8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)		July 27, 2021
PACIFIC PREMIER BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware	0-22193		33-0743196
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)

17901 Von Karman Avenue, Suite 1200, Irvine, CA 92614

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (949) 864-8000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	PPBI	NASDAQ Global Select Market

ITEM 2.02         RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 27, 2021, Pacific Premier Bancorp, Inc. (“PPBI”) issued a press release setting forth its (unaudited) financial results for the second quarter of 2021. A copy of PPBI's press release is furnished as Exhibit 99.1 and hereby incorporated by reference. A presentation regarding PPBI’s financial results for the three months ended June 30, 2021 is furnished as Exhibit 99.2 and incorporated herein by reference.

The information furnished under Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of PPBI under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

ITEM 8.01         OTHER EVENTS

Quarterly Dividend

On July 23, 2021, PPBI’s Board of Directors declared a $0.33 per share dividend, payable on August 13, 2021 to shareholders of record on August 6, 2021.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

99.1	Press Release dated July 27, 2021
99.2	Investor Presentation, Second Quarter 2021
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PACIFIC PREMIER BANCORP, INC.
Dated:	July 27, 2021	By:	/s/ STEVEN R. GARDNER
			Steven R. Gardner
			Chairman, President, and Chief Executive Officer

EX-99.1

Exhibit 99.1

Pacific Premier Bancorp, Inc. Announces Second Quarter 2021 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share

Second Quarter 2021 Summary

•Net income of $96.3 million, or $1.01 per diluted share

•Return on average assets of 1.90%, return on average equity of 14.02%, and return on average tangible common equity of 22.45%(1)

•Tangible book value increases to $19.38, compared with $18.19 at March 31, 2021(1)

•Net interest margin of 3.44% and core net interest margin of 3.22%(1)

•Cost of deposits of 0.08% in the second quarter compared with 0.11% in the prior quarter

•Non-maturity deposits of $15.8 billion, or 92.6% of total deposits

•Noninterest-bearing deposits represent 39.8% of total deposits

•Nonperforming assets represent 0.17% of total assets

    Irvine, Calif., July 27, 2021 -- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company” or “Pacific Premier”), the holding company of Pacific Premier Bank (the “Bank”), reported net income of $96.3 million, or $1.01 per diluted share, for the second quarter of 2021, compared with net income of $68.7 million, or $0.72 per diluted share, for the first quarter of 2021, and net loss of $99.1 million, or $(1.41) per diluted share, for the second quarter of 2020.

    For the quarter ended June 30, 2021, the Company’s return on average assets (“ROAA”) was 1.90%, return on average equity (“ROAE”) was 14.02%, and return on average tangible common equity (“ROATCE”) was 22.45%, compared to 1.37%, 9.99%, and 16.21%, respectively, for the first quarter of 2021 and (2.61)%, (17.76)%, and (29.40)%, respectively, for the second quarter of 2020. Total assets were $20.53 billion at June 30, 2021, compared to $20.17 billion at March 31, 2021, and $20.52 billion at June 30, 2020. A reconciliation of the non-U.S. generally accepted accounting principles (“GAAP”) measure of ROATCE to the GAAP measure of ROAE is set forth at the end of this press release.

Steven R. Gardner, Chairman, President, and Chief Executive Officer of the Company, commented, “We continue to realize the benefits of increased size and scale, which has enabled us to generate a high level of profitability despite the challenging interest rate environment. Our performance has resulted in strong growth in our tangible book value per share from the prior quarter and allowed us to continue to return significant capital to shareholders through our common stock dividend.

“We are leveraging the collective strengths of our larger organization, and our teams are working well together to add new clients and expand existing business relationships. This is resulting in strong inflows of low-cost deposits from all of our banking groups, as well as higher levels of loan production. During the second quarter, we generated $1.58 billion in new loan commitments, an increase of 36.7% compared to the prior quarter, while loan fundings increased 54.5% resulting in annualized total loan growth of 14.5%. The increased loan production allowed us to further remix the balance sheet towards higher yielding assets.

“While we are seeing signs of improving demand, there continue to be uncertainties surrounding the COVID-19 pandemic. However, we believe that we are well positioned to deliver consistent financial performance and to capitalize on stronger credit demand as the economy progresses,” said Mr. Gardner.

(1)Reconciliations of the non-GAAP measures are set forth at the end of this press release.

1

FINANCIAL HIGHLIGHTS

	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands, except per share data)	2021			2021			2020
Financial highlights (unaudited)
Net income (loss)	$	96,302		$	68,668		$	(99,091)
Diluted earnings (loss) per share	1.01			0.72			(1.41)
Common equity dividend per share paid	0.33			0.30			0.25
Return on average assets	1.90		%	1.37		%	(2.61)		%
Return on average equity	14.02			9.99			(17.76)
Return on average tangible common equity (1)	22.45			16.21			(29.40)
Pre-provision net revenue on average assets (1)	1.84			1.86			1.60
Net interest margin	3.44			3.55			3.79
Core net interest margin (1)	3.22			3.30			3.59
Cost of deposits	0.08			0.11			0.32
Efficiency ratio (1)	49.4			48.6			52.9
Noninterest expense (excluding merger-related expense) as a percent of average assets (1)	1.86		%	1.85		%	2.02		%
Total assets	$	20,529,486		$	20,173,298		$	20,517,074
Total deposits	17,015,097			16,740,007			16,976,693
Loans to deposit ratio	79.9		%	78.4		%	88.8		%
Non-maturity deposits as a percent of total deposits	92.6			91.8			88.7
Book value per share	$	29.72		$	28.56		$	28.14
Tangible book value per share (1)	19.38			18.19			17.58
Total risk-based capital ratio	15.61		%	16.26		%	15.69		%

______________________________

(1) Reconciliations of the non-GAAP measures are set forth at the end of this press release.

INCOME STATEMENT HIGHLIGHTS

Net Interest Income and Net Interest Margin

Net interest income totaled $160.9 million in the second quarter of 2021, a decrease of $718,000, or 0.4%, from the first quarter of 2021. The decrease in net interest income reflected lower average loan yields and fees, partially offset by one more day of interest and a lower cost of funds.

The net interest margin for the second quarter of 2021 was 3.44%, compared with 3.55% in the prior quarter. Our core net interest margin, which excludes the impact of loan accretion income of $9.5 million, compared to $9.9 million in the prior quarter, certificates of deposit mark-to-market amortization, and other adjustments, decreased 8 basis points to 3.22%, compared to 3.30% in the prior quarter. The decrease was driven by lower average loan yields and fees, partially offset by a lower cost of funds.

Net interest income for the second quarter of 2021 increased $30.6 million, or 23.5%, compared to the second quarter of 2020. The increase was attributable to an increase in average interest-earning assets of $4.95 billion, which primarily resulted from the acquisition of Opus Bank (“Opus”) in the second quarter of 2020.

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PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCES AND YIELD DATA
(Unaudited)
	Three Months Ended
	June 30, 2021						March 31, 2021						June 30, 2020
(Dollars in thousands)	Average Balance		Interest Income/Expense		Average  Yield/  Cost		Average Balance		Interest Income/Expense		Average  Yield/  Cost		Average Balance		Interest Income/Expense		Average Yield/ Cost
Assets
Cash and cash equivalents	$	1,323,186	$	315	0.10	%	$	1,309,366	$	301	0.09	%	$	796,761	$	215	0.11	%
Investment securities	4,243,644		18,012		1.70		4,087,451		17,468		1.71		1,792,432		10,568		2.36
Loans receivable, net (1) (2)	13,216,973		152,365		4.62		13,093,609		155,225		4.81		11,242,721		133,339		4.77
Total interest-earning assets	$	18,783,803	$	170,692	3.64		$	18,490,426	$	172,994	3.79		$	13,831,914	$	144,122	4.19
Liabilities
Interest-bearing deposits	$	10,395,002	$	3,265	0.13		$	10,420,199	$	4,426	0.17		$	7,317,675	$	9,655	0.53
Borrowings	486,718		6,493		5.35		523,565		6,916		5.36		431,181		4,175		3.89
Total interest-bearing liabilities	$	10,881,720	$	9,758	0.36		$	10,943,764	$	11,342	0.42		$	7,748,856	$	13,830	0.72
Noninterest-bearing deposits	$	6,341,063					$	6,034,319					$	4,970,812
Net interest income			$	160,934					$	161,652					$	130,292
Net interest margin (3)					3.44						3.55						3.79
Cost of deposits					0.08						0.11						0.32
Cost of funds (4)					0.23						0.27						0.44
Ratio of interest-earning assets to interest-bearing liabilities					172.62						168.96						178.50

______________________________

(1) Average balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs and discounts/premiums.

(2) Interest income includes net discount accretion of $9.5 million, $9.9 million, and $5.8 million, respectively.

(3) Represents annualized net interest income divided by average interest-earning assets.

(4) Represents annualized total interest expense divided by the sum of average total interest-bearing liabilities and noninterest-bearing deposits.

Provision for Credit Losses

    For the second quarter of 2021, the Bank recorded a $38.5 million provision recapture, a decrease of $40.5 million from the $2.0 million provision expense recognized during the first quarter of 2021, and a decrease of $199.1 million from the $160.6 million provision expense recognized during the second quarter of 2020. The decrease from the first quarter of 2021 was comprised of a $33.1 million provision recapture for loan loss and a $5.3 million provision recapture for unfunded commitments. The decrease during the second quarter of 2021 was primarily due to improved economic forecasts used in the Company’s CECL model relative to prior periods and the continued strong asset quality profile of the loan portfolio. The provision expense in the second quarter of 2020 reflected unfavorable changes in economic forecasts related to the onset of the COVID-19 pandemic and the Day 1 provision for credit losses of $84.4 million resulting from the acquisition of Opus.

	Three Months Ended
	June 30,		March 31,		June 30,
(Dollars in thousands)	2021		2021		2020
Provision for credit losses
Provision for loan losses	$	(33,131)	$	315	$	150,257
Provision for unfunded commitments	(5,345)		1,659		10,378
Total provision for credit losses	$	(38,476)	$	1,974	$	160,635

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Noninterest Income

Noninterest income for the second quarter of 2021 was $26.7 million, an increase of $3.0 million from the first quarter of 2021. The increase was primarily due to a $1.2 million increase in net gain from loan sales, a $1.0 million increase in net gain from sales of investment securities, and a $675,000 increase in trust custodial account fees, partially offset by a $647,000 decrease in other income.

During the second quarter of 2021, the Bank sold $14.7 million of SBA loans for a net gain of $1.5 million, compared to the sales of $1.3 million of SBA loans for a net gain of $69,000 and fully charged-off loans for a net gain of $292,000 during the first quarter of 2021.

Additionally, during the second quarter of 2021, the Bank sold $280.2 million of investment securities for a net gain of $5.1 million, compared to the sales of $175.3 million of investment securities for a net gain of $4.0 million in the first quarter of 2021.

Noninterest income for the second quarter of 2021 increased $19.8 million, or 287.5%, compared to the second quarter of 2020. The increase was primarily due to a $5.5 million increase in trust custodial account fees and a $1.4 million increase in escrow and exchange fees following the Opus acquisition.

The net gain from sales of loans for the second quarter of 2021 increased from the same period last year primarily due to the sales of $14.7 million of SBA loans for a net gain of $1.5 million, compared with the sales of $15.4 million of other loans for a net loss of $2.0 million during the second quarter of 2020.

	Three Months Ended
	June 30,		March 31,		June 30,
(Dollars in thousands)	2021		2021		2020
Noninterest income
Loan servicing income	$	622	$	458	$	434
Service charges on deposit accounts	2,222		2,032		1,399
Other service fee income	352		473		297
Debit card interchange fee income	1,099		787		457
Earnings on BOLI	2,279		2,233		1,314
Net gain (loss) from sales of loans	1,546		361		(2,032)
Net gain (loss) from sales of investment securities	5,085		4,046		(21)
Trust custodial account fees	7,897		7,222		2,397
Escrow and exchange fees	1,672		1,526		264
Other income	3,955		4,602		2,389
Total noninterest income	$	26,729	$	23,740	$	6,898

4

Noninterest Expense

Noninterest expense totaled $94.5 million for the second quarter of 2021, an increase of $2.0 million compared to the first quarter of 2021, primarily driven by a $926,000 increase in compensation and benefits primarily attributable to higher business incentives associated with higher loan and deposit production, and an $821,000 increase in other expense largely due to a $518,000 increase in community development support.

Noninterest expense decreased by $21.5 million compared to the second quarter of 2020. The decrease was primarily due to $39.3 million of merger-related expense for the second quarter of 2020 relating to the Opus acquisition. Excluding merger-related expense, noninterest expense increased $17.9 million compared to the second quarter of 2020, primarily due to a $10.5 million increase in compensation and benefits, a $2.8 million increase in premises and occupancy expense, all predominately as a result of the additional operations, personnel, branches, and divisions retained with the acquisition of Opus.

	Three Months Ended
	June 30,		March 31,		June 30,
(Dollars in thousands)	2021		2021		2020
Noninterest expense
Compensation and benefits	$	53,474	$	52,548	$	43,011
Premises and occupancy	12,240		11,980		9,487
Data processing	5,765		5,828		4,465
Other real estate owned operations, net	—		—		9
FDIC insurance premiums	1,312		1,181		846
Legal and professional services	4,186		3,935		3,094
Marketing expense	1,490		1,598		1,319
Office expense	1,589		1,829		1,533
Loan expense	1,165		1,115		823
Deposit expense	3,985		3,859		4,958
Merger-related expense	—		5		39,346
Amortization of intangible assets	4,001		4,143		4,066
Other expense	5,289		4,468		3,013
Total noninterest expense	$	94,496	$	92,489	$	115,970

Income Tax

For the second quarter of 2021, our income tax expense totaled $35.3 million, resulting in an effective tax rate of 26.8%, compared with income tax expense of $22.3 million and an effective tax rate of 24.5% for the first quarter of 2021, and income tax benefit of $40.3 million and an effective tax rate of 28.9% for the second quarter of 2020. Based on our actual and projected level of earnings for 2021, our estimated effective tax rate for the full year is expected to be in the range of 25 to 27%.

