Columbia Banking System Receives Regulatory Approval for Merger with Pacific Premier Bancorp.

Columbia Banking System has received regulatory approvals for its merger with Pacific Premier Bancorp. The merger is expected to close by August 31, 2025, enhancing Columbia's market position in the western US. The deal promises long-term value for stakeholders. Analysts rate COLB as a Buy with a $35 price target.

Columbia Banking System, Inc. (Nasdaq: COLB) and Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) have received the necessary regulatory approvals for their merger, paving the way for the acquisition to close by August 31, 2025. The merger, first announced on April 23, 2025, has been approved by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Oregon Department of Consumer and Business Services, Division of Financial Regulation [1].

The transaction, which is an all-stock deal, aims to enhance Columbia's market position in the western United States. Columbia, headquartered in Tacoma, Washington, is the parent company of Columbia Bank, which operates in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. Pacific Premier Bancorp, headquartered in Irvine, California, is the parent company of Pacific Premier Bank, National Association, which serves small, middle-market, and corporate businesses in major metropolitan markets in California, Washington, Oregon, Arizona, and Nevada [1].

The merger is expected to deliver long-term value to stakeholders, including customers, communities, and shareholders. Columbia's President and CEO, Clint Stein, expressed satisfaction with the overwhelming support from shareholders and the swift approval process from regulators. The integration of Pacific Premier's customers and associates is anticipated to be seamless, with both companies focusing on a smooth transition [1].

Analysts have rated COLB as a Buy with a $35 price target, reflecting optimism about the potential synergies and growth opportunities arising from the merger [1]. The deal is subject to customary closing conditions and the satisfaction or waiver of remaining conditions outlined in the merger agreement. Both companies have already received all required shareholder and stockholder approvals [1].

The merger is expected to create a more robust financial institution with a combined asset base of over $68 billion, serving a diverse range of customers and markets. The integration of Pacific Premier's expertise in serving small and middle-market businesses will complement Columbia's strengths in providing comprehensive financial services to consumers and businesses [1].

The completion of this merger is a significant milestone for both companies, marking a strategic move to strengthen their market positions and deliver enhanced value to their respective stakeholders.

References:
[1] https://www.prnewswire.com/news-releases/columbia-banking-system-and-pacific-premier-bancorp-announce-regulatory-approvals-and-anticipated-merger-closing-date-302523312.html