Columbia Banking System, Inc. completed the acquisition of Pacific Premier Bancorp, Inc.
The acquisition accelerates the company's expansion in Southern California.
Columbia Bank unveiled its new brand and introduced a name change to customers.
Strategic Expansion
The acquisition of Pacific Premier advances Columbia's strategic expansion in key western markets.
Increased Assets
At the transaction close, Columbia's assets increased to approximately $70 billion with significant growth in loans and deposits.
New Board Members
Former Pacific Premier directors have joined Columbia's Board of Directors, enhancing the leadership team.
Shareholder Transition
Former Pacific Premier stockholders collectively represent approximately 30% of Columbia's shareholders post-closing.
- The acquisition solidifies Columbia's market leadership in Northern California, Washington, Oregon, and Arizona.
- The combined organization now operates more than 350 locations across eight western states, reinforcing Columbia's position as a regional banking leader.
The completion of the acquisition marks a significant milestone for Columbia Banking System, positioning the company for continued growth and market leadership.