Columbia Banking System Acquires Pacific Premier Bancorp.

Columbia Banking System and Pacific Premier Bancorp have received regulatory approvals for their all-stock transaction, which was announced in April 2025. The deal, expected to close on or around August 31, 2025, has received approval from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Oregon Department of Consumer and Business Services. The acquisition will combine Columbia Bank and Pacific Premier Bank.

Columbia Banking System, Inc. (COLB) and Pacific Premier Bancorp, Inc. (PPBI) have received all necessary regulatory approvals for their previously announced all-stock transaction. The acquisition, which was announced on April 23, 2025, is expected to close on or around August 31, 2025, pending the satisfaction or waiver of remaining customary closing conditions [1].

The regulatory approvals were granted by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Oregon Department of Consumer and Business Services. Additionally, all required shareholder and stockholder approvals were received on July 21, 2025 [1].

Columbia Banking System, Inc. is headquartered in Tacoma, Washington and is the parent company of Columbia Bank (dba: Umpqua Bank), an award-winning western U.S. regional bank. Columbia Bank has over $50 billion in assets and operates in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. Pacific Premier Bancorp, Inc. is the parent company of Pacific Premier Bank, National Association, a nationally chartered commercial bank focused on serving small, middle-market, and corporate businesses throughout the western United States. 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 $18 billion in total assets [1].

Clint Stein, President and CEO of Columbia, expressed his satisfaction with the approvals and the support from shareholders. "We are pleased with the overwhelming support from our shareholders and the swift and transparent approval process from our regulators," said Stein. "This acquisition reinforces our position as a market leader across the West and enhances our ability to deliver long-term value to our customers, communities, and shareholders" [1].

The acquisition will combine the resources, sophistication, and expertise of Columbia Bank with the customer base and services of Pacific Premier Bank, potentially creating a more robust and diversified financial institution. The combined entity will offer a wider range of banking products and services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, equipment leasing, investment and wealth management, healthcare, and private banking [1].

The transaction is subject to certain risks and uncertainties, including changes in general economic, political, or industry conditions, regulatory changes, and the ability to successfully integrate the two companies. However, the companies have already made progress in planning for a seamless integration and are excited to welcome Pacific Premier's customers and associates to Columbia upon the closing of the transaction [1].

References:
[1] https://www.marketscreener.com/news/columbia-banking-system-and-pacific-premier-bancorp-announce-regulatory-approvals-and-anticipated-me-ce7c5eded98bf021