,725 | $48,087 | | Noninterest expense | $100,644 | $98,974 | $201,996 | $196,622 | | **Net income** | **$57,636** | **$69,803** | **$120,198** | **$136,707** | | **Diluted EPS** | **$0.60** | **$0.73** | **$1.26** | **$1.44** | [Consolidated Statements of Comprehensive Income (Loss) (Unaudited)](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29%20%28Unaudited%29) Comprehensive income significantly improved in Q2 2023 compared to a loss in Q2 2022, despite lower net income, due to a smaller other comprehensive loss related to available-for-sale securities Comprehensive Income (Loss) Summary (in thousands) | Component | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $57,636 | $69,803 | $120,198 | $136,707 | | Other Comprehensive (Loss), net of tax | $(12,738) | $(70,785) | $(10,220) | $(207,156) | | **Comprehensive Income (Loss)** | **$44,898** | **$(982)** | **$109,978** | **$(70,449)** | [Consolidated Statements of Stockholders' Equity (Unaudited)](index=6&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Equity%20%28Unaudited%29) Total stockholders' equity increased from year-end 2022 to June 30, 2023, driven by net income, partially offset by cash dividends and other comprehensive loss - For the six months ended June 30, 2023, stockholders' equity increased by **$50.7 million**, from **$2.798 billion** to **$2.849 billion**[17](index=17&type=chunk) - Key changes in equity for the first half of 2023 included: +**$120.2 million** from net income, -**$63.0 million** from cash dividends, and -**$10.2 million** from other comprehensive loss[17](index=17&type=chunk) [Consolidated Statements of Cash Flows (Unaudited)](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) Net cash increased for the six months ended June 30, 2023, driven by operating and investing activities, partially offset by financing outflows from decreased deposits Net Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $176,409 | $210,378 | | Net cash provided by (used in) investing activities | $1,267,050 | $(482,829) | | Net cash (used in) provided by financing activities | $(1,081,031) | $940,546 | | **Net increase in cash and cash equivalents** | **$362,428** | **$668,095** | [Notes to Consolidated Financial Statements (Unaudited)](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements%20%28Unaudited%29) Provides detailed disclosures supporting financial statements, including new accounting standards, portfolio details, credit quality, ACL, goodwill, debt, and fair value measurements - The company adopted ASU 2022-02 on January 1, 2023, which eliminated the accounting guidance for Troubled Debt Restructurings (TDRs) and introduced new disclosure requirements for loan modifications to borrowers experiencing financial difficulty[32](index=32&type=chunk) - The use of the London Interbank Offered Rate (LIBOR) was discontinued after June 30, 2023, with the company transitioning to the Secured Overnight Financing Rate (SOFR) as its primary alternative reference rate[37](index=37&type=chunk) - During the first half of 2023, the company transferred **$410.7 million** of Available-for-Sale (AFS) collateralized mortgage obligations to Held-to-Maturity (HTM) securities to be held to maturity[46](index=46&type=chunk) - The Allowance for Credit Losses (ACL) for loans was **$192.3 million** as of June 30, 2023, compared to **$195.7 million** at year-end 2022, with the ACL for off-balance sheet commitments at **$24.5 million**[118](index=118&type=chunk)[122](index=122&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=61&type=section&id=Item%202%20-%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting decreased Q2 2023 net income due to margin compression, and outlines strategic actions to enhance liquidity and maintain strong capital ratios [General and Recent Developments](index=63&type=section&id=General%20and%20Recent%20Developments) The company operates 59 branches in the Western U.S., focusing on small- to middle-market businesses, and is actively monitoring the impact of inflation, rising rates, and bank failures on its operations - The company identifies key risks from the current economic environment, including pressure on loan growth, potential credit quality deterioration, the need for higher provisions for credit losses (ACL), and increased deposit costs and competition[208](index=208&type=chunk)[209](index=209&type=chunk) - In response to market conditions, the company has taken strategic actions to enhance liquidity, including increasing FHLB borrowings, using brokered deposits, and potentially liquidating AFS securities[209](index=209&type=chunk) [Results of Operations](index=69&type=section&id=Results%20of%20Operations) Q2 2023 net income decreased sequentially and year-over-year, primarily due to net interest margin compression from rising funding costs, alongside minor changes in noninterest items Quarterly Performance Summary (in thousands, except per share data) | Metric | Q2 2023 | Q1 2023 | Q2 2022 | | :--- | :--- | :--- | :--- | | Net Income | $57,636 | $62,562 | $69,803 | | Diluted EPS | $0.60 | $0.66 | $0.73 | | Net Interest Income | $160,092 | $168,610 | $172,765 | | Net Interest Margin | 