5

BALANCE SHEET HIGHLIGHTS

Loans

Loans held for investment totaled $13.59 billion at June 30, 2021, an increase of $477.2 million, or 3.6%, from March 31, 2021, and a decrease of $1.49 billion, or 9.9%, from June 30, 2020. The increase from March 31, 2021 was driven by higher loan production, partially offset by loan prepayments, maturities, and sales in the second quarter of 2021. The decrease in loans held for investment from June 30, 2020 was primarily driven by the sale of $1.13 billion of SBA PPP loans in the third quarter of 2020.

During the second quarter of 2021, the Bank generated $1.58 billion of loan commitments and funded $1.15 billion of new loans, compared with $1.15 billion in loan commitments and $746.3 million in funded loans for the first quarter of 2021, and $1.21 billion in loan commitments and $1.19 billion in funded loans for the second quarter of 2020, of which $1.13 billion was SBA PPP loans. Business line commitments totaled $2.59 billion with an average utilization rate of 31.96% for the second quarter of 2021, compared with business line commitments of $2.44 billion with an average utilization rate of 34.06% for the first quarter of 2021, and business line commitments of $2.21 billion with an average utilization rate of 43.98% for the second quarter of 2020.

At June 30, 2021, the ratio of loans held for investment to total deposits was 79.9%, compared with 78.4% and 88.8% at March 31, 2021 and June 30, 2020, respectively.

The following table presents the primary loan roll-forward activities for total loans, including both loans held for investment and loans held for sale, during the quarters indicated:

	Three Months Ended
(Dollars in thousands)	June 30, 2021		March 31, 2021
Beginning loan balance	$	13,124,703	$	13,237,034
New commitments	1,576,884		1,153,345
Unfunded new commitments	(423,797)		(407,047)
Net new fundings	1,153,087		746,298
Amortization/maturities/payoffs	(821,502)		(773,170)
Net draws on existing lines of credit	161,273		(82,472)
Loan sales	(14,959)		(1,035)
Charge-offs	(3,290)		(1,952)
Net increase (decrease)	474,609		(112,331)
Ending loan balance	$	13,599,312	$	13,124,703

6

The following table presents the composition of the loan portfolio as of the dates indicated:

	June 30,		March 31,		June 30,
(Dollars in thousands)	2021		2021		2020
Investor loans secured by real estate
Commercial real estate (“CRE”) non-owner-occupied	$	2,810,233	$	2,729,785	$	2,783,692
Multifamily	5,539,464		5,309,592		5,225,557
Construction and land	297,728		316,458		357,426
SBA secured by real estate (1)	53,003		56,381		59,482
Total investor loans secured by real estate	8,700,428		8,412,216		8,426,157
Business loans secured by real estate (2)
CRE owner-occupied	2,089,300		2,029,984		2,170,154
Franchise real estate secured	358,120		340,805		364,647
SBA secured by real estate (3)	72,923		73,967		85,542
Total business loans secured by real estate	2,520,343		2,444,756		2,620,343
Commercial loans (4)
Commercial and industrial	1,795,144		1,656,098		2,051,313
Franchise non-real estate secured	401,315		399,041		523,755
SBA non-real estate secured	13,900		14,908		21,057
SBA PPP	—		—		1,128,780
Total commercial loans	2,210,359		2,070,047		3,724,905
Retail loans
Single family residential (5)	157,228		184,049		265,170
Consumer	6,240		6,324		46,309
Total retail loans	163,468		190,373		311,479
Gross loans held for investment (6)	13,594,598		13,117,392		15,082,884
Allowance for credit losses for loans held for investment	(232,774)		(266,999)		(282,271)
Loans held for investment, net	$	13,361,824	$	12,850,393	$	14,800,613
Total unfunded loan commitments	$	2,345,364	$	2,243,650	$	1,885,163
Loans held for sale, at lower of cost or fair value	$	4,714	$	7,311	$	1,007

______________________________

(1) SBA loans that are collateralized by hotel/motel real property.

(2) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(3) SBA loans that are collateralized by real property other than hotel/motel real property.

(4) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(5) Single family residential includes home equity lines of credit, as well as second trust deeds.

(6) Includes unaccreted fair value net purchase discounts of $94.4 million, $103.9 million, and $144.5 million as of June 30, 2021, March 31, 2021, and June 30, 2020, respectively.

The total end-of-period weighted average interest rate on loans, excluding fees and discounts, at June 30, 2021 was 4.11%, compared to 4.21% at March 31, 2021 and 4.12%, or 4.46% excluding SBA PPP loans, at June 30, 2020. The quarter-over-quarter and year-over-year decreases reflect the impact of lower rates on new originations and the continued impact from prepayments of higher rate loans.

7

The following table presents the composition of loan commitments originated during the quarters indicated:

	June 30,		March 31,		June 30,
(Dollars in thousands)	2021		2021		2020
Investor loans secured by real estate
CRE non-owner-occupied	$	181,995	$	128,408	$	11,811
Multifamily	631,360		407,156		24,425
Construction and land	148,422		94,124		6,210
Total investor loans secured by real estate	961,777		629,688		42,446
Business loans secured by real estate (1)
CRE owner-occupied	181,385		110,353		17,594
Franchise real estate secured	39,320		24,429		—
SBA secured by real estate (2)	13,445		4,101		1,204
Total business loans secured by real estate	234,150		138,883		18,798
Commercial loans (3)
Commercial and industrial	316,162		352,530		23,782
Franchise non-real estate secured	41,501		17,647		—
SBA non-real estate secured	1,000		686		315
SBA PPP	—		—		1,124,485
Total commercial loans	358,663		370,863		1,148,582
Retail loans
Single family residential (4)	14,744		13,353		2,137
Consumer	7,550		558		195
Total retail loans	22,294		13,911		2,332
Total loan commitments	$	1,576,884	$	1,153,345	$	1,212,158

______________________________

(1) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(2) SBA loans that are collateralized by real property other than hotel/motel real property.

(3) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(4) Single family residential includes home equity lines of credit, as well as second trust deeds.

The weighted average interest rate on new loan commitments was 3.59% in the second quarter of 2021, compared with 3.63% in the first quarter of 2021 and 1.21%, or 3.97% excluding SBA PPP loans, in the second quarter of 2020.

Asset Quality and Allowance for Credit Losses

At June 30, 2021, our allowance for credit losses (“ACL”) on loans held for investment was $232.8 million, a decrease of $34.2 million from March 31, 2021, and a decrease of $49.5 million from June 30, 2020. The decrease in ACL is primarily due to the provision for credit loss recapture during the current quarter, reflective of improving economic forecasts employed in the Company's CECL model relative to the prior quarter and the continued strong asset quality profile of the loan portfolio, partially offset by an increase in loans held for investment during the quarter. The decrease from June 30, 2020 was primarily due to changes in economic forecasts employed in the Company's CECL model related to the COVID-19 pandemic and lower loans held for investment.

During the second quarter of 2021, the Company incurred $1.1 million of net charge-offs, compared to $1.3 million and $4.7 million during the first quarter of 2021 and the second quarter of 2020, respectively.

8

The following table provides the allocation of the ACL for loans held for investment as well as the activity in the ACL attributed to various segments in the loan portfolio as of and for the period indicated:

	Three Months Ended June 30, 2021
(Dollars in thousands)	Beginning ACL Balance		Charge-offs		Recoveries		Provision for Credit Losses		Ending ACL Balance
Investor loans secured by real estate
CRE non-owner occupied	$	45,545	$	—	$	—	$	1,567	$	47,112
Multifamily	79,815		—		—		(20,756)		59,059
Construction and land	13,263		—		—		(3,715)		9,548
SBA secured by real estate (1)	5,141		—		—		(460)		4,681
Business loans secured by real estate (2)
CRE owner-occupied	41,594		—		15		(5,862)		35,747
Franchise real estate secured	10,876		—		—		560		11,436
SBA secured by real estate (3)	6,451		—		80		(214)		6,317
Commercial loans (4)
Commercial and industrial	43,373		(3,290)		2,098		(2,302)		39,879
Franchise non-real estate secured	18,903		—		—		(1,590)		17,313
SBA non-real estate secured	890		—		2		(162)		730
Retail loans
Single family residential (5)	822		—		1		(153)		670
Consumer loans	326		—		—		(44)		282
Totals	$	266,999	$	(3,290)	$	2,196	$	(33,131)	$	232,774

______________________________

(1) SBA loans that are collateralized by hotel/motel real property.

(2) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(3) SBA loans that are collateralized by real property other than hotel/motel real property.

(4) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(5) Single family residential includes home equity lines of credit, as well as second trust deeds.

The ratio of allowance for credit losses to loans held for investment at June 30, 2021 was 1.71%, compared to 2.04% at March 31, 2021 and 2.02% at June 30, 2020, excluding SBA PPP loans. Under the guidance of ASC 820: Fair Value Measurements and Disclosures, the fair value net discount on loans acquired through total bank acquisitions was $94.4 million, or 0.69% of total loans held for investment, as of June 30, 2021, compared to $103.9 million, or 0.79%of total loans held for investment, as of March 31, 2021, and $144.5 million, or 1.03% of total loans held for investment excluding SBA PPP loans, as of June 30, 2020.

Nonperforming assets totaled $34.4 million, or 0.17% of total assets, at June 30, 2021, compared with $38.9 million, or 0.19% of total assets, at March 31, 2021, and $34.2 million, or 0.17% of total assets, at June 30, 2020. During the second quarter of 2021, nonperforming loans decreased $4.5 million to $34.4 million from March 31, 2021. Total loan delinquencies were $19.3 million, or 0.14% of loans held for investment, at June 30, 2021, compared to $22.6 million, or 0.17% of loans held for investment, at March 31, 2021, and $38.2 million, or 0.25% of loans held for investment, at June 30, 2020.

Classified loans totaled $131.4 million, or 0.97% of loans held for investment, at June 30, 2021, compared with $134.7 million, or 1.03% of loans held for investment, at March 31, 2021, and $89.9 million, or 0.60% of loans held for investment, at June 30, 2020. The year-over-year increase was driven, in part, by the migration to the substandard risk grade of approximately $56.4 million of loans subject to temporary loan modifications relating to COVID-19 under the CARES Act during 2020, as well as the net changes in risk ratings.

9

Interest is not typically accrued on loans 90 days or more past due or when, in the opinion of management, there is reasonable doubt as to the timely collection of principal or interest. There were no loans 90 days or more past due and still accruing interest at June 30, 2021. There were six troubled debt restructured loans belonging to two borrower relationships totaling $17.8 million at June 30, 2021, compared to no troubled debt restructured loans at March 31, 2021 and $700,000 at June 30, 2020.

At June 30, 2021, there was one residential loan for $819,000 classified as a COVID-19 modification under Section 4013 of the CARES Act. Additionally, as of June 30, 2021, there were no loans in-process for potential modification. At March 31, 2021, there were no loans remaining within their modification period and no loans were in-process for potential modification.

	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Asset quality
Nonperforming loans	$	34,387		$	38,909		$	33,825
Other real estate owned	—			—			386
Nonperforming assets	$	34,387		$	38,909		$	34,211
Total classified assets (1)	$	131,350		$	134,667		$	90,334
Allowance for credit losses	232,774			266,999			282,271
Allowance for credit losses as a percent of total nonperforming loans	677		%	686		%	835		%
Nonperforming loans as a percent of loans held for investment	0.25			0.30			0.22
Nonperforming assets as a percent of total assets	0.17			0.19			0.17
Classified loans to total loans held for investment	0.97			1.03			0.60
Classified assets to total assets	0.64			0.67			0.44
Net loan charge-offs for the quarter ended	$	1,094		$	1,334		$	4,650
Net loan charge-offs for the quarter to average total loans	0.01		%	0.01		%	0.04		%
Allowance for credit losses to loans held for investment (2)	1.71			2.04			1.87
Loans modified under the CARES Act	$	819		$	—		$	2,244,974
Loans modified under the CARES Act as a percent of loans held for investment	0.01		%	—		%	14.88		%
Delinquent loans
30 - 59 days	$	207		$	13,116		$	6,248
60 - 89 days	83			61			4,133
90+ days	19,045			9,410			27,807
Total delinquency	$	19,335		$	22,587		$	38,188
Delinquency as a percentage of loans held for investment	0.14		%	0.17		%	0.25		%

______________________________

(1) Includes substandard loans and other real estate owned.

(2) At June 30, 2021, 45% of loans held for investment include a fair value net discount of $94.4 million, or 0.69% of loans held for investment. At March 31, 2021, 51% of loans held for investment include a fair value net discount of $103.9 million, or 0.79% of loans held for investment. At June 30, 2020, 56% of loans held for investment include a fair value net discount of $144.5 million, or 1.03% of loans held for investment excluding SBA PPP loans.

10

Investment Securities

Investment securities totaled $4.51 billion at June 30, 2021, an increase of $627.1 million from March 31, 2021, and an increase of $2.14 billion from June 30, 2020. The increase in the second quarter of 2021 compared to the prior quarter was primarily the result of $968.1 million in purchases and a $58.4 million increase in mark-to-market fair value adjustment, partially offset by $280.2 million in sales and $119.2 million in principal payments, amortization, and redemptions. The increase in investment securities from June 30, 2020 was primarily the result of $3.57 billion in purchases, partially offset by $869.5 million in sales, $515.0 million in principal payments, amortization, and redemptions, and a $44.5 million decrease in mark-to-market fair value adjustment. The Company’s assessment of held-to-maturity and available-for-sale investment securities indicated that no ACL was required with respect to investment securities as of June 30, 2021.

