2021 ANNUAL REPORT
The Growth
Story Continues.
Founded in 1983, Pacific Premier Bank® is headquartered in Irvine,
California, serving businesses and individuals throughout the United
States. With $21 billion in total assets,1 we’re one of the strongest-
performing and fastest-growing banks in the nation.
MORE THAN 35 YEARS OF PERFORMANCE AND RESILIENCE.
1983:
Pacific Premier Bank (Originally Life Bank)
was founded
2000:
CEO Steve Gardner and new management
team hired to transform the Bank
2002:
Officially changed name to Pacific Premier Bank
2011–12:
Acquired Canyon National Bank
Acquired Palm Desert National Bank
2013:
Acquired First Associations Bank
Acquired San Diego Trust Bank
2014:
Acquired Infinity Franchise Holdings
Acquired Independence Bank
2016:
Acquired Security California Bancorp
2017:
Acquired Heritage Oaks Bancorp
Acquired Plaza Bancorp
2018:
Acquired Grandpoint Capital, Inc.
2020:
Acquired Opus Bank.
Total assets grew to $20 billion
Our performance and resilience have helped us earn high placements
in key industry rankings.
– Ranked 3rd on Forbes’ list of America’s Best Banks (2022)2
– BauerFinancial Five Star Rating for 64 Consecutive Quarters (2022)
1 Pacific Premier Bancorp, Inc. and subsidiaries on a consolidated basis, approximate total assets as of December 31, 2021.
2 © 2022, Forbes Media LLC. Used with permission. Pacific Premier Bank is a wholly owned subsidiary of Pacific Premier Bancorp, Inc.
Table of Contents
Inside Front Cover | About, History, and Accolades
02 | Stockholder Letter
06 | Financial Overview
07 | Our Success Attributes
08 | Equitable Impact Initiative
10 | Community Support
11 | High-Impact Loans
12 | Environmental, Social, and Governance (ESG)
13 | Board of Directors
14 | Executive Leadership
16 | Products and Services
18 | Sports and Community Sponsorships
20 | Non-GAAP Reconciliations
21 | Locations
Inside Back Cover | Corporate Information
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 1
S T O C K H O L D E R L E T T E R
To Our Stockholders:
2021 marked a record year for Pacific Premier Bancorp, Inc., despite the
impact of the ongoing pandemic, supply chain disruptions, and labor
shortages. Our success over the past year reflects the effectiveness of
our diversified commercial banking model and approach to technology-
driven growth. We generated record revenue and net income for the
year by leveraging the expanded capabilities of our larger and more
diverse organization.
Net income for the full year was $340 million, or $3.58 per diluted share, while our
pre-provision net revenue, which we consider our core earnings, increased 24%
to $390 million.1 The combination of strong revenue growth and prudent expense
management also resulted in the following positive trends across key metrics:
• Total revenue increased 19% year-over-year
• Noninterest income increased 51% in 2021
• Total cost of deposits declined to 0.04% in 4Q21
• Total loans held for investment increased 8% year-over-year
• Non-maturity deposits increased 10% year-over-year
• Asset quality remained excellent, with net charge-offs representing just 0.02%
of average loans for the year
• Our efficiency ratio improved to 48.4%
Our consistently strong financial performance during the year resulted in tangible
book value per share increasing 9%, while we returned $140 million in capital to
stockholders through our quarterly cash dividend and stock repurchase program.
In short, we delivered significant value for our stockholders in 2021.
1 Pre-provision net revenue is calculated by adding to our 2021 net income of $50 million, amount attributable to income
tax ($121 million), provision recapture for credit losses ($71 million), and merger-related expenses ($5,000).
2 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
S T O C K H O L D E R L E T T E R
“ Net income for the full year was $340 million, or $3.58 per diluted
share, while our pre-provision net revenue, which we consider our
core earnings, increased 24% to $390 million.1”
Record Loan Production and Strong Inflows of Low-Cost Deposits
Our scalable technology infrastructure and disciplined approach to business
development have enhanced our ability to attract new clients and expand existing
relationships. This past year’s results included $5.7 billion in new loan commitments
and a significant increase in low-cost non-maturity deposits, which grew over
10% year-over-year and accounted for 94% of our total deposits at year-end. The
addition of larger, more sophisticated middle-market companies and strong credit
sponsors of commercial real estate projects helped make 2021 our most productive
year ever. We entered 2022 with the highest level of commercial loan commitments
in our history, and are well-positioned to take advantage of continued loan growth
opportunities going forward.
