Columbia Banking System completes Pacific Premier Bancorp acquisition.

Columbia Banking System has completed its acquisition of Pacific Premier Bancorp, expanding its presence in Southern California. The acquisition unifies the Columbia brand, and customers will see a name change. The deal accelerates Columbia's expansion, solidifying its market leadership in Northern California, Washington, Oregon, and Arizona.

Columbia Banking System, Inc. (Nasdaq: COLB) has completed its acquisition of Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), a significant move that accelerates the bank's expansion in Southern California. The acquisition, announced on September 2, 2025, unifies the Columbia brand and introduces a name change for customers [1].

The deal, which closed on August 31, 2025, marks a strategic advancement for Columbia, enhancing its market leadership in key western states, including Northern California, Washington, Oregon, and Arizona. The combined organization will operate more than 350 locations across eight western states, further solidifying Columbia's position as a regional banking leader [1].

At the transaction close, Columbia's assets increased to approximately $70 billion, with approximately $50 billion in loans and $56 billion in deposits. The company expects to integrate its systems and services in the first quarter of 2026 [1].

Effective September 1, 2025, Columbia Bank began serving customers under its unified name, completing the transition 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, including Steve Gardner, M. Christian Mitchell, and Jaynie Miller Studenmund, joined Columbia's Board of Directors. Additionally, Tom Rice joined Columbia Bank's executive leadership team as Chief Information Officer [1].

The acquisition of Pacific Premier Bancorp was structured so that each share of Pacific Premier common stock was converted into the right to receive 0.9150 of a share of Columbia common stock. Former Pacific Premier stockholders collectively represent approximately 30% of Columbia's shareholders post-closing [1].

The acquisition of Pacific Premier Bancorp underscores Columbia's commitment to expanding its market footprint and enhancing its service offerings. As the company continues to integrate Pacific Premier's operations, it aims to deliver superior value to its stakeholders, including customers, employees, and shareholders.

References:
[1] https://www.prnewswire.com/news-releases/columbia-banking-system-completes-acquisition-of-pacific-premier-bancorp-and-unifies-columbia-brand-302542727.html