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)		October 24, 2023
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 October 24, 2023, Pacific Premier Bancorp, Inc. (“PPBI”) issued a press release setting forth its (unaudited) financial results for the third quarter of 2023. 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 September 30, 2023 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 October 23, 2023, PPBI’s Board of Directors declared a $0.33 per share dividend, payable on November 13, 2023 to shareholders of record on November 3, 2023.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

99.1	Press Release dated October 24, 2023
99.2	Investor Presentation, Third Quarter 2023
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:	October 24, 2023	By:	/s/ STEVEN R. GARDNER
			Steven R. Gardner
			Chairman, Chief Executive Officer, and President

EX-99.1

Exhibit 99.1

Pacific Premier Bancorp, Inc. Announces Third Quarter 2023 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share

Third Quarter 2023 Summary

•Net income of $46.0 million, or $0.48 per diluted share

•Return on average assets of 0.88%, return on average equity of 6.43%, and return on average tangible common equity(1) of 10.08%

•Pre-provision net revenue (“PPNR”)(1) to average assets of 1.27%, annualized

•Net interest margin of 3.12%

•Cost of deposits of 1.50%, and cost of non-maturity deposits(1) of 0.89%

•Total delinquency of 0.08% of loans held for investment, and nonperforming assets to total assets of 0.13%

•Common equity tier 1 capital ratio of 14.87%, and total risk-based capital ratio of 17.74%

•Tangible book value per share(1) of $19.89; tangible common equity ratio(1) of 9.87%

•Available liquidity of $9.60 billion; cash and cash equivalents was $1.40 billion, and unused borrowing capacity of $8.20 billion at quarter end

Irvine, Calif., October 24, 2023 -- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) (the “Company” or “Pacific Premier”), the holding company of Pacific Premier Bank (the “Bank”), reported net income of $46.0 million, or $0.48 per diluted share, for the third quarter of 2023, compared with net income of $57.6 million, or $0.60 per diluted share, for the second quarter of 2023, and net income of $73.4 million, or $0.77 per diluted share, for the third quarter of 2022.

For the quarter ended September 30, 2023, the Company’s return on average assets (“ROAA”) was 0.88%, return on average equity (“ROAE”) was 6.43%, and return on average tangible common equity (“ROATCE”)(1) was 10.08%, compared to 1.09%, 8.11%, and 12.66%, respectively, for the second quarter of 2023, and 1.35%, 10.57%, and 16.74%, respectively, for the third quarter of 2022. Total assets were $20.28 billion at September 30, 2023, compared to $20.75 billion at June 30, 2023, and $21.62 billion at September 30, 2022.

Steven R. Gardner, Chairman, Chief Executive Officer, and President of the Company, commented, “Our teams continue to deliver solid results in a challenging economic and interest rate environment. We maintained our disciplined focus on prudent and proactive risk, liquidity, and capital management during the quarter. Our relationship managers' extraordinary efforts to deepen existing client relationships and bring new clients into our franchise are producing tangible results. During the quarter, client deposit flows further stabilized in the face of significant pricing competition, and we were able to reduce higher cost brokered deposits by $490 million.

"Our asset quality remained solid during the quarter, as total delinquencies decreased to 0.08% of loans, and non-performing assets were just 0.13% of total assets. Our operating results were impacted by a shared national credit that resulted in two non-relationship loans to one borrower being placed on nonaccrual status during the quarter. This resulted in an interest accrual reversal of $1.7 million and a charge-off of $3.2 million. The borrower on this $13 million credit continues to make payments. Our total shared national credit portfolio, which is a line of business we acquired from Opus Bank in 2020 that we have since discontinued, is comprised of twenty-two loans totaling $201 million in outstanding balances, or 1.5% of total loans, at September 30th.

(1)Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures are set forth at the end of this press release.

1

“During the past several quarters, we intentionally and proactively prioritized capital accumulation over balance sheet growth in light of the uncertain economic outlook, while at the same time continuing to provide best-in-class service to our clients and the communities we serve. As a result, we have created optionality for our organization to pursue organic and strategic growth opportunities that we believe will be accretive and aligned with our commitment to producing long-term value for our shareholders.

“I would like to thank all of the Pacific Premier employees for their outstanding efforts during the quarter, and our Board of Directors, shareholders, and stakeholders for continuing to support our organization through another dynamic period of time.”

2

FINANCIAL HIGHLIGHTS

	Three Months Ended
	September 30,			June 30,			September 30,
(Dollars in thousands, except per share data)	2023			2023			2022
Financial highlights (unaudited)
Net income	$	46,030		$	57,636		$	73,363
Net interest income	149,548			160,092			181,112
Diluted earnings per share	0.48			0.60			0.77
Common equity dividend per share paid	0.33			0.33			0.33
Return on average assets	0.88		%	1.09		%	1.35		%
Return on average equity	6.43			8.11			10.57
Return on average tangible common equity (1)	10.08			12.66			16.74
Pre-provision net revenue to average assets (1)	1.27			1.52			1.85
Net interest margin	3.12			3.33			3.61
Cost of deposits	1.50			1.27			0.22
Cost of non-maturity deposits (1)	0.89			0.71			0.11
Efficiency ratio (1)	59.0			54.1			48.3
Noninterest expense as a percent of average assets	1.96			1.91			1.86
Total assets	$	20,275,720		$	20,747,883		$	21,619,201
Total deposits	16,007,447			16,539,875			17,746,374
Non-maturity deposits as a percent of total deposits	82.8		%	81.4		%	89.5		%
Noninterest-bearing deposits as a percent of total deposits	36.1			35.6			38.2
Loan-to-deposit ratio	82.9			82.3			84.0
Book value per share	$	29.78		$	29.71		$	28.79
Tangible book value per share (1)	19.89			19.79			18.68
Tangible common equity ratio	9.87		%	9.59		%	8.59		%
Common equity tier 1 capital ratio	14.87			14.34			12.36
Total capital ratio	17.74			17.24			14.83

______________________________

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

3

INCOME STATEMENT HIGHLIGHTS

Net Interest Income and Net Interest Margin

Net interest income totaled $149.5 million in the third quarter of 2023, a decrease of $10.5 million, or 6.6%, from the second quarter of 2023. The decrease in net interest income was primarily attributable to a higher cost of funds as a result of the current interest rate environment and lower average loans and investment securities balances, partially offset by higher interest-bearing cash balances.

The net interest margin for the third quarter of 2023 decreased 21 basis points to 3.12%, from 3.33% in the prior quarter. The lower net interest margin was due to a higher cost of funds and lower loan prepayment fees, partially offset by higher yields on interest-bearing cash balances and investment securities. The net interest margin was negatively impacted 4 basis points as a result of reversing $1.7 million of accrued interest for the shared national credit through September 30, 2023.

Net interest income for the third quarter of 2023 decreased $31.6 million, or 17.4%, compared to the third quarter of 2022. The decrease was attributable to a higher cost of funds and lower average loans and investment securities balances, partially offset by higher yields on average interest-earning assets.

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCES AND YIELD DATA
(Unaudited)
	Three Months Ended
	September 30, 2023						June 30, 2023						September 30, 2022
(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	$	1,695,508	$	21,196	4.96	%	$	1,433,137	$	16,600	4.65	%	$	665,510	$	2,754	1.64	%
Investment securities	3,828,766		25,834		2.70		3,926,568		25,936		2.64		4,277,444		22,067		2.06
Loans receivable, net (1) (2)	13,475,194		177,032		5.21		13,927,145		182,852		5.27		14,986,682		174,204		4.61
Total interest-earning assets	$	18,999,468	$	224,062	4.68		$	19,286,850	$	225,388	4.69		$	19,929,636	$	199,025	3.96
Liabilities
Interest-bearing deposits	$	10,542,884	$	62,718	2.36	%	$	10,797,708	$	53,580	1.99	%	$	10,839,359	$	9,873	0.36	%
Borrowings	1,131,656		11,796		4.15		1,131,465		11,716		4.15		966,981		8,040		3.31
Total interest-bearing liabilities	$	11,674,540	$	74,514	2.53		$	11,929,173	$	65,296	2.20		$	11,806,340	$	17,913	0.60
Noninterest-bearing deposits	$	6,001,033					$	6,078,543					$	6,893,463
Net interest income			$	149,548					$	160,092					$	181,112
Net interest margin (3)					3.12	%					3.33	%					3.61	%
Cost of deposits (4)					1.50						1.27						0.22
Cost of funds (5)					1.67						1.45						0.38
Cost of non-maturity deposits (6)					0.89						0.71						0.11
Ratio of interest-earning assets to interest-bearing liabilities					162.74						161.68						168.80

_______________________________________

(1) Average balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs, discounts/premiums, and the basis adjustment of certain loans included in fair value hedging relationships.

(2) Interest income includes net discount accretion of $2.2 million, $2.9 million, and $4.6 million for the three months ended September 30, 2023, June 30, 2023, and September 30, 2022, respectively.

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

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

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

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

4

Provision for Credit Losses

For the third quarter of 2023, the Company recorded $3.9 million provision expense, compared to $1.5 million for the second quarter of 2023, and $1.1 million for the third quarter of 2022. The provision for credit losses was impacted by changes to the overall size, composition and asset quality trends of the loan portfolio, as well as changes in the Company's macroeconomic forecasts.

	Three Months Ended
	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Provision for credit losses
Provision for loan losses	$	2,517	$	610	$	546
Provision for unfunded commitments	1,386		1,003		549
Provision for held-to-maturity securities	15		(114)		(18)
Total provision for credit losses	$	3,918	$	1,499	$	1,077

Noninterest Income

Noninterest income for the third quarter of 2023 was $18.6 million, a decrease of $2.0 million from the second quarter of 2023. The decrease was primarily due to a $1.8 million decrease in other income largely attributable to decreases in income on Community Reinvestment Act (“CRA”) and other equity investments.

Noninterest income for the third quarter of 2023 decreased $1.6 million compared to the third quarter of 2022. The decrease was primarily due to an $800,000 decrease in other income primarily due to lower income on CRA and other equity investments and a $617,000 decrease in escrow and exchange fees attributable to lower commercial real estate transaction activity.

	Three Months Ended
	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Noninterest income
Loan servicing income	$	533	$	493	$	397
Service charges on deposit accounts	2,673		2,670		2,704
Other service fee income	280		315		323
Debit card interchange fee income	924		914		808
Earnings on bank owned life insurance	3,579		3,487		3,339
Net gain from sales of loans	45		345		457
Net loss from sales of investment securities	—		—		(393)
Trust custodial account fees	9,356		9,360		9,951
Escrow and exchange fees	938		924		1,555
Other income	223		2,031		1,023
Total noninterest income	$	18,551	$	20,539	$	20,164

5

Noninterest Expense

Noninterest expense totaled $102.2 million for the third quarter of 2023, an increase of $1.5 million compared to the second quarter of 2023, primarily due to a $1.6 million increase in deposit expense driven by higher deposit earnings credit rates, and a $644,000 increase in compensation and benefits.

Noninterest expense increased by $1.3 million compared to the third quarter of 2022. The increase was primarily due to a $6.0 million increase in deposit expense driven by higher deposit earnings credit rates, partially offset by a $2.3 million decrease in compensation and benefits from reduced staffing levels.

	Three Months Ended
	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Noninterest expense
Compensation and benefits	$	54,068	$	53,424	$	56,355
Premises and occupancy	11,382		11,615		12,011
Data processing	7,517		7,488		7,058
Other real estate owned operations, net	(4)		8		—
FDIC insurance premiums	2,324		2,357		1,461
Legal and professional services	4,243		4,716		4,075
Marketing expense	1,635		1,879		1,912
Office expense	1,079		1,280		1,338
Loan expense	476		567		789
Deposit expense	10,811		9,194		4,846
Amortization of intangible assets	3,055		3,055		3,472
Other expense	5,599		5,061		7,549
Total noninterest expense	$	102,185	$	100,644	$	100,866

Income Tax

For the third quarter of 2023, income tax expense totaled $16.0 million, resulting in an effective tax rate of 25.8%, compared with income tax expense of $20.9 million and an effective tax rate of 26.6% for the second quarter of 2023, and income tax expense of $26.0 million and an effective tax rate of 26.1% for the third quarter of 2022.