Deposits

At June 30, 2021, deposits totaled $17.02 billion, an increase of $275.1 million, or 1.6%, from March 31, 2021, and an increase of $38.4 million, or 0.2%, from June 30, 2020. At June 30, 2021, non-maturity deposits totaled $15.76 billion, or 92.6% of total deposits, an increase of $386.2 million, or 2.5%, from March 31, 2021, and an increase of $697.5 million, or 4.6%, from June 30, 2020. During the second quarter of 2021, deposit increases included $465.7 million in noninterest-bearing deposits, primarily driven by an increase in business deposit account balances, partially offset by decreases of $93.7 million in retail certificates of deposits, $51.7 million in interest-bearing checking deposits, $27.7 million in money market and savings deposits, and $17.4 million in brokered certificates of deposit as compared to the first quarter of 2021.

The weighted average cost of deposits for the second quarter of 2021 was 0.08%, compared to 0.11% for the first quarter of 2021, and 0.32% for the second quarter of 2020, including the favorable impact of the acquired certificates of deposit mark-to-market amortization of 0.02%, 0.04%, and 0.03%, respectively. The decrease in the weighted average cost of deposits in the second quarter of 2021 compared to the prior quarters was principally driven by lower pricing as well as deposit mix.

The end of period weighted average rate of deposits at June 30, 2021 was 0.08%.

	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Deposit accounts
Noninterest-bearing checking	$	6,768,384		$	6,302,703		$	5,899,442
Interest-bearing:
Checking	3,103,343			3,155,071			3,098,454
Money market/savings	5,883,672			5,911,417			6,060,031
Retail certificates of deposit	1,259,698			1,353,431			1,651,976
Wholesale/brokered certificates of deposit	—			17,385			266,790
Total interest-bearing	10,246,713			10,437,304			11,077,251
Total deposits	$	17,015,097		$	16,740,007		$	16,976,693
Cost of deposits	0.08		%	0.11		%	0.32		%
Noninterest-bearing deposits as a percentage of total deposits	39.8			37.7			34.8
Non-maturity deposits as a percent of total deposits	92.6			91.8			88.7
Core deposits as a percent of total deposits (1)	96.5			96.2			94.9

______________________________

(1) Core deposits are all transaction accounts and non-brokered certificates of deposit less than $250,000.

11

Borrowings

At June 30, 2021, total borrowings amounted to $476.6 million, a decrease of $35.0 million from March 31, 2021, and a decrease of $65.8 million from June 30, 2020. Total borrowings at June 30, 2021 is comprised of $476.6 million of subordinated debt. The decrease in borrowings at June 30, 2021 as compared to March 31, 2021 was primarily due to the redemption of $25 million in subordinated notes in April 2021 and the maturity of the remaining $10.0 million Federal Home Loan Bank of San Francisco ("FHLB") advances. The decrease in borrowings at June 30, 2021 as compared to June 30, 2020 was primarily due to the redemption of $25 million in subordinated notes and the redemption of $41.0 million in FHLB advances.

Capital Ratios

At June 30, 2021, our common stockholder's equity was $2.81 billion, or 13.70% of total assets, compared with $2.70 billion, or 13.40%, at March 31, 2021, and $2.65 billion, or 12.94%, at June 30, 2020, with a book value per share of $29.72, compared with $28.56 at March 31, 2021, and $28.14 at June 30, 2020. At June 30, 2021, our ratio of tangible common equity to total assets was 9.38%, compared with 8.97% at March 31, 2021, and 8.50% at June 30, 2020, with a tangible book value per share of $19.38, compared with $18.19 at March 31, 2021, and $17.58 at June 30, 2020. Reconciliations of the non-GAAP measures of tangible common equity ratio and tangible book value per share to the GAAP measures of common stockholders' equity and book value per share, respectively, are set forth at the end of this press release.

The Company implemented the CECL model on January 1, 2020 and elected to phase in the full effect of CECL on regulatory capital over the five-year transition period. At June 30, 2021, the Company had a tier 1 leverage ratio of 9.83%, common equity tier 1 capital ratio of 11.89%, tier 1 capital ratio of 11.89%,and total capital ratio of 15.61%. At June 30, 2021, the Bank had a tier 1 leverage ratio of 11.31%, common equity tier 1 capital ratio of 13.67%, tier 1 capital ratio of 13.67%, and total capital ratio of 15.44%. The capital ratios of the Company and the Bank exceeded the “well capitalized” standards defined by the federal banking regulators of 5.00% for tier 1 leverage ratio, 6.50% for common equity tier 1 capital ratio, 8.00% for tier 1 capital ratio, and 10.00% for total capital ratio and exceeded the minimum capital ratio levels inclusive of the fully phased-in capital conservation buffer of 4.00%, 7.00%, 8.50%, and 10.50%, respectively.

12

	June 30,			March 31,			June 30,
Capital ratios	2021			2021			2020
Pacific Premier Bancorp, Inc. Consolidated
Tier 1 leverage ratio	9.83		%	9.66		%	12.00		%
Common equity tier 1 risk-based capital ratio	11.89			12.05			11.32
Tier 1 capital ratio	11.89			12.05			11.32
Total capital ratio	15.61			16.26			15.69
Tangible common equity ratio (1)	9.38			8.97			8.50
Pacific Premier Bank
Tier 1 leverage ratio	11.31		%	11.13		%	13.49		%
Common equity tier 1 risk-based capital ratio	13.67			13.90			12.73
Tier 1 capital ratio	13.67			13.90			12.73
Total capital ratio	15.44			15.92			14.81
Share data
Book value per share	$	29.72		$	28.56		$	28.14
Tangible book value per share (1)	19.38			18.19			17.58
Common equity dividends declared per share	0.33			0.30			0.25
Closing stock price (2)	42.29			43.44			21.68
Shares issued and outstanding	94,656,575			94,644,415			94,350,902
Market capitalization (2)(3)	$	4,003,027		$	4,111,353		$	2,045,528

______________________________

(1) A reconciliation of the GAAP measures of tangible common equity and tangible book value per share to the GAAP measures of common stockholders' equity and book value per share, respectively, is set forth at the end of this press release.

(2) As of the last trading day prior to period end.

(3) Dollars in thousands.

Dividend and Stock Repurchase Program

On July 23, 2021, the Company's Board of Directors declared a $0.33 per share dividend, payable on August 13, 2021 to stockholders of record as of August 6, 2021. In January 2021, the Company’s Board of Directors approved a new stock repurchase program, which authorized the repurchase of up to 4,725,000 shares of its common stock. During the first quarter of 2021, the Company repurchased 199,674 shares of common stock at an average price of $34.51 per share with a total market value of $6.9 million under its stock repurchase program. The Company did not repurchase additional shares during the second quarter ended June 30, 2021.

Subsequent Events

On July 1, 2021, the Company redeemed $135.0 million subordinated notes acquired from Opus and $5.2 million junior subordinated debt associated with Heritage Oaks Capital Trust II. On July 7, 2021, the Company redeemed $5.2 million junior subordinated debt associated with Santa Lucia Bancorp (CA) Capital Trust. The subordinated notes and junior subordinated debt were redeemed at par, plus accrued and unpaid interest, for an aggregate amount of $149.2 million. The Company recorded a net gain on early debt extinguishment of $970,000 related to purchase accounting adjustments.

13

On July 16, 2021, the Bank consolidated two branch offices in San Luis Obispo County of California into nearby branch offices with minimal disruption to clients and daily operations. The consolidated branches were identified largely based on the proximity of neighboring branches, deposit base, historic growth, and market opportunity to improve further the overall efficiency of operations, as well as the Bank's goals related to Fair Lending and the Community Reinvestment Act. After the branch consolidations, the Bank operates 63 branches in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada.

14

Conference Call and Webcast

    The Company will host a conference call at 9:00 a.m. PT / 12:00 p.m. ET on July 27, 2021 to discuss its financial results. Analysts and investors may participate in the question-and-answer session. A live webcast will be available on the Webcasts page of the Company's investor relations website. An archived version of the webcast will be available in the same location shortly after the live call has ended. The conference call can be accessed by telephone at (866) 290-5977 and asking to be joined to the Pacific Premier Bancorp conference call. Additionally, a telephone replay will be made available through August 3, 2021 at (877) 344-7529, conference ID 10157972.

About Pacific Premier Bancorp, Inc.

    Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) is the parent company of Pacific Premier Bank, a California-based commercial bank focused on serving small, middle-market, and corporate businesses throughout the western United States in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada. Founded in 1983, Pacific Premier Bank has grown to become one of the largest banks headquartered in the western region of the United States, with over $20 billion in total assets. Pacific Premier Bank provides banking products and services, including deposit accounts, digital banking, and treasury management services, to businesses, professionals, entrepreneurs, real estate investors, and nonprofit organizations. Pacific Premier Bank also offers a wide array of loan products, such as commercial business loans, lines of credit, SBA loans, commercial real estate loans, agribusiness loans, franchise lending, home equity lines of credit, and construction loans. Pacific Premier Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow division. Pacific Premier Bank offers clients IRA custodial services through its Pacific Premier Trust division, which has over $17 billion of assets under custody and approximately 44,000 client accounts comprised of self-directed investors, financial institutions, capital syndicators, and financial advisors. Additionally, Pacific Premier Bank provides nationwide customized banking solutions to Homeowners’ Associations and Property Management companies. Pacific Premier Bank is an Equal Housing Lender and Member FDIC. For additional information about Pacific Premier Bancorp, Inc. and Pacific Premier Bank, visit our website: www.ppbi.com.

FORWARD-LOOKING STATEMENTS

    The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, stockholder value creation, tax rates, and the impact of acquisitions we have made or may make.

    Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. Given the ongoing and dynamic nature of the COVID-19 pandemic, the ultimate extent of the impacts on our business, financial position, results of operations, liquidity and prospects remain uncertain. Continued deterioration in general business and economic conditions, including further increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and further increase stock price volatility, which could result in impairment to our goodwill in future periods. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to the COVID-19 pandemic, could affect us in substantial and unpredictable ways, including the potential adverse impact of loan modifications and payment deferrals implemented consistent with recent regulatory guidance. Other risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market, and monetary fluctuations; the effect of acquisitions we have made

15

or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, and insurance, and the application thereof by regulatory bodies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; the transition away from USD LIBOR and uncertainty regarding potential alternative reference rates, including SOFR; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the CECL model, which has changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; possible credit related impairments of securities held by us; possible impairment charges to goodwill; the impact of governmental efforts to restructure the U.S. financial regulatory system; changes in consumer spending, borrowing, and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; our ability to attract deposits and other sources of liquidity; the possibility that we may reduce or discontinue the payments of dividends on our common stock; the possibility that we may discontinue our stock repurchase program or reduce or otherwise limit the level of repurchases of our common stock we may make from time to time pursuant to such program; changes in the financial performance and/or condition of our borrowers; changes in the competitive environment among financial and bank holding companies and other financial service providers; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, and/or military conflicts, which could impact business and economic conditions in the United States and abroad; public health crisis and pandemics, including the COVID-19 pandemic, and their effects on the economic and business environments in which we operate, including on our credit quality and business operations, as well as the impact on general economic and financial market conditions; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national, or global level; unanticipated regulatory or legal proceedings; and our ability to manage the risks involved in the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2020 Annual Report on Form 10-K filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).

    The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

Contacts:

Pacific Premier Bancorp, Inc.

Steven R. Gardner

Chairman, President, and Chief Executive Officer

(949) 864-8000

Ronald J. Nicolas, Jr.

