Pacific Premier Bancorp (PPBI) DEF 14A 10 Apr 23 Definitive proxy Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2022
Document Information [Line Items]
Document Type	DEF 14A
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	PACIFIC PREMIER BANCORP INC
Entity Central Index Key	0001028918

Pay vs Performance Disclosure

Pay vs Performance Disclosure	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Pay vs Performance Disclosure [Table]
Pay vs Performance [Table Text Block]	PAY-VERSUS-PERFORMANCE In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO NEOs and Company performance for fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the fiscal years shown. ​ Year ​ ​ Summary (1) ($) ​ ​ Compensation (1)(2)(3) ($) ​ ​ Average (1) ($) ​ ​ Average (1)(2)(3) ($) ​ ​ Value of Initial Fixed (4) ​ ​ Net Income ​ ​ Return on (5) ​ ​ TSR ​ ​ Peer ​ ​ 2022 ​ ​ ​ ​ 5,974,431 ​ ​ ​ ​ ​ 2,066,457 ​ ​ ​ ​ ​ 1,898,383 ​ ​ ​ ​ ​ 1,012,067 ​ ​ ​ ​ ​ 108.35 ​ ​ ​ ​ ​ 116.15 ​ ​ ​ ​ ​ 284 ​ ​ ​ ​ ​ 1.32 % ​ ​ ​ 2021 ​ ​ ​ ​ 7,054,109 ​ ​ ​ ​ ​ 12,243,954 ​ ​ ​ ​ ​ 2,041,650 ​ ​ ​ ​ ​ 3,439,847 ​ ​ ​ ​ ​ 132.34 ​ ​ ​ ​ ​ 124.78 ​ ​ ​ ​ ​ 340 ​ ​ ​ ​ ​ 1.66 % ​ ​ ​ 2020 ​ ​ ​ ​ 5,127,540 ​ ​ ​ ​ ​ 8,448,740 ​ ​ ​ ​ ​ 1,554,372 ​ ​ ​ ​ ​ 2,299,152 ​ ​ ​ ​ ​ 100.35 ​ ​ ​ ​ ​ 91.32 ​ ​ ​ ​ ​ 60 ​ ​ ​ ​ ​ 0.93 % ​ ​ ​ (1) Steven R. Gardner was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. ​ ​ 2020 ​ ​ 2021 ​ ​ 2022 ​ ​ Edward Wilcox ​ ​ Edward Wilcox ​ ​ Edward Wilcox ​ ​ Ronald J. Nicolas, Jr. ​ ​ Ronald J. Nicolas, Jr. ​ ​ Ronald J. Nicolas, Jr. ​ ​ Michael S. Karr ​ ​ Michael S. Karr ​ ​ Michael S. Karr ​ ​ Thomas Rice ​ ​ Thomas Rice ​ ​ Thomas Rice ​ ​ (2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. ​ (3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. ​ ​ Year ​ ​ Summary ​ ​ Exclusion of Stock ​ ​ Inclusion of Equity ​ ​ Compensation Actually ​ ​ 2022 ​ ​ ​ ​ 5,974,431 ​ ​ ​ ​ ​ (4,318,611 ) ​ ​ ​ ​ ​ 410,637 ​ ​ ​ ​ ​ 2,066,457 ​ ​ ​ 2021 ​ ​ ​ ​ 7,054,109 ​ ​ ​ ​ ​ (4,619,149 ) ​ ​ ​ ​ ​ 9,808,994 ​ ​ ​ ​ ​ 12,243,954 ​ ​ ​ 2020 ​ ​ ​ ​ 5,127,540 ​ ​ ​ ​ ​ (3,436,818 ) ​ ​ ​ ​ ​ 6,758,018 ​ ​ ​ ​ ​ 8,448,740 ​ ​ ​ Year ​ ​ Average Summary ​ ​ Average Exclusion of ​ ​ Average Inclusion of ​ ​ Average ​ ​ 2022 ​ ​ ​ ​ 1,898,383 ​ ​ ​ ​ ​ (1,154,983 ) ​ ​ ​ ​ ​ 268,667 ​ ​ ​ ​ ​ 1,012,067 ​ ​ ​ 2021 ​ ​ ​ ​ 2,041,650 ​ ​ ​ ​ ​ (1,020,483 ) ​ ​ ​ ​ ​ 2,418,680 ​ ​ ​ ​ ​ 3,439,847 ​ ​ ​ 2020 ​ ​ ​ ​ 1,554,372 ​ ​ ​ ​ ​ (778,569 ) ​ ​ ​ ​ ​ 1,523,349 ​ ​ ​ ​ ​ 2,299,152 ​ ​ The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: ​ Year ​ ​ Year-End Fair Value ​ ​ Change in Fair ​ ​ Vesting-Date Fair ​ ​ Change in Fair ​ ​ Fair Value at Last ​ ​ Value of Dividends ​ ​ Total — Inclusion of ​ ​ 2022 ​ ​ ​ ​ 3,554,430 ​ ​ ​ ​ ​ (2,996,048 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (309,054 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 161,309 ​ ​ ​ ​ ​ 410,637 ​ ​ ​ 2021 ​ ​ ​ ​ 4,846,074 ​ ​ ​ ​ ​ 3,934,106 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 861,517 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 167,297 ​ ​ ​ ​ ​ 9,808,994 ​ ​ ​ 2020 ​ ​ ​ ​ 6,299,013 ​ ​ ​ ​ ​ 540,444 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (207,224 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 125,785 ​ ​ ​ ​ ​ 6,758,018 ​ ​ ​ Year ​ ​ Average Year-End ​ ​ Average Change in ​ ​ Average Vesting- ​ ​ Average Change in ​ ​ Average Fair Value ​ ​ Average Value of ​ ​ Total — Average ​ ​ 2022 ​ ​ ​ ​ 950,614 ​ ​ ​ ​ ​ (650,621 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (75,243 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 43,917 ​ ​ ​ ​ ​ 268,667 ​ ​ ​ 2021 ​ ​ ​ ​ 1,142,669 ​ ​ ​ ​ ​ 1,016,356 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 215,581 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 44,074 ​ ​ ​ ​ ​ 2,418,680 ​ ​ ​ 2020 ​ ​ ​ ​ 1,398,963 ​ ​ ​ ​ ​ 141,348 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (50,750 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 33,788 ​ ​ ​ ​ ​ 1,523,349 ​ ​ ​ (4) The Peer Group TSR set forth in this table utilizes the KBW Nasdaq Regional Banking Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the KBW Regional Banking Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. ​ (5) We determined Return on Average Assets (ROAA) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2022. ROAA is not a recognized term under GAAP. This measure is defined and reconciled to the nearest GAAP measure in Annex A This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