Executing on Our Technology-Driven Growth Strategy
For many years, we have prioritized investing in technology to support and drive
growth. At the center of our technology-driven growth strategy is Premier360SM,
our innovative technology platform that enhances the ability of our cross-functional
teams to collaborate and work together seamlessly to deliver superior client
services and solutions. In 2021, we introduced additional new products and features
to our suite of treasury management services designed to enhance the client
experience, leverage efficiencies, and deepen client relationships. Our new features
include, among others, a more modernized online business banking platform, new
credit card offerings, and a refined mobile banking experience. These efforts have
enabled us to expand our coverage area and the number of clients served, while
improving their experience and strengthening our relationships.
1 Pre-provision net revenue is calculated by adding to our 2021 net income of $50 million, amount attributable to income
tax ($121 million), provision recapture for credit losses ($71 million), and merger-related expenses ($5,000).
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 3
S T O C K H O L D E R L E T T E R
” Our scalable technology and
culture of continuous improvement
will continue to allow us to add
new clients and expand existing
relationships.”
Reinforcing the Pacific Premier Culture
Our five Success Attributes embody our culture: Achieve, Communicate, Improve,
Integrity, and Urgency. Over the past decade, our Success Attributes have been
key to building a high-performing institution focused on continuous improvement
throughout our organization.
Throughout 2021—a year in which we focused on organic growth—we continued to
draw upon our Success Attributes to expand our approach to Environmental, Social,
and Governance (ESG) initiatives. We continued to make meaningful investments in
our employees, clients, and communities, and we are excited to share our inaugural
Corporate Social Responsibility Report highlighting these investments and efforts,
which we released this spring.
4 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
S T O C K H O L D E R L E T T E R
” We believe we are well positioned to take advantage of compelling
acquisition opportunities that complement our disciplined approach
to organic growth.”
A Strong Foundation for Generating Profitable Growth and Enhancing Franchise Value
As we look ahead, we expect the dynamic economic environment to present both
new growth opportunities and challenges from inflation and the ongoing pandemic.
Our scalable technology and culture of continuous improvement will continue to
allow us to add new clients and expand existing relationships. We believe we are
well positioned to take advantage of compelling acquisition opportunities that
complement our disciplined approach to organic growth. We have an established
track record of successfully identifying, structuring, and integrating acquisitions that
create value for our stockholders. Our experienced management team is prepared
to leverage the infrastructure we have built to capitalize on compelling opportunities
if, and when, they arise.
We are committed to operating the Company in a balanced approach while delivering
value to stockholders in varying economic environments. Our performance over the
past year is a testament to this approach. On behalf of the Board of Directors, I
want to thank our stockholders for your continued support of our vision, strategy,
and execution.
Steven R. Gardner
Chairman, CEO, and President
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 5
F I N A N C I A L O V E R V I E W
WE DELIVERED RECORD FINANCIAL PERFORMANCE IN 2021.
During 2021, our team produced solid results as net income was a record $340 million, driven by a 19%
increase in total revenue, which totaled $770 million. The record level of total revenue and continued
improvement in our efficiency ratio was a direct result of our ability to gain scale and quickly realize
synergies through successfully executing our acquisition strategy. Throughout the year, we continued to
drive stockholder value as tangible book value per share increased 9% from 2020. Additionally, we returned
$140 million in capital to our stockholders during 2021, which included a 10% increase in our quarterly
dividend to $0.33 per share in the second quarter of 2021.
Total Revenue
($ in millions)
Efficiency Ratio1
64.7%
61.3%
+36%
CAGR
$770
$646
55.9%
53.6%
$483
$424
51.6%
51.0%
$279
50.8%
49.8%
48.4%
$173
$121
$87
$67
Tangible Book Value
per Share1 with Dividends
$3.20
$0.88
$18.84
$16.97
$1.91
$20.29
$18.65
R
G
A
1 3 % C
$15.26
$12.51
$11.17
$10.12
$9.08
2013
2014
2015
2016
2017
2018
2019
2020
2021
2013
2014
2015
2016
2017
2018
2019
2020
2021
Total Assets
($ in millions)
Capital Returned to Stockholders in 2021
($ in millions)
$140
$21,094
$19,737
R
G
A
3 7 % C
$8,025
$11,487
$11,776
$4,036
$2,790
$1,714
$2,038
$35
$31
$42
$31
2013
2014
2015
2016
2017
2018
2019
2020
2021
Q1 2021
Q2 2021
Q3 2021
Q4 2021
FY 2021
1 A reconciliation of the non-GAAP measures of tangible book value per share and efficiency ratio derived from GAAP measures are set forth in the “Non-GAAP Reconciliation” section included herein.
