Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2024

Condensed financial statements of the Corporation are as follows:


PACIFIC PREMIER BANCORP, INC.
STATEMENTS OF FINANCIAL CONDITION
(Parent company only)
	At December 31,
(Dollars in thousands)	2024		2023
Assets
Cash and cash equivalents	$	82,098	$	72,696
Investment in subsidiaries	3,144,890		3,145,886
Other assets	3,183		5,180
Total assets	$	3,230,171	$	3,223,762
Liabilities

Subordinated debentures	$	272,449	$	331,842
Accrued expenses and other liabilities	1,979		9,339
Total liabilities	274,428		341,181
Total stockholders’ equity	2,955,743		2,882,581
Total liabilities and stockholders’ equity	$	3,230,171	$	3,223,762


PACIFIC PREMIER BANCORP, INC.
STATEMENTS OF OPERATIONS
(Parent company only)
	For the Year Ended December 31,
(Dollars in thousands)	2024		2023		2022
Income
Dividend income from the Bank	$	219,108	$	199,653	$	131,160
Interest income	113		93		7
Noninterest income	52		—		—
Total income	219,273		199,746		131,167
Expense
Interest expense	19,546		18,244		18,242
Compensation and benefits	3,780		3,934		5,198
Other noninterest expense	4,217		3,785		3,881
Total expense	27,543		25,963		27,321
Income before income tax provision	191,730		173,783		103,846
Income tax benefit	(7,763)		(7,240)		(7,793)
Income before undistributed income of subsidiary	199,493		181,023		111,639
Equity in undistributed (losses) earnings of subsidiary	(40,691)		(150,171)		172,104
Net income	$	158,802	$	30,852	$	283,743


PACIFIC PREMIER BANCORP, INC.
SUMMARY STATEMENTS OF CASH FLOWS
(Parent company only)
	For the Year Ended December 31,
(Dollars in thousands)	2024		2023		2022
Cash flows from operating activities:
Net income	$	158,802	$	30,852	$	283,743
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	21,717		19,390		18,925
Equity in undistributed losses (earnings) of subsidiary	40,691		150,171		(172,104)

Deferred income tax expense (benefit)	4,684		(3,583)		230
Net change in accrued expenses and other liabilities	(6,753)		2,331		2,985
Net change in accrued interest receivable and other assets	(18,563)		(12,505)		(2,345)
Net cash provided by operating activities	200,578		186,656		131,434
Cash flows from investing activities:


Net cash provided by investing activities	—		—		—
Cash flows from financing activities:
Net change in short-term borrowings	—		—		(8,000)
Repayment of subordinated debentures	(60,000)		—		—

Cash dividends paid	(127,108)		(126,265)		(125,160)

Proceeds from exercise of stock options	908		966		873
Restricted stock surrendered and canceled	(4,976)		(6,373)		(8,918)
Net cash used in financing activities	(191,176)		(131,672)		(141,205)
Net change in cash and cash equivalents	9,402		54,984		(9,771)
Cash and cash equivalents, beginning of year	72,696		17,712		27,483
Cash and cash equivalents, end of year	$	82,098	$	72,696	$	17,712