Company Selected Measure Name	Return on Average Assets
Named Executive Officers, Footnote [Text Block]	(1) Steven R. Gardner was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. ​ ​ 2020 ​ ​ 2021 ​ ​ 2022 ​ ​ Edward Wilcox ​ ​ Edward Wilcox ​ ​ Edward Wilcox ​ ​ Ronald J. Nicolas, Jr. ​ ​ Ronald J. Nicolas, Jr. ​ ​ Ronald J. Nicolas, Jr. ​ ​ Michael S. Karr ​ ​ Michael S. Karr ​ ​ Michael S. Karr ​ ​ Thomas Rice ​ ​ Thomas Rice ​ ​ Thomas Rice ​
Peer Group Issuers, Footnote [Text Block]			(4) The Peer Group TSR set forth in this table utilizes the KBW Nasdaq Regional Banking Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the KBW Regional Banking Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
PEO Total Compensation Amount	$ 5,974,431	$ 7,054,109	$ 5,127,540
PEO Actually Paid Compensation Amount	$ 2,066,457	12,243,954	8,448,740
Adjustment To PEO Compensation, Footnote [Text Block]	(2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. ​ (3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. ​ ​ Year ​ ​ Summary ​ ​ Exclusion of Stock ​ ​ Inclusion of Equity ​ ​ Compensation Actually ​ ​ 2022 ​ ​ ​ ​ 5,974,431 ​ ​ ​ ​ ​ (4,318,611 ) ​ ​ ​ ​ ​ 410,637 ​ ​ ​ ​ ​ 2,066,457 ​ ​ ​ 2021 ​ ​ ​ ​ 7,054,109 ​ ​ ​ ​ ​ (4,619,149 ) ​ ​ ​ ​ ​ 9,808,994 ​ ​ ​ ​ ​ 12,243,954 ​ ​ ​ 2020 ​ ​ ​ ​ 5,127,540 ​ ​ ​ ​ ​ (3,436,818 ) ​ ​ ​ ​ ​ 6,758,018 ​ ​ ​ ​ ​ 8,448,740 ​ ​ The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: ​ Year ​ ​ Year-End Fair Value ​ ​ Change in Fair ​ ​ Vesting-Date Fair ​ ​ Change in Fair ​ ​ Fair Value at Last ​ ​ Value of Dividends ​ ​ Total — Inclusion of ​ ​ 2022 ​ ​ ​ ​ 3,554,430 ​ ​ ​ ​ ​ (2,996,048 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (309,054 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 161,309 ​ ​ ​ ​ ​ 410,637 ​ ​ ​ 2021 ​ ​ ​ ​ 4,846,074 ​ ​ ​ ​ ​ 3,934,106 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 861,517 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 167,297 ​ ​ ​ ​ ​ 9,808,994 ​ ​ ​ 2020 ​ ​ ​ ​ 6,299,013 ​ ​ ​ ​ ​ 540,444 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (207,224 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 125,785 ​ ​ ​ ​ ​ 6,758,018 ​ ​
Non-PEO NEO Average Total Compensation Amount	$ 1,898,383	2,041,650	1,554,372
Non-PEO NEO Average Compensation Actually Paid Amount	$ 1,012,067	3,439,847	2,299,152
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]	(2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. ​ (3) ​ Year ​ ​ Average Summary ​ ​ Average Exclusion of ​ ​ Average Inclusion of ​ ​ Average ​ ​ 2022 ​ ​ ​ ​ 1,898,383 ​ ​ ​ ​ ​ (1,154,983 ) ​ ​ ​ ​ ​ 268,667 ​ ​ ​ ​ ​ 1,012,067 ​ ​ ​ 2021 ​ ​ ​ ​ 2,041,650 ​ ​ ​ ​ ​ (1,020,483 ) ​ ​ ​ ​ ​ 2,418,680 ​ ​ ​ ​ ​ 3,439,847 ​ ​ ​ 2020 ​ ​ ​ ​ 1,554,372 ​ ​ ​ ​ ​ (778,569 ) ​ ​ ​ ​ ​ 1,523,349 ​ ​ ​ ​ ​ 2,299,152 ​ ​ The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: ​ Year ​ ​ Average Year-End ​ ​ Average Change in ​ ​ Average Vesting- ​ ​ Average Change in ​ ​ Average Fair Value ​ ​ Average Value of ​ ​ Total — Average ​ ​ 2022 ​ ​ ​ ​ 950,614 ​ ​ ​ ​ ​ (650,621 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (75,243 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 43,917 ​ ​ ​ ​ ​ 268,667 ​ ​ ​ 2021 ​ ​ ​ ​ 1,142,669 ​ ​ ​ ​ ​ 1,016,356 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 215,581 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 44,074 ​ ​ ​ ​ ​ 2,418,680 ​ ​ ​ 2020 ​ ​ ​ ​ 1,398,963 ​ ​ ​ ​ ​ 141,348 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (50,750 ) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 33,788 ​ ​ ​ ​ ​ 1,523,349 ​ ​