6 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
6 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
O U R S U C C E S S AT T R I B U T E S
THE SUCCESS ATTRIBUTES THAT GUIDE OUR BUSINESS.
Our Success Attributes speak to how we conduct business and reflect the culture we have built over the
decades. They also drive our accomplishments and guide how we operate the organization and interact with
each other. Ultimately, they help ensure we deliver at the absolute highest level for our clients, colleagues,
communities, and stockholders, making us one of the top-performing banks in the nation.
ACHIEVE
Our achievements are how we
are measured individually and
as an organization.
URGENC Y
We operate with a sense of
urgency by making decisions
today, not tomorrow. Our
clients and colleagues deserve
nothing less.
SUCCESS
ATTRIBUTES
COM MUNICATE
By communicating and
collaborating with each other,
we make better decisions.
IN TE GR ITY
We conduct business
in the right way and
take responsibility
for our actions.
IM PROVE
Having a winning attitude
means understanding
we can always do better
both personally and as an
organization.
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 7
E Q U I TA B L E I M PA C T I N I T I AT I V E
Equitable Impact Initiative
During 2021, the pandemic highlighted persistent inequities in wealth, housing, education, and health
for communities of color and other marginalized populations. To combat these ills, we launched our
Equitable Impact Initiative, a multi-year $50 million commitment to key organizations and programs
designed to reduce social and economic disparities in underserved communities.
As a result of this Initiative, the SoLa Black Impact Fund will receive a $30 million investment to
support prosperity and racial equity within Black and Brown communities. In addition, the SDS
Supportive Housing Fund will receive a $15 million investment to finance approximately 1,800 new
units of permanent supportive housing for people currently experiencing homelessness within
communities that are predominantly minority.
Other key partners for this initiative include Local Initiatives Support Corporation Los Angeles (LISC LA),
which received $150,000 to help its efforts in transforming underserved neighborhoods. In addition,
Community Capital Management will receive a $5 million contribution to its Minority CARES initiative,
which will enable it to invest in market-rate, investment-grade bonds to increase opportunity for people
of color. The California Reinvestment Coalition (CRC) Resilience Fund will also receive a $500,000 grant
over two years to help minority-owned small businesses and communities of color disproportionately
impacted by the pandemic.
Together, these and other efforts supported by our Equitable Impact Initiative are making a tangible
difference in the communities we serve.
8 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
E Q U I TA B L E I M PA C T I N I T I AT I V E
“Without Pacific Premier’s
willingness to help, our vision for
this program would never have
happened.”
LISC LA
Local Initiatives Support Corporation Los Angeles (LISC LA) is one
of 31 offices of the Local Initiatives Support Corporation, a national
nonprofit organization transforming underserved neighborhoods
into thriving communities of opportunity and choice. Pacific
Premier donated $150,000 to LISC LA in 2021 and volunteered 15
hours serving on the Advisory Committee. This allowed LISC LA to
launch a first-of-its-kind business accelerator program, the Black
Business Excellence Technical Assistance Initiative (BBET).
Tunua Thrash-Ntuk,
Executive Director, LISC LA
The BBET initiative is a 10-week program helping those in the
personal care sector, a business segment particularly hard-hit by
the pandemic.
“Many of the business owners in this space had their
livelihoods threatened and had feelings of being isolated and
without support,” according to Tunua Thrash-Ntuk, Executive
Director, LISC LA.
As part of the BBET program, these businesses have access
to 10 training modules led by industry experts in the field, as
well as weekly mentoring from a business provider, networking
opportunities, and pitch opportunities.
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 9
C O M M U N I T Y S U P P O R T
We work closely with
organizations dedicated to
improving local communities.
Driven by purpose, we continuously assess the needs of our communities through active engagement with
nonprofit organizations and other community stakeholders. During 2021, our comprehensive approach to
building strong communities continued to benefit disadvantaged individuals and communities in the areas
of affordable housing, economic development, and other community services. To learn more, we invite you
to view the Community Section in our 2021 Corporate Social Responsibility Report.
