Parent Company Financial Information (Tables) - Corporation

12 Months Ended

Dec. 31, 2018

Parent Company Financial Information

Schedule of condensed balance sheets

Condensed financial statements of the Corporation are as follows:

PACIFIC PREMIER BANCORP, INC.
STATEMENTS OF FINANCIAL CONDITION
(Parent company only)
	At December 31,
	2018		2017
	(dollars in thousands)
Assets
Cash and cash equivalents	$	13,160	$	17,097
Investment in subsidiaries	2,068,077		1,329,961
Other assets	1,689		2,599
Total Assets	$	2,082,926	$	1,349,657
Liabilities
Subordinated debentures	$	110,313	$	105,123
Accrued expenses and other liabilities	2,916		2,538
Total Liabilities	113,229		107,661
Total Stockholders’ Equity	1,969,697		1,241,996
Total Liabilities and Stockholders’ Equity	$	2,082,926	$	1,349,657

Schedule of condensed statements of operations

PACIFIC PREMIER BANCORP, INC.
STATEMENTS OF OPERATIONS
(Parent company only)
	For the Years Ended December 31,
	2018			2017			2016
	(dollars in thousands)
Income
Interest income	$	57		$	36		$	31
Noninterest income	—			—			—
Total income	57			36			31
Expense
Interest expense	6,715			4,720			3,844
Noninterest expense	6,139			8,956			3,769
Total expense	12,854			13,676			7,613
Loss before income tax provision	(12,797		)	(13,640		)	(7,582		)
Income tax benefit	(3,678		)	(5,417		)	(2,785		)
Net loss (parent only)	(9,119		)	(8,223		)	(4,797		)
Equity in net earnings of subsidiaries	132,459			68,323			44,900
Net income	$	123,340		$	60,100		$	40,103

Schedule of condensed statements of cash flows

PACIFIC PREMIER BANCORP, INC.
SUMMARY STATEMENTS OF CASH FLOWS
(Parent company only)
	For the Years Ended December 31,
	2018			2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES	(dollars in thousands)
Net income	$	123,340		$	60,100		$	40,103
Adjustments to reconcile net income to cash used in operating activities:
Share-based compensation expense	9,033			5,809			2,729
Equity in undistributed earnings of subsidiaries and dividends from the bank	(132,459		)	(68,323		)	(44,901		)
Increase (decrease) in accrued expenses and other liabilities	6,464			(365		)	240
(Decrease) increase in current and deferred taxes	(3,682		)	(896		)	—
Decrease (increase) in other assets	(6,888		)	1,714			4,794
Net cash (used in) provided by operating activities	(4,192		)	(1,961		)	2,965
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance cost	—			—			—
Repurchase of common stock	(1,669		)	(1,258		)	(125		)
Proceeds from exercise of options and warrants	1,924			4,592			1,107
Capital contribution to Bank	—			600			7,765
Proceeds from issuance of subordinated debentures	—			—			—
Net cash provided by (used in) financing activities	255			3,934			8,747
Net increase (decrease) in cash and cash equivalents	(3,937		)	1,973			11,712
Cash and cash equivalents, beginning of year	17,097			15,124			3,412
Cash and cash equivalents, end of year	$	13,160		$	17,097		$	15,124