Compensation Actually Paid vs. Total Shareholder Return [Text Block]	Description of Relationship Between NEO Compensation Actually Paid and Company and Peer Group Total Shareholder Return (“TSR”) The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and the Company’s and peer group’s cumulative TSR over the fiscal three year period from 2020 through 2022.
Compensation Actually Paid vs. Net Income [Text Block]	Description of Relationship Between NEO Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our net income during fiscal 2020 through 2022.
Compensation Actually Paid vs. Company Selected Measure [Text Block]	Description of Relationship Between NEO Compensation Actually Paid and Return on Average Assets The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and ROAA during fiscal 2020-2022. ROAA is not a recognized term under GAAP. This measure is defined and reconciled to the nearest GAAP measure in Annex A .
Tabular List [Table Text Block]	Tabular List of Most Important Financial Performance Measures The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other NEOs for 2022 to Company performance. The measures in this table are not ranked. ​ Return on Average Assets ​ ​ Return on Average Tangible Common Equity ​ ​ Pre-provision Net Revenue on Average Assets ​ ​ Tangible Common Equity Ratio ​ ​ Nonperforming Assets on Total Assets ​ ​ Efficiency Ratio ​
Total Shareholder Return Amount	$ 108.35	132.34	100.35
Peer Group Total Shareholder Return Amount	116.15	124.78	91.32
Net Income (Loss)	$ 284,000,000	$ 340,000,000	$ 60,000,000
Company Selected Measure Amount	1.32	1.66	0.93
PEO Name	Steven R. Gardner
Measure [Axis]: 1
Pay vs Performance Disclosure [Table]
Measure Name	Return on Average Assets
Non-GAAP Measure Description [Text Block]			(5) We determined Return on Average Assets (ROAA) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2022. ROAA is not a recognized term under GAAP. This measure is defined and reconciled to the nearest GAAP measure in Annex A This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
Measure [Axis]: 2
Pay vs Performance Disclosure [Table]
Measure Name	Return on Average Tangible Common Equity
Measure [Axis]: 3
Pay vs Performance Disclosure [Table]
Measure Name	Pre-provision Net Revenue on Average Assets
Measure [Axis]: 4
Pay vs Performance Disclosure [Table]
Measure Name	Tangible Common Equity Ratio
Measure [Axis]: 5
Pay vs Performance Disclosure [Table]
Measure Name	Nonperforming Assets on Total Assets
Measure [Axis]: 6
Pay vs Performance Disclosure [Table]
Measure Name	Efficiency Ratio
PEO [Member] | Exclusion Of Stock Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	$ (4,318,611)	$ (4,619,149)	$ (3,436,818)
PEO [Member] | Inclusion Of Equity Values [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	410,637	9,808,994	6,758,018
PEO [Member] | Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	3,554,430	4,846,074	6,299,013
PEO [Member] | Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(2,996,048)	3,934,106	540,444
PEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(309,054)	861,517	(207,224)
PEO [Member] | Value Of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	161,309	167,297	125,785
Non-PEO NEO [Member] | Exclusion Of Stock Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(1,154,983)	(1,020,483)	(778,569)
Non-PEO NEO [Member] | Inclusion Of Equity Values [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	268,667	2,418,680	1,523,349
Non-PEO NEO [Member] | Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	950,614	1,142,669	1,398,963
Non-PEO NEO [Member] | Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(650,621)	1,016,356	141,348
Non-PEO NEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(75,243)	215,581	(50,750)
Non-PEO NEO [Member] | Value Of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	$ 43,917	$ 44,074	$ 33,788