6

BALANCE SHEET HIGHLIGHTS

Loans

Loans held for investment totaled $13.27 billion at September 30, 2023, a decrease of $340.2 million, or 2.5%, from June 30, 2023, and a decrease of $1.64 billion, or 11.0%, from September 30, 2022. The decrease from June 30, 2023 was primarily due to lower loan production and fundings, partially offset by slower loan prepayments. The decrease from September 30, 2022 was primarily driven by lower loan fundings.

During the third quarter of 2023, new loan commitments totaled $67.8 million, and loan fundings totaled $25.6 million, compared with $148.5 million in loan commitments and $71.6 million in new loan fundings for the second quarter of 2023, and $789.2 million in loan commitments and $450.7 million in new loan fundings for the third quarter of 2022. During the third quarter of 2023, new origination activity remained muted given the uncertain economic and interest rate compared to the production levels seen in the third quarter of 2022.

At September 30, 2023, the total loan-to-deposit ratio was 82.9%, compared to 82.3% and 84.0% at June 30, 2023 and September 30, 2022, respectively.

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

	Three Months Ended
	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Beginning gross loan balance before basis adjustment	$	13,665,596	$	14,223,036	$	15,101,652
New commitments	67,811		148,482		789,198
Unfunded new commitments	(42,185)		(76,928)		(338,534)
Net new fundings	25,626		71,554		450,664
Amortization/maturities/payoffs	(370,044)		(582,948)		(568,615)
Net draws on existing lines of credit	7,180		36,393		21,416
Loan sales	(1,206)		(78,349)		(24,701)
Charge-offs	(7,561)		(3,986)		(1,318)
Transferred to other real estate owned	—		(104)		—
Net decrease	(346,005)		(557,440)		(122,554)
Ending gross loan balance before basis adjustment	$	13,319,591	$	13,665,596	$	14,979,098
Basis adjustment associated with fair value hedge (1)	(48,830)		(53,130)		(68,124)
Ending gross loan balance	$	13,270,761	$	13,612,466	$	14,910,974

______________________________

(1) Represents the basis adjustment associated with the application of hedge accounting on certain loans.

7

The following table presents the composition of the loans held for investment as of the dates indicated:

	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Investor loans secured by real estate
Commercial real estate (“CRE”) non-owner-occupied	$	2,514,056	$	2,571,246	$	2,771,272
Multifamily	5,719,210		5,788,030		6,199,581
Construction and land	444,576		428,287		373,194
SBA secured by real estate (1)	37,754		38,876		42,998
Total investor loans secured by real estate	8,715,596		8,826,439		9,387,045
Business loans secured by real estate (2)
CRE owner-occupied	2,228,802		2,281,721		2,477,530
Franchise real estate secured	313,451		318,539		383,468
SBA secured by real estate (3)	53,668		57,084		64,002
Total business loans secured by real estate	2,595,921		2,657,344		2,925,000
Commercial loans (4)
Commercial and industrial	1,588,771		1,744,763		2,164,623
Franchise non-real estate secured	335,053		351,944		409,773
SBA non-real estate secured	10,667		9,688		11,557
Total commercial loans	1,934,491		2,106,395		2,585,953
Retail loans
Single family residential (5)	70,984		70,993		75,176
Consumer	1,958		2,241		3,761
Total retail loans	72,942		73,234		78,937
Loans held for investment before basis adjustment (6)	13,318,950		13,663,412		14,976,935
Basis adjustment associated with fair value hedge (7)	(48,830)		(53,130)		(68,124)
Loans held for investment	13,270,120		13,610,282		14,908,811
Allowance for credit losses for loans held for investment	(188,098)		(192,333)		(195,549)
Loans held for investment, net	$	13,082,022	$	13,417,949	$	14,713,262
Total unfunded loan commitments	$	2,110,565	$	2,202,647	$	2,823,555
Loans held for sale, at lower of cost or fair value	$	641	$	2,184	$	2,163

______________________________

(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 $46.2 million, $48.4 million, and $59.0 million as of September 30, 2023, June 30, 2023, and September 30, 2022, respectively.

(7) Represents the basis adjustment associated with the application of hedge accounting on certain loans.

The total end-of-period weighted average interest rate on loans, excluding fees and discounts, at September 30, 2023 was 4.76%, compared to 4.73% at June 30, 2023, and 4.34% at September 30, 2022. The quarter-over-quarter and year-over-year increases reflect higher rates on new originations and the repricing of loans as a result of the increases in benchmark interest rates.

8

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

	Three Months Ended
	September 30,		June 30,		September 30,
(Dollars in thousands)	2023		2023		2022
Investor loans secured by real estate
CRE non-owner-occupied	$	2,900	$	1,470	$	88,708
Multifamily	3,687		53,522		151,269
Construction and land	17,400		24,525		123,557
Total investor loans secured by real estate	23,987		79,517		363,534
Business loans secured by real estate (1)
CRE owner-occupied	—		3,062		80,676
Franchise real estate secured	—		—		14,011
SBA secured by real estate (2)	—		—		6,468
Total business loans secured by real estate	—		3,062		101,155
Commercial loans (3)
Commercial and industrial	40,399		58,730		288,857
Franchise non-real estate secured	—		1,853		22,413
SBA non-real estate secured	406		1,612		4,673
Total commercial loans	40,805		62,195		315,943
Retail loans
Single family residential (4)	3,019		3,708		8,566
Total retail loans	3,019		3,708		8,566
Total loan commitments	$	67,811	$	148,482	$	789,198

______________________________

(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 increased to 8.01% in the third quarter of 2023, compared to 6.72% in the second quarter of 2023, and 5.55% in the third quarter of 2022.

9

Asset Quality and Allowance for Credit Losses

At September 30, 2023, our allowance for credit losses (“ACL”) on loans held for investment was $188.1 million, a decrease of $4.2 million from June 30, 2023, and a decrease of $7.5 million from September 30, 2022. The decrease in the ACL from June 30, 2023 and September 30, 2022 was commensurate with the relative decreases in loans held for investment balances.

During the third quarter of 2023, the Company incurred $6.8 million of net charge-offs, compared to $3.7 million during the second quarter of 2023, and $1.1 million during the third quarter of 2022.

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 September 30, 2023
(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	$	31,545	$	—	$	51	$	(13)	$	31,583
Multifamily	55,648		—		—		(427)		55,221
Construction and land	7,707		—		—		799		8,506
SBA secured by real estate (1)	2,331		(108)		—		(24)		2,199
Business loans secured by real estate (2)
CRE owner-occupied	28,515		—		12		559		29,086
Franchise real estate secured	6,855		—		—		711		7,566
SBA secured by real estate (3)	4,511		—		128		(77)		4,562
Commercial loans (4)
Commercial and industrial	39,586		(7,386)		565		(268)		32,497
Franchise non-real estate secured	14,642		—		50		1,087		15,779
SBA non-real estate secured	399		(67)		3		137		472
Retail loans
Single family residential (5)	455		—		—		36		491
Consumer loans	139		—		—		(3)		136
Totals	$	192,333	$	(7,561)	$	809	$	2,517	$	188,098

______________________________

(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 September 30, 2023 increased slightly to 1.42%, compared to 1.41% at June 30, 2023, and 1.31% at September 30, 2022. The fair value net discount on loans acquired through acquisitions was $46.2 million, or 0.35% of total loans held for investment, as of September 30, 2023, compared to $48.4 million, or 0.35% of total loans held for investment, as of June 30, 2023, and $59.0 million, or 0.39% of total loans held for investment, as of September 30, 2022.

10

Nonperforming assets totaled $25.9 million, or 0.13% of total assets, at September 30, 2023, compared with $17.4 million, or 0.08% of total assets, at June 30, 2023, and $60.5 million, or 0.28% of total assets, at September 30, 2022. Loan delinquencies were $10.9 million, or 0.08% of loans held for investment, at September 30, 2023, compared to $31.0 million, or 0.23% of loans held for investment, at June 30, 2023, and $41.3 million, or 0.28% of loans held for investment, at September 30, 2022.

Classified loans totaled $149.3 million, or 1.12% of loans held for investment, at September 30, 2023, compared with $119.9 million, or 0.88% of loans held for investment, at June 30, 2023, and $110.1 million, or 0.74% of loans held for investment, at September 30, 2022.

The following table presents the asset quality metrics of the loan portfolio as of the dates indicated.

	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Asset quality
Nonperforming loans	$	25,458		$	17,151		$	60,464
Other real estate owned	450			270			—
Nonperforming assets	$	25,908		$	17,421		$	60,464
Total classified assets (1)	$	149,708		$	120,216		$	110,143
Allowance for credit losses	188,098			192,333			195,549
Allowance for credit losses as a percent of total nonperforming loans	739		%	1,121		%	323		%
Nonperforming loans as a percent of loans held for investment	0.19			0.13			0.41
Nonperforming assets as a percent of total assets	0.13			0.08			0.28
Classified loans to total loans held for investment	1.12			0.88			0.74
Classified assets to total assets	0.74			0.58			0.51
Net loan charge-offs for the quarter ended	$	6,752		$	3,665		$	1,072
Net loan charge-offs for the quarter to average total loans	0.05		%	0.03		%	0.01		%
Allowance for credit losses to loans held for investment (2)	1.42			1.41			1.31
Delinquent loans
30 - 59 days	$	2,967		$	649		$	1,484
60 - 89 days	475			31			6,535
90+ days	7,484			30,271			33,238
Total delinquency	$	10,926		$	30,951		$	41,257
Delinquency as a percentage of loans held for investment	0.08		%	0.23		%	0.28		%

______________________________

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

(2) At September 30, 2023, 24% of loans held for investment include a fair value net discount of $46.2 million, or 0.35% of loans held for investment. At June 30, 2023, 25% of loans held for investment include a fair value net discount of $48.4 million, or 0.35% of loans held for investment. At September 30, 2022, 27% of loans held for investment include a fair value net discount of $59.0 million, or 0.39% of loans held for investment.

11

Investment Securities

At September 30, 2023, available-for-sale (“AFS”) and held-to-maturity (“HTM”) investment securities were $1.91 billion and $1.74 billion, respectively, compared to $2.01 billion and $1.74 billion, respectively, at June 30, 2023, and $2.66 billion and $1.39 billion, respectively, at September 30, 2022.

In total, investment securities were $3.65 billion at September 30, 2023, a decrease of $96.9 million from June 30, 2023, and a decrease of $394.1 million from September 30, 2022. The decrease in the third quarter of 2023 compared to the prior quarter was primarily the result of $88.4 million in principal payments, amortization, and redemptions, and an increase of $21.9 million in AFS securities mark-to-market unrealized loss, partially offset by purchases of CRA related investment securities of $13.4 million.

The decrease in investment securities from September 30, 2022 was primarily the result of $370.3 million in principal payments, discounts from the AFS securities transferred to HTM, amortization, and redemptions, as well as $304.2 million in sales, partially offset by $245.7 million in purchases and a decrease of $27.7 million in AFS securities mark-to-market unrealized loss.

Deposits

At September 30, 2023, total deposits were $16.01 billion, a decrease of $532.4 million, or 3.2%, from June 30, 2023, and a decrease of $1.74 billion, or 9.8%, from September 30, 2022. The decrease from the prior quarter was largely driven by the reduction of $489.5 million in of brokered certificates of deposit.

At September 30, 2023, non-maturity deposits(1) totaled $13.25 billion, or 82.8% of total deposits, a decrease of $202.8 million, or 1.5%, from June 30, 2023, and a decrease of $2.62 billion, or 16.5%, from September 30, 2022. The decreases from prior quarters were largely driven by clients redeploying funds into higher yielding alternatives, prepaying or paying down loans, and, to a lesser extent, shifting depositor behavior following the industry-wide turmoil experienced in the first half of 2023.

At September 30, 2023, maturity deposits totaled $2.75 billion, a decrease of $329.6 million, or 10.7%, from June 30, 2023, and an increase of $881.7 million, or 47.1%, from September 30, 2022. The decrease in the third quarter of 2023 compared to the prior quarter was primarily due to the reduction of $489.5 million in brokered certificates of deposit, partially offset by an increase of $159.8 million in retail certificates of deposit.