Senior Executive Vice President and Chief Financial Officer

(949) 864-8000

16

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
	June 30,		March 31,		December 31,		September 30,		June 30,
(Dollars in thousands)	2021		2021		2020		2020		2020
ASSETS
Cash and cash equivalents	$	631,888	$	1,554,668	$	880,766	$	1,103,077	$	1,341,730
Interest-bearing time deposits with financial institutions	2,708		2,708		2,845		2,845		2,845
Investments held-to-maturity, at amortized cost	18,933		21,931		23,732		27,980		32,557
Investment securities available-for-sale, at fair value	4,487,447		3,857,337		3,931,115		3,600,731		2,336,066
FHLB, FRB, and other stock, at cost	117,738		117,843		117,055		116,819		94,658
Loans held for sale, at lower of amortized cost or fair value	4,714		7,311		601		1,032		1,007
Loans held for investment	13,594,598		13,117,392		13,236,433		13,450,840		15,082,884
Allowance for credit losses	(232,774)		(266,999)		(268,018)		(282,503)		(282,271)
Loans held for investment, net	13,361,824		12,850,393		12,968,415		13,168,337		14,800,613
Accrued interest receivable	67,529		65,098		74,574		73,112		78,408
Other real estate owned	—		—		—		334		386
Premises and equipment	73,821		76,329		78,884		80,326		76,542
Deferred income taxes, net	81,741		104,450		89,056		108,050		105,859
Bank owned life insurance	444,645		292,932		292,564		290,875		305,901
Intangible assets	77,363		81,364		85,507		90,012		94,550
Goodwill	901,312		900,204		898,569		898,434		901,166
Other assets	257,823		240,730		292,861		282,276		344,786
Total assets	$	20,529,486	$	20,173,298	$	19,736,544	$	19,844,240	$	20,517,074
LIABILITIES
Deposit accounts:
Noninterest-bearing checking	$	6,768,384	$	6,302,703	$	6,011,106	$	5,895,744	$	5,899,442
Interest-bearing:
Checking	3,103,343		3,155,071		2,913,260		2,937,910		3,098,454
Money market/savings	5,883,672		5,911,417		5,662,969		5,778,688		6,060,031
Retail certificates of deposit	1,259,698		1,353,431		1,471,512		1,542,029		1,651,976
Wholesale/brokered certificates of deposit	—		17,385		155,330		176,436		266,790
Total interest-bearing	10,246,713		10,437,304		10,203,071		10,435,063		11,077,251
Total deposits	17,015,097		16,740,007		16,214,177		16,330,807		16,976,693
FHLB advances and other borrowings	—		10,000		31,000		41,000		41,006
Subordinated debentures	476,622		501,611		501,511		501,443		501,375
Accrued expenses and other liabilities	224,348		218,582		243,207		282,905		343,353
Total liabilities	17,716,067		17,470,200		16,989,895		17,156,155		17,862,427
STOCKHOLDERS’ EQUITY
Common stock	931		931		931		930		930
Additional paid-in capital	2,352,112		2,348,445		2,354,871		2,351,532		2,348,415
Retained earnings	433,852		368,911		330,555		289,960		247,078
Accumulated other comprehensive income (loss)	26,524		(15,189)		60,292		45,663		58,224
Total stockholders' equity	2,813,419		2,703,098		2,746,649		2,688,085		2,654,647
Total liabilities and stockholders' equity	$	20,529,486	$	20,173,298	$	19,736,544	$	19,844,240	$	20,517,074

17

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
	Three Months Ended						Six Months Ended
	June 30,		March 31,		June 30,		June 30,		June 30,
(Dollars in thousands, except per share data)	2021		2021		2020		2021		2020
INTEREST INCOME
Loans	$	152,365	$	155,225	$	133,339	$	307,590	$	246,604
Investment securities and other interest-earning assets	18,327		17,769		10,783		36,096		21,307
Total interest income	170,692		172,994		144,122		343,686		267,911
INTEREST EXPENSE
Deposits	3,265		4,426		9,655		7,691		20,142
FHLB advances and other borrowings	—		65		217		65		1,298
Subordinated debentures	6,493		6,851		3,958		13,344		7,004
Total interest expense	9,758		11,342		13,830		21,100		28,444
Net interest income before provision for credit losses	160,934		161,652		130,292		322,586		239,467
Provision for credit losses	(38,476)		1,974		160,635		(36,502)		186,089
Net interest income (loss) after provision for credit losses	199,410		159,678		(30,343)		359,088		53,378
NONINTEREST INCOME
Loan servicing income	622		458		434		1,080		914
Service charges on deposit accounts	2,222		2,032		1,399		4,254		3,114
Other service fee income	352		473		297		825		608
Debit card interchange fee income	1,099		787		457		1,886		805
Earnings on BOLI	2,279		2,233		1,314		4,512		2,650
Net gain (loss) from sales of loans	1,546		361		(2,032)		1,907		(1,261)
Net gain (loss) from sales of investment securities	5,085		4,046		(21)		9,131		7,739
Trust custodial account fees	7,897		7,222		2,397		15,119		2,397
Escrow and exchange fees	1,672		1,526		264		3,198		264
Other income	3,955		4,602		2,389		8,557		4,143
Total noninterest income	26,729		23,740		6,898		50,469		21,373
NONINTEREST EXPENSE
Compensation and benefits	53,474		52,548		43,011		106,022		77,387
Premises and occupancy	12,240		11,980		9,487		24,220		17,655
Data processing	5,765		5,828		4,465		11,593		7,718
Other real estate owned operations, net	—		—		9		—		23
FDIC insurance premiums	1,312		1,181		846		2,493		1,213
Legal and professional services	4,186		3,935		3,094		8,121		6,220
Marketing expense	1,490		1,598		1,319		3,088		2,731
Office expense	1,589		1,829		1,533		3,418		2,636
Loan expense	1,165		1,115		823		2,280		1,645
Deposit expense	3,985		3,859		4,958		7,844		9,946
Merger-related expense	—		5		39,346		5		41,070
Amortization of intangible assets	4,001		4,143		4,066		8,144		8,029
Other expense	5,289		4,468		3,013		9,757		6,328
Total noninterest expense	94,496		92,489		115,970		186,985		182,601
Net income (loss) before income taxes	131,643		90,929		(139,415)		222,572		(107,850)
Income tax expense (benefit)	35,341		22,261		(40,324)		57,602		(34,499)
Net income (loss)	$	96,302	$	68,668	$	(99,091)	$	164,970	$	(73,351)
EARNINGS (LOSS) PER SHARE
Basic	$	1.02	$	0.73	$	(1.41)	$	1.74	$	(1.14)
Diluted	$	1.01	$	0.72	$	(1.41)	$	1.73	$	(1.14)
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic	93,635,392		93,529,147		70,425,027		93,582,563		64,716,109
Diluted	94,218,028		94,093,644		70,425,027		94,155,740		64,716,109

18

SELECTED FINANCIAL DATA

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCES AND YIELD DATA
(Unaudited)
	Three Months Ended
	June 30, 2021						March 31, 2021						June 30, 2020
(Dollars in thousands)	Average Balance		Interest Income/Expense		Average Yield/Cost		Average Balance		Interest Income/Expense		Average Yield/Cost		Average Balance		Interest Income/Expense		Average Yield/Cost
Assets
Interest-earning assets:
Cash and cash equivalents	$	1,323,186	$	315	0.10	%	$	1,309,366	$	301	0.09	%	$	796,761	$	215	0.11	%
Investment securities	4,243,644		18,012		1.70		4,087,451		17,468		1.71		1,792,432		10,568		2.36
Loans receivable, net (1)(2)	13,216,973		152,365		4.62		13,093,609		155,225		4.81		11,242,721		133,339		4.77
Total interest-earning assets	18,783,803		170,692		3.64		18,490,426		172,994		3.79		13,831,914		144,122		4.19
Noninterest-earning assets	1,506,612						1,503,834						1,343,396
Total assets	$	20,290,415					$	19,994,260					$	15,175,310
Liabilities and equity
Interest-bearing deposits:
Interest checking	$	3,155,935	$	336	0.04	%	$	3,060,055	$	419	0.06	%	$	1,417,846	$	844	0.24	%
Money market	5,558,790		2,002		0.14		5,447,909		2,588		0.19		4,242,990		5,680		0.54
Savings	384,376		84		0.09		368,288		82		0.09		283,632		101		0.14
Retail certificates of deposit	1,294,544		839		0.26		1,425,093		1,201		0.34		1,148,874		2,251		0.79
Wholesale/brokered certificates of deposit	1,357		4		1.18		118,854		136		0.46		224,333		779		1.40
Total interest-bearing deposits	10,395,002		3,265		0.13		10,420,199		4,426		0.17		7,317,675		9,655		0.53
FHLB advances and other borrowings	6,303		—		—		22,012		65		1.20		143,813		217		0.61
Subordinated debentures	480,415		6,493		5.41		501,553		6,851		5.46		287,368		3,958		5.51
Total borrowings	486,718		6,493		5.35		523,565		6,916		5.36		431,181		4,175		3.89
Total interest-bearing liabilities	10,881,720		9,758		0.36		10,943,764		11,342		0.42		7,748,856		13,830		0.72
Noninterest-bearing deposits	6,341,063						6,034,319						4,970,812
Other liabilities	320,324						266,536						223,920
Total liabilities	17,543,107						17,244,619						12,943,588
Stockholders' equity	2,747,308						2,749,641						2,231,722
Total liabilities and equity	$	20,290,415					$	19,994,260					$	15,175,310
Net interest income			$	160,934					$	161,652					$	130,292
Net interest margin (3)					3.44	%					3.55	%					3.79	%
Cost of deposits					0.08						0.11						0.32
Cost of funds (4)					0.23						0.27						0.44
Ratio of interest-earning assets to interest-bearing liabilities					172.62						168.96						178.50

______________________________

(1) Average balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs and discounts/premiums.

(2) Interest income includes net discount accretion of $9.5 million, $9.9 million, and $5.8 million, respectively.

(3) Represents annualized net interest income divided by average interest-earning assets.

(4) Represents annualized total interest expense divided by the sum of average total interest-bearing liabilities and noninterest-bearing deposits.

19

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
LOAN PORTFOLIO COMPOSITION
(Unaudited)
	June 30,		March 31,		December 31,		September 30,		June 30,
(Dollars in thousands)	2021		2021		2020		2020		2020
Investor loans secured by real estate
CRE non-owner-occupied	$	2,810,233	$	2,729,785	$	2,675,085	$	2,707,930	$	2,783,692
Multifamily	5,539,464		5,309,592		5,171,356		5,142,069		5,225,557
Construction and land	297,728		316,458		321,993		337,872		357,426
SBA secured by real estate (1)	53,003		56,381		57,331		57,610		59,482
Total investor loans secured by real estate	8,700,428		8,412,216		8,225,765		8,245,481		8,426,157
Business loans secured by real estate (2)
CRE owner-occupied	2,089,300		2,029,984		2,114,050		2,119,788		2,170,154
Franchise real estate secured	358,120		340,805		347,932		359,329		364,647
SBA secured by real estate (3)	72,923		73,967		79,595		84,126		85,542
Total business loans secured by real estate	2,520,343		2,444,756		2,541,577		2,563,243		2,620,343
Commercial loans (4)
Commercial and industrial	1,795,144		1,656,098		1,768,834		1,820,995		2,051,313
Franchise non-real estate secured	401,315		399,041		444,797		515,980		523,755
SBA non-real estate secured	13,900		14,908		15,957		16,748		21,057
SBA PPP	—		—		—		—		1,128,780
Total commercial loans	2,210,359		2,070,047		2,229,588		2,353,723		3,724,905
Retail loans
Single family residential (5)	157,228		184,049		232,574		243,359		265,170
Consumer	6,240		6,324		6,929		45,034		46,309
Total retail loans	163,468		190,373		239,503		288,393		311,479
Gross loans held for investment (6)	13,594,598		13,117,392		13,236,433		13,450,840		15,082,884
Allowance for credit losses for loans held for investment	(232,774)		(266,999)		(268,018)		(282,503)		(282,271)
Loans held for investment, net	$	13,361,824	$	12,850,393	$	12,968,415	$	13,168,337	$	14,800,613
Loans held for sale, at lower of cost or fair value	$	4,714	$	7,311	$	601	$	1,032	$	1,007

______________________________

(1) SBA loans that are collateralized by hotel/motel real property.

(2) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(3) SBA loans that are collateralized by real property other than hotel/motel real property.

(4) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(5) Single family residential includes home equity lines of credit, as well as second trust deeds.

(6) Includes unaccreted fair value net purchase discounts of $94.4 million, $103.9 million, $113.8 million, $126.3 million, and $144.5 million as of June 30, 2021, March 31, 2021, December 31, 2020, September 30,2020, and June 30, 2020, respectively.

20

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY INFORMATION
(Unaudited)
	June 30,			March 31,			December 31,			September 30,			June 30,
(Dollars in thousands)	2021			2021			2020			2020			2020
Asset quality
Nonperforming loans	$	34,387		$	38,909		$	29,209		$	27,214		$	33,825
Other real estate owned	—			—			—			334			386
Nonperforming assets	$	34,387		$	38,909		$	29,209		$	27,548		$	34,211
Total classified assets (1)	$	131,350		$	134,667		$	128,332		$	137,042		$	90,334
Allowance for credit losses	232,774			266,999			268,018			282,503			282,271
Allowance for credit losses as a percent of total nonperforming loans	677		%	686		%	918		%	1,038		%	835		%
Nonperforming loans as a percent of loans held for investment	0.25			0.30			0.22			0.20			0.22
Nonperforming assets as a percent of total assets	0.17			0.19			0.15			0.14			0.17
Classified loans to total loans held for investment	0.97			1.03			0.97			1.02			0.60
Classified assets to total assets	0.64			0.67			0.65			0.69			0.44
Net loan charge-offs for the quarter ended	$	1,094		$	1,334		$	6,406		$	4,470		$	4,650
Net loan charge-offs for the quarter to average total loans	0.01		%	0.01		%	0.05		%	0.03		%	0.04		%
Allowance for credit losses to loans held for investment (2)	1.71			2.04			2.02			2.10			1.87
Allowance for credit losses to loans held for investment, excluding SBA PPP loans (2)	1.71			2.04			2.02			2.10			2.02
Loans modified under the CARES Act	$	819		$	—		$	79,465		$	118,298		$	2,244,974
Loans modified under the CARES Act as a percent of loans held for investment	0.01		%	—		%	0.60		%	0.88		%	14.88		%
Delinquent loans
30 - 59 days	$	207		$	13,116		$	1,269		$	7,084		$	6,248
60 - 89 days	83			61			57			1,086			4,133
90+ days	19,045			9,410			11,996			21,206			27,807
Total delinquency	$	19,335		$	22,587		$	13,322		$	29,376		$	38,188
Delinquency as a percent of loans held for investment	0.14		%	0.17		%	0.10		%	0.22		%	0.25		%

______________________________

(1) Includes substandard loans and other real estate owned.

(2) At June 30, 2021, 45% of loans held for investment include a fair value net discount of $94.4 million, or 0.69% of loans held for investment. At March 31, 2021, 51% of loans held for investment include a fair value net discount of $103.9 million, or 0.79% of loans held for investment. At June 30, 2020, 56% of loans held for investment include a fair value net discount of $144.5 million, or 1.03% of loans held for investment excluding SBA PPP loans.