475+
Organizations Across
AZ, CA, NV, OR, & WA
$3.9 million
Charitable Grants
7,460+
Employee Volunteer Hours
10 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
H I G H - I M PA C T L O A N S
High-Impact Loans
As our partner stories below indicate, high-impact loans to community-minded organizations
have a profound impact in the areas we serve.
COMMUNITY DEVELOPMENT PARTNERS
Community Development Partners (CDP) constructs and manages affordable housing in California,
Arizona, Nevada, and Oregon. Pacific Premier actively participates with CDP in securing loans from
the Federal Home Loan Bank of San Francisco’s Affordable Housing Program (AHP). As just one
example of this partnership in 2021, CDP used a $560,000 AHP loan to develop a 57-unit project for
chronically homeless individuals in Santa Ana, California.
Pacific Premier also originated several lines of credit, including one to finance pre-development
project expenses for affordable housing construction projects in Orange County.
” As a family-run business, we value the long-term
relationship we have with Pacific Premier Bank. We’ve
grown together over the past eight years. They understand
that we are building communities, not just housing units.”
Kyle Paine
President, Community Development Partners
”My father started this business, and all my siblings actively participate
in it today. He liked working with a local bank that understood the
importance local businesses can have on their communities–and that’s
why we continue working with Pacific Premier today.”
Alex Arevalo
President, Arevalo Foods
AREVALO FOODS
Arevalo Foods is a family-owned and -operated business that has made authentic flour and
corn tortillas for more than 30 years. Its core competency is to supply the prepared frozen food
market with the tortillas necessary to make value-added products, with clientele in 24 countries
around the world. Arevalo’s relationship with Pacific Premier started with the financing of an
85,000-square-foot bakery, and our relationship continues today with a variety of products and
services. In 2021, this included a loan for capital that will enable further growth and expansion for
this local business that provides over 100 jobs.
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 11
E N V I R O N M E N TA L , S O C I A L , A N D G O V E R N A N C E ( E S G )
We’re committed to ESG.
Society faces many critical issues that require timely and responsible action from all of us. As
an action-oriented organization, our goal is to operate with a sense of thoughtful urgency on key
Environmental, Social, and Governance (ESG) issues. We work to enhance our approach to these
issues through engagement with diverse constituencies, including our clients, leaders in the
communities we serve, and our stockholders. We also closely monitor ESG initiatives and reporting
requirements, and evaluate short- and long-term goals to hold ourselves accountable. You can
find details on our ESG approach, as well as programs and initiatives, in our 2021 Corporate Social
Responsibility Report.
We continue to explore reporting metrics based on the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related
Financial Disclosures (TCFD), and the United Nations Sustainable Development Goals (SDGs).
12 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
L E A D E R S H I P
BOARD OF DIRECTORS
Our Board continues to strengthen our corporate governance practices to enhance
long-term stockholder value.
Corporate giving and responsibility are pillars of our business culture. We are honored to have received the best
available QualityScore composite rating for Governance from Institutional Shareholder Services (ISS).1
CHAIRMAN
Steven R. Gardner
Chairman, CEO, and President of
Pacific Premier Bancorp, Inc.
LEAD INDEPENDENT DIRECTOR
M. Christian Mitchell
Audit Committee Chair
Enterprise Risk Committee Member
Nominating and Governance
Committee Member
Barbara S. Polsky
Enterprise Risk Committee Chair
Compensation Committee Member
Nominating and Governance
Committee Member
Zareh H. Sarrafian
Nominating and Governance
Committee Chair
Audit Committee Member
Jaynie Miller Studenmund
Compensation Committee Chair
Enterprise Risk Committee Member
Ayad A. Fargo
Compensation Committee Member
Nominating and Governance
Committee Member
Joseph L. Garrett
Compensation Committee Member
Nominating and Governance
Committee Member
Jeffrey C. Jones
Audit Committee Member
Compensation Committee Member
Nominating and Governance
Committee Member
Rose E. McKinney-James
Independent Director2
George M. Pereira
Audit Committee Member
Enterprise Risk Committee Member
Cora M. Tellez
Compensation Committee Member
Richard C. Thomas
Audit Committee Member
Enterprise Risk Committee Member
1 Effective as of February 5, 2021.
2 Rose E. McKinney-James appointed to the Board, effective March 28, 2022.
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 13
L E A D E R S H I P
EXECUTIVE LEADERSHIP
Pacific Premier Bank
Steven R. Gardner
Chairman and Chief
Executive Officer
Edward Wilcox
President and Chief
Operating Officer
Ronald J. Nicolas, Jr.