The weighted average cost of total deposits for the third quarter of 2023 was 1.50%, compared to 1.27% for the second quarter of 2023, and 0.22% for the third quarter of 2022. The increases in the weighted average cost of deposits for the third quarter of 2023, compared to the second quarter of 2023 and the third quarter of 2022, were principally driven by higher pricing across deposit categories. The weighted average cost of non-maturity deposits(1) for the third quarter of 2023 was 0.89%, compared to 0.71% for the second quarter of 2023, and 0.11% for the third quarter of 2022.

At September 30, 2023, the end-of-period weighted average rate of total deposits was 1.52%, compared to 1.40% at June 30, 2023, and 0.37% at September 30, 2022. At September 30, 2023, the end-of-period weighted average rate of non-maturity deposits was 0.96%, compared to 0.78% at June 30, 2023, and 0.20% at September 30, 2022.

______________________________

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

12

The followingtablepresentsthecompositionof depositsasofthedates indicated.

	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Deposit accounts
Noninterest-bearing checking	$	5,782,305		$	5,895,975		$	6,775,465
Interest-bearing:
Checking	2,598,449			2,759,855			3,605,498
Money market/savings	4,873,582			4,801,288			5,493,988
Total non-maturity deposits (1)	13,254,336			13,457,118			15,874,951
Retail certificates of deposit	1,525,919			1,366,071			872,421
Wholesale/brokered certificates of deposit	1,227,192			1,716,686			999,002
Total maturity deposits	2,753,111			3,082,757			1,871,423
Total deposits	$	16,007,447		$	16,539,875		$	17,746,374
Cost of deposits	1.50		%	1.27		%	0.22		%
Cost of non-maturity deposits (1)	0.89			0.71			0.11
Noninterest-bearing deposits as a percent of total deposits	36.1			35.6			38.2
Non-maturity deposits (1) as a percent of total deposits	82.8			81.4			89.5

Borrowings

At September 30, 2023, total borrowings amounted to $1.13 billion, remaining flat from June 30, 2023, and reflecting an increase of $200.6 million from September 30, 2022. Total borrowings at September 30, 2023 were comprised of $800.0 million of Federal Home Loan Bank of San Francisco (“FHLB”) term advances and $331.7 million of subordinated debt. The increase in borrowings at September 30, 2023 as compared to September 30, 2022 was due to a net $200.0 million increase in FHLB term advances.

As of September 30, 2023, our unused borrowing capacity was $8.20 billion, which consists of available lines of credit with FHLB and other correspondent banks as well as access through the Federal Reserve Bank's discount window and the Bank Term Funding Program, neither of which were utilized during the third quarter of 2023.

Capital Ratios

At September 30, 2023, our common stockholders' equity was $2.86 billion, or 14.08% of total assets, compared with $2.85 billion, or 13.73%, at June 30, 2023, and $2.74 billion, or 12.65%, at September 30, 2022, with a book value per share of $29.78, compared with $29.71 at June 30, 2023, and $28.79 at September 30, 2022. At September 30, 2023, the ratio of tangible common equity to tangible assets(1) was 9.87%, compared with 9.59% at June 30, 2023, and 8.59% at September 30, 2022, and tangible book value per share(1) was $19.89, compared with $19.79 at June 30, 2023, and $18.68 at September 30, 2022.

______________________________

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

13

The Company implemented the current expected credit losses (“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. In the first quarter of 2022, the Company began phasing into regulatory capital the cumulative adjustments at the end of the second year of the transition period at 25% per year. At September 30, 2023, the Company and Bank were in compliance with the capital conservation buffer requirement and exceeded the minimum Common Equity Tier 1, Tier 1, and total capital ratios, inclusive of the fully phased-in capital conservation buffer of 7.0%, 8.5%, and 10.5%, respectively, and the Bank qualified as “well capitalized” for purposes of the federal bank regulatory prompt corrective action regulations.

	September 30,			June 30,			September 30,
Capital ratios	2023			2023			2022
Pacific Premier Bancorp, Inc. Consolidated
Tier 1 leverage ratio	11.13		%	10.90		%	10.12		%
Common equity tier 1 capital ratio	14.87			14.34			12.36
Tier 1 capital ratio	14.87			14.34			12.36
Total capital ratio	17.74			17.24			14.83
Tangible common equity ratio (1)	9.87			9.59			8.59
Pacific Premier Bank
Tier 1 leverage ratio	12.42		%	12.15		%	11.64		%
Common equity tier 1 capital ratio	16.59			15.99			14.23
Tier 1 capital ratio	16.59			15.99			14.23
Total capital ratio	17.66			17.05			15.05
Share data
Book value per share	$	29.78		$	29.71		$	28.79
Tangible book value per share (1)	19.89			19.79			18.68
Common equity dividends declared per share	0.33			0.33			0.33
Closing stock price (2)	21.76			20.68			30.96
Shares issued and outstanding	95,900,847			95,906,217			95,016,767
Market capitalization (2)(3)	$	2,086,802		$	1,983,341		$	2,941,719

______________________________

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

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

(3) Dollars in thousands.

14

Dividend and Stock Repurchase Program

On October 23, 2023, the Company's Board of Directors declared a $0.33 per share dividend, payable on November 13, 2023 to stockholders of record as of November 3, 2023. In January 2021, the Company’s Board of Directors approved a stock repurchase program, which authorized the repurchase of up to 4,725,000 shares of its common stock. During the third quarter of 2023, the Company did not repurchase any shares of common stock.

Subsequent Events

On October 6, 2023, in light of a stabilizing deposit base and as part of its balance sheet and liquidity management strategy, the Company deployed excess cash to pay down a $200.0 million higher cost FHLB term advance. Prior to the redemption, such FHLB term advance carried a fixed interest rate of 4.84% with a maturity date in May 2024. Total payment in aggregate was $199.4 million, including principal and accrued and unpaid interest expense, net of a prepayment credit of $793,000, which was recorded as a net gain on debt extinguishment. Management anticipates the deleverage strategy will positively impact the Company's cost of funds, net interest margin, and FHLB available borrowing capacity.

15

Conference Call and Webcast

The Company will host a conference call at 9:00 a.m. PT / 12:00 p.m. ET on October 24, 2023 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, Inc. conference call. Additionally, a telephone replay will be made available through October 31, 2023, at (877) 344-7529, replay code 9928068.

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, 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 approximately $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 approximately $17 billion of assets under custody and over 35,000 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, liquidity, 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. These 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; interest rate, liquidity, economic, market, credit, operational, and inflation risks associated with our business, including the speed and predictability of changes in these risks; our ability to attract and retain deposits and access to other sources of liquidity, particularly in a rising or high interest rate environment, and the quality and composition of our deposits; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the U.S. Federal budget or debt, or turbulence or uncertainty in domestic or foreign financial markets; 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

16

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; possible impairment charges to goodwill, including any impairment that may result from increased volatility in our stock price; 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; compliance risks, including the costs of monitoring, testing, and maintaining compliance with complex laws and regulations; the effectiveness of our risk management framework and quantitative models; the transition away from USD LIBOR and related uncertainty as well as the risk and costs related to our adoption of Secured Overnight Financing Rate (“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; possible credit-related impairments of securities held by us; changes in the level of our nonperforming assets and charge-offs; the impact of governmental efforts to restructure the U.S. financial regulatory system; the impact of recent or future changes in the FDIC insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount, including any special assessments; 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; the possibility that we may reduce or discontinue the payments of dividends on our common stock; the possibility that we may discontinue, reduce or otherwise limit the level of repurchases of our common stock we may make from time to time pursuant to our stock repurchase 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, including the war between Russia and Ukraine and the war in the Middle East, which could impact business and economic conditions in the United States and abroad; public health crises and pandemics, including with respect to COVID-19, 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 incidents, and related potential costs and risks, including reputation, financial and litigation risks; climate change, including the enhanced regulatory, compliance, credit, and reputational risks and costs; natural disasters, earthquakes, fires, and severe weather; 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 2022 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, Chief Executive Officer, and President

(949) 864-8000

Ronald J. Nicolas, Jr.

Senior Executive Vice President and Chief Financial Officer

(949) 864-8000

Matthew J. Lazzaro

Senior Vice President, Director of Investor Relations

(949) 243-1082

17

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
	September 30,		June 30,		March 31,		December 31,		September 30,
(Dollars in thousands)	2023		2023		2023		2022		2022
ASSETS
Cash and cash equivalents	$	1,400,276	$	1,463,677	$	1,424,896	$	1,101,249	$	739,211
Interest-bearing time deposits with financial institutions	1,242		1,487		1,734		1,734		1,733
Investment securities held-to-maturity, at amortized cost, net of allowance for credit losses	1,737,866		1,737,604		1,749,030		1,388,103		1,385,502
Investment securities available-for-sale, at fair value	1,914,599		2,011,791		2,112,852		2,601,013		2,661,079
FHLB, FRB, and other stock	105,505		105,369		105,479		119,918		118,778
Loans held for sale, at lower of amortized cost or fair value	641		2,184		1,247		2,643		2,163
Loans held for investment	13,270,120		13,610,282		14,171,784		14,676,298		14,908,811
Allowance for credit losses	(188,098)		(192,333)		(195,388)		(195,651)		(195,549)
Loans held for investment, net	13,082,022		13,417,949		13,976,396		14,480,647		14,713,262
Accrued interest receivable	68,131		70,093		69,660		73,784		66,192
Other real estate owned	450		270		5,499		—		—
Premises and equipment, net	59,396		61,527		63,450		64,543		65,651
Deferred income taxes, net	192,208		184,857		177,778		183,602		190,948
Bank owned life insurance	468,191		465,288		462,732		460,010		457,301
Intangible assets	46,307		49,362		52,417		55,588		59,028
Goodwill	901,312		901,312		901,312		901,312		901,312
Other assets	297,574		275,113		257,082		253,871		257,041
Total assets	$	20,275,720	$	20,747,883	$	21,361,564	$	21,688,017	$	21,619,201
LIABILITIES
Deposit accounts:
Noninterest-bearing checking	$	5,782,305	$	5,895,975	$	6,209,104	$	6,306,825	$	6,775,465
Interest-bearing:
Checking	2,598,449		2,759,855		2,871,812		3,119,850		3,605,498
Money market/savings	4,873,582		4,801,288		5,128,857		5,422,607		5,493,988
Retail certificates of deposit	1,525,919		1,366,071		1,257,146		1,086,423		872,421
Wholesale/brokered certificates of deposit	1,227,192		1,716,686		1,740,891		1,416,696		999,002
Total interest-bearing	10,225,142		10,643,900		10,998,706		11,045,576		10,970,909
Total deposits	16,007,447		16,539,875		17,207,810		17,352,401		17,746,374
FHLB advances and other borrowings	800,000		800,000		800,000		1,000,000		600,000
Subordinated debentures	331,682		331,523		331,364		331,204		331,045
Accrued expenses and other liabilities	281,057		227,351		191,229		206,023		206,386
Total liabilities	17,420,186		17,898,749		18,530,403		18,889,628		18,883,805
STOCKHOLDERS’ EQUITY
Common stock	937		937		937		933		933
Additional paid-in capital	2,371,941		2,366,639		2,361,830		2,362,663		2,357,731
Retained earnings	771,285		757,025		731,123		700,040		657,845
Accumulated other comprehensive loss	(288,629)		(275,467)		(262,729)		(265,247)		(281,113)
Total stockholders' equity	2,855,534		2,849,134		2,831,161		2,798,389		2,735,396
Total liabilities and stockholders' equity	$	20,275,720	$	20,747,883	$	21,361,564	$	21,688,017	$	21,619,201

