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 March 31, 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 inc ...

Financial Performance - Tangible book value per share has more than doubled since 2013, reflecting successful execution of the overall growth strategy[35] - The quarterly cash dividend was increased to $0.33 per share in January 2023, up from an annual cash dividend of $1.32 per share in 2022[42] - The annualized common equity cash dividend was $1.32 per share in 2022, an increase of 2% from $1.29 per share in 2021[113] - The Corporation anticipates continuing to pay quarterly cash dividends, subject to the discretion of the Board of Directors and dependent on operating results and financial condition[113] - The amount available for distribution from the Bank to the Corporation was approximately $459.5 million at December 31, 2022[115] Regulatory Compliance - The company is subject to extensive regulation and supervision by federal and state regulators, impacting operations and capital requirements[79][80] - The Dodd-Frank Act has increased the regulatory burden and compliance costs for the company[84] - The Company implemented the CECL model starting January 1, 2020, and opted to phase in the full effect of CECL on regulatory capital over a five-year transition period[104] - The Basel III framework requires a minimum CET1 ratio of 4.5%, a Tier 1 capital ratio of 6.0%, and a total capital ratio of 8.0%, plus the capital conservation buffer[96] - The federal banking regulators have the authority to set individual minimum capital requirements for specific institutions above the standard guidelines[99] Capital and Liquidity - The Company had outstanding subordinated debentures totaling $331.2 million as of December 31, 2022, with $283.2 million qualifying as Tier 2 capital[97] - As of December 31, 2022, the Bank and Corporation exceeded all regulatory capital requirements, maintaining a Common Equity Tier 1 (CET1) capital ratio above the minimum requirement of 7.0%[107] - The minimum capital conservation buffer has been phased in over four years, reaching 2.50% by 2019, which is part of the overall capital requirements under Basel III[94] - The Company and the Bank have elected to exclude Accumulated Other Comprehensive Income (AOCI) from CET1 capital as permitted by Basel III[95] - The company is subject to capital adequacy standards, and failure to meet these could restrict activities and capital actions such as paying dividends or repurchasing securities[164] Loan and Credit Quality - The largest aggregate outstanding balance of loans to one borrower was $224.5 million as of December 31, 2022, primarily comprised of an asset-based line of credit[50] - Total nonperforming assets amounted to $30.9 million, or 0.14% of total assets, with net loan charge-offs increasing to $10.6 million in 2022 from $3.2 million in 2021[165] - The company reported a provision expense for loan losses of $8.5 million in 2022, a significant decrease from a provision recapture of $67.1 million in 2021[165] - Approximately 59% of the aggregate outstanding principal of the Company's loans as of December 31, 2022, is secured by real estate located within California[143] - The processes used to estimate the allowance for credit losses require complex judgments, which may be adversely affected by economic conditions[140] Economic Environment and Risks - The economic environment poses significant challenges, with potential adverse effects on the Company's customers' ability to repay loans due to financial stress[139] - Elevated inflation could lead to increased costs for business customers, impacting their profitability and potentially increasing default rates on loans[141] - The ongoing COVID-19 pandemic continues to create uncertainty, affecting economic conditions and the Company's operations[145] - The Company is closely monitoring the impact of military conflicts and geopolitical events on financial markets[142] - Liquidity risk remains a concern, with potential adverse effects on financial condition due to market disruptions or regulatory actions impacting access to funding sources[160] Employee and Diversity - As of December 31, 2022, the company had 1,430 full-time equivalent employees[66] - 49% of employees in vice president and above roles were female, and 42% were from a minority group[68] - The aggregate percentage of women in the entire workforce was 60%, and the aggregate percentage of minorities was 53%[68] - The company offers a comprehensive total compensation package, including medical, dental, and vision benefits, as well as a 401(k) plan with a competitive company match[71] Cybersecurity and Operational Risks - The Bank maintains a comprehensive cybersecurity strategy, including regular employee training and incident response plans to mitigate risks[53] - Cybersecurity remains a priority, with ongoing enhancements to protect sensitive data against evolving threats, although no successful cyber-attacks have been reported to date[176] - The company incurs costs to replace compromised cards and address fraudulent transaction activities when clients fall victim to cyber-attacks[178] - The company is exposed to risks from operational errors and reliance on automated systems, which could lead to financial loss or liability[202] Competition and Market Position - The company is focused on the commercial banking business in the Western Region of the U.S., competing with larger regional and national banks[72][73] - The company differentiates itself through personalized relationship banking services and efficient decision-making in lending[76] - The company faces strong competition from various financial institutions, including national banks, regional banks, community banks, and fintech companies, which may adversely affect its ability to grow loans and deposits[200] - Competition for qualified personnel is intense, and the inability to attract and retain talent could materially affect the company's financial condition and results of operations[199] Acquisitions and Goodwill - The company has completed eleven acquisitions since 2010, including Opus Bank, which had approximately $8 billion in total assets at the time of acquisition[203] - The company issued approximately 34.4 million shares of common stock as transaction consideration in the acquisition of Opus Bank, which may lead to dilution of stockholder value[206] - As of December 31, 2022, the company had approximately $956.9 million in goodwill and intangible assets, with $901.3 million attributed to acquisitions since 2011[208] Investment and Securities - As of December 31, 2022, available-for-sale securities totaled $2.60 billion, representing 12% of total assets, with an effective duration of 3.1 years[39] - The effective duration of the securities portfolio is 3.1 years, with approximately 95% of investments rated "A1 - A3" or higher[39] - As of December 31, 2022, the fair value of available-for-sale securities was $2.60 billion, with an aggregate net unrealized loss of $303.7 million, contributing to a decline in stockholders' equity by $87.9 million compared to the previous year[154] - The total stockholders' equity decreased by $87.9 million from December 31, 2021, primarily due to declines in the estimated fair value of available-for-sale securities during 2022[154]

