Columbia Bank Acquires Pacific Premier, Expands Southern California Presence

Columbia Banking System has completed its acquisition of Pacific Premier Bancorp, expanding its presence in Southern California by over a decade. The deal solidifies Columbia's position as a leading western US-based financial institution and advances its strategic expansion in Northern California, Washington, Oregon, and Arizona. The acquisition introduces a new brand and name change to customers, further strengthening Columbia's market leadership.

Columbia Banking System, Inc. (Nasdaq: COLB) has completed its acquisition of Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), marking a significant milestone in its strategic expansion across the western United States. The acquisition, finalized on August 31, 2025, accelerates Columbia's presence in Southern California by over a decade and reinforces its market leadership in Northern California, Washington, Oregon, and Arizona [1].

At the close of the transaction, Columbia's assets increased to approximately $70 billion, with $50 billion in loans and $56 billion in deposits. The combined entity will operate more than 350 locations across eight western states—Washington, Oregon, California, Arizona, Colorado, Nevada, Utah, and Idaho. This expansion positions Columbia as a formidable regional banking competitor with enhanced scale and geographic diversification [1].

The acquisition also brings a new brand and name change to Columbia Bank's customers. Effective September 1, 2025, Columbia Bank began serving customers under its unified name and brand, transitioning from the Umpqua Bank name. This change aims to simplify the Columbia family of brands, which also includes Columbia Wealth Management, Columbia Trust Company, Columbia Private Bank, and Columbia Wealth Advisors [1].

Three former Pacific Premier directors joined Columbia's Board of Directors upon completion of the transaction. Steve Gardner, former Pacific Premier Chairman, President, and CEO, joined as a non-executive director, along with M. Christian Mitchell and Jaynie Miller Studenmund as independent directors. Additionally, Tom Rice joined Columbia Bank's executive leadership team as Chief Information Officer [1].

The transaction involved a 0.9150 share exchange ratio, with Pacific Premier stockholders now representing approximately 30% of Columbia's shareholders post-closing. Systems integration is expected to complete in the first quarter of 2026 [1].

References:

[1] https://www.marketscreener.com/news/columbia-banking-system-completes-acquisition-of-pacific-premier-bancorp-and-unifies-columbia-brand-ce7c50d3df80f320
[2] https://www.stocktitan.net/news/COLB/columbia-banking-system-completes-acquisition-of-pacific-premier-5z4k31pqygp8.html