Columbia Banking System (Nasdaq: COLB), parent company of Umpqua Bank, has announced a definitive merger agreement to acquire Pacific Premier Bancorp (Nasdaq: PPBI) in an all-stock transaction valued at approximately $2 billion. The combined institution will have approximately $70 billion in assets and establish a leading banking franchise across the Western U.S. According to the terms of the agreement, Pacific Premier stockholders will receive 0.9150 shares of Columbia common stock for each Pacific Premier share, representing approximately 30% ownership in the combined company. The transaction is expected to deliver mid-teens EPS accretion to Columbia with tangible book value dilution earned back in three years. The deal enhances Columbia’s product offerings with specialized banking verticals including Homeowners Association Banking and Custodial Trust services. As part of the integration, Umpqua Bank plans to change its name to Columbia Bank later this year. The transaction is anticipated to close in the second half of 2025, subject to regulatory and shareholder approvals.
Forward for Specialty Finance
Columbia Banking System to Acquire Pacific Premier in $2B All-Stock Transaction
Western regional banks unite to create $70 billion asset powerhouse with enhanced market presence in Southern California and specialized banking verticals.
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