21

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
NONACCRUAL LOANS (1)
(Unaudited)
(Dollars in thousands)	Collateral Dependent Loans		ACL		Non-Collateral Dependent Loans		ACL		Total Nonaccrual Loans		Nonaccrual Loans With No ACL
June 30, 2021
Investor loans secured by real estate
CRE non-owner-occupied	$	12,296	$	—	$	—	$	—	$	12,296	$	12,296
SBA secured by real estate (2)	440		—		—		—		440		440
Total investor loans secured by real estate	12,736		—		—		—		12,736		12,736
Business loans secured by real estate (3)
CRE owner-occupied	5,016		—		—		—		5,016		5,016
SBA secured by real estate (4)	692		—		—		—		692		692
Total business loans secured by real estate	5,708		—		—		—		5,708		5,708
Commercial loans (5)
Commercial and industrial	2,118		—		552		—		2,670		2,670
Franchise non-real estate secured	—		—		12,584		—		12,584		12,584
SBA not secured by real estate	677		—		—		—		677		677
Total commercial loans	2,795		—		13,136		—		15,931		15,931
Retail loans
Single family residential (6)	12		—		—		—		12		12
Total retail loans	12		—		—		—		12		12
Totals nonaccrual loans	$	21,251	$	—	$	13,136	$	—	$	34,387	$	34,387

______________________________

(1) The ACL for nonaccrual loans is determined based on a discounted cash flow methodology unless the loan is considered collateral dependent. The ACL for collateral dependent loans is determined based on the estimated fair value of the underlying collateral.

(2) SBA loans that are collateralized by hotel/motel real property.

(3) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(4) SBA loans that are collateralized by real property other than hotel/motel real property.

(5) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(6) Single family residential includes home equity lines of credit, as well as second trust deeds.

22

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
PAST DUE STATUS
(Unaudited)
			Days Past Due
(Dollars in thousands)	Current		30-59		60-89		90+		Total
June 30, 2021
Investor loans secured by real estate
CRE non-owner-occupied	$	2,799,890	$	—	$	—	$	10,343	$	2,810,233
Multifamily	5,539,464		—		—		—		5,539,464
Construction and land	297,728		—		—		—		297,728
SBA secured by real estate (1)	52,563		—		—		440		53,003
Total investor loans secured by real estate	8,689,645		—		—		10,783		8,700,428
Business loans secured by real estate (2)
CRE owner-occupied	2,084,284		—		—		5,016		2,089,300
Franchise real estate secured	358,120		—		—		—		358,120
SBA secured by real estate (3)	72,473		—		—		450		72,923
Total business loans secured by real estate	2,514,877		—		—		5,466		2,520,343
Commercial loans (4)
Commercial and industrial	1,792,913		29		83		2,119		1,795,144
Franchise non-real estate secured	401,315		—		—		—		401,315
SBA not secured by real estate	13,223		—		—		677		13,900
Total commercial loans	2,207,451		29		83		2,796		2,210,359
Retail loans
Single family residential (5)	157,050		178		—		—		157,228
Consumer loans	6,240		—		—		—		6,240
Total retail loans	163,290		178		—		—		163,468
Total loans	$	13,575,263	$	207	$	83	$	19,045	$	13,594,598

______________________________

(1) SBA loans that are collateralized by hotel/motel real property.

(2) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(3) SBA loans that are collateralized by real property other than hotel/motel real property.

(4) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(5) Single family residential includes home equity lines of credit, as well as second trust deeds.

23

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CREDIT RISK GRADES
(Unaudited)
(Dollars in thousands)	Pass		Special Mention		Substandard		Total Gross Loans
June 30, 2021
Investor loans secured by real estate
CRE non-owner-occupied	$	2,741,106	$	37,332	$	31,795	$	2,810,233
Multifamily	5,533,772		3,818		1,874		5,539,464
Construction and land	297,728		—		—		297,728
SBA secured by real estate (1)	41,278		3,788		7,937		53,003
Total investor loans secured by real estate	8,613,884		44,938		41,606		8,700,428
Business loans secured by real estate (2)
CRE owner-occupied	2,060,588		10,870		17,842		2,089,300
Franchise real estate secured	357,242		878		—		358,120
SBA secured by real estate (3)	64,851		150		7,922		72,923
Total business loans secured by real estate	2,482,681		11,898		25,764		2,520,343
Commercial loans (4)
Commercial and industrial	1,745,403		13,789		35,952		1,795,144
Franchise non-real estate secured	375,466		—		25,849		401,315
SBA not secured by real estate	11,819		—		2,081		13,900
Total commercial loans	2,132,688		13,789		63,882		2,210,359
Retail loans
Single family residential (5)	157,174		—		54		157,228
Consumer loans	6,196		—		44		6,240
Total retail loans	163,370		—		98		163,468
Total loans	$	13,392,623	$	70,625	$	131,350	$	13,594,598

______________________________

(1) SBA loans that are collateralized by hotel/motel real property.

(2) Loans to businesses that are collateralized by real estate where the operating cash flow of the business is the primary source of repayment.

(3) SBA loans that are collateralized by real property other than hotel/motel real property.

(4) Loans to businesses where the operating cash flow of the business is the primary source of repayment.

(5) Single family residential includes home equity lines of credit, as well as second trust deeds.

24

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
GAAP to Non-GAAP RECONCILIATIONS
(Unaudited)
The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these adjusted measures, this presentation may not be comparable to other similarly titled adjusted measures reported by other companies.
For periods presented below, return on average tangible common equity is a non-GAAP financial measure derived from GAAP based amounts. We calculate this figure by excluding amortization of intangible assets expense from net income and excluding the average intangible assets and average goodwill from the average stockholders' equity during the periods indicated. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Net income	$	96,302		$	68,668		$	(99,091)
Plus: amortization of intangible assets expense	4,001			4,143			4,066
Less: amortization of intangible assets expense tax adjustment (1)	1,145			1,185			1,166
Net income for average tangible common equity	99,158			71,626			(96,191)
Plus: merger-related expense	—			5			39,346
Less: merger-related expense tax adjustment (1)	—			1			11,284
Net income for average tangible common equity excluding merger-related expense	$	99,158		$	71,630		$	(68,129)
Average stockholders' equity	$	2,747,308		$	2,749,641		$	2,231,722
Less: average intangible assets	79,784			83,946			84,148
Less: average goodwill	900,582			898,587			838,725
Average tangible common equity	$	1,766,942		$	1,767,108		$	1,308,849
Return on average equity (annualized)	14.02		%	9.99		%	(17.76)		%
Return on average tangible common equity (annualized)	22.45		%	16.21		%	(29.40)		%
Return on average tangible common equity excluding merger-related expense (annualized)	22.45		%	16.21		%	(20.82)		%

___________________________________________________

(1) Adjusted by statutory tax rate

For periods presented below, return on average assets excluding merger-related expense is a non-GAAP financial measure derived from GAAP based amounts. We calculate this figure by excluding merger-related expense and the related tax impact from net income. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Net income (loss)	$	96,302		$	68,668		$	(99,091)
Plus: merger-related expense	—			5			39,346
Less: merger-related expense tax adjustment (1)	—			1			11,284
Net income (loss) for average assets excluding merger-related expense	$	96,302		$	68,672		$	(71,029)
Average assets	$	20,290,415		$	19,994,260		$	15,175,310
Return on average assets (annualized)	1.90		%	1.37		%	(2.61)		%
Return on average assets excluding merger-related expense (annualized)	1.90		%	1.37		%	(1.87)		%

____________________________________________

(1) Adjusted by statutory tax rate

Pre-provision net revenue is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the pre-provision net revenue by excluding income tax, provision for credit losses, and merger-related expenses from net income. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business and a better comparison to the financial results of prior periods.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Interest income	$	170,692		$	172,994		$	144,122
Interest expense	9,758			11,342			13,830
Net interest income	160,934			161,652			130,292
Noninterest income	26,729			23,740			6,898
Revenue	187,663			185,392			137,190
Noninterest expense	94,496			92,489			115,970
Add: merger-related expense	—			5			39,346
Pre-provision net revenue	93,167			92,908			60,566
Pre-provision net revenue (annualized)	$	372,668		$	371,632		$	242,264
Average assets	$	20,290,415		$	19,994,260		$	15,175,310
Pre-provision net revenue on average assets	0.46		%	0.46		%	0.40		%
Pre-provision net revenue on average assets (annualized)	1.84		%	1.86		%	1.60		%

Noninterest expense (excluding merger-related expense) as a percent of average assets is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the noninterest expense (excluding merger-related expense) as a percent of average assets by excluding merger-related expenses from the noninterest expense and dividing by average assets. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business and a better comparison to the financial results of prior periods.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Noninterest expense	$	94,496		$	92,489		$	115,970
Less: merger-related expense	—			5			39,346
Noninterest expense excluding merger-related expense	$	94,496		$	92,484		$	76,624
Average assets	$	20,290,415		$	19,994,260		$	15,175,310
Noninterest expense as a percent of average assets (annualized)	1.86		%	1.85		%	3.06		%
Noninterest expense excluding merger-related expense as a percent of average assets (annualized)	1.86		%	1.85		%	2.02		%

Tangible book value per share and tangible common equity to tangible assets (the “tangible common equity ratio”) are non-GAAP financial measures derived from GAAP based amounts. We calculate tangible book value per share by dividing tangible common equity by common shares outstanding, as compared to book value per share, which we calculate by dividing common stockholders' equity by shares outstanding. We calculate the tangible common equity ratio by excluding the balance of intangible assets from common stockholders' equity and dividing by tangible assets. We believe that this information is consistent with the treatment by bank regulatory agencies, which excludes intangible assets from the calculation of risk-based capital ratios. Accordingly, we believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our capital position and ratios.
	June 30,			March 31,			December 31,			September 30,			June 30,
(Dollars in thousands, except per share data)	2021			2021			2020			2020			2020
Total stockholders' equity	$	2,813,419		$	2,703,098		$	2,746,649		$	2,688,085		$	2,654,647
Less: intangible assets	978,675			981,568			984,076			988,446			995,716
Tangible common equity	$	1,834,744		$	1,721,530		$	1,762,573		$	1,699,639		$	1,658,931
Total assets	$	20,529,486		$	20,173,298		$	19,736,544		$	19,844,240		$	20,517,074
Less: intangible assets	978,675			981,568			984,076			988,446			995,716
Tangible assets	$	19,550,811		$	19,191,730		$	18,752,468		$	18,855,794		$	19,521,358
Tangible common equity ratio	9.38		%	8.97		%	9.40		%	9.01		%	8.50		%
Common shares issued and outstanding	94,656,575			94,644,415			94,483,136			94,375,521			94,350,902
Book value per share	$	29.72		$	28.56		$	29.07		$	28.48		$	28.14
Less: intangible book value per share	10.34			10.37			10.42			10.47			10.55
Tangible book value per share	$	19.38		$	18.19		$	18.65		$	18.01		$	17.58

Core net interest income and core net interest margin are non-GAAP financial measures derived from GAAP based amounts. We calculate core net interest income by excluding scheduled accretion income, accelerated accretion income, premium amortization on CDs, and nonrecurring nonaccrual interest paid from net interest income. The core net interest margin is calculated as the ratio of core net interest income to average interest-earning assets. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Net interest income	$	160,934		$	161,652		$	130,292
Less: scheduled accretion income	3,560			3,878			3,501
Less: accelerated accretion income	5,927			5,988			2,347
Less: premium amortization on CD	942			1,751			1,054
Less: nonrecurring nonaccrual interest paid	(216)			(603)			(142)
Core net interest income	150,721			150,638			123,532
Less: interest income on SBA PPP loans	—			—			5,382
Core net interest income excluding SBA PPP loans	$	150,721		$	150,638		$	118,150
Average interest-earning assets	$	18,783,803		$	18,490,426		$	13,831,914
Less: average SBA PPP loans	—			—			830,090
Average interest-earning assets excluding SBA PPP loans	$	18,783,803		$	18,490,426		$	13,001,824
Net interest margin	3.44		%	3.55		%	3.79		%
Core net interest margin	3.22		%	3.30		%	3.59		%
Core net interest margin excluding SBA PPP loans	3.22		%	3.30		%	3.65		%

Efficiency ratio is a non-GAAP financial measure derived from GAAP-based amounts. This figure represents the ratio of noninterest expense less other real estate owned operations, core deposit intangible amortization, and merger-related expense to the sum of net interest income before provision for credit losses and total noninterest income, less gain (loss) on sale of securities, other income - security recoveries, gain/(loss) on sale of other real estate owned, and gain (loss) from debt extinguishment. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business.
	Three Months Ended
	June 30,			March 31,			June 30,
(Dollars in thousands)	2021			2021			2020
Total noninterest expense	$	94,496		$	92,489		$	115,970
Less: amortization of intangible assets	4,001			4,143			4,066
Less: merger-related expense	—			5			39,346
Less: other real estate owned operations, net	—			—			9
Noninterest expense, adjusted	$	90,495		$	88,341		$	72,549
Net interest income before provision for credit losses	$	160,934		$	161,652		$	130,292
Add: total noninterest income	26,729			23,740			6,898
Less: net gain (loss) from investment securities	5,085			4,046			(21)
Less: other income - security recoveries	6			2			—
Less: net loss from other real estate owned	—			—			(55)
Less: net loss from debt extinguishment	(647)			(503)			—
Revenue, adjusted	$	183,219		$	181,847		$	137,266
Efficiency ratio	49.4		%	48.6		%	52.9		%

25

EX-99.2

Investor Presentation Second Quarter 2021 July 27, 2021 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 Steve Gardner Chairman, President & Chief Executive Officer sgardner@ppbi.com 949-864-8000 Exhibit 99.2