Senior Executive
Vice President, Chief
Financial Officer
Sherri V. Scott
Senior Executive
Vice President, Director
of ESG and Corporate
Responsibility
Michael S. Karr
Senior Executive
Vice President,
Chief Risk Officer
Steve Arnold
Senior Executive
Vice President, General
Counsel & Corporate
Secretary
Daniel Borland
Senior Executive
Vice President, Head
of Real Estate & SBA
Stephen Friedman
Senior Executive
Vice President,
Regional President
Mark Gouvion
Senior Executive
Vice President, Head
of Retail Banking
Donn Jakosky
Senior Executive
Vice President, Chief
Credit Officer
Peggy Ohlhaver
Senior Executive
Vice President, Chief
Human Resources Officer
Jocelyn Pastore
Senior Executive
Vice President,
Regional President
Thomas Rice
Senior Executive
Vice President, Chief
Innovation Officer
Jamie Robinson
Senior Executive
Vice President, Head of
Commercial Banking
Lori Wright
Senior Executive
Vice President, Deputy
Chief Financial Officer
14 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
L E A D E R S H I P
Wayne Anderson
Executive Vice President,
Director of Credit Risk
Management
Michael Bridge
Executive Vice President,
Deputy Chief Credit
Officer
Christopher Chapman
Executive Vice President,
Head of CRE Construction
& Bridge Financing
Kevin Cutter
Executive Vice President,
Regional President
Daniel Denekamp
Executive Vice President,
President of Association
Banking
Peter Duncan
Executive Vice President,
Director of Corporate
Finance
Russell Ellsworth
Executive Vice President,
Head of Treasury
Management
Thomas Galindo
Executive Vice President,
Regional President
Kurt Heckers
Executive Vice President,
Chief BSA Officer
Sylvia Jaques
Executive Vice President,
Director of Loan Servicing
Joseph Kim
Executive Vice President,
Head of CRE Term
Lending Group
Rocky Laverty
Executive Vice President,
Community Relations
Officer
Ellen Lee
Executive Vice President,
Chief Compliance Officer
Michael Milik
Executive Vice President,
Group Head—Owner
User Real Estate
Robert Minsky
Executive Vice President,
Head of Escrow and
Exchange
Sabrenna Pannacciulli
Executive Vice President,
Director of TM Sales &
Specialty Banking
G. Scott Peterson
Executive Vice President,
Head of Regional Credit II
Chris Porcelli
Executive Vice President,
Head of Credit—
Real Estate & SBA
Patricia Rubio De Luca
Executive Vice President,
Deputy Chief Risk Officer
Michael Vallorosi
Executive Vice President,
President of Franchise
Lending
Tamara Wendoll
Executive Vice President,
Chief Operating Officer—
Pacific Premier Trust
Brooks Wise
Executive Vice President,
Regional President
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 15
P R O D U C T S A N D S E R V I C E S
The Support Businesses
Need to Succeed
COMMERCIAL BANKING SERVICES
FRANCHISE RESTAURANT LENDING
We offer a robust array of commercial banking and lending services,
We provide conventional financing for experienced multi-unit
including working capital lines of credit, equipment financing, foreign
operators of the nation’s leading franchised restaurant brands.
exchange, and merchant services to help businesses grow.
COMMERCIAL REAL ESTATE
We provide real estate property owners, investors, brokers, and
developers with customized lending solutions for all asset categories,
including multi-family, office, retail, self-storage, and industrial.
COMMUNITY AND HOMEOWNER
ASSOCIATION BANKING
We provide HOAs and their property management companies with
industry-leading technology and tools to improve efficiencies, reduce
risk, and scale their operations.
CONSTRUCTION
We offer construction financing to investors and developers for a
wide variety of residential and commercial projects.
PROPERTY BANKING
We offer banking solutions for commercial real estate property
owners, operators, developers, and investors to streamline the
payment collection process and enhance the reconciliation process.
SBA & USDA FINANCING
As a leader in government guaranteed loans, Pacific Premier helps
borrowers with SBA 7(a), SBA 504, and USDA B&I Guaranteed Loans.
