#United States #Acquisition #Columbia Bank #Tacoma, Washington #Pacific Premier

Columbia Banking System and Pacific Premier Bancorp Announce Acquisition Approval

Tacoma, Washington and Irvine, California – In a major development within the banking sector, Columbia Banking System, Inc. (Nasdaq: COLB) and Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) have announced that they have successfully received all necessary shareholder and stockholder approvals related to Columbia's proposed acquisition of Pacific Premier. This milestone, achieved on July 21, 2025, sets the stage for a significant consolidation in the financial industry that is expected to benefit customers and communities alike.

President and CEO of Columbia, Clint Stein, expressed satisfaction with the overwhelming support received for the acquisition, emphasizing the anticipated enhancement of their market leadership across the West. He stated, "We are pleased by the overwhelming support for the proposed acquisition, which will enhance our market leadership across the West and create significant value for our customers, communities, and shareholders."

On the other hand, Steve Gardner, Chairman, CEO, and President of Pacific Premier, noted that the vote is a crucial step toward merging their distinct yet complementary franchises. He added, "We look forward to completing the transaction as quickly as possible and leveraging the full breadth of our combined resources and capabilities to support our customers."

The completion of this acquisition is still contingent upon receiving regulatory approvals, as well as adhering to other customary closing conditions highlighted in the merger agreement. Both Columbia and Pacific Premier anticipate concluding this transaction later in 2025, pending these critical approvals.

About Columbia Banking System

Columbia Banking System, headquartered in Tacoma, Washington, is the parent company of Columbia Bank, which operates under the name Umpqua Bank. It is recognized as the largest bank headquartered in the Northwest region and ranks among the largest banks in the Western United States, boasting a presence across Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. With assets totaling over $50 billion, Columbia Bank merges the resources of a national bank while maintaining a commitment to personalized customer service. They offer a comprehensive suite of services, including retail and commercial banking, SBA lending, institutional banking, and equipment leasing, in addition to wealth management services through their subsidiary, Columbia Wealth Advisors.

About Pacific Premier Bancorp, Inc.

Founded in 1983, Pacific Premier Bancorp, Inc. serves as the parent company for Pacific Premier Bank, a nationally chartered commercial bank dedicated to small, middle-market, and corporate enterprises throughout the western United States, particularly in major metropolitan markets such as California, Washington, Oregon, Arizona, and Nevada. With total assets nearing $18 billion, Pacific Premier Bank is recognized as one of the largest banking institutions in its region, providing a range of banking products and services tailored for businesses, professionals, and nonprofit organizations. They feature various loan offerings, including commercial business loans and real estate loans, among others, enhancing their clientele's financial capabilities.

Looking Ahead

As the two banks progress toward uniting their operations, the potential benefits of the acquisition are being closely monitored by stakeholders. Both institutions are actively preparing for a seamless integration phase, ensuring minimal disruption for customers during the transition.

In conclusion, the journey toward this significant merger is progressing as planned, with expectations high for a robust, united banking entity that can leverage expanded resources and expertise to better serve their collective customer base. This acquisition not only marks a pivotal moment for both companies but also holds promise for enhancing the banking landscape across the western United States.

For more information about Columbia Banking System, visit Columbia Banking System. To learn more about Pacific Premier Bancorp, explore their official site at Pacific Premier.