2© 2021 Pacific Premier Bancorp, Inc. | All rights reserved 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 financial condition, results of operations, business plans and the future performance of Pacific Premier Bancorp, Inc. (“PPBI” or the “Company”), including its wholly-owned subsidiary Pacific Premier Bank (“Pacific Premier” or the “Bank”). Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “could,” “may,” “should,” “will” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on PPBI’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, stockholder value creation, tax rates and acquisitions we have made or may make. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Many possible events or factors could affect PPBI’s future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. Given the ongoing and dynamic nature of the COVID-19 pandemic, the ultimate extent of the impacts on our business, financial position, results of operations, liquidity and prospects remain uncertain. Although general business and economic conditions have begun to recover, the recovery could be slowed or reversed by a number of factors, including increases in COVID-19 infections, increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and further increase stock price volatility, which could result in impairment to our goodwill in future periods. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways, including the potential adverse impact of loan modifications and payment deferrals implemented consistent with recent regulatory guidance. Other risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the impact of changes in financial services policies, laws and regulations, including those concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; uncertainty regarding the future of LIBOR and potential alternative reference rates, including SOFR; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the CECL model, which has changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; possible credit related impairments of securities held by us; possible impairment charges to goodwill; the impact of current governmental efforts to restructure the U.S. financial regulatory system, including any amendments to the Dodd- Frank Wall Street Reform and Consumer Protection Act; changes in consumer spending, borrowing and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; our ability to attract deposits and other sources of liquidity; the possibility that we may reduce or discontinue the payments of dividends on our common stock; changes in the financial performance and/or condition of our borrowers; changes in the competitive environment among financial and bank holding companies and other financial service providers; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; public health crises and pandemics, including the COVID-19 pandemic, and their effects on the economic and business environments in which we operate, including on our credit quality and business operations, as well as the impact on general economic and financial market conditions; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national or global level; unanticipated regulatory or legal proceedings; and our ability to manage the risks involved in the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2020 Annual Report on Form 10-K and other filings filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. 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 with U.S. GAAP in the statement of income, statement of financial condition or statement of cash flows (or equivalent statements) of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented in this regard. U.S. GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, PPBI has provided reconciliations within this presentation, as necessary, of the non-U.S GAAP financial measures to the most directly comparable U.S. GAAP financial measures. For more details on PPBI’s non-U.S. GAAP measures, refer to the Appendix in this presentation.

3© 2021 Pacific Premier Bancorp, Inc. | All rights reserved PRESENTATION CONTENTS Company Overview 4 Financial Highlights 12 Loan Portfolio and Credit Quality 18 Culture and Governance 23 Appendix Material 29

PPBI Company Overview

5© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Balance Sheet and Capital Ratios(3) Profitability and Credit Quality(3) Assets $20.53 billion ROAA 1.90% Loans HFI $13.59 billion PPNR ROAA(4)(5) 1.84% TCE / TA(5) 9.38% Efficiency Ratio(5) 49.4% Tier 1 Capital Ratio 11.89% NPA / Assets 0.17% Total RBC Ratio 15.61% ACL / Loans 1.71% Premier commercial bank in key metropolitan areas throughout the Western U.S. Headquarters Irvine, CA Exchange/Listing Nasdaq: PPBI Market Capitalization(1) $3.6 Billion Average Daily Volume(2) 376,673 Shares Common Shares Outstanding(3) 94,656,575 Dividend Yield(1) 3.51% # of Research Analysts 7 Analysts Client Focus Small & Middle-Market Businesses Branch Network 63 Full Service Branch Locations Corporate Overview Note: All dollars in millions 1. Market data as of July 26, 2021 2. 3-month average as of July 26, 2021 3. As of June 30, 2021 or for the three months ended June 30, 2021 4. Pre-provision net revenue excludes merger-related expense 5. Please refer to non-U.S. GAAP reconciliation in the appendix Financial Highlights BRANCH FOOTPRINT 11 2 Arizona Phoenix (1) Tucson (2) 3 Nevada Las Vegas (1) 1 Southern California Los Angeles-Orange (22) San Diego (6) Riverside-San Bernardino (9) 37 Central Coast California San Luis Obispo (7) Santa Barbara (2) 9 Pacific Northwest Seattle MSA (10) Portland MSA (2) Other Washington (1) PACIFIC PREMIER BANCORP, INC.

6© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Q2 2021 RESULTS 1. Please refer to non-U.S. GAAP reconciliation in the appendix 2. Noninterest expense, excluding merger-related expense 3. Including fair value net discount on acquired loans 4. Share repurchase program approved on January 11, 2021 Operating Results • Net income of $96.3 million, or $1.01 per diluted share • ROAA of 1.90% and ROATCE of 22.45%(1) • Pre-provision net revenue (“PPNR”) of $93.2 million and PPNR ROAA of 1.84%(1) • Net interest margin of 3.44%; core net interest margin of 3.22%(1) • Efficiency ratio of 49.4%(1) and noninterest expense of $94.5 million(2) Loans • Loan portfolio of $13.6 billion, an increase of 3.6% from the prior quarter • Record loan production of $1.58 billion during Q2 2021 • Loan / deposit ratio of 79.9%, compared to 78.4% in Q1 2021 Deposits • Deposits of $17.0 billion, an increase of 1.6% from the prior quarter • Non-maturity deposits of 93% and noninterest-bearing checking of 40% of total deposits • Average cost of deposits decreased to 0.08% from 0.11% in Q1 2021 Capital • Declared quarterly dividend of $0.33 per share • No shares repurchased in Q2(4) • Tangible common equity to tangible assets of 9.38% and total risk-based capital ratio of 15.61%(1) • Tangible book value per share of $19.38(1), increased $1.19 from the prior quarter end Asset Quality • Delinquent loans were 0.14% of total loans • Nonperforming assets were 0.17% of total assets • Net charge-offs of $1.1 million, or 0.01% of average loans • COVID-19 temporary loan modifications represent 0.01% of total loans • ACL of $232.8 million, or 1.71% of loans; loss absorption capacity equals 2.39% of loans(3)

7© 2021 Pacific Premier Bancorp, Inc. | All rights reserved PEER COMPARISON PPNR ROAA(2)(3) Pacific Premier has consistently outperformed Western bank peers(1) Net Interest Margin Efficiency Ratio(3) Nonperforming Assets to Total Assets 1. Peer group consists of Western region banks and thrifts with total assets between $5 billion and $50 billion as of March 31, 2021 2. Pre-provision net revenue exclusive of merger-related expenses 3. Please refer to the non-U.S. GAAP information in the appendix 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.86% 1.84% 1.66% 1.67% 1.67% 1.71% 1.70% 1.50% 1.63% 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Q1 2021Q2 PPBI Peer Median 4.25% 4.48% 4.43% 4.44% 4.33% 3.74% 3.55% 3.44%3.88% 3.75% 3.80% 4.02% 3.99% 3.41% 3.16% 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Q1 2021Q2 PPBI Peer Median 55.9% 53.6% 51.0% 51.6% 50.8% 49.8% 48.6% 49.4% 59.4% 58.5% 54.4% 55.4% 56.1% 56.5% 52.8% 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Q1 2021Q2 PPBI Peer Median 0.18% 0.04% 0.04% 0.04% 0.08% 0.15% 0.19% 0.17% 0.83% 0.52% 0.43% 0.36% 0.36% 0.41% 0.35% 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Q1 2021Q2 PPBI Peer Median

8© 2021 Pacific Premier Bancorp, Inc. | All rights reserved $1,714 $2,038 $2,790 $4,036 $8,025 $11,487 $11,776 $19,737 $20,173 $20,529 $- $5,000 $10,000 $15,000 $20,000 $25,000 2013 2014 2015 2016 2017 2018 2019 2020 1Q'21 2Q'21 Non-Acquired Assets Acquired Assets DISCIPLINED ACQUIRER Note: All dollars in millions Acquisition Timeline January 2015 Independence Bank ($422MM assets) January 2014 Infinity Franchise Holdings ($80MM assets), a specialty finance company January 2016 Security California Bancorp ($715MM assets) April 2017 and November 2017 Heritage Oaks Bancorp ($2.0B assets) and Plaza Bancorp ($1.3B assets) July 2018 Grandpoint Capital, Inc. ($3.2B assets) March 2013 and June 2013 First Associations Bank ($424MM assets) and San Diego Trust Bank ($211MM assets) April 2012 Palm Desert National Bank ($103MM assets) in FDIC-assisted deal February 2011 Canyon National Bank ($192MM assets) in FDIC- assisted deal PPBI acquisitions have strengthened and enhanced franchise value • Acquisitions are fully integrated into Pacific Premier with a “one bank, one culture” approach • Total Assets have grown 39% compounded annually since 2013 June 2020 Opus Bank ($8.3B assets)

9© 2021 Pacific Premier Bancorp, Inc. | All rights reserved $9 .0 8 $1 0. 12 $1 1. 17 $1 2. 51 $1 5. 26 $1 6. 97 $1 8. 84 $1 8. 65 $1 8. 19 $1 9. 38 $0 .8 8 $1 .9 1 $2 .2 1 $2 .5 4 TBVPS Cumulative Dividends SHAREHOLDER FOCUSED Consolidated PPBI Pacific Premier Bank Leverage Ratio 9.83% 9.66% 12.00% Common Equity Tier 1 Ratio (CET1) 11.89% 12.05% 11.32% Tier 1 Ratio 11.89% 12.05% 11.32% Total Risk Based Capital Ratio 15.61% 16.26% 15.69% Tangible Common Equity Ratio(1) 9.38% 8.97% 8.50% Leverage Ratio 11.31% 11.13% 13.49% Common Equity Tier 1 Ratio (CET1) 13.67% 13.90% 12.73% Tier 1 Ratio 13.67% 13.90% 12.73% Total Risk Based Capital Ratio 15.44% 15.92% 14.81% Q2 2021 Q1 2021 Q2 2020 • Declared a $0.33 per share dividend, optimizing capital management • Strong capital ratios, growing shareholder value 1. Please refer to non-U.S. GAAP reconciliation in appendix Growth in Tangible Book Value per Share (1)

10© 2021 Pacific Premier Bancorp, Inc. | All rights reserved INNOVATION LEADER Leveraging technology to better serve our clients and operate more efficiently Current and Planned Technology Offerings Salesforce® Integration • Integration of Salesforce® – a leading relationship management platform – licensed and implemented in 2012 • Fully leveraged across the enterprise • Continually enhancing, customizing and leveraging Salesforce® throughout the Bank to expand client relationships, develop new business, data aggregation, and management reporting  Pacific Premier API - Money Movement  Modernized Digital Online Banking  Zelle® P2P Payments  Integrated Payables Solutions  Same Day ACH Support  Direct Biller / Invoice Presentment  Enhanced Mobile with Debit Card Controls  Modernized Remote Deposit Capture  Self Service IRA Account Management  Expanded Secure File Transmissions Platform Note: Zelle and Salesforce are registered trademarks of Early Warning Services LLC and Salesforce.com, Inc.

11© 2021 Pacific Premier Bancorp, Inc. | All rights reserved PREMIER API BANKING Open API banking creates new opportunities to engage with clients, industry partners and FinTech companies alike Modernize the client’s access to secure funds movement and data analytics • Access to real-time account information, secure funds movement and data analytics • Manual, repetitive banking tasks are automated securely • Designed to address traditional pain points associated with cash movement and treasury management services • We can take our automated solutions directly into the client’s environment 37,000+ Active Accounts $4.4 Billion Deposits 159,000+ Daily API Transactions 20 Partners

PPBI Q2 2021 Financial Highlights

13© 2021 Pacific Premier Bancorp, Inc. | All rights reserved $23.4 $33.6 $52.2 $79.0 $131.7 $192.3 $224.1 $313.5 $371.6 $372.7 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.86% 1.84% 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Pre-Provision Net Revenue PPNR / Average Assets $67.3 $87.0 $120.7 $172.7 $278.6 $423.7 $482.5 $645.5 $741.6 $750.7 64.7% 61.3% 55.9% 53.6% 51.0% 51.6% 50.8% 49.8% 48.6% 49.4% 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Total Revenue Efficiency Ratio Pre-Provision Net Revenue(1)Revenue and Efficiency Ratio(1) CORE EARNINGS AND EFFICIENCY Note: All dollars in millions 1. Excludes merger-related expenses. Please refer to non-U.S. GAAP reconciliation in the appendix. 2. Assumes annualized total revenue and pre-provision net revenue Strong capital generation from pre-provision net revenue and operating efficiencies Since 2013: • Compound annual growth for total revenue of 35% and pre-provision net revenue of 41%(1)(2) • Efficiency ratio improved from 64.7% to 49.4%(1) (2) (2) (2) (2)

14© 2021 Pacific Premier Bancorp, Inc. | All rights reserved 4.18% 4.21% 4.25% 4.48% 4.43% 4.44% 4.33% 3.74% 3.55% 3.44% 3.93% 4.09% 4.06% 4.20% 4.18% 4.24% 4.13% 3.48% 3.30% 3.22% 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Reported Net Interest Margin Core Net Interest Margin NET INTEREST MARGIN 1. Please refer to non-U.S. GAAP reconciliation in appendix. Core net interest margin and core loan yield exclude accretion and other one-time adjustments. Reported and Core Net Interest Margin NIM decreased in Q2 2021, primarily driven by changes in the mix of earning assets Loan Yields Cost of Deposits Factors Affecting Q2 2021 Net Interest Margin Increase Decrease (1) (1) 5.59% 5.32% 5.39% 5.45% 5.31% 5.52% 5.54% 4.89% 4.81% 4.62% 5.28% 5.18% 5.18% 5.13% 5.04% 5.30% 5.30% 4.61% 4.52% 4.34% 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Reported Loan Yield Core Loan Yield 0.34% 0.34% 0.32% 0.28% 0.28% 0.51% 0.66% 0.25% 0.11% 0.08% 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Cost of Deposits

