Columbia Banking System, the parent company of Columbia Bank, and Pacific Premier Bancorp, the parent company of Pacific Premier Bank, closed Columbia’s previously announced acquisition of Pacific Premier.
The addition of Pacific Premier advances Columbia’s expansion in Southern California by more than a decade.
“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,” Clint Stein, president and CEO of Columbia, said. “We are thrilled to welcome Pacific Premier associates, customers and communities to our company. We remain laser-focused on executing a seamless and efficient integration under the unified Columbia family of brands, in support of long-term shareholder value.”
At transaction close, Columbia’s assets increased to approximately $70 billion with approximately $50 billion in loans and $56 billion in deposits. The combined organization will operate more than 350 locations across eight western states: Washington, Oregon, California, Arizona, Colorado, Nevada, Utah and Idaho. The company expects to integrate its systems and services in Q1/26.
Effective Sept. 1, 2025, Columbia Bank began serving customers under its unified name and brand, completing the transition announced earlier this year from the Umpqua Bank name.
Former Pacific Premier chairman, president and CEO Steve Gardner joined Columbia’s board of directors as a non-executive director upon completion of the transaction, and former Pacific Premier directors, M. Christian Mitchell and Jaynie Miller Studenmund, joined Columbia’s board of directors as independent directors. Additionally, Tom Rice has joined Columbia Bank’s executive leadership team as chief information officer, assuming the role he held with Pacific Premier Bank at transaction close.
