Columbia Banking and Pacific Premier Receive Regulatory Approvals for Merger

Columbia Banking System and Pacific Premier Bancorp have received all required regulatory approvals for their all-stock transaction, which is expected to be completed on or around August 31. The transaction was announced on April 23 and has received shareholder and stockholder approvals. The acquisition will enhance Columbia's position as a market leader and deliver long-term value to customers, communities, and shareholders.

Columbia Banking System, Inc. (COLB) and Pacific Premier Bancorp, Inc. (PPBI) have received all required regulatory approvals for their previously announced all-stock merger, which is expected to close on or around August 31, 2025 [1]. The merger, first announced on April 23, 2025, has also received shareholder and stockholder approvals.

The regulatory approvals were granted by the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Oregon Department of Consumer and Business Services [2]. The merger will combine Columbia's $50 billion in assets with Pacific Premier's approximately $18 billion, strengthening Columbia's position in the western United States [1].

The merger will also result in Columbia Bank, previously known as Umpqua Bank, beginning to operate under the Columbia Bank name and brand on September 1, 2025 [1]. The companies did not disclose specific financial terms of the transaction in this announcement.

This acquisition will enhance Columbia's position as a market leader across the West and deliver long-term value to its customers, communities, and shareholders [2]. Columbia's President and CEO, Clint Stein, expressed satisfaction with the overwhelming support from shareholders and the swift and transparent approval process from regulators.

Columbia Banking System is headquartered in Tacoma, Washington, and is the parent company of Columbia Bank, an award-winning western U.S. regional bank with over $50 billion in assets [2]. Pacific Premier Bancorp, headquartered in Irvine, California, is the parent company of Pacific Premier Bank, which 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 [2].

The merger is expected to create a more robust and diversified financial institution, capable of serving a broader range of customers and expanding its service offerings. The combined entity will continue to operate under the Columbia Banking System brand, leveraging the strengths and expertise of both companies.

References:
[1] https://www.investing.com/news/company-news/columbia-banking-system-and-pacific-premier-bancorp-receive-regulatory-approvals-for-merger-93CH-4173959
[2] https://www.morningstar.com/news/pr-newswire/20250806sf45678/columbia-banking-system-and-pacific-premier-bancorp-announce-regulatory-approvals-and-anticipated-merger-closing-date