15© 2021 Pacific Premier Bancorp, Inc. | All rights reserved CECL & LOSS ABSORPTION CAPACITY ACL Change Attributions ($ in millions) Allowance for Credit Losses + Fair Value Mark Allowance for Credit Losses by Loan Type 1. SBA loans that are collateralized by hotel real property 2. SBA loans that are collateralized by real property other than hotel real property 3. Adds back the FV discount to the loans held for investment Increase Decrease Combined Loss Absorption Capacity Updated economic forecast for CECL Model • Utilized Moody’s probability-weighted June economic forecast – model weightings unchanged from March 2021 • Unfunded commitments decrease driven by lower loss rates partially offset by increased commitments (dollars in thousands) Balance % of Total Loans Held for Investment Allowance for Credit Losses 232,774$ 1.71% Plus: Fair Value Mark on Acquired Loans(3) 94,415 0.69% Total Allowance + Fair Value Mark(3) 327,189$ 2.39% (dollars in thousands) ACL Balance % of Loans HFI ACL Balance % of Loans HFI Investor loans secured by real estate CRE non-owner occupied 45,545$ 1.67% 47,112$ 1.68% Multifamily 79,815 1.50% 59,059 1.07% Construction and land 13,263 4.19% 9,548 3.21% SBA secured by real estate(1) 5,141 9.12% 4,681 8.83% Business loans secured by real estate CRE owner-occupied 41,594 2.05% 35,747 1.71% Franchise real estate secured 10,876 3.19% 11,436 3.19% SBA secured by real estate(2) 6,451 8.72% 6,317 8.66% Commercial loans Commercial and industrial 43,373 2.62% 39,879 2.22% Franchise non-real estate secured 18,903 4.74% 17,313 4.31% SBA non-real estate secured 890 5.97% 730 5.25% Retail loans Single family residential 822 0.45% 670 0.43% Consumer loans 326 5.15% 282 4.52% ACL for Loans HFI 266,999$ 2.04% 232,774$ 1.71% ACL for off-balance sheet commitments 32,778 27,433 Total Allowance for Credit Losses 299,777$ 260,207$ 3/31/2021 6/30/2021

16© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Deposits as of June 30, 2021 Cost of Deposits(1) Continued low cost deposit growth • Deposits totaled $17.02 billion • Increased $275.1 million from the prior quarter • Noninterest-bearing deposits increased $465.7 million and totaled 39.8% of total deposits • Non-maturity deposits increased $386.2 million and totaled 92.6% of total deposits • Cost of deposits of 0.08%, compared to 0.11% in Q1 2021, a decrease in 8 consecutive quarters • Deposit mix reflects our relationship-based business model Non-Maturity Deposits (% of Total) ATTRACTIVE DEPOSIT MIX 0.32% 0.20% 0.14% 0.11% 0.08% Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 89% 89% 90% 92% 93% Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 1. Quarterly average cost 2. As of June 30, 2021 3. Retail CD cost of deposits of 0.55% when excluding the benefit of CD MTM Balance(2) % of Total Cost of Deposits(1)(3) Weighted Avg Rate(2) (dollars in thousands) Noninterest-bearing demand 6,768,384$ 40% 0.00% 0.00% Interest-bearing demand 3,103,343 18% 0.04% 0.03% Money market and savings 5,883,672 35% 0.14% 0.12% Total non-maturity deposits 15,755,399 93% 0.06% 0.05% Retail certificates of deposit 1,259,698 7% 0.26% 0.48% Wholesale/brokered certificates of deposit - 0% 1.18% NA Total certificates of deposit 1,259,698 7% 0.26% 0.48% Total deposits 17,015,097$ 100% 0.08% 0.08%

17© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Muni Bonds $1,379.5 31% MBS $1,485.3 33% CMO $614.7 14% Treasuries $111.8 2% Agency $555.2 12% Corp Notes $359.9 8% HIGH QUALITY SECURITIES PORTFOLIO Investment Securities as of June 30, 2021 Historical Balances and Yields Liquid, highly-rated securities portfolio • Investment securities totaled $4.51 billion, or 22% of total assets, as of June 30, 2021 • Increased $627.1 million from the prior quarter • Sold $280.2 million and recorded a $5.1 million gain • Held-to-Maturity securities were $18.9 million as of June 30, 2021 • Q2 2021 average yield of 1.70% • Portfolio effective duration of 5.1 years • Unrealized gain of $37.1 million $4.5 Billion Rating Muni MBS CMO Agency Corp Notes Treasuries Total % AAA $971.2 $1,485.3 $614.7 $555.2 $10.1 $111.8 $3,748.3 83.2% AA $404.7 -- -- -- -- -- $404.7 9.0% A $2.3 -- -- -- $119.1 -- $121.4 2.7% BBB $1.3 -- -- -- $230.7 -- $232.0 5.1% Total $1,379.5 $1,485.3 $614.7 $555.2 $359.9 $111.8 $4,506.4 100% Summary of Credit Ratings $2,369 $3,629 $3,955 $3,879 $4,506 $1,792 $3,284 $3,965 $4,087 $4,244 2.36% 1.73% 1.72% 1.71% 1.70% 2Q20 3Q20 4Q20 1Q21 2Q21 Period-end Balance Average Balance Average Yield

Loan Portfolio and Credit Quality

19© 2021 Pacific Premier Bancorp, Inc. | All rights reserved • 83% of loan portfolio is real estate secured • Geographically diversified Note: All dollars in thousands Note: SBA loans are unguaranteed portion and represent approximately 25% of principal balance for the respective borrower 1. As of June 30, 2021 and excludes the impact of fees, discounts and premiums 2. SBA loans that are collateralized by hotel real property 3. SBA loans that are collateralized by real property other than hotel real property 4. Based on state where primary real property collateral is located, if available, otherwise borrower address is used. All California information is for respective county Loans by Type Loans by Geography(4) DIVERSIFIED LOAN PORTFOLIO Balance Investor real estate secured CRE non-owner occupied 2,810,233$ 20.7 % 4.27 % Multifamily 5,539,464 40.7 3.89 Construction and land 297,728 2.2 5.02 SBA secured by real estate(2) 53,003 0.4 4.98 Total investor real estate secured 8,700,428 64.0 4.06 Business real estate secured CRE owner-occupied 2,089,300 15.4 4.29 Franchise real estate secured 358,120 2.6 4.87 SBA secured by real estate(3) 72,923 0.5 5.22 Total business real estate secured 2,520,343 18.5 4.40 Commercial Commercial and industrial 1,795,144 13.2 3.73 Franchise non-real estate secured 401,315 3.0 5.13 SBA non-real estate secured 13,900 0.1 5.61 Total commercial 2,210,359 16.3 4.00 Consumer Single family residential 157,228 1.2 4.16 Consumer 6,240 0.0 5.09 Total consumer 163,468 1.2 4.19 Total loans held for investment 13,594,598$ 100.0 % 4.11 % As of June 30, 2021 % of Total Weighted Average Rate(1)

20© 2021 Pacific Premier Bancorp, Inc. | All rights reserved ASSET QUALITY TRENDS Nonperforming Assets (% of Total Assets) Past Due Loans (% of Total Loans) Classified Loans (% of Total Loans) Net Charge-offs (% of Loans) Asset quality trends remain positive in current economic environment $34.2 $27.5 $29.2 $38.9 $34.4 0.17% 0.14% 0.15% 0.19% 0.17% 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Nonperforming Assets NPAs / Assets $38.2 $29.4 $13.3 $22.6 $19.3 0.25% 0.22% 0.10% 0.17% 0.14% 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Past Due Loans PD Loans / Loans HFI $4.7 $4.5 $6.4 $1.3 $1.1 0.04% 0.03% 0.05% 0.01% 0.01% 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Net Charge-offs NCOs / Avg Loans $90.3 $136.7 $128.3 $134.7 $131.4 0.60% 1.02% 0.97% 1.03% 0.97% 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Classified Loans Classified Loans / Loans HFI

21© 2021 Pacific Premier Bancorp, Inc. | All rights reserved 3.23% 1.65% 0.17% 4.21% 0.35% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 21 PPBI Peer Median CREDIT RISK MANAGEMENT Credit quality has historically outperformed peers, including the 2008-2012 credit cycle Nonperforming Assets to Total Assets Comparison CNB Failed- Bank Acquisition 2/11/11 PDNB Failed- Bank Acquisition 4/27/12 Note: Peer group consists of Western region banks and thrifts with total assets between $5 billion and $50 billion as of March 31, 2021

22© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Note: Prior to 2020, CRE Concentration Ratio defined as (Non-owner Occupied CRE + Construction + Multifamily) / Total Risk-based Capital 1. CRE Concentration Ratio in 2020 and after defined as (Non-owner Occupied CRE + Construction + Multifamily) / (Tier 1 Capital + ACL attributable to loans) CRE Concentration Ratio(1) 627% 499% 415% 372% 310% 349% 316%336% 362%352%365%376%389% 340%336% 287%287%275% 356%341%342%332%326%306% 285% 385%363%352%349%352% 0% 200% 400% 600% 800% Decreased Managed Growth Grandpoint Acquisition Experience in managing CRE concentrations well in excess of 300% • CRE concentrations are well-managed across the organization and stress tested semiannually Opus Acquisition CRE TO CAPITAL CONCENTRATION RATIO

PPBI Culture and Governance

24© 2021 Pacific Premier Bancorp, Inc. | All rights reserved CULTURE AT PACIFIC PREMIER BANK Our culture is defined by our Success Attributes

25© 2021 Pacific Premier Bancorp, Inc. | All rights reserved We are focused on transparency and continuous improvement in ESG Environmental ISS QualityScore: 4 Social ISS QualityScore: 3 Governance ISS QualityScore: 1 • We received the 2021 Corporate Responsibility Award from the Association for Corporate Growth • Our goal of establishing Supplier Diversity Program in 2021 is aligned with our purpose of investing in and empowering local and regional diverse businesses • We established a cross-functional Sustainability Working Group to further understand the implications of climate change on our business and explore opportunities for sustainable investments • We launched a new Premier Inclusion program and strategy that promotes initiatives related to diversity, equity and inclusion and hired an Organizational Development Partner to further mature the program for long-term impact Commitment to Continuous Improvement Alignment to the UN Sustainable Development Goals Our ESG initiatives and the support we give to organizations in our communities help us align to several UN SDGs Current environmental initiatives aim to improve disclosures, evaluate climate risk, and reduce our environmental impact Our commitment to our communities, customers and employees is at the core of our ESG strategy(1) Community Support 3,739 Volunteer Hours 330+ Community Partnerships Our full Board is responsible for overseeing ESG and corporate social responsibility efforts throughout our organization 83% of charitable giving benefited minority communities $50M Commitment to Equitable Impact Initiative • Early stages of developing a GHG emissions inventory and environmental impact of our loan standards • Initial assessment of potential impacts of climate-related risks and opportunities • Currently evaluating the adoption of a formal environmental disclosure framework, including the Sustainability Accounting Standards Board (“SASB”) and the Task Force on Climate-related Financial Disclosures (“TCFD”) methodologies 1. Community Partnerships and Support and Social Justice Initiatives data is for the 6-month period ended June 30, 2021 Social Justice Initiatives COMMITMENT TO ESG • The Board’s Nominating and Governance Committee, composed entirely of independent directors, is responsible for overseeing our strategy, policies and initiatives related to our ESG program • Specific aspects of ESG are overseen by other Board committees, including the Enterprise Risk Committee 5 Employee Highlights 52% Minority 48% Non-Minority 58% Female 42% Male 98% Full Time 2% Part Time

26© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Our Board continues to strengthen our corporate governance practices to enhance long-term shareholder value Board Independence • Lead Independent Director • Independent Board (9 of 10 directors are independent) • All Board committees composed of independent directors • Independent directors conduct regular executive sessions led by the Lead Independent Director Board Practices • Annual Board and committee assessments • Risk oversight and strategic planning by full Board and committees • Outside Board service limited to three additional Boards • Board has direct access to all of our Senior Executive Officers Board Accountability • Annual election of all directors • Majority vote standard in place (uncontested elections) • Shareholders have the ability to call a special meeting with 10% support • Shareholder engagement program with feedback incorporated into Board deliberations Stock Ownership / Compensation • Robust stock ownership guidelines for all Directors and Named Executive Officers • Clawback policy in place • Maintain restrictions on hedging and pledging shares of our stock • Double trigger vesting provisions in place CORPORATE GOVERNANCE

27© 2021 Pacific Premier Bancorp, Inc. | All rights reserved Commitment to regular refreshment to evolve our Board in line with our strategy Process Overview • Our Board is committed to annually reviewing the appropriate skills and characteristics required of directors and making recommendations for potential nominees • The Board also believes that diversity and inclusion in various respects is extremely important (currently 3 independent directors are female) and is mindful of this need as candidates are considered to fill current Board vacancies Key Selection Criteria  Integrity and independence  Composition of the board should reflect sensitivity to the need for diversity with respect to gender, ethnic background and experience  Substantial accomplishments, and prior or current association with institutions noted for their excellence  Demonstrated leadership ability, with broad experience, diverse perspectives and the ability to exercise sound business judgment  Public Company oversight experience  Significant experience in governance areas such as audit, corporate governance, enterprise risk, executive compensation practices, regulatory compliance, technology, data security and privacy.  Special skills, expertise or background that add to and complement the range of skills experiences and backgrounds  Career success that demonstrates the ability to make the kind of important and sensitive judgments that the Board is called upon to make  Availability and energy necessary to perform his or her duties as a director Our Process in Action Four Independent Directors Added Since 2018 • M. Christian Mitchell Prior Senior Partner, Deloitte • Barbara Polsky General Counsel, Jiko Group, Inc. and former Partner Manatt, Phelps & Phillips, LLP • Jaynie Studenmund Prior Head of Retail & Business Banking, First Interstate Bank, Great Western Bank, and Home Savings • Richard Thomas Prior EVP and CFO, CVB Financial Corporation BOARD REFRESHMENT & EVALUATION PROCESS

