Columbia Banking System, Pacific Premier Bancorp Receive Shareholder Approval for Acquisition.

Columbia Banking System and Pacific Premier Bancorp have received shareholder and stockholder approvals for their proposed acquisition. The deal will enhance Columbia's market leadership across the Pacific Northwest. The final results of the vote will be reported in the companies' Form 8-K filings with the SEC.

Columbia Banking System, Inc. (COLB) and Pacific Premier Bancorp, Inc. (PPBI) have received shareholder and stockholder approval for the proposed acquisition, marking a significant step forward in the transaction. The approvals were announced on July 21, 2025, following special meetings held by both companies' shareholders and stockholders.

The approvals are a crucial milestone in the acquisition process, which aims to enhance Columbia's market leadership across the Pacific Northwest. According to the companies, the final results of the vote will be detailed in their respective Current Reports on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (SEC).

Clint Stein, President and CEO of Columbia, expressed his satisfaction with the overwhelming support for the acquisition, stating, "We are pleased by the overwhelming support for the proposed acquisition, which will enhance our market leadership across the West and create significant value for our customers, communities, and shareholders." Steve Gardner, Chairman, CEO, and President of Pacific Premier, also commented, "Today's vote is an important step towards uniting our two exceptional and complementary franchises. We look forward to completing the transaction as quickly as possible and leveraging the full breadth of our combined resources and capabilities to support our customers."

The completion of the transaction is subject to regulatory approvals and the satisfaction of other customary closing conditions outlined in the merger agreement. Columbia and Pacific Premier anticipate the transaction to close later in 2025, pending these requirements.

Columbia Banking System, headquartered in Tacoma, Washington, is the parent company of Columbia Bank (dba: Umpqua Bank), an award-winning western U.S. regional bank. With over $50 billion in assets, Columbia Bank offers a comprehensive suite of services, including retail and commercial banking, Small Business Administration lending, and investment and wealth management expertise. Pacific Premier Bancorp, Inc., headquartered in Irvine, California, 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.

The acquisition aims to combine the strengths of both banks, leveraging their respective resources and capabilities to provide enhanced services to their customers. The combined entity will have a significant presence in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada.

References:
[1] https://www.prnewswire.com/news-releases/columbia-banking-system-and-pacific-premier-bancorp-announce-shareholder-and-stockholder-approval-for-proposed-acquisition-302509858.html