18

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,
(Dollars in thousands, except per share data)	2023		2023		2022		2023		2022
INTEREST INCOME
Loans	$	177,032	$	182,852	$	174,204	$	540,842	$	489,263
Investment securities and other interest-earning assets	47,030		42,536		24,821		129,951		61,534
Total interest income	224,062		225,388		199,025		670,793		550,797
INTEREST EXPENSE
Deposits	62,718		53,580		9,873		156,532		14,228
FHLB advances and other borrowings	7,235		7,155		3,480		22,328		7,171
Subordinated debentures	4,561		4,561		4,560		13,683		13,682
Total interest expense	74,514		65,296		17,913		192,543		35,081
Net interest income before provision for credit losses	149,548		160,092		181,112		478,250		515,716
Provision for credit losses	3,918		1,499		1,077		8,433		1,994
Net interest income after provision for credit losses	145,630		158,593		180,035		469,817		513,722
NONINTEREST INCOME
Loan servicing income	533		493		397		1,599		1,318
Service charges on deposit accounts	2,673		2,670		2,704		7,972		8,009
Other service fee income	280		315		323		891		1,056
Debit card interchange fee income	924		914		808		2,641		2,580
Earnings on bank owned life insurance	3,579		3,487		3,339		10,440		9,800
Net gain from sales of loans	45		345		457		419		3,087
Net (loss) gain from sales of investment securities	—		—		(393)		138		1,710
Trust custodial account fees	9,356		9,360		9,951		29,741		31,884
Escrow and exchange fees	938		924		1,555		2,920		5,043
Other income	223		2,031		1,023		3,515		3,764
Total noninterest income	18,551		20,539		20,164		60,276		68,251
NONINTEREST EXPENSE
Compensation and benefits	54,068		53,424		56,355		161,785		170,898
Premises and occupancy	11,382		11,615		12,011		34,739		35,792
Data processing	7,517		7,488		7,058		22,270		19,658
Other real estate owned operations, net	(4)		8		—		112		—
FDIC insurance premiums	2,324		2,357		1,461		7,106		4,309
Legal and professional services	4,243		4,716		4,075		14,460		12,772
Marketing expense	1,635		1,879		1,912		5,352		5,647
Office expense	1,079		1,280		1,338		3,591		3,793
Loan expense	476		567		789		1,689		3,067
Deposit expense	10,811		9,194		4,846		28,441		12,678
Amortization of intangible assets	3,055		3,055		3,472		9,281		10,543
Other expense	5,599		5,061		7,549		15,355		18,331
Total noninterest expense	102,185		100,644		100,866		304,181		297,488
Net income before income taxes	61,996		78,488		99,333		225,912		284,485
Income tax expense	15,966		20,852		25,970		59,684		74,415
Net income	$	46,030	$	57,636	$	73,363	$	166,228	$	210,070
EARNINGS PER SHARE
Basic	$	0.48	$	0.60	$	0.77	$	1.74	$	2.22
Diluted	$	0.48	$	0.60	$	0.77	$	1.74	$	2.21
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic	94,189,844		94,166,083		93,793,502		94,072,463		93,687,230
Diluted	94,283,008		94,215,967		94,120,637		94,214,846		94,055,116

19

SELECTED FINANCIAL DATA

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCES AND YIELD DATA
(Unaudited)
	Three Months Ended
	September 30, 2023						June 30, 2023						September 30, 2022
(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	$	1,695,508	$	21,196	4.96	%	$	1,433,137	$	16,600	4.65	%	$	665,510	$	2,754	1.64	%
Investment securities	3,828,766		25,834		2.70		3,926,568		25,936		2.64		4,277,444		22,067		2.06
Loans receivable, net (1)(2)	13,475,194		177,032		5.21		13,927,145		182,852		5.27		14,986,682		174,204		4.61
Total interest-earning assets	18,999,468		224,062		4.68		19,286,850		225,388		4.69		19,929,636		199,025		3.96
Noninterest-earning assets	1,806,319						1,771,156						1,757,800
Total assets	$	20,805,787					$	21,058,006					$	21,687,436
Liabilities and equity
Interest-bearing deposits:
Interest checking	$	2,649,203	$	10,849	1.62	%	$	2,746,578	$	8,659	1.26	%	$	3,812,448	$	1,658	0.17	%
Money market	4,512,740		19,182		1.69		4,644,623		15,644		1.35		5,053,890		2,940		0.23
Savings	329,684		115		0.14		352,377		102		0.12		434,591		28		0.03
Retail certificates of deposit	1,439,531		13,398		3.69		1,286,160		10,306		3.21		835,645		1,420		0.67
Wholesale/brokered certificates of deposit	1,611,726		19,174		4.72		1,767,970		18,869		4.28		702,785		3,827		2.16
Total interest-bearing deposits	10,542,884		62,718		2.36		10,797,708		53,580		1.99		10,839,359		9,873		0.36
FHLB advances and other borrowings	800,049		7,235		3.59		800,016		7,155		3.59		636,006		3,480		2.17
Subordinated debentures	331,607		4,561		5.50		331,449		4,561		5.50		330,975		4,560		5.51
Total borrowings	1,131,656		11,796		4.15		1,131,465		11,716		4.15		966,981		8,040		3.31
Total interest-bearing liabilities	11,674,540		74,514		2.53		11,929,173		65,296		2.20		11,806,340		17,913		0.60
Noninterest-bearing deposits	6,001,033						6,078,543						6,893,463
Other liabilities	268,249						206,929						212,509
Total liabilities	17,943,822						18,214,645						18,912,312
Stockholders' equity	2,861,965						2,843,361						2,775,124
Total liabilities and equity	$	20,805,787					$	21,058,006					$	21,687,436
Net interest income			$	149,548					$	160,092					$	181,112
Net interest margin (3)					3.12	%					3.33	%					3.61	%
Cost of deposits (4)					1.50						1.27						0.22
Cost of funds (5)					1.67						1.45						0.38
Cost of non-maturity deposits (6)					0.89						0.71						0.11
Ratio of interest-earning assets to interest-bearing liabilities					162.74						161.68						168.80

______________________________

(1) Average balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs, discounts/premiums, and the basis adjustment of certain loans included in fair value hedging relationships.

(2) Interest income includes net discount accretion of $2.2 million, $2.9 million, and $4.6 million for the three months ended September 30, 2023, June 30, 2023, and September 30, 2022, respectively.

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

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

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

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

20

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
LOAN PORTFOLIO COMPOSITION
(Unaudited)
	September 30,		June 30,		March 31,		December 31,		September 30,
(Dollars in thousands)	2023		2023		2023		2022		2022
Investor loans secured by real estate
CRE non-owner-occupied	$	2,514,056	$	2,571,246	$	2,590,824	$	2,660,321	$	2,771,272
Multifamily	5,719,210		5,788,030		5,955,239		6,112,026		6,199,581
Construction and land	444,576		428,287		420,079		399,034		373,194
SBA secured by real estate (1)	37,754		38,876		40,669		42,135		42,998
Total investor loans secured by real estate	8,715,596		8,826,439		9,006,811		9,213,516		9,387,045
Business loans secured by real estate (2)
CRE owner-occupied	2,228,802		2,281,721		2,342,175		2,432,163		2,477,530
Franchise real estate secured	313,451		318,539		371,902		378,057		383,468
SBA secured by real estate (3)	53,668		57,084		60,527		61,368		64,002
Total business loans secured by real estate	2,595,921		2,657,344		2,774,604		2,871,588		2,925,000
Commercial loans (4)
Commercial and industrial	1,588,771		1,744,763		1,967,128		2,160,948		2,164,623
Franchise non-real estate secured	335,053		351,944		388,722		404,791		409,773
SBA non-real estate secured	10,667		9,688		10,437		11,100		11,557
Total commercial loans	1,934,491		2,106,395		2,366,287		2,576,839		2,585,953
Retail loans
Single family residential (5)	70,984		70,993		70,913		72,997		75,176
Consumer	1,958		2,241		3,174		3,284		3,761
Total retail loans	72,942		73,234		74,087		76,281		78,937
Loans held for investment before basis adjustment (6)	13,318,950		13,663,412		14,221,789		14,738,224		14,976,935
Basis adjustment associated with fair value hedge (7)	(48,830)		(53,130)		(50,005)		(61,926)		(68,124)
Loans held for investment	13,270,120		13,610,282		14,171,784		14,676,298		14,908,811
Allowance for credit losses for loans held for investment	(188,098)		(192,333)		(195,388)		(195,651)		(195,549)
Loans held for investment, net	$	13,082,022	$	13,417,949	$	13,976,396	$	14,480,647	$	14,713,262
Loans held for sale, at lower of cost or fair value	$	641	$	2,184	$	1,247	$	2,643	$	2,163

______________________________

(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 $46.2 million, $48.4 million, $52.2 million, $54.8 million, and $59.0 million as of September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022, and September 30, 2022, respectively.

(7) Represents the basis adjustment associated with the application of hedge accounting on certain loans.

21

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY INFORMATION
(Unaudited)
	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022
Asset quality
Nonperforming loans	$	25,458		$	17,151		$	24,872		$	30,905		$	60,464
Other real estate owned	450			270			5,499			—			—
Nonperforming assets	$	25,908		$	17,421		$	30,371		$	30,905		$	60,464
Total classified assets (1)	$	149,708		$	120,216		$	166,576		$	149,304		$	110,143
Allowance for credit losses	188,098			192,333			195,388			195,651			195,549
Allowance for credit losses as a percent of total nonperforming loans	739		%	1,121		%	786		%	633		%	323		%
Nonperforming loans as a percent of loans held for investment	0.19			0.13			0.18			0.21			0.41
Nonperforming assets as a percent of total assets	0.13			0.08			0.14			0.14			0.28
Classified loans to total loans held for investment	1.12			0.88			1.14			1.02			0.74
Classified assets to total assets	0.74			0.58			0.78			0.69			0.51
Net loan charge-offs for the quarter ended	$	6,752		$	3,665		$	3,284		$	3,797		$	1,072
Net loan charge-offs for the quarter to average total loans	0.05		%	0.03		%	0.02		%	0.03		%	0.01		%
Allowance for credit losses to loans held for investment (2)	1.42			1.41			1.38			1.33			1.31
Delinquent loans
30 - 59 days	$	2,967		$	649		$	761		$	20,538		$	1,484
60 - 89 days	475			31			1,198			185			6,535
90+ days	7,484			30,271			18,884			22,625			33,238
Total delinquency	$	10,926		$	30,951		$	20,843		$	43,348		$	41,257
Delinquency as a percent of loans held for investment	0.08		%	0.23		%	0.15		%	0.30		%	0.28		%

______________________________

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

(2) At September 30, 2023, 24% of loans held for investment include a fair value net discount of $46.2 million, or 0.35% of loans held for investment. At June 30, 2023, 25% of loans held for investment include a fair value net discount of $48.4 million, or 0.35% of loans held for investment. At March 31, 2023, 26% of loans held for investment include a fair value net discount of $52.2 million, or 0.37% of loans held for investment. At December 31, 2022, 26% of loans held for investment include a fair value net discount of $54.8 million, or 0.37% of loans held for investment. At September 30, 2022, 27% of loans held for investment include a fair value net discount of $59.0 million, or 0.39% of loans held for investment.

22

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
September 30, 2023
Investor loans secured by real estate
CRE non-owner-occupied	$	425	$	—	$	—	$	—	$	425	$	425
SBA secured by real estate (2)	1,242		—		—		—		1,242		1,242
Total investor loans secured by real estate	1,667		—		—		—		1,667		1,667
Business loans secured by real estate (3)
CRE owner-occupied	8,826		—		—		—		8,826		8,826
SBA secured by real estate (4)	1,173		—		—		—		1,173		1,173
Total business loans secured by real estate	9,999		—		—		—		9,999		9,999
Commercial loans (5)
Commercial and industrial	233		—		13,021		—		13,254		13,254
SBA not secured by real estate	538		—		—		—		538		538
Total commercial loans	771		—		13,021		—		13,792		13,792
Totals nonaccrual loans	$	12,437	$	—	$	13,021	$	—	$	25,458	$	25,458

______________________________

(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.

23

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
PAST DUE STATUS
(Unaudited)
			Days Past Due
(Dollars in thousands)	Current		30-59		60-89		90+		Total
September 30, 2023
Investor loans secured by real estate
CRE non-owner-occupied	$	2,513,631	$	—	$	—	$	425	$	2,514,056
Multifamily	5,719,210		—		—		—		5,719,210
Construction and land	444,576		—		—		—		444,576
SBA secured by real estate (1)	37,002		—		332		420		37,754
Total investor loans secured by real estate	8,714,419		—		332		845		8,715,596
Business loans secured by real estate (2)
CRE owner-occupied	2,224,107		—		—		4,695		2,228,802
Franchise real estate secured	313,451		—		—		—		313,451
SBA secured by real estate (3)	52,495		—		—		1,173		53,668
Total business loans secured by real estate	2,590,053		—		—		5,868		2,595,921
Commercial loans (4)
Commercial and industrial	1,585,718		2,677		143		233		1,588,771
Franchise non-real estate secured	335,053		—		—		—		335,053
SBA not secured by real estate	9,840		289		—		538		10,667
Total commercial loans	1,930,611		2,966		143		771		1,934,491
Retail loans
Single family residential (5)	70,984		—		—		—		70,984
Consumer loans	1,957		1		—		—		1,958
Total retail loans	72,941		1		—		—		72,942
Loans held for investment before basis adjustment (6)	$	13,308,024	$	2,967	$	475	$	7,484	$	13,318,950

______________________________

(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) Excludes the basis adjustment of $48.8 million to the carrying amount of certain loans included in fair value hedging relationships.

