#USA #Tacoma #Banking Merger #Columbia Bank #Pacific Premier

Columbia Banking System Completes Acquisition of Pacific Premier Bancorp

On September 2, 2025, Columbia Banking System, Inc. announced the successful completion of its acquisition of Pacific Premier Bancorp, Inc., a move that propels Columbia's expansion in Southern California and enhances its market presence across the Western United States. This strategic integration is set to redefine Columbia's footprint, solidifying its status as a leading financial institution in this region.

Accelerated Expansion and Unified Brand

Prior to this acquisition, Columbia Bank had already established a robust presence in multiple states, including Washington, Oregon, Arizona, Colorado, Nevada, Utah, and Idaho. The merger with Pacific Premier accelerates Columbia's growth trajectory by over a decade in Southern California, ensuring that the company capitalizes on lucrative market opportunities while enhancing service delivery across its network.

Clint Stein, President and CEO of Columbia, remarked, "Today marks an exciting milestone for our company. Columbia's acquisition of Pacific Premier significantly accelerates our expansion in key western markets and unites two exceptional and complementary banks focused on delivering superior value to all our stakeholders. We are thrilled to welcome Pacific Premier associates, customers, and communities to our company."

The combined assets post-acquisition are estimated at approximately $70 billion, with nearly $50 billion in loans and $56 billion in deposits. With more than 350 branches now operational across eight states, the merger reinforces Columbia's position as a prominent regional banking leader.

Transition to a Unified Brand Identity

Columbia Bank officially transitioned to its unified identity on September 1, 2025, abandoning its previous name, Umpqua Bank. This change aims to create better brand clarity for customers and unite multiple banking services under the Columbia brand umbrella, which includes Columbia Wealth Management and Columbia Private Bank, among others.

Strategic Appointments and Integration Plan

As part of the merger, key leadership roles have been filled to ensure a smooth transition. Steve Gardner, the former Chairman, President, and CEO of Pacific Premier, has joined Columbia's Board of Directors as a non-executive director. M. Christian Mitchell and Jaynie Miller Studenmund, both former directors at Pacific Premier, also joined Columbia's Board as independent directors. Furthermore, Tom Rice has been appointed as Chief Information Officer, replacing his counterpart from Pacific Premier Bank.

The integration of systems and services from both banks is expected to be completed in the first quarter of 2026. With this, Columbia Bank intends to enhance operational efficiency and continue delivering exceptional banking services to its expanded customer base.

Closing Details of the Acquisition

The merger officially closed on August 31, 2025. Following this, shares of Pacific Premier common stock were converted to Columbia common stock, marking a significant shift in shareholding composition. The former shareholders of Pacific Premier now collectively account for about 30% of Columbia's shareholders post-merger.

The trading of Pacific Premier shares on the Nasdaq Stock Market ceased on September 2, 2025, marking a new chapter for both banks involved in this historic acquisition.

About Columbia Banking System

Columbia Banking System, headquartered in Tacoma, Washington, is recognized as one of the largest banks in the Western United States. Known for its personalized banking services, Columbia Bank offers retail and commercial banking, SBA lending, and wealth management services. Its commitment to superior customer service and community involvement continues to define its strategies for growth and customer satisfaction.

For further information, visit Columbia Banking System.