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Q4 2022 Earnings Conference Call January 26, 2023 12:00 PM ET Company Participants Steve Gardner - Chairman & Chief Executive Officer Ron Nicolas - Chief Financial Officer Conference Call Participants David Feaster - Raymond James Matthew Clark - Piper Sandler Andrew Leischner - KBW Andrew Terrell - Stephens Gary Tenner - D.A. Davidson Operator Good morning, and welcome to the Pacific Premier Bancorp Fourth Quarter 2022 Conference Call. All participants will be in ...

Financial Performance Highlights - Net income reached $737 million, translating to $077 per diluted share[12] - The Return on Average Assets (ROAA) stood at 136% and Return on Average Tangible Common Equity (ROATCE) was 1699%[12] - Pre-provision net revenue (PPNR) amounted to $1027 million, with a PPNR ROAA of 189%[12] - The efficiency ratio was 474%[12] Balance Sheet and Capital Strength - Total assets were $217 billion[10] - Loans held for investment (HFI) totaled $147 billion[10, 12] - The tangible common equity to tangible assets ratio was 888%[10, 12] - Tier 1 capital ratio was 1299% and the total capital ratio was 1553%[10, 12] Deposit and Loan Portfolio - Core deposits totaled $148 billion, representing 856% of total deposits[12] - Non-interest bearing deposits accounted for 363% of total deposits[12] - The loan portfolio amounted to $147 billion[12]