24

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES
CREDIT RISK GRADES
(Unaudited)
(Dollars in thousands)	Pass		Special Mention		Substandard		Doubtful		Total Gross Loans
September 30, 2023
Investor loans secured by real estate
CRE non-owner-occupied	$	2,475,554	$	7,005	$	31,497	$	—	$	2,514,056
Multifamily	5,706,494		234		12,482		—		5,719,210
Construction and land	444,576		—		—		—		444,576
SBA secured by real estate (1)	29,343		—		8,411		—		37,754
Total investor loans secured by real estate	8,655,967		7,239		52,390		—		8,715,596
Business loans secured by real estate (2)
CRE owner-occupied	2,167,522		34,811		26,469		—		2,228,802
Franchise real estate secured	294,520		13,871		5,060		—		313,451
SBA secured by real estate (3)	47,734		619		5,315		—		53,668
Total business loans secured by real estate	2,509,776		49,301		36,844		—		2,595,921
Commercial loans (4)
Commercial and industrial	1,445,826		102,152		35,824		4,969		1,588,771
Franchise non-real estate secured	312,418		4,396		18,239		—		335,053
SBA not secured by real estate	9,676		—		991		—		10,667
Total commercial loans	1,767,920		106,548		55,054		4,969		1,934,491
Retail loans
Single family residential (5)	70,983		—		1		—		70,984
Consumer loans	1,958		—		—		—		1,958
Total retail loans	72,941		—		1		—		72,942
Loans held for investment before basis adjustment (6)	$	13,006,604	$	163,088	$	144,289	$	4,969	$	13,318,950

______________________________

(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) Excludes the basis adjustment of $48.8 million to the carrying amount of certain loans included in fair value hedging relationships.

25

GAAP to NON-GAAP RECONCILIATIONS

PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES

(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
	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Net income	$	46,030		$	57,636		$	73,363
Plus: amortization of intangible assets expense	3,055			3,055			3,472
Less: amortization of intangible assets expense tax adjustment (1)	868			868			991
Net income for average tangible common equity	$	48,217		$	59,823		$	75,844
Average stockholders' equity	$	2,861,965		$	2,843,361		$	2,775,124
Less: average intangible assets	48,150			51,180			61,101
Less: average goodwill	901,312			901,312			901,312
Average tangible common equity	$	1,912,503		$	1,890,869		$	1,812,711
Return on average equity (annualized)	6.43		%	8.11		%	10.57		%
Return on average tangible common equity (annualized)	10.08		%	12.66		%	16.74		%

_____________________________________

(1) Adjusted by statutory tax rate.

26

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 and provision for credit losses 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
	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Interest income	$	224,062		$	225,388		$	199,025
Interest expense	74,514			65,296			17,913
Net interest income	149,548			160,092			181,112
Noninterest income	18,551			20,539			20,164
Revenue	168,099			180,631			201,276
Noninterest expense	102,185			100,644			100,866
Pre-provision net revenue	65,914			79,987			100,410
Pre-provision net revenue (annualized)	$	263,656		$	319,948		$	401,640
Average assets	$	20,805,787		$	21,058,006		$	21,687,436
Pre-provision net revenue to average assets	0.32		%	0.38		%	0.46		%
Pre-provision net revenue to average assets (annualized)	1.27		%	1.52		%	1.85		%

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.
	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands, except per share data)	2023			2023			2023			2022			2022
Total stockholders' equity	$	2,855,534		$	2,849,134		$	2,831,161		$	2,798,389		$	2,735,396
Less: intangible assets	947,619			950,674			953,729			956,900			960,340
Tangible common equity	$	1,907,915		$	1,898,460		$	1,877,432		$	1,841,489		$	1,775,056
Total assets	$	20,275,720		$	20,747,883		$	21,361,564		$	21,688,017		$	21,619,201
Less: intangible assets	947,619			950,674			953,729			956,900			960,340
Tangible assets	$	19,328,101		$	19,797,209		$	20,407,835		$	20,731,117		$	20,658,861
Tangible common equity ratio	9.87		%	9.59		%	9.20		%	8.88		%	8.59		%
Common shares issued and outstanding	95,900,847			95,906,217			95,714,777			95,021,760			95,016,767
Book value per share	$	29.78		$	29.71		$	29.58		$	29.45		$	28.79
Less: intangible book value per share	9.88			9.91			9.96			10.07			10.11
Tangible book value per share	$	19.89		$	19.79		$	19.61		$	19.38		$	18.68

27

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 and amortization of intangible assets, where applicable, to the sum of net interest income before provision for credit losses and total noninterest income, less net gain (loss) from sales of investment securities and net gain from other real estate owned. 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
	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Total noninterest expense	$	102,185		$	100,644		$	100,866
Less: amortization of intangible assets	3,055			3,055			3,472
Less: other real estate owned operations, net	(4)			8			—
Noninterest expense, adjusted	$	99,134		$	97,581		$	97,394
Net interest income before provision for credit losses	$	149,548		$	160,092		$	181,112
Add: total noninterest income	18,551			20,539			20,164
Less: net loss from sales of investment securities	—			—			(393)
Less: net gain from other real estate owned	—			106			—
Revenue, adjusted	$	168,099		$	180,525		$	201,669
Efficiency ratio	59.0		%	54.1		%	48.3		%

Cost of non-maturity deposits is a non-GAAP financial measure derived from GAAP-based amounts. Cost of non-maturity deposits is calculated as the ratio of non-maturity deposit interest expense to average non-maturity deposits. We calculate non-maturity deposit interest expense by excluding interest expense for all certificates of deposit from total deposit expense, and we calculate average non-maturity deposits by excluding all certificates of deposit from total deposits. Management believes cost of non-maturity deposits is a useful measure to assess the Company's deposit base, including its potential volatility.
	Three Months Ended
	September 30,			June 30,			September 30,
(Dollars in thousands)	2023			2023			2022
Total deposits interest expense	$	62,718		$	53,580		$	9,873
Less: certificates of deposit interest expense	13,398			10,306			1,420
Less: brokered certificates of deposit interest expense	19,174			18,869			3,827
Non-maturity deposit expense	$	30,146		$	24,405		$	4,626
Total average deposits	$	16,543,917		$	16,876,251		$	17,732,822
Less: average certificates of deposit	1,439,531			1,286,160			835,645
Less: average brokered certificates of deposit	1,611,726			1,767,970			702,785
Average non-maturity deposits	$	13,492,660		$	13,822,121		$	16,194,392
Cost of non-maturity deposits	0.89		%	0.71		%	0.11		%

28

EX-99.2

Investor Presentation Third Quarter 2023 October 24, 2023 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 Steve Gardner Chairman, Chief Executive Officer, & President sgardner@ppbi.com 949-864-8000

2© 2023 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, capital management, 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. These 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; recent adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; the effects of, and changes in, our ability to attract and retain deposits and access to other sources of liquidity; trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; interest rate, liquidity, economic, market, credit, operational and inflation/deflation risks associated with our business, including the speed and predictability of changes in these risks; 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; compliance risks, including the costs of monitoring, testing, and maintaining compliance with complex laws and regulations; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; risks and uncertainties related to our adoption of the SOFR family of interest rates to replace LIBOR; 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; possible credit related impairments of securities held by us; possible impairment charges to goodwill, including any impairment that may result from increasing volatility in our stock price; the impact of governmental efforts to restructure the U.S. financial regulatory system, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; recent or future changes in the FDIC insurance assessment rate; 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; the possibility that we may reduce or discontinue the payments of dividends on our common stock; the possibility that we may discontinue, reduce or limit repurchases of 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, including the war between Russia and Ukraine, the war in the Middle East, 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; climate change, including regulatory, compliance and credit and reputational risks; cybersecurity threats and incidents, and related potential costs and risks, including reputation, financial and litigation risks, natural disasters, earthquakes, fires and severe weather; 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 2022 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© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PRESENTATION CONTENTS Corporate Overview 4 Third Quarter Performance Highlights 6 Balance Sheet Highlights 9 Asset Quality & Credit Risk Management 16 Loan Metrics 21 Strategy and Technology 27 Culture and Governance 30 Appendix: Non-GAAP Reconciliation 35

PPBI Corporate Overview

5© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Balance Sheet and Capital Ratios(2) Profitability and Credit Quality(2) Assets $20.3 billion ROAA 0.88% Loans HFI(4) $13.3 billion PPNR ROAA(3) 1.27% TCE / TA(3) 9.87% Efficiency Ratio(3) 59.0% Tier 1 Capital Ratio 14.87% NPA / Assets 0.13% Total Capital Ratio 17.74% ACL / Loans 1.42% Premier commercial bank in key metropolitan areas throughout the Western U.S. 1. Market data as of October 23, 2023 2. As of September 30, 2023 or for the three months ended September 30, 2023 3. Please refer to non-U.S. GAAP reconciliation in the appendix 4. Excludes the basis adjustment associated with the application of hedge accounting on certain loans 3Q23 Financial Highlights PACIFIC PREMIER BANCORP, INC. Corporate Overview & Market Data Branch Network 58 Full Service Branch Locations Market Capitalization(1) $2.0 Billion Dividend Yield(1) 6.45% P/TBV(1) 1.03x Pacific Premier Footprint 9 1 Arizona Phoenix (1) Tucson (2) 3 Nevada Las Vegas (1) 1 Southern California Los Angeles-Orange (21) San Diego (5) Riverside-San Bernardino (9) 35 Central Coast California San Luis Obispo (7) Santa Barbara (2) 9 Pacific Northwest Seattle MSA (8) Other Washington (1) Portland MSA (1)

Third Quarter Performance Highlights

7© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Q3 2023 RESULTS 1. Please refer to non-U.S. GAAP reconciliation in the appendix 2. Includes federally-insured deposits, $596 million of collateralized municipal deposits, and $70 million of privately insured deposits 3. Excludes the basis adjustment associated with the application of hedge accounting on certain loans 4. Including fair value net discount on acquired loans 5. Based on approved borrowing capacity as of October 20, 2023 Operating Results • Net income of $46.0 million, or $0.48 per diluted share • ROAA of 0.88% and ROATCE of 10.1%(1) • Pre-provision net revenue (“PPNR”) of $65.9 million and PPNR ROAA of 1.27%(1) • Net interest margin of 3.12% in Q3 2023 • Efficiency ratio of 59.0%(1) and noninterest expense of $102.2 million Loans • Loan portfolio of $13.3 billion(3) • 3Q 2023 loan yields of 5.21% • Loan / deposit ratio of 82.9%, compared to 82.3% in Q2 2023 • Quarterly loan production of $67.8 million Deposits • Total deposits equaled $16.0 billion • Non-maturity deposits of $13.3 billion, 82.8% of total deposits, cost of non-maturity deposits of 0.89%(1) • Non-interest bearing deposits represent 36.1% of total deposits • 3Q 2023 insured and collateralized deposits(2) comprised 66% of total deposits Capital & Liquidity • Declared quarterly dividend of $0.33 per share • Tangible common equity to tangible assets increased to 9.87%(1) • Tangible book value per share increased to $19.89(1) • Cash position of $1.4 billion with $10.0 billion(5) of available borrowing capacity at September 30, 2023 Asset Quality • Delinquent loans were 0.08% of total loans, nonperforming assets were 0.13% of total assets • Net charge-offs of $6.8 million or 0.05% as a percentage of average total loans • One shared national credit placed on nonaccrual with $1.7 million interest reversed and $3.2 million charge-off • ACL for LHFI of $188.1 million, or 1.42% of loans; total loss absorption capacity equals 1.76% of loans(4)