FIDUCIARY BANKING
Our team of experienced bankers is available to assist with a
variety of fiduciary banking needs, including escrow and title,
guardianships, special needs trusts, court blocked accounts, and
attorney-client trust deposits.
16 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
P R O D U C T S A N D S E R V I C E S
SPECIALIZED LENDING SERVICES
We offer a variety of specialized financing solutions in Healthcare,
Agribusiness, and ESOP Financing, backed by years of industry-
© 2022 Pacific Premier Trust, a Division of Pacific Premier
specific lending experience.
TREASURY MANAGEMENT SERVICES
Bank | All Rights Reserved. Pacific Premier Trust, a Division of
Pacific Premier Bank, performs the duties of an independent
custodian of assets for self-directed individual and business
retirement accounts and does not provide investment
We offer a full array of customizable treasury management solutions
advice, sell investments, or offer any tax or legal advice.
to help businesses leverage technology to streamline operations,
Clients or potential clients are advised to perform their own
expand their reach, and lower transaction risks.
ESCROW AND 1031 EXCHANGE SERVICES
Commerce Escrow, a Division of Pacific Premier Bank, is a leading
choice of attorneys and real estate professionals. Their team of
experienced professionals is available to assist with a variety of escrow
and exchange services, including commercial real estate escrows and
1031 exchanges.
due diligence in choosing any investment opportunity as
well as selecting any professional to assist them with an
investment opportunity. Alternative investment products are
not insured by the FDIC; are not deposits or other obligations
of, or guaranteed by, the Bank, or any of its divisions; and
are subject to investment risks, including possible loss of
the principal amount invested. Pacific Premier Trust is not
affiliated with any financial professional, investment sponsor,
or investment, tax, or legal advisor.
SELF-DIRECTED IRAS
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK
GUARANTEE | MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL
Pacific Premier Trust, a Division of Pacific Premier Bank, is an
industry leader in the custody of alternative assets within a Self-
Directed Individual Retirement Account (SDIRA).
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 17
S P O R T S A N D C O M M U N I T Y S P O N S O R S H I P S
Partnerships Worth
Cheering About
At Pacific Premier, we proudly partner with teams in the NFL, NHL, and NCAA. Each team
invests in its local and regional communities, and our partnerships help us discover new
business and community service opportunities. We have worked together as teammates to
launch and support numerous community events.
LOS ANGELES CHARGERS
Chargers Bolts Community Crew Connects Fans with
Volunteer Opportunities
The Los Angeles Chargers and Pacific Premier Bank have teamed up to launch the
Bolts Community Crew, powered by Pacific Premier Bank—a volunteer platform aimed
at connecting Chargers fans to volunteer opportunities.
2021 Examples Include:
• Hundreds of thank-you cards from the Bolts Community Crew virtual campaign
were written and delivered to frontline workers at Hoag Hospital.
• Over 1,100 lbs. of trash was removed from the LA River and its watershed during
a virtual month-long volunteer opportunity with Friends of the LA River to mark
Earth Day 2021.
• Nearly 250,000 non-perishable food kits were packed on the National Day of Service
in partnership with the Annual 9/11 Meal Pack Day in Los Angeles.
• 170 bicycles and helmets were assembled by the Bolts Community Crew and later
given away during the holiday season to underserved students in Los Angeles.
• The Small Business Football Experience awarded small businesses with a Chargers
home game suite experience for making a positive impact on their community.
ANAHEIM DUCKS
Military Appreciation
For many years, Pacific Premier Bank has partnered
with the Anaheim Ducks to salute military personnel
in a Salute to Those Who Serve presentation at every
Ducks home game. We also teamed up as the presenting
sponsor of the Ducks Military Appreciation Night to help
honor our military. It was our privilege to continue this
tradition in 2021. Thank you to everyone who has served
our country.
18 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
S P O R T S A N D C O M M U N I T Y S P O N S O R S H I P S
PAC-12
Pacific Premier Partners with the Pac-12
Pacific Premier Bank is the Official Bank of the Pac-12 Conference.
Comprising 12 leading universities, the conference aims to develop
the next generation of student-athlete leaders. Pacific Premier also
sponsors two Pac-12 programs that help promote social justice.