3.33% | 3.44% | 3.49% | | Provision for Credit Losses | $1,499 | $3,016 | $469 | - Net interest income decreased by **$12.7 million**, or **7.3%**, compared to Q2 2022, primarily due to higher cost of funds, an increase in brokered CDs, and lower average loan balances[228](index=228&type=chunk) - Noninterest expense increased by **$1.7 million** compared to Q2 2022, driven by a **$5.1 million** increase in deposit expense (due to higher earnings credit rates) and higher FDIC insurance premiums, partially offset by a **$4.1 million** decrease in compensation and benefits[248](index=248&type=chunk) [Financial Condition](index=80&type=section&id=Financial%20Condition) Total assets and deposits decreased at June 30, 2023, driven by lower loans and non-maturity deposit outflows, while nonperforming assets declined and tangible common equity improved - Loans held for investment decreased by **$1.07 billion** (**7.3%**) since year-end 2022, reflecting a disciplined approach to credit risk, pricing, and lower loan demand[264](index=264&type=chunk) - Nonperforming assets fell to **$17.4 million** (**0.08% of total assets**) at Q2 2023, down from **$30.9 million** (**0.14% of total assets**) at year-end 2022[277](index=277&type=chunk) - Deposits decreased by **$812.5 million** since year-end 2022, with non-maturity deposits falling by **$1.39 billion** while time deposits grew; uninsured and uncollateralized deposits represented **32%** of total deposits[305](index=305&type=chunk)[310](index=310&type=chunk) - Total borrowings decreased by **$199.7 million** to **$1.13 billion**, due to the maturity of **$200.0 million** in FHLB term advances[311](index=311&type=chunk) [Capital Resources and Liquidity](index=97&type=section&id=Capital%20Resources%20and%20Liquidity) The company maintains strong liquidity and capital, with substantial available liquidity covering uninsured deposits, and all regulatory capital ratios significantly exceeding 'well capitalized' minimums - As of June 30, 2023, the company had unused borrowing capacity of **$8.53 billion**, including **$4.75 billion** from the FHLB and access to the FRB's discount window and Bank Term Funding Program[312](index=312&type=chunk)[315](index=315&type=chunk) - The company declared a quarterly cash dividend of **$0.33 per share** on July 25, 2023, with no shares repurchased under the stock repurchase program during the first half of 2023[322](index=322&type=chunk)[323](index=323&type=chunk) Regulatory Capital Ratios (Consolidated) | Ratio | June 30, 2023 | Minimum Required (with buffer) | | :--- | :--- | :--- | | Common equity tier 1 capital ratio | 14.34% | 7.00% | | Tier 1 capital ratio | 14.34% | 8.50% | | Total capital ratio | 17.24% | 10.50% | | Tier 1 leverage ratio | 10.90% | 4.00% | [Quantitative and Qualitative Disclosures About Market Risk](index=102&type=section&id=Item%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate risk, with models indicating an asset-sensitive position where Net Interest Income and Economic Value of Equity are projected to increase in rising rate scenarios Net Interest Income (NII) Sensitivity Analysis (at June 30, 2023) | Change in Rates (bps) | $ Change (12-mo) | % Change (12-mo) | | :--- | :--- | :--- | | +200 | $23,275 | 3.6% | | +100 | $12,887 | 2.0% | | Static | $0 | 0.0% | | -100 | $(24,200) | -3.8% | Economic Value of Equity (EVE) Sensitivity Analysis (at June 30, 2023) | Change in Rates (bps) | $ Change | % Change | | :--- | :--- | :--- | | +200 | $58,396 | 1.7% | | +100 | $57,790 | 1.7% | | Static | $0 | 0.0% | | -100 | $(117,568) | -3.5% | [Controls and Procedures](index=104&type=section&id=Item%204%20-%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2023, with no material changes in internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[340](index=340&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2023, that have materially affected, or are reasonably likely to materially affect, the company's internal controls[341](index=341&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=105&type=section&id=Item%201%20-%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, none expected to materially impact its financial condition or results of operations - Management believes that no legal proceedings occurring in the ordinary course of business will have a material adverse impact on the Company's results of operations or financial condition[344](index=344&type=chunk) [Risk Factors](index=105&type=section&id=Item%201A%20-%20Risk%20Factors) No material changes to the company's risk factors have occurred since the 2022 Form 10-K and Q1 2023 Form 10-Q disclosures - No material changes to the risk factors previously described in the 2022 Form 10-K and Q1 2023 Form 10-Q have occurred[345](index=345&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=105&type=section&id=Item%202%20-%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase common stock during Q2 2023, with 4,245,056 shares remaining available under the authorized repurchase program as of June 30, 2023 - During the second quarter of 2023, the Company did not repurchase any shares of its common stock[346](index=346&type=chunk) - The maximum