8© 2023 Pacific Premier Bancorp, Inc. | All rights reserved STRONG CAPITAL POSITION Consolidated PPBI Capital Ratios • Higher consolidated Q3 2023 capital levels that significantly exceed well-capitalized regulatory requirements 1. Please refer to non-U.S. GAAP reconciliation in the appendix 2. Regulatory standards for “well-capitalized” threshold calculated under Basel III capital rules inclusive of the required conservation buffer Consolidated PPBI Pacific Premier Bank Leverage Ratio 11.13% 10.90% 5.00% Common Equity Tier 1 Ratio (CET1) 14.87% 14.34% 7.00% Tier 1 Ratio 14.87% 14.34% 8.50% Total Capital Ratio 17.74% 17.24% 10.50% Tangible Common Equity Ratio(1) 9.87% 9.59% N/A Leverage Ratio 12.42% 12.15% 5.00% Common Equity Tier 1 Ratio (CET1) 16.59% 15.99% 7.00% Tier 1 Ratio 16.59% 15.99% 8.50% Total Capital Ratio 17.66% 17.05% 10.50% Q3 2023 Q2 2023 Threshold (2) (2) 5.00% 7.00% 8.50% 10.50% 10.90% 14.34% 14.34% 17.24% 11.13% 14.87% 14.87% 17.74% Tier 1 Leverage Ratio CET1 Ratio Tier 1 Ratio TRBC Ratio Well-Capitalized Req. 2Q23 3Q23

PPBI Balance Sheet Highlights

10© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Total Deposits of $16.0 billion as of September 30, 2023 Relationship-based core deposits • Well-diversified and granular customer base with strong levels of non-interest bearing deposits reflects our relationship-based business model • Non-interest bearing deposits comprise 36% of total deposits • Non-maturity deposit costs of 0.89%(3) • Uninsured and uncollateralized deposits 34% of total deposits as of September 30, 2023 HIGH QUALITY DEPOSIT FRANCHISE 1. As of September 30, 2023 2. Quarterly average cost 3. Please refer to the non-U.S. GAAP information in the appendix 4. Excludes Commerce Escrow and Exchange, HOA and Pacific Premier Trust relationships Quarterly Average Cost of Total Deposits Trend Relative to Fed Funds Rate Total Average Cost of Deposits = 28% Cumulative Beta 4Q21-3Q23 Cost of non- maturity deposits: 0.89% Deposits Detail as of September 30, 2023 Average Length of Commercial and Consumer Banking Relationship(4) = 12.8 years 0.33 1.58 3.08 4.33 4.83 5.08 5.33 0.04 0.06 0.22 0.58 0.94 1.27 1.50 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Federal Funds Rate Cost of Total Deposits Balance(1) % of Total Avg. Cost of Deposits(2) Spot Cost of Deposits (dollars in thousands) Noninterest-bearing demand 5,782,305$ 36% 0.00% 0.00% Interest-bearing demand 2,598,449 16% 1.62% 1.34% Money market / savings 4,873,582 31% 1.58% 1.72% Total non-maturity deposits 13,254,336 83% 0.89% 0.96% Retail certificates of deposit 1,525,919 9% 3.69% 3.92% Wholesale/brokered certificates of deposit 1,227,192 8% 4.72% 4.58% Total maturity deposits 2,753,111 17% 4.24% 4.22% Total deposits 16,007,447$ 100% 1.50% 1.52% Non-interest Bearing Deposits, 36% Interest-bearing Non-maturity Deposits, 47% Brokered Deposits, 8% Retail CDs, 9%

11© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 1. Uninsured and uncollateralized deposits estimated as total deposits less federally-insured deposits, $596 million of collateralized municipal deposits, and $70 million of privately insured deposits 2. Also includes interest-bearing time deposits with financial institutions 3. Based on approved borrowing capacity as of October 20, 2023 STRONG LIQUIDITY POSITION Quarterly Period-end Cash Balance Trends ($ in millions)(2) Well-positioned with enhanced liquidity • Ample cash of $1.4 billion at September 30, 2023 and reduced brokered deposits by $490 million in 3Q23 • Did not access either the FRB discount window or BTFP program during 2023 • Significant secondary sources of liquidity with $10.0 billion(3) of additional available capacity • Total liquidity coverage ratio of 2.1x to uninsured and uncollateralized deposits(1)(3) Sources of Liquidity as of September 30, 2023(3) 3Q23 Liquidity / Uninsured & Uncollateralized Deposits ($ in billions)(1)(3) $ in millions As of Sept. 30, 2023 Cash and Cash Equivalents(2) $ 1,402 On Balance Sheet Liquidity 1,402 Additional Sources of Liquidity Unused FHLB Borrowing Capacity $ 4,575 Correspondent Banks 390 FRB Discount Window 3,031 FRB BTFP 1,972 Total Unused Borrowing Capacity $ 9,968 Total Liquidity $ 11,370 2.1x Coverage $741 $1,103 $1,427 $1,465 $1,402 3.4% 5.1% 6.7% 7.1% 6.9% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Cash and cash equivalents Cash / total assets $11.4 $5.5 Total Liquidity Estimated Uninsured & Uncollateralized Deposits

12© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Note: All dollars in thousands, unless noted otherwise Note: SBA loans are unguaranteed portion and represent approximately 25% of principal balance for the respective borrower WELL STRUCTURED LOAN PORTFOLIO Loans Outstanding by Type and Weighted Average Rate(1) September 30, 2023 Loan Repricing Structure(5) New Commitments and Prepay / Payoff Trends(4) - 1. As of September 30, 2023 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. Dollars in millions, Payoff & Prepayment includes prepayments, maturities and normal amortization. 5. As of September 30, 2023, and includes $1.4 billion of variable swaps on fixed rate loans, Loan balances reflect unpaid principal balance and do not include capitalized costs and fees Fixed with Variable Swap 11% Fixed 19% Adjustable 46% Variable 24% $789 $240 $117 $148 $68 $569 $481 $520 $583 $370 4.34% 4.61% 4.68% 4.73% 4.76% 3Q22 4Q22 1Q23 2Q23 3Q23 New Commitments Amort. / Payoff / Prepay Weighted Avg. Rate Balance % of Total Weighted Average Rate(1) Investor real estate secured CRE non-owner occupied 2,514,056$ 18.9 % 4.69% Multifamily 5,719,210 43.1 3.93% Construction and land 444,576 3.4 9.11% SBA secured by real estate(2) 37,754 0.3 9.19% Total investor real estate secured 8,715,596 65.7 4.44% Business real estate secured CRE owner-occupied 2,228,802 16.8 4.32% Franchise real estate secured 313,451 2.4 4.73% SBA secured by real estate(3) 53,668 0.4 8.85% Total business real estate secured 2,595,921 19.6 4.46% Commercial loans Commercial and industrial 1,588,771 12.0 6.84% Franchise non-real estate secured 335,053 2.5 4.97% SBA non-real estate secured 10,667 0.1 9.67% Total commercial 1,934,491 14.6 6.53% Retail Loans Single family residential 70,984 0.5 6.79% Consumer 1,958 0.0 6.62% Total retail loans 72,942 0.5 6.79% Total loans held for investment 13,318,950$ 100.4 % 4.76% Basis adjustment associated with fair value hedge (48,830) (0.4) Total loans held for investment 13,270,120$ 100.0 % As of September 30, 2023 Loan Resets and Maturities <1 Year 1-2 Year 2-3 Years >3 Years Total Prime 7.6% 0.1% 0.1% 0.3% 8.1% 6M SOFR 6.0% 1.8% 0.8% 4.4% 13.0% Long Tenor UST / Swap 3.4% 2.3% 2.6% 4.9% 13.2% Other Indexed Rate Loans 7.3% 1.8% 9.3% 17.3% 35.7% Total Variable Rate Loans 24.3% 6.0% 12.8% 26.9% 70.0% Fixed Rate Loans(1) 1.4% 1.4% 2.1% 25.1% 30.0% Total Loans 25.7% 7.4% 14.9% 52.0% 100.0%

13© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Commercial & Business 34% Multifamily 43% Commercial Real Estate 22% Consumer 1% 1. As of September 30, 2023 excludes the basis adjustment associated with the application of hedge accounting on certain loans 2. Commercial and business loans, distribution by North American Industry Classification (NAICS) Loans Outstanding by Type(1) Commercial & Business Loans by Industry(2) HIGH PERFORMING LOAN PORTFOLIO $13.3 Billion Diversified loan portfolio • Granular loan portfolio reflects deep and long-tenured client relationships – we lend to well-established businesses and real estate operators. • Conservative, cash-flow lender with a long history of proactive and effective credit risk management. • Commercial loans with diverse set of industries across Western U.S. CRE Loans Maturity Profile as of September 30, 2023 • CRE maturities well-distributed into future periods • Limited exposure to maturity over the next several years Accommodation and Food Services 17% Construction 11% Manufacturing 9% Other Services (except Public Administration) 8% Health Care and Social Assistance 8% Real Estate and Rental and Leasing 7% Retail Trade 6% Wholesale Trade 5% Educational Services 5% Professional, Scientific, and Technical Services 4% Public Administration 4% Finance and Insurance 4% Agriculture, Forestry, Fishing and Hunting 4% Other 8% CRE Loans Maturity Profile <1 Year 1-2 Years 2-3 Years 3-5 Years >5 Years Total Multifamily 0.3% 0.5% 0.8% 2.5% 39.0% 43.1% CRE Owner-Occupied 0.4% 0.3% 0.7% 1.5% 14.0% 16.9% CRE Non-Owner Occupied 1.2% 1.2% 1.6% 3.0% 12.0% 19.0% Total 1.9% 2.0% 3.1% 7.0% 65.0% 79.0%

14© 2023 Pacific Premier Bancorp, Inc. | All rights reserved < 1 Year 24% 1-3 Years 36% 3-5 Years 12% > 5 Years 28% SECURITIES PORTFOLIO Investment Securities as of September 30, 2023 Highly-rated securities portfolio • Investment securities totaled $3.7 billion, or 18.0% of total assets as of September 30, 2023(1) • 3Q23 AFS pre-tax unrealized loss position of $296.7 million, or $212.3 million net of tax in accumulated other comprehensive loss, at September 30, 2023 • Q3 2023 average yield of 2.70%(1) $3.7 Billion 1. For AFS and HTM securities, includes FRB Stock and FHLB stock for yields AFS Duration as of September 30, 2023 3.3 Years AFS Duration 6.0 Years Total Portfolio Duration Securities Mix as September 30, 2023 AFS 52% HTM 48% Muni Bonds 32% MBS 25% CMO 18% Treasurys 0% Agency 11% Corp & Bank Notes 14% Other 0%

15© 2023 Pacific Premier Bancorp, Inc. | All rights reserved NET INTEREST MARGIN Net Interest Margin 3Q NIM narrowed from prior quarter, as higher interest rates and remix toward higher-cost funding sources offset higher earning asset yields Loan Yields Cost of Funds and Cost of Deposits Relative to Fed Funds Rate Factors Affecting Net Interest Margin Increase Decrease (1) 1. Period-end Fed Funds Rate at each respective quarter-end 3.61% 3.61% 3.44% 3.33% 3.12% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Reported Net Interest Margin 0.22% 0.58% 0.94% 1.27% 1.50% 0.38% 0.77% 1.15% 1.45% 1.67% 3.08% 4.33% 4.83% 5.08% 5.33% -1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Cost of Deposits Cost of Funds Fed Funds Rate 4.61% 4.94% 5.10% 5.27% 5.21% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Reported Loan Yield

Asset Quality & Credit Risk Management

17© 2023 Pacific Premier Bancorp, Inc. | All rights reserved LOAN PORTFOLIO & CECL ACL for LHFI + Fair Value MarkAllowance 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 CECL model update • Reserves reflect changes in asset quality offset by change in loan balances and portfolio composition ACL for LHFI Change Attributions ($ in millions) (dollars in thousands) Balance % of Total Loans Held for Investment ACL for LHFI 188,098$ 1.42% Plus: Fair Value Mark on Acquired Loans(3) 46,198 0.35% Total ACL & Fair Value Mark(3) 234,296$ 1.76% (dollars in thousands) ACL Balance % of Segment Investor loans secured by real estate CRE non-owner occupied 31,583$ 1.26% Multifamily 55,221 0.97% Construction and land 8,506 1.91% SBA secured by real estate(1) 2,199 5.82% Business loans secured by real estate CRE owner-occupied 29,086 1.31% Franchise real estate secured 7,566 2.41% SBA secured by real estate(2) 4,562 8.50% Commercial loans Commercial and industrial 32,497 2.05% Franchise non-real estate secured 15,779 4.71% SBA non-real estate secured 472 4.42% Retail loans Single family residential 491 0.69% Consumer loans 136 6.95% ACL for Loans HFI 188,098$ 1.42% September 30, 2023