Financial Performance - Net income for the three months ended September 30, 2022, was $73.36 million, a decrease of 18.6% compared to $90.09 million for the same period in 2021[12]. - Basic earnings per share for the three months ended September 30, 2022, was $0.77, compared to $0.95 for the same period in 2021, reflecting a decline of 18.9%[12]. - Comprehensive income for the nine months ended September 30, 2022, was $(63.181) million, a significant decline from $195.942 million for the same period in 2021[14]. - Net income for the nine months ended September 30, 2022, was $210,070, a decrease of 16.6% compared to $255,058 for the same period in 2021[23]. - The company reported a provision for credit losses of $1.08 million for the three months ended September 30, 2022, compared to a reversal of $19.73 million for the same period in 2021[12]. Asset and Equity Changes - Total assets increased to $21.62 billion as of September 30, 2022, compared to $21.09 billion at December 31, 2021, reflecting a growth of 2.5%[10]. - Total stockholders' equity decreased to $2.74 billion as of September 30, 2022, from $2.89 billion at December 31, 2021, a decline of 5.2%[10]. - The total stockholders' equity as of September 30, 2022, was $2.735 billion, a decrease from $2.886 billion at the end of 2021[16]. Income and Expense Analysis - Net interest income before provision for credit losses was $181.11 million for the three months ended September 30, 2022, up from $169.07 million for the same period in 2021, representing an increase of 7.1%[12]. - Noninterest income totaled $20.16 million for the three months ended September 30, 2022, down from $30.10 million for the same period in 2021, a decrease of 33.1%[12]. - Total noninterest expense increased to $100.87 million for the three months ended September 30, 2022, compared to $96.04 million for the same period in 2021, an increase of 5.9%[12]. Credit Losses and Provisions - The allowance for credit losses decreased slightly to $195.55 million as of September 30, 2022, from $197.75 million at December 31, 2021[10]. - The company reported a provision for credit losses of $1,994, a significant improvement compared to a provision of $(56,228) in the prior year[23]. - The ACL for loans held for investment decreased by $526,000, attributed to $1.1 million in net charge-offs and a $546,000 provision for credit losses[169]. Loan Portfolio and Commitments - The total loan portfolio as of September 30, 2022, was $14.9 billion, an increase from $14.3 billion at December 31, 2021, with a net allowance for credit losses of $195.5 million[113]. - The Company reported total unfunded loan commitments of $2.82 billion as of September 30, 2022, compared to $2.51 billion at December 31, 2021[113]. - The largest aggregate outstanding balance of loans to one borrower was $257.3 million as of September 30, 2022, primarily comprised of an asset-based line of credit[119]. Investment Securities - The total amortized cost of AFS investment securities was $2,985.4 million with a fair value of $2,661.1 million as of September 30, 2022, reflecting a gross unrealized loss of $324.3 million[89]. - The Company reported a net unrealized loss on AFS investment securities of $324.3 million as of September 30, 2022, compared to a net unrealized loss of $4.7 million at December 31, 2021[92]. - The total investment securities, including both AFS and HTM, reached $4,370,984,000 with a fair value of $3,716,266,000 as of September 30, 2022[106]. Economic and Market Conditions - Economic forecasts used in the ACL model include scenarios for rising interest rates and ongoing inflationary pressures, impacting future cash flow expectations[162]. - Key economic variables influencing the ACL calculation include the U.S. unemployment rate, U.S. real GDP growth, and CRE prices[164]. Goodwill and Intangible Assets - As of September 30, 2022, the Company reported goodwill of $901.3 million, unchanged from December 31, 2021, with adjustments of $2.7 million related to the Opus acquisition recorded in 2021[173][174]. - Other intangible assets decreased to $59.0 million as of September 30, 2022, from $69.6 million at December 31, 2021, primarily due to amortization[175].

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Q3 2022 Earnings Conference Call October 20, 2022 12:00 PM ET Company Participants Steven Gardner - Chairman and CEO Ronald Nicolas - CFO Conference Call Participants David Feaster - Raymond James Matthew Clark - Piper Sandler Andrew Leischner - KBW Gary Tenner - D.A. Davidson Andrew Terrell - Stephens Inc. Operator Good day and welcome to the Pacific Premier Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recor ...