28© 2021 Pacific Premier Bancorp, Inc. | All rights reserved PPBI INVESTMENT THESIS  We have maintained a strong credit culture in both good times and bad  Emphasis on risk management has been and continues to be a key strength of our organization  Highly experienced and respected bank acquirer – 11 successful acquisitions since 2011  Financial results remain solid – strong capital ratios and core earnings  Our culture differentiates us and drives fundamentals for all stakeholders  We believe we are well-positioned to take advantage of opportunities that arise from this economic crisis  Shareholder value is our key focus – building long-term value for our owners  Diverse Board advising on strategy, overseeing risk and ESG, and supporting long-term value creation

Appendix Material

30© 2021 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands, except per share data Tangible common equity to tangible assets (the "tangible common equity ratio") and tangible book value per share are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate the tangible common equity ratio by excluding the balance of intangible assets from common stockholders' equity and dividing by tangible assets. We calculate tangible book value per share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing common stockholders’ equity by common shares outstanding. We believe that this information is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Accordingly, we believe that these non-U.S. GAAP financial measures provide information that is important to investors and that is useful in understanding our capital position and ratios. However, these non-U.S. GAAP financial measures are supplemental and are not a substitute for an analysis based on U.S. GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-U.S. GAAP measure of tangible common equity ratio to the U.S. GAAP measure of common equity ratio and tangible book value per share to the U.S. GAAP measure of book value per share are set forth below. March 31, June 30, 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 Total stockholders' equity 78,602$ 86,777$ 134,517$ 175,226$ 199,592$ 298,980$ 459,740$ 1,241,996$ 1,969,697$ 2,012,594$ 2,746,649$ 2,703,098$ 2,813,419$ Less: Intangible assets - 2,069 2,626 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 981,568 978,675 Tangible common equity 78,602$ 84,708$ 131,891$ 151,170$ 171,028$ 240,978$ 347,799$ 705,653$ 1,060,415$ 1,120,960$ 1,762,573$ 1,721,530$ 1,834,744$ Total assets 826,816$ 961,128$ 1,173,792$ 1,714,187$ 2,037,731$ 2,789,599$ 4,036,311$ 8,024,501$ 11,487,387$ 11,776,012$ 19,736,544$ 20,173,298$ 20,529,486$ Less: Intangible assets - 2,069 2,626 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 981,568 978,675 Tangible assets 826,816$ 959,059$ 1,171,166$ 1,690,131$ 2,009,167$ 2,731,597$ 3,924,370$ 7,488,158$ 10,578,105$ 10,884,378$ 18,752,468$ 19,191,730$ 19,550,811$ Tangible common equity ratio 9.51% 8.83% 11.26% 8.94% 8.51% 8.82% 8.86% 9.42% 10.02% 10.30% 9.40% 8.97% 9.38% Basic shares outstanding 10,033,836 10,337,626 13,661,648 16,656,279 16,903,884 21,570,746 27,798,283 46,245,050 62,480,755 59,506,057 94,483,136 94,644,415 94,656,575 Book value per share 7.83$ 8.39$ 9.85$ 10.52$ 11.81$ 13.86$ 16.54$ 26.86$ 31.52$ 33.82$ 29.07$ 28.56$ 29.72$ Less: Intangible book value per share - 0.20 0.19 1.44 1.69 2.69 4.03 11.60 14.55 14.98 10.42 10.37 10.34 Tangible book value per share 7.83$ 8.19$ 9.65$ 9.08$ 10.12$ 11.17$ 12.51$ 15.26$ 16.97$ 18.84$ 18.65$ 18.19$ 19.38$ As of December 31, As of

31© 2021 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands 1. Annualized Return on average tangible common equity is a non-U.S. GAAP financial measure derived from U.S. GAAP-based amounts. We calculate this figure by excluding CDI amortization expense and excluding the average CDI and average goodwill from the average stockholders’ equity during the period. We believe that this non-U.S. GAAP financial measure provides information that is important to investors and that is useful in understanding our performance. This non-U.S. GAAP financial measure is supplemental and is not a substitute for an analysis based on U.S. GAAP measures. As companies may use different calculations for this measure, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the U.S. GAAP measure of return on average equity to the non-U.S. GAAP measure of return on average tangible common equity is set forth below. 6/30/2021 3/31/2021 6/30/2020 Net Income (loss) 96,302$ 68,668$ (99,091)$ Plus: amortization of intangible assets expense 4,001 4,143 4,066 Less: amortization of intangible assets expense tax adjustment 1,145 1,185 1,166 Net income for average tangible common equity 99,158$ 71,626$ (96,191)$ Plus: merger-related expense - 5 39,346 Less: merger-related expense tax adjustment - 1 11,284 Net income for average tangible common equity excluding merger-related expenses 99,158$ 71,630$ (68,129)$ Average stockholders' equity 2,747,308$ 2,749,641$ 2,231,722$ Less: average intangible assets 79,784 83,946 84,148 Less: average goodwill 900,582 898,587 838,725 Average tangible common equity 1,766,942$ 1,767,108$ 1,308,849$ Return on average equity(1) 14.02% 9.99% (17.76%) Return on average tangible common equity(1) 22.45% 16.21% (29.40%) Return on average tangible common equity excluding merger-related expense(1) 22.45% 16.21% (20.82%) Three Months Ended,

32© 2021 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands 1. Losses from 2013-2016 related to Other Than Temporary Impairment For periods presented below, efficiency ratio is a non-U.S. GAAP financial measure derived from U.S. GAAP-based amounts. This figure represents the ratio of noninterest expense less other real estate owned operations, amortization of intangible assets expense, and merger-related expense to the sum of net interest income before provision for loan losses and total noninterest income, less gain/(loss) on sale of securities, other income – security recoveries, and gain/(loss) on sale of other real estate owned. Management believes that the exclusion of such items from this financial measures provides useful information to gain an understanding of the operating results of our core business. This non-U.S. GAAP financial measure is supplemental and is not a substitute for an analysis based on U.S. GAAP measures. As companies may use different calculations for this measure, this presentation may not be comparable to other similarly titled measures reported by other companies. A calculation of the non-U.S. GAAP measure of efficiency ratio is set forth below. FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Q1 2021 Q2 2021 Total noninterest expense 50,815$ 54,938$ 73,332$ 98,063$ 167,958$ 249,905$ 259,065$ 381,119$ 92,489$ 94,496$ Less: amortization of intangible assets expense 764 1,014 1,350 2,039 6,144 13,594 17,245 17,072 4,143 4,001 Less: Merger-related expense 6,926 1,490 4,799 4,388 21,002 18,454 656 49,129 5 - Less: Other real estate owned operations, net 618 75 121 385 72 4 160 1 - - Noninterest expense, adjusted 42,507$ 52,359$ 67,062$ 91,251$ 140,740$ 217,853$ 241,004$ 314,917$ 88,341$ 90,495$ Net interest income 58,444$ 73,635$ 106,299$ 153,075$ 247,502$ 392,711$ 447,301$ 574,211$ 161,652$ 160,934$ Plus: Total noninterest income 8,811 13,377 14,388 19,602 31,114 31,027 35,236 71,325 23,740 26,729 Less: Net gain (loss) from investment securities 1,544 1,547 290 1,797 2,737 1,399 8,571 13,882 4,046 5,085 Less: Other income - security recoveries(1) (4) (29) - (205) 1 4 2 2 2 6 Less: Net gain (loss) from other real estate owned - - - 18 46 281 52 (112) - - Less: Net gain (loss) from debt extinguishment - - - - - - (612) - (503) (647) Revenue, adjusted 65,715$ 85,494$ 120,397$ 171,067$ 275,832$ 422,054$ 474,524$ 631,764$ 181,847$ 183,219$ Efficiency Ratio 64.7% 61.3% 55.9% 53.6% 51.0% 51.6% 50.8% 49.8% 48.6% 49.4%

33© 2021 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands 1. Annualized Pre-provision net revenue is a non-U.S. GAAP financial measure derived from U.S. GAAP-based amounts. We calculate pre-provision net revenue by excluding income tax, provision for credit losses, and merger-related expenses from net income. Management believes that the exclusion of such items from this financial measures provides useful information to gain an understanding of the operating results of our core business. This non-U.S. GAAP financial measure is supplemental and is not a substitute for an analysis based on U.S. GAAP measures. As companies may use different calculations for this measure, this presentation may not be comparable to other similarly titled measures reported by other companies. A calculation of the non-U.S. GAAP measure of pre-provision net revenue is set forth below. FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Q1 2021 Q2 2021 Interest income 63,800$ 81,339$ 118,356$ 166,605$ 270,005$ 448,423$ 526,107$ 630,726$ 172,994$ 170,692$ Interest expense 5,356 7,704 12,057 13,530 22,503 55,712 78,806 56,515 11,342 9,758 Net interest income 58,444 73,635 106,299 153,075 247,502 392,711 447,301 574,211 161,652 160,934 Noninterest income 8,811 13,377 14,388 19,602 31,114 31,027 35,236 71,325 23,740 26,729 Revenue 67,255 87,012 120,687 172,677 278,616 423,738 482,537 645,536 185,392 187,663 Noninterest expense 50,815 54,938 73,332 98,063 167,958 249,905 259,065 381,119 92,489 94,496 Add: Merger-related expense 6,926 1,490 4,799 4,388 21,002 18,454 656 49,129 5 - Pre-provision net revenue 23,366$ 33,564$ 52,154$ 79,002$ 131,660$ 192,287$ 224,128$ 313,546$ 92,908$ 93,167$ Pre-provision net revenue (annualized) 23,366$ 33,564$ 52,154$ 79,002$ 131,660$ 192,287$ 224,128$ 313,546$ 371,632$ 372,668$ Average Assets 1,441,555$ 1,827,935$ 2,621,545$ 3,601,411$ 6,094,883$ 9,794,917$ 11,546,912$ 16,817,242$ 19,994,260$ 20,290,415$ PPNR / Average Assets 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 0.46% 0.46% PPNR / Average Assets (annualized) 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.86% 1.84%

34© 2021 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Core net interest income and core net interest margin are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate core net interest income by excluding scheduled accretion income, accelerated accretion income, premium amortization on CD and nonrecurring nonaccrual interest paid from net interest income. The core net interest margin is calculated as the ratio of core net interest income to average interest-earning assets. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business. Core loan interest income and core loan yields are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate core loan interest income by excluding scheduled accretion income, accelerated accretion income and nonrecurring nonaccrual interest paid from loan interest income. The core loan yield is calculated as the ratio of core loan interest income to average loans. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business. Note: All dollars in thousands FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Q1 2021 Q2 2021 Net interest income 58,444$ 73,635$ 106,299$ 153,075$ 247,502$ 392,711$ 447,301$ 574,211$ 161,652$ 160,934$ Less: Accretion income 3,241 1,927 4,387 9,178 12,901 16,082 20,609 33,180 9,866 9,487 Less: Premium amortization on CD 139 143 200 411 969 1,551 521 6,443 1,751 942 Less: Nonrecurring nonaccrual interest paid - - - - - 380 470 (95) (603) (216) Core net interest income 55,064$ 71,565$ 101,712$ 143,486$ 233,632$ 374,698$ 425,701$ 534,683$ 150,638$ 150,721$ Average interest-earning assets 1,399,806$ 1,750,871$ 2,503,009$ 3,414,847$ 5,583,774$ 8,836,075$ 10,319,552$ 15,373,474$ 18,490,426$ 18,783,803$ Net interest margin 4.18% 4.21% 4.25% 4.48% 4.43% 4.44% 4.33% 3.74% 3.55% 3.44% Core net interest margin 3.93% 4.09% 4.06% 4.20% 4.18% 4.24% 4.13% 3.48% 3.30% 3.22% FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Q1 2021 Q2 2021 Loan interest income 58,089$ 75,751$ 111,097$ 157,935$ 251,027$ 415,410$ 485,663$ 577,558$ 155,225$ 152,365$ Less: Loan accretion 3,241 1,927 4,387 9,178 12,901 16,082 20,609 33,180 9,866 9,487 Less: Nonrecurring nonaccrual interest paid - - - - - 380 470 (95) (603) (216) Core loan interest income 54,848$ 73,824$ 106,710$ 148,757$ 238,126$ 398,948$ 464,584$ 544,473$ 145,962$ 143,094$ Average loans 1,039,654$ 1,424,727$ 2,061,788$ 2,900,379$ 4,724,808$ 7,527,004$ 8,768,389$ 11,819,898$ 13,093,609$ 13,216,973$ Loan yield 5.59% 5.32% 5.39% 5.45% 5.31% 5.52% 5.54% 4.89% 4.81% 4.62% Core loan yield 5.28% 5.18% 5.18% 5.13% 5.04% 5.30% 5.30% 4.61% 4.52% 4.34%

XML

Cover Page Statement	Jul. 27, 2021	Apr. 27, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 27, 2021
Entity Registrant Name		PACIFIC PREMIER BANCORP INC
Entity Central Index Key		0001028918
Amendment Flag		false
Entity Incorporation, State or Country Code	DE
Entity File Number	0-22193
Entity Tax Identification Number	33-0743196
Entity Address, Address Line One	17901 Von Karman Avenue
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	949
Local Phone Number	864-8000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	PPBI
Security Exchange Name	NASDAQ