18© 2023 Pacific Premier Bancorp, Inc. | All rights reserved ASSET QUALITY TRENDS Nonperforming Assets (% of Total Assets) Past Due Loans (% of LHFI) Classified Loans (% of Total Loans) Net Charge-offs (% of Average Loans) Asset quality remains strong reflecting disciplined credit risk management Note: Dollars in millions $60.5 $30.9 $30.4 $17.4 $25.9 0.28% 0.14% 0.14% 0.08% 0.13% 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 Nonperforming Assets ($ in millions) NPAs / Assets $41.3 $43.3 $20.8 $31.0 $10.9 0.28% 0.30% 0.15% 0.23% 0.08% 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 Past Due Loans ($ in millions) PD Loans / Loans HFI $1.1 $3.8 $3.3 $3.7 $6.8 0.01% 0.03% 0.02% 0.03% 0.05% 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 Net Charge-offs (Recoveries) ($ in millions) NCOs / Avg Loans $110.1 $149.3 $161.1 $119.9 $149.3 0.74% 1.02% 1.14% 0.88% 1.12% 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 Classified Loans ($ in millions) Classified Loans / Loans HFI

19© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 0.13% 4.21% - 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 PPBI Peer Median PDNB Failed- Bank Acquisition 4/27/12 CREDIT RISK MANAGEMENT Credit quality has historically outperformed peers throughout varying cycles Nonperforming Assets to Total Assets Comparison CNB Failed- Bank Acquisition 2/11/11 Note: Peer group consists of Western region banks and thrifts with total assets between $5 billion and $68 billion as of June 30, 2023

20© 2023 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) Decreased Managed Growth Grandpoint Acquisition Experience in managing CRE loans through multiple cycles • 66% of loans included in CRE concentration at September 30, 2023 are multifamily loans with historically strong performance • CRE concentrations are well-managed across the organization and stress-tested semiannually Opus Acquisition LOW RISK CRE LOAN PORTFOLIO 627% 499% 415% 372% 310% 349% 376% 275% 356% 285% 385% 327% 0% 100% 200% 300% 400% 500% 600% 700% 800% Construction CRE NOO Multifamily CRE Concentration Ratio

Selected Loan Metrics Third Quarter 2023

22© 2023 Pacific Premier Bancorp, Inc. | All rights reserved INVESTOR REAL ESTATE SECURED: MULTIFAMILY • Disciplined underwriting focuses on true cash flow, using the lesser of actual or market rents and market vacancy, not projections or positive market trends • Majority of loans are personally guaranteed by principals or by entities with significant net worth and liquidity • Portfolio is well diversified across geographies and project types • Loans to seasoned owners of multifamily properties with extensive operating experience • Limited non-recourse lending reflects seasoned stabilized properties with modest leverage and strong operating results • Core competency for PPBI, an asset class which performed well for the bank during the Great Recession of 2008 Portfolio Characteristics – Multifamily Loan Balance Outstanding $5.7 billion Number of Loans 2,390 Average Loan Size $2.4 million Loan-to-Value (Weighted Average) 58% DSCR (Weighted Average)* 1.67x Seasoning (Weighted Average) 39 months Portfolio Fundamentals *DSCR is computed using the most recent NOI provided and annualized current payment amount By # of Units By Geography(1) 1. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. By # of Units By Geography(1) 10 or fewer units 20% 11-25 units 28% 26-50 units 19% 51-100 units 19% 101+ units 14% Los Angeles 38% Orange County 4% Riverside 2% San Bernardino 2% San Diego 6% San Luis Obispo 1% Santa Barbara 1% Ventura 1% Other CA 13% AZ 8% NV 3% WA 12% Other States 9%

23© 2023 Pacific Premier Bancorp, Inc. | All rights reserved INVESTOR REAL ESTATE SECURED: CRE NON-OWNER OCCUPIED • Disciplined underwriting standards emphasize actual cash flow coverage of debt service and strong collateral support • Disciplined underwriting uses the lesser of actual or market rents and market vacancy, not projections or proformas • Majority of loans are personally guaranteed by principals or by entities with significant net worth and liquidity • Portfolio is well-diversified across geographies and property types • Seasoned owners and managers of income properties • 80% of loans are to borrowers who maintain a deposit relationship • Core competency for PPBI, an asset class which performed well for the bank during the Great Recession of 2008 Portfolio Characteristics – CRE Non-Owner Occupied Loan Balance Outstanding(1) $2.5 billion Number of Loans 1,274 Average Loan Size $2.0 million Loan-to-Value (Weighted Average) 49% DSCR (Weighted Average)(2) 1.89x Seasoning (Weighted Average) 56 months 1. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1)Excludes SBA loans (2)DSCR is computed using the most recent NOI provided and annualized current payment amount By Property Type By Geography(1) Hotel and Motel 12% Industrial 13% Office 26% Retail 33% Other 16% Los Angeles 26% Orange County 14% Riverside 5% San Bernardino 3% San Diego 7% San Luis Obispo 7% Santa Barbara 3% Ventura 1% Other CA 9% AZ 7% NV 6% WA 4% Other States 8%

24© 2023 Pacific Premier Bancorp, Inc. | All rights reserved INVESTOR REAL ESTATE SECURED: CRE NOO RETAIL AND OFFICE • Disciplined underwriting uses the lesser of actual or market rents and market vacancy, while considering tenant profile, lease expirations, rollover risk and capital costs • Portfolios are well diversified across geographies and property types Retail • PPBI lends on seasoned Class B and C strip and neighborhood centers in well established higher density markets • No exposure to malls and minimal exposure to big-box retailers Office • PPBI lends on seasoned Class B and C properties located near job centers, emphasis on suburban metro markets • Minimal exposure to Class A high-rise projects or to central business districts Portfolio Characteristics – Retail and Office CRE NOO 1. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1)Excludes SBA and Franchise loans (2)DSCR is computed using the most recent NOI provided and annualized current payment amount Office: By Geography(1) Retail: By Geography(1) Los Angeles 29% Orange County 14% Riverside 5% San Bernardino 2% San Diego 5% San Luis Obispo 5% Santa Barbara 2% Ventura 1% Other CA 10% AZ 8% NV 9% WA 2% Other States 8% Retail Office Loan Balance Outstanding(1) $835.2 million $653.2 million Number of Loans 364 244 Average Loan Size $2.3 million $2.7 million Loan-to-Value (Weighted Average) 49% 53% DSCR (Weighted Average)(2) 1.66x 1.56x Los Angeles 25% Orange County 20% Riverside 4% San Bernardino 1% San Diego 7% San Luis Obispo 9% Santa Barbara 3% Ventura 1% Other CA 2% AZ 8% NV 3% WA 6% Other States 11%

25© 2023 Pacific Premier Bancorp, Inc. | All rights reserved COMMERCIAL AND INDUSTRIAL • Commercial & Industrial loans focused on small and middle market businesses • Portfolio is well diversified by industry and geography • 88% of borrowers have a deposit relationship • Repayment based on operating cash flows of the business • Disciplined underwriting based on actual results, not projections Portfolio Characteristics – Commercial and Industrial Loan Balance Outstanding (1) $1.6 billion Number of Loans 4,601 Average Loan Size $345,000 Number of Relationships 3,271 Average Relationship Size (2) $1 million 1 Distribution by North American Industry Classification System (NAICS) 2. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. C&I Portfolio Fundamentals (1) Excludes SBA and Franchise loans (2) Based on commitment By Geography(2) By Industry(1) Real Estate 9% Public Administration 11% Manufacturing 11% Construction 22% Health Care 4% Financial Services 9%Information 3% Other Services 8% Wholesale Trade 3% Professional Services 5% Agriculture 3% Accommodation and Food Services 1% Educational Services 2% Transport and Warehouse 2% Retail Trade 2% Entertainment 2% Administrative 3% Los Angeles 27% Orange County 13%Riverside 10% San Bernardino 4% San Diego 8% San Luis Obispo 4% Santa Barbara 2% Ventura 2% Other CA 10% AZ 4% NV 1% WA 4% Other States 11% • Portfolio is well diversified by industry and geography • Legacy line of business acquired from Opus with 16 relationships at September 30, 2023 • 22 Loans totaling $201 million in outstanding balances, or 1.5% of total loans at Sept. 30, 2023 Shared National Credit Portfolio

26© 2023 Pacific Premier Bancorp, Inc. | All rights reserved BUSINESS REAL ESTATE SECURED: CRE OWNER OCCUPIED • Relationship borrowers who are core banking clients of PPBI and maintain their business banking relationship with PPBI • Repayment based on operating cash flows of the business • Businesses are well established with documented, historical positive operating cash flow • Business loans secured by owner occupied commercial real estate that is utilized as part of the business operations • Disciplined underwriting based on actual business cash flows, not projections • Portfolio is well diversified by industry and geography Portfolio Characteristics – CRE Owner Occupied Loan Balance Outstanding(1) $2.2 billion Number of Loans 1,423 Average Loan Size $1.6 million Loan-to-Value (Weighted Average) 52% Seasoning (Weighted Average) 47 months 1 Distribution by North American Industry Classification System (NAICS) 2. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1) Excludes SBA and Franchise loans By Geography(2) By Industry(1) Manufacturing 11% Health Care 13% Retail Trade 9% Real Estate 6% Other Services 11% Accommodation and Food Services 6% Construction 7% Educational Services 8% Agriculture 5% Wholesale Trade 8% Professional Services 5% Entertainment 3% Financial Services 2% Transport and Warehouse 2% Administrative and Support 3% Other 1% Los Angeles 31% Orange County 10% Riverside 16% San Bernardino 9% San Diego 6% San Luis Obispo 5% Santa Barbara 5% Ventura 3% Other CA 6% AZ 3% NV 2% WA 1% Other States 3%

Strategy and Technology Overview

28© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PREMIER 360™ Total client transparency throughout the organization using proprietary Salesforce™ enabled platform ™ Client and Data Management Highly customized solution designed to enhance the client experience, maximize banking relationships, optimize business development and accelerate new client acquisition Workflow Management Automated workflows centered around the client, allowing Pacific Premier to be highly efficient and maximize resource capacity Call Center Management Using the combination of top tier call center technology and Premier 360™, provides employees the right tools to deliver best-in-class services Digital Marketing Management Marketing automation that sends electronic communications to prospective and existing clients on behalf of Pacific Premier ™

29© 2023 Pacific Premier Bancorp, Inc. | All rights reserved CLIENT ACQUISITION - PREMIER 360™ New Client Acquisition Onboarding Clients Premier360™ Reporting  Premier360™ is the central database of all potential banking clients and referral sources  Each relationship manager owns a targeted number of prospects and referral sources which they call regularly  Marketing campaigns are customized, targeted and delivered digitally to prospective clients enabling better call penetration  All client onboarding starts and finishes through Premier360™ – universal client view as every business unit has visibility of each prospective and existing client  Each potential banking relationship is customized to the current and future banking needs of the client  Clients have a dedicated relationship manager that owns the relationship  All potential client and referral source calls and appointments are tracked with activity reports in Premier360™  All business units have access to onboarding pipeline to track progress to ensure client expectations are met  All existing client calls and appointments are tracked in Premier360™ to foster stronger relationships

PPBI Culture and ESG

31© 2023 Pacific Premier Bancorp, Inc. | All rights reserved CULTURE AT PACIFIC PREMIER Our culture is defined by our Success Attributes and they are the foundation of our “one bank, one culture” approach Organizational Culture Integrity • Do the right thing, every time. • Conduct business with the highest ethical standards. • Take responsibility for your actions. Improve • Improvement is incremental. Small changes over time have a significant impact. • Mistakes happen. Learn from them and don’t repeat them. • Be responsible for your personal and professional development. Communicate • Over-communicate. • Provide timely and complete information to all stakeholders. • Collaborate to make better decisions. Achieve • Results matter. • Be open to achieving results in new ways. • A winning attitude is contagious. Urgency • Operate with a sense of urgency. • Be thoughtful, making decisions in a timely manner. • Act today, not tomorrow.