number of shares that may yet be purchased under the publicly announced plan is **4,245,056** as of June 30, 2023[348](index=348&type=chunk) [Defaults Upon Senior Securities](index=105&type=section&id=Item%203%20-%20Defaults%20Upon%20Senior%20Securities) None reported [Mine Safety Disclosures](index=105&type=section&id=Item%204%20-%20Mine%20Safety%20Disclosures) Not applicable [Other Information](index=105&type=section&id=Item%205%20-%20Other%20Information) No officer or director adopted or terminated Rule 10b5-1 trading plans or other non-Rule 10b5-1 trading arrangements during Q2 2023 - No officer or director adopted or terminated a Rule 10b5-1 trading plan during the quarter ended June 30, 2023[351](index=351&type=chunk) [Exhibits](index=106&type=section&id=Item%206%20-%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO, and XBRL data files

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.60, with a return on average assets of 1.09% and a return on tangible common equity of 12.7% [11][18] - Total revenue for the second quarter was $180.6 million, while non-interest expense was $100.6 million, resulting in an efficiency ratio of 54.1% [18] - The tangible common equity ratio increased to 9.59%, with CET1 and total risk-based capital ratios rising by 80 and 91 basis points to 14.34% and 17.24%, respectively [11][29] Business Line Data and Key Metrics Changes - The loan portfolio contracted by $562 million, driven by prepayment sales and maturities, with lower loan originations in the first half of 2023 [26] - Non-interest income decreased to $20.5 million, primarily due to lower trust income, but was partially offset by higher other income and loan sale gains [20] - The average cost of non-maturity deposits was 71 basis points, with non-interest bearing deposits comprising 36% of total deposits [10] Market Data and Key Metrics Changes - The company experienced a decline in average non-maturity deposits, attributed to clients seeking higher returns and seasonality around tax payments [12] - Uninsured and uncollateralized deposits decreased to 32% of total deposits, but deposit balances grew later in the quarter and continued through July [12][13] - The average yield on the investment portfolio increased by 7 basis points to 2.64% [27] Company Strategy and Development Direction - The company is focused on maintaining a conservative and disciplined approach to managing the business while pursuing new client acquisition and enhancing existing relationships [33] - There is an emphasis on capital and liquidity management, with a strategy to moderate growth rates and hedge interest rate risk [6][10] - The company remains open to M&A opportunities that complement its franchise and maximize long-term shareholder value [35] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging economic environment but expressed confidence in the company's ability to navigate through it due to proactive risk management [5][6] - There is cautious optimism regarding loan growth in the second half of the year, contingent on acceptable risk-adjusted returns [42][73] - The company is prepared for various market dynamics and potential economic downturns, maintaining flexibility to capitalize on opportunities [34] Other Important Information - The company’s asset quality remains solid, with nonperforming assets at just 8 basis points of total assets and classified assets declining to 0.58% [16][30] - The company sold $77 million of non-relationship loan participations during the quarter, prioritizing liquidity [27] Q&A Session Summary Question: Trends in non-interest bearing deposits - Management confirmed that trends in non-maturity deposits, including non-interest bearing deposits, have stabilized towards the end of the quarter and into July [38][39] Question: Loan growth outlook for the second half of the year - Management indicated that while there is a slowing in prepayments and paydowns, they remain cautious about extending credit unless it meets risk-adjusted return thresholds [42][73] Question: M&A activity and ideal targets - Management noted that while conversations around M&A have picked up, they remain focused on relationship-based banks primarily on the West Coast [45][46] Question: NIM outlook and hedges contribution - Management acknowledged continued pressure on net interest margin due to higher funding costs but expects to mitigate this through strategic actions [56][60] Question: Loan portfolio size and growth expectations - Management anticipates that loan portfolio compression will slow in the second half of the year, with potential for incremental growth if risk-adjusted thresholds are met [71][73]

Pacific Premier Bancorp Inc. (NASDAQ:PPBI) Q1 2023 Results Conference Call April 27, 2023 12:00 PM ET Company Participants Steven Gardner - Chairman, President and CEO Ronald Nicolas - Senior EVP and CFO Conference Call Participants Matthew Clark - Piper Sandler Chris McGratty - KBW Gary Tenner - D.A. Davidson Andrew Terrell - Stephens Operator Good day, everyone, and welcome to the Pacific Premier Bancorp Q1 2023 Conference Call. [Operator Instructions] Please also note today's event is being recorded. An ...