As part of “Touchdowns for Equality,” Pacific Premier donated $100 to
organizations focused on social justice for every touchdown scored
by a Pac-12 football team during the 2021 season. With “Threes for
Equality,” the Bank donated $100 for every three-pointer made during
the 2021 Pac-12 men’s and women’s basketball tournaments. In all,
Pacific Premier’s contributions totaled $78,400.
CAL POLY
Advocating for Innovation at Cal Poly CIE
The Cal Poly Center for Innovation and Entrepreneurship Small
Business Development Center supports small business owners and
entrepreneurs in the Central Coast by providing high quality business
assistance. Their annual event, AngelCon, presented by Pacific
Premier Bank, offers tech-based startups the opportunity to compete
live for investment up to $150,000 from angel investors. We are proud
to support this event with an annual donation of $12,500, enabling
innovation within our communities.
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 19
N O N - G A A P R E C O N C I L I AT I O N S
Tangible Book Value per Share
For the Year Ended December 31,
(Dollars in thousands,
except per share data)
2013
2014
2015
2016
2017
2018
2019
2020
2021
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
Less: intangible assets
(24,056)
(28,564)
(58,002)
(111,941)
(536,343)
(909,282)
(891,634)
(984,076)
(970,883)
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
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
Book value per share
$10.52
$11.81
$13.86
$16.54
$26.86
$31.52
$33.82
$29.07
$30.58
Less: intangible book value per share
Tangible book value per share
(1.44)
$9.08
(1.69)
(2.69)
(4.03)
(11.60)
(14.55)
(14.98)
(10.42)
(10.29)
$10.12
$11.17
$12.51
$15.26
$16.97
$18.84
$18.65
$20.29
Efficiency Ratio
(Dollars in thousands)
2013
2014
2015
2016
2017
2018
2019
2020
2021
Total noninterest expense
$50,815
$54,938
$73,332
$98,063
$167,958
$249,905
$259,065
$381,119
$380,277
For the Year Ended December 31,
Less: amortization of intangible assets
Less: other real estate owned
operations, net
(764)
(618)
(1,014)
(1,350)
(2,039)
(6,144)
(13,594)
(17,245)
(17,072)
(15,936)
(75)
(121)
(385)
(72)
(4)
(160)
(1)
Less: merger-related expense
(6,926)
(1,490)
(4,799)
(4,388)
(21,002)
(18,454)
(656)
(49,129)
—
(5)
Noninterest expense, adjusted
$42,507
$52,359
$67,062
$91,251
$140,740
$217,853
$241,004
$314,917
$364,336
Net interest income before provision
for loan losses
$58,444
$73,635
$106,299
$153,075
$247,502
$392,711
$447,301
$574,211
$662,374
Add: total noninterest income
8,811
13,377
14,388
19,602
31,114
31,027
35,236
71,325
107,850
Less: net gain from investment securities
(1,544)
(1,547)
(290)
(1,797)
(2,737)
(1,399)
(8,571)
(13,882)
(16,906)
Less: other income—securities recoveries
Less: net (gain) loss from other real
estate owned
Less: net loss from debt extinguishment
4
—
—
29
—
—
—
—
—
205
(18)
—
(1)
(46)
—
(4)
(281)
(2)
(52)
(2)
112
(10)
—
—
612
—
180
Revenue, adjusted
Efficiency Ratio
$65,715
$85,494
$120,397
$171,067
$275,832
$422,054
$474,524
$631,764
$753,488
64.7%
61.3%
55.9%
53.6%
51.0%
51.6%
50.8%
49.8%
48.4%
20 PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT
L O C AT I O N S
OVER 60 BRANCH LOCATIONS ACROSS THE WESTERN U.S.