Investor Presentation Third Quarter 2022 October 20, 2022 Steve Gardner Chairman, Chief Executive Officer, & President sgardner@ppbi.com 949-864-8000 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 PACIFIC PREMIER BANCORP, INC. FORWARD LOOKING STATEMENTS AND WHERE TO FIND MORE INFORMATION Forward Looking Statements This investor presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the f ...

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 transition period from _______ to _______ Commission File Number 0-22193 (Exact name of registrant as specified in its charter) 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF Delaware 33-0743196 (State or other jurisdiction of inco ...

Financial Data and Key Metrics Changes - The company reported a net income of $69.8 million or $0.73 per share, resulting in a 16% return on average tangible common equity [6] - Total revenue increased by $7.2 million to $195 million, with net interest income rising almost 7% compared to the prior quarter [16] - The efficiency ratio improved to 49%, and pre-provision net revenue increased to $96 million or 1.77% of average assets [17] Business Line Data and Key Metrics Changes - Net interest income increased by $10.9 million to $172.8 million, driven by higher average loan balances and interest-earning asset yields [18] - Non-interest income, excluding security gains, decreased by $1.5 million to $22.2 million due to lower trust income [20] - The company generated $1.5 billion in new loan commitments, translating to an annualized loan growth of nearly 10% [8] Market Data and Key Metrics Changes - The cost of core deposits was four basis points during the second quarter, reflecting a stable deposit base [11] - The loan-to-deposit ratio remained flat at just over 83%, with cash balances increasing by $164 million to $973 million at quarter end [26] - Nonperforming loans decreased to 0.3% of loans held for investment, and total delinquency fell to 0.24% [28] Company Strategy and Development Direction - The company is focused on maintaining a balance between profitable growth and prudent risk management, positioning itself for future growth [5] - There is an expectation of a decline in commercial real estate (CRE) production due to lower demand as investors reassess valuations [33] - The company continues to assess all areas for incremental cost savings, including a recent reduction of 53 positions, expected to yield annualized savings of approximately $7 million [35] Management's Comments on Operating Environment and Future Outlook - Management noted stable trends across loan portfolios and no general degradation in borrower cash flows, despite economic uncertainties [31] - The company is optimistic about its ability to navigate the current economic landscape, with commercial clients performing well [32] - There is a cautious outlook regarding credit demand, particularly in the CRE sector, but management believes they are well-positioned for future opportunities [34] Other Important Information - The common tangible equity ratio ended at 8.52%, with a CET1 ratio of 11.91% on a consolidated level [27] - The company transferred approximately $445 million of available-for-sale municipal securities to held-to-maturity to limit future valuation changes [25] - Management emphasized the importance of maintaining a low deposit cost and not overpaying for deposits to create franchise value [76] Q&A Session Summary Question: Follow-up on M&A commentary - Management indicated that M&A conversations have slowed due to current multiples and uncertain outlook, but they remain disciplined in their approach [43][44] Question: Growth and loan rates - Management acknowledged slower demand for credit, particularly in CRE, but expects high single-digit growth to remain sustainable [51][52] Question: Restructuring reasoning - The restructuring was described as trimming around the edges rather than being bloated, in line with activity level outlook [59] Question: NPA relationship and charge-offs - Charge-offs were predominantly related to one non-performing loan, which is expected to be resolved by the end of the quarter [60][61] Question: Deposit balances outlook - Management does not foresee significant roll-off of deposits and plans to manage deposit pricing cautiously [76] Question: Trust and escrow business impact - Fewer transactions in the escrow business may negatively impact earnings, but proactive growth efforts are expected to offset declines [82]

Investor Presentation Second Quarter 2022 July 21, 2022 Steve Gardner Chairman, Chief Executive Officer, & President sgardner@ppbi.com 949-864-8000 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 PACIFIC PREMIER BANCORP, INC. FORWARD LOOKING STATEMENTS AND WHERE TO FIND MORE INFORMATION Forward Looking Statements This investor presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the fin ...