32© 2023 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 • Published annual Corporate Social Responsibility Report including SASB and TCFD metrics • Conducted first line of defense ESG awareness training • Recognized as a Civic 50 Honoree for the third consecutive year by the Orange County Business Journal • Awarded an Outstanding rating in our last two consecutive Community Reinvestment Act (CRA) exams • Boosted employee cybersecurity training and communication 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(2) Community Support 7,500 Volunteer Hours 430+ Community Partnerships Our full Board is responsible for overseeing ESG and corporate social responsibility efforts throughout our organization $76.1M in lending to small businesses and small farms 103k participants reached through financial literacy initiatives • Disclosed Scope 1 and Scope 2 greenhouse gas emissions. Evaluated relevancy of Scope 3 factors. • Established Climate-related Credit Risk Working Group and implemented enhanced climate risk procedures for credit underwriters • Sourced 38% of electricity at a key headquarter building from renewable resources • Materially reduced purchases of single-use cups, plates, and utensils in our offices 1. Management = any individual with direct reports 2. Equitable Access & Financial Inclusion and Community Support data is for the 12-month period ended December 31, 2022 Equitable Access & Financial Inclusion COMMITMENT TO ESG • Under the Board, efforts to control and mitigate ESG- related risks are being implemented consistent with the three-line of defense model • 50% of Board committees chaired by women • 45% of Independent Directors are women and/or of ethnic diversity 3 Employee HighlightsCommitment to Human Capital Commitment to Continuous Improvement • Refined Premier Inclusion program and strategy to promote initiatives related to diversity, equity and inclusion • Increased outreach efforts to better identify and attract diverse candidates • 2023 Gallup employee engagement survey surpassed average participation rates at 91%

33© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Six Independent Directors Independent Director Tenure Added Since 2019 As of 9/30/2023 2022 Rose McKinney-James Managing Principal, Energy Works LLC and McKinney-James & Associates Director, MGM Resorts International Stephanie Hsieh General Partner and Chief Strategy Officer of Noblespace and prior Executive Director, Biocom California 2021 George Pereira Prior COO and CFO, Charles Schwab Investment Management Inc. 2020 Richard Thomas Prior EVP / CFO, CVB Financial Corp. Former Partner, Deloitte 2019 Barbara Polsky Senior Advisor, Jiko Group, Inc. and prior Partner Manatt, Phelps & Phillips, LLP 10+ Years 18% 0-4 Years 55% 5-9 Years 27% 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 • The Board believes in and actively practices diversity and inclusion, with 45% of its independent directors demonstrating gender or ethnic diversity at 9/30/2023 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  Banking/Financial Services expertise  Public company oversight experience  Significant experience in governance areas such as audit, corporate governance, enterprise risk, executive compensation practices, regulatory compliance, data security, technology, climate-related risk oversight and corporate social responsibility  Special skills, expertise or background that add to and complement the Board’s range of skills  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 duties as a director Our Process in Action Average Tenure 5.5 Years BOARD REFRESHMENT & EVALUATION PROCESS 2019 Jaynie Studenmund Prior Head of Retail & Business Banking, First Interstate Bank, Great Western Bank, and Home Savings

34© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PPBI INVESTMENT THESIS  Shareholder value is our key focus – building long-term value for our owners  Our culture differentiates us and drives fundamentals for all stakeholders  Diverse Board advising on strategy, overseeing risk and ESG, and supporting long-term value creation  Financial results remain solid – strong capital ratios and core earnings  Emphasis on risk management is a key strength of our organization  We have maintained a strong credit culture in both good times and bad  Highly experienced and respected bank acquirer – 11 successful acquisitions since 2011

Appendix: Information - Non-GAAP Reconciliation

36© 2023 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. Sept. 30, Dec. 31, March 31, June 30, Sept. 30, 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022 2023 2023 2023 Total stockholders' equity 175,226$ 199,592$ 298,980$ 459,740$ 1,241,996$ 1,969,697$ 2,012,594$ 2,746,649$ 2,886,311$ 2,735,396$ 2,798,389$ 2,831,161$ 2,849,134$ 2,855,534$ Less: intangible assets 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 970,883 960,340 956,900 953,729 950,674 947,619 Tangible common equity 151,170$ 171,028$ 240,978$ 347,799$ 705,653$ 1,060,415$ 1,120,960$ 1,762,573$ 1,915,428$ 1,775,056$ 1,841,489$ 1,877,432$ 1,898,460$ 1,907,915$ Total assets 1,714,187$ 2,037,731$ 2,789,599$ 4,036,311$ 8,024,501$ 11,487,387$ 11,776,012$ 19,736,544$ 21,094,429$ 21,619,201$ 21,688,017$ 21,361,564$ 20,747,883$ 20,275,720$ Less: Intangible assets 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 970,883 960,340 956,900 953,729 950,674 947,619 Tangible assets 1,690,131$ 2,009,167$ 2,731,597$ 3,924,370$ 7,488,158$ 10,578,105$ 10,884,378$ 18,752,468$ 20,123,546$ 20,658,861$ 20,731,117$ 20,407,835$ 19,797,209$ 19,328,101$ Tangible common equity ratio 8.94% 8.51% 8.82% 8.86% 9.42% 10.02% 10.30% 9.40% 9.52% 8.59% 8.88% 9.20% 9.59% 9.87% Basic shares outstanding 16,656,279 16,903,884 21,570,746 27,798,283 46,245,050 62,480,755 59,506,057 94,483,136 94,389,543 95,016,767 95,021,760 95,714,777 95,906,217 95,900,874 Book value per share 10.52$ 11.81$ 13.86$ 16.54$ 26.86$ 31.52$ 33.82$ 29.07$ 30.58$ 28.79$ 29.45$ 29.58$ 29.71$ 29.78$ Less: intangible book value per share 1.44 1.69 2.69 4.03 11.60 14.55 14.98 10.42 10.29 10.11 10.07 9.96 9.91 9.88 Tangible book value per share 9.08$ 10.12$ 11.17$ 12.51$ 15.26$ 16.97$ 18.84$ 18.65$ 20.29$ 18.68$ 19.38$ 19.61$ 19.79$ 19.89$ As of December 31, As of

37© 2023 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. 9/30/2023 6/30/2023 9/30/2022 Net income 46,030$ 57,636$ 73,363$ Plus: amortization of intangible assets expense 3,055 3,055 3,472 Less: amortization of intangible assets expense tax adjustment 868 868 991 Net income for average tangible common equity 48,217$ 59,823$ 75,844$ Average stockholders' equity 2,861,965$ 2,843,361$ 2,775,124$ Less: average intangible assets 48,150 51,180 61,101 Less: average goodwill 901,312 901,312 901,312 Average tangible common equity 1,912,503$ 1,890,869$ 1,812,711$ Return on average equity(1) 6.43% 8.11% 10.57% Return on average tangible common equity(1) 10.08% 12.66% 16.74% Three Months Ended

38© 2023 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 investment securities, other income – security recoveries, gain/(loss) on sale from other real estate owned, and loss from debt extinguishment. 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 FY 2021 FY 2022 Q1 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Total noninterest expense 50,815$ 54,938$ 73,332$ 98,063$ 167,958$ 249,905$ 259,065$ 381,119$ 380,277$ 396,670$ 97,648$ 100,866$ 99,182$ 101,352$ 100,644$ 102,185$ Less: amortization of intangible assets expense 764 1,014 1,350 2,039 6,144 13,594 17,245 17,072 15,936 13,983 3,592 3,472 3,440 3,171 3,055 3,055 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 - - - - - 108 8 (4) Noninterest expense, adjusted 42,507$ 52,359$ 67,062$ 91,251$ 140,740$ 217,853$ 241,004$ 314,917$ 364,336$ 382,687$ 94,056$ 97,394$ 95,742$ 98,073$ 97,581$ 99,134$ Net interest income 58,444$ 73,635$ 106,299$ 153,075$ 247,502$ 392,711$ 447,301$ 574,211$ 662,374$ 697,112$ 161,839$ 181,112$ 181,396$ 168,610$ 160,092$ 149,548$ Plus: total noninterest income 8,811 13,377 14,388 19,602 31,114 31,027 35,236 71,325 107,850 88,748 25,894 20,164 20,497 21,186 20,539 18,551 Less: net gain (loss) from investment securities 1,544 1,547 290 1,797 2,737 1,399 8,571 13,882 16,906 1,710 2,134 (393) - 138 - - Less: other income - security recoveries(1) (4) (29) - (205) 1 4 2 2 10 - - - - - - - Less: net gain (loss) from other real estate owned - - - 18 46 281 52 (112) - - - - - - 106 - Less: net gain (loss) from debt extinguishment - - - - - - (612) - (180) - - - - - - - Revenue, adjusted 65,715$ 85,494$ 120,397$ 171,067$ 275,832$ 422,054$ 474,524$ 631,764$ 753,488$ 784,150$ 185,599$ 201,669$ 201,893$ 189,658$ 180,525$ 168,099$ Efficiency ratio 64.7% 61.3% 55.9% 53.6% 51.0% 51.6% 50.8% 49.8% 48.4% 48.8% 50.7% 48.3% 47.4% 51.7% 54.1% 59.0%

39© 2023 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 FY 2021 FY 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Interest income 63,800$ 81,339$ 118,356$ 166,605$ 270,005$ 448,423$ 526,107$ 630,726$ 696,739$ 768,578$ 199,025$ 217,781$ 221,343$ 225,388$ 224,062$ Interest expense 5,356 7,704 12,057 13,530 22,503 55,712 78,806 56,515 34,365 71,466 17,913 36,385 52,733 65,296 74,514 Net interest income 58,444 73,635 106,299 153,075 247,502 392,711 447,301 574,211 662,374 697,112 181,112 181,396 168,610 160,092 149,548 Noninterest income 8,811 13,377 14,388 19,602 31,114 31,027 35,236 71,325 107,850 88,748 20,164 20,497 21,186 20,539 18,551 Revenue 67,255 87,012 120,687 172,677 278,616 423,738 482,537 645,536 770,224 785,860 201,276 201,893 189,796 180,631 168,099 Noninterest expense 50,815 54,938 73,332 98,063 167,958 249,905 259,065 381,119 380,277 396,670 100,866 99,182 101,352 100,644 102,185 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$ 389,952$ 389,190$ 100,410$ 102,711$ 88,444$ 79,987$ 65,914$ Pre-provision net revenue(1) 23,366$ 33,564$ 52,154$ 79,002$ 131,660$ 192,287$ 224,128$ 313,546$ 389,952$ 389,190$ 401,640$ 410,844$ 353,776$ 319,948$ 263,656$ 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$ 20,492,402$ 21,513,428$ 21,687,436$ 21,728,933$ 21,684,873$ 21,058,006$ 20,805,787$ PPNR / average assets 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.90% 1.81% 0.46% 0.47% 0.41% 0.38% 0.32% PPNR / average assets(1) 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.90% 1.81% 1.85% 1.89% 1.63% 1.52% 1.27%

40© 2023 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Cost of non-maturity deposits is a non-GAAP financial measure derived from GAAP-based amounts. Cost of non-maturity deposits is calculated as the ratio of non- maturity deposit interest expense to average non-maturity deposits. We calculate non-maturity deposit interest expense by excluding interest expense for all certificates of deposit from total deposit expense, and we calculate average non-maturity deposits by excluding all certificates of deposit from total deposits. Management believes cost of non-maturity deposits is a useful measure to assess the Company's deposit base, including its potential volatility. Note: All dollars in thousands Q3 2023 Q2 2023 Q3 2022 Total deposits interest expense 62,718$ 53,580$ 9,873$ Less: certificates of deposit interest expense 13,398 10,306 1,420 Less: brokered certificates of deposit interest expense 19,174 18,869 3,827 Non-maturity deposit expense 30,146$ 24,405$ 4,626$ Total average deposits 16,543,917$ 16,876,251$ 17,732,822$ Less: average certificates of deposit 1,439,531 1,286,160 835,645 Less: average brokered certificates of deposits 1,611,726 1,767,970 702,785 Average non-maturity deposits 13,492,660$ 13,822,121$ 16,194,392$ Cost of non-maturity deposits 0.89% 0.71% 0.11%

XML

Cover Page Statement	Oct. 24, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 24, 2023
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