Pacific Premier Bancorp, Inc.

List of possible reasons behind the infrequent cases where we have total institutional ownership that exceeds 100% of the common shares outstanding for a specific company:

Double-counting - On the 13-F filing, each institutional holder must report all securities over which they exercise sole or shared investment discretion. In cases where investment discretion is shared by more than one institution, care is generally taken to prevent double-counting, but there is always the exception. Another cause of double-counting is a company name change for the 13F filer where the holdings are accounted for under both filer names.

Short Interest - A large short interest amount affects the institutional ownership amount considerably because all shares that have been sold short appear as holdings in two separate portfolios. One institution has lent its shares to a short seller, while the same shares have been purchased by another reporting institution. Consequently, the institutional ownership percentage reflected in the 13-F filings is overstated as a percentage of total shares outstanding.

A gap between 'as of' dates - In the case where gaps between the 'as of' dates of the holdings and the shares outstanding arise, the percentage owned could be skewed due to a sharp increase/decrease in shares out. Again, this case doesn’t come up very often but the results are unavoidable.

Other possible reasons: a) An overlap occurs amongst reporting institutions; b) The 13F filing includes holdings other than common stock issues; c) Mutual fund money is co-advised and incorrectly reported by multiple institutions.

Pacific Premier Bank Promotes Sherri Scott to Senior Executive Vice President, Director of ESG and Corporate Responsibility

Company Release - 3/23/2021

IRVINE, Calif.--(BUSINESS WIRE)-- Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding company of Pacific Premier Bank (“Pacific Premier”, “the Bank”), announced today the promotion of Sherri V. Scott as Pacific Premier’s Senior Executive Vice President, Director of ESG and Corporate Responsibility. Ms. Scott joined Pacific Premier in 2013 and previously served as Executive Vice President, Head of Fair & Responsible Banking. She has over 25 years of leadership and managerial experience within financial institutions.

As Director of ESG and Corporate Responsibility, Ms. Scott will coordinate the development and execution of strategic initiatives supporting Pacific Premier’s focus on environmental, social, and governance (ESG) issues. Ms. Scott will engage with a broad range of internal and external stakeholders, including Pacific Premier’s Board of Directors, clients, consumer advocates and community leaders, to help inform and shape Pacific Premier’s ESG programs.

Steve Gardner, Chairman, President, and CEO of Pacific Premier Bancorp, Inc., said, “Sherri has been instrumental in shaping our ESG program. Her experience and insights help inform our strategic approach to various aspects of our operations and initiatives. Sherri played a key role in leading Pacific Premier to an ‘Outstanding’ CRA rating at our most recent exam, and has been responsible for overseeing our community support efforts and employee volunteer activities, particularly those that involve underserved communities in the markets we serve.”

About Pacific Premier Bancorp, Inc.

Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) is the parent company of Pacific Premier Bank, a California-based commercial bank focused on serving small, middle-market, and corporate businesses throughout the western United States in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada. Founded in 1983, Pacific Premier Bank has grown to become one of the largest banks 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 $16 billion of assets under custody and approximately 44,000 client accounts comprised of self-directed investors, financial institutions, capital syndicators, and financial advisors. Additionally, Pacific Premier Bank provides nationwide customized banking solutions to Home Owners' 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210323005388/en/

Pacific Premier Bancorp, Inc.

Steven R. Gardner
Chairman, President and Chief Executive Officer
949-864-8000

Brett Villaume
SVP, Director of Investor Relations
949-553-9042

Source: Pacific Premier Bancorp, Inc.

News Details

Ownership > 100%

Pacific Premier Bank Promotes Sherri Scott to Senior Executive Vice President, Director of ESG and Corporate Responsibility