A R I Z O N A
Maricopa County
2575 East Camelback Road
Suite 100
Phoenix, AZ 85016
Pima County
4400 East Broadway Boulevard
Suite 112
Tucson, AZ 85711
6400 North Oracle Road
Tucson, AZ 85704
C A L I F O R N I A
Los Angeles County
192 North Canon Drive
Beverly Hills, CA 90210
2141 Rosecrans Avenue,
Suite 1100
El Segundo, CA 90245
16500 Ventura Boulevard
Suite 100
Encino, CA 91436
2100 Foothill Boulevard
Suite B
La Verne, CA 91750
110 South Fairfax Avenue
Los Angeles, CA 90036
11661 San Vicente Boulevard
Los Angeles, CA 90049
2401 West Whittier Boulevard
Suite B
Montebello, CA 90640
790 East Colorado Boulevard
Suite 150
Pasadena, CA 91101
1715 Via El Prado
Redondo Beach, CA 90277
82 Peninsula Center
Suite A
Rolling Hills Estates, CA 90274
1000 North Western Avenue
Suite 101
San Pedro, CA 90732
23600 Hawthorne Boulevard
Suite B
Torrance, CA 90505
Orange County
3748 East Coast Highway
Corona Del Mar, CA 92625
200 West Commonwealth Avenue
Fullerton, CA 92832
19011 Magnolia Street
Huntington Beach, CA 92646
17901 Von Karman Avenue
Suite 200
Irvine, CA 92614
24050 Aliso Creek Road
Suite 1A
Laguna Niguel, CA 92677
4957 Katella Avenue
Suite B
Los Alamitos, CA 90720
4667 MacArthur Boulevard
Suite 100
Newport Beach, CA 92660
1045 West Katella Avenue
Suite 100
Orange, CA 92867
17672 Yorba Linda Boulevard
Yorba Linda, CA 92886
Riverside County
102 East Sixth Street
Suite 100
Corona, CA 92879
40723 Murrieta Hot Springs Road
Murrieta, CA 92562
73-745 El Paseo
Palm Desert, CA 92260
78000 Fred Waring Drive
Suite 100
Palm Desert, CA 92211
901 East Tahquitz Canyon Way
Palm Springs, CA 92262
3403 Tenth Street
Suite 100
Riverside, CA 92501
Santa Barbara County
1035 State Street
Santa Barbara, CA 93101
1825 South Broadway
Santa Maria, CA 93454
San Bernardino County
201 East State Street
Redlands, CA 92373
306 West 2nd Street
Suite 100
San Bernardino, CA 92401
73700 Gorgonio Drive
Twentynine Palms, CA 92277
San Diego County
7690 El Camino Real
Carlsbad, CA 92009
800 West Valley Parkway
Suite 100
Escondido, CA 92025
7979 Ivanhoe Avenue
Suite 150
La Jolla, CA 92037
501 West Broadway
Suite 550
San Diego, CA 92101
325 South Santa Fe Avenue
Suite 101
Vista, CA 92083
San Luis Obispo County
1530 East Grand Avenue
Arroyo Grande, CA 93420
7480 El Camino Real
Atascadero, CA 93422
2255 Main Street
Cambria, CA 93428
898 Morro Bay Boulevard
Morro Bay, CA 93442
545 12th Street
Paso Robles, CA 93446
400 South River Road
Paso Robles, CA 93446
1144 Morro Street
San Luis Obispo, CA 93401
N E V A D A
Clark County
10777 West Twain Avenue
Suite 150
Las Vegas, NV 89135
O R E G O N
Multnomah County
525 Southwest Broadway
Portland, OR 97205
W A S H I N G T O N
Clark County
2001 Southeast Columbia
River Drive
Suite 101
Vancouver, WA 98661
King County
188 106th Avenue Northeast
Suite 200
Bellevue, WA 98004
305 Front Street North
Issaquah, WA 98027
139 Bendigo Boulevard North
North Bend, WA 98045
1401 4th Avenue
Seattle, WA 98101
Skagit County
528 East College Way
Mount Vernon, WA 98273
Snohomish County
437 5th Avenue South
Suite 101
Edmonds, WA 98020
10524 19th Avenue Southeast
Everett, WA 98208
2901 Rucker Avenue
Everett, WA 98201
19520 Highway 99
Suite 102
Lynnwood, WA 98036
815 State Avenue
Marysville, WA 98270
1101 Avenue D
Building B
Snohomish, WA 98290
PACIFIC PREMIER BANCORP, INC. | 2021 ANNUAL REPORT 21
C O R P O R AT E I N F O R M AT I O N
Corporate Headquarters
17901 Von Karman Avenue, Suite 1200
Irvine, CA 92614
888.388.5433
www.ppbi.com
IRinfo@ppbi.com | NASDAQ: PPBI
Transfer Agent
American Stock Transfer & Trust Co.
6201 15th Avenue
Brooklyn, NY 11219
800.937.5449
www.astfinancial.com
PACIFIC PREMIER BANCORP, INC.
17901 VON KARMAN AVENUE
SUITE 1200
IRVINE, CA 92614
888.388.5433 | PPBI.COM