Columbia Banking System, Inc. has completed its acquisition of Pacific Premier Bancorp, Inc., uniting the two entities under the Columbia brand. This strategic move has resulted in significant growth for Columbia, with the company's assets increasing to approximately $70 billion, accompanied by a boost in loans to approximately $50 billion and deposits to $56 billion.
The acquisition has further solidified Columbia's market leadership in Northern California, Washington, Oregon, and Arizona, while accelerating its expansion in Southern California. With an eye on delivering long-term shareholder value, the company has emphasized its commitment to executing a seamless and efficient integration under the unified Columbia family of brands.
As part of the acquisition, Columbia Bank has successfully undergone a name change, effectively serving customers under its unified name and brand from September 1, 2025, completing the transition from the Umpqua Bank name. This change aims to ensure brand clarity and simplify Columbia's family of brands, which includes Columbia Wealth Management, Columbia Trust Company, Columbia Private Bank, and Columbia Wealth Advisors.
Moreover, the transaction has seen three former Pacific Premier directors join Columbia's Board of Directors, including former Pacific Premier Chairman, President, and CEO Steve Gardner, who now serves as a non-executive director. Additionally, Tom Rice, who held the role of Chief Information Officer with Pacific Premier Bank, has joined Columbia Bank's executive leadership team in the same capacity.
At the effective time of the merger on August 31, 2025, 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, with shares of Pacific Premier ceasing to trade prior to the opening of the Nasdaq Stock Market on September 2, 2025.
The combined organization is set to operate more than 350 locations across eight western states, reinforcing Columbia's position as a regional banking leader with deep local roots and broad geographic reach. Looking ahead, the company expects to integrate its systems and services in the first quarter of 2026.
Headquartered in Tacoma, Washington, Columbia Banking System, Inc. is the parent company of Columbia Bank, a regional bank with a significant presence in the Western U.S. The bank offers a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing, while also providing access to investment and wealth management expertise, healthcare, and private banking through Columbia Wealth Management. The market has reacted to these announcements by moving the company's shares -0.97% to a price of $26.51. Check out the company's full 8-K submission here.
