Columbia Banking System, parent of Columbia Bank, closed this week on its acquisition of Pacific Premier Bancorp.
The addition of Pacific Premier Bank advances Columbia’s strategic expansion in Southern California by more than a decade and solidifies its market leadership in Northern California, Washington, Oregon and Arizona.
The combined organization will now run more than 350 locations across eight western states—Washington, Oregon, California, Arizona, Colorado, Nevada, Utah and Idaho.
Effective Sept. 1, Columbia Bank began serving customers under its unified name and brand, completing the transition announced earlier this year from the Umpqua Bank name.
The change ensures brand simplifies Columbia’s family of brands, which also includes Columbia Wealth Management, Columbia Trust Company, Columbia Private Bank and Columbia Wealth Advisors.
“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, Columbia president and CEO, 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.”
With the deal, Columbia’s assets increased to approximately $70 billion with approximately $50 billion in loans and $56 billion in deposits. The company expects to integrate its systems and services in the first quarter of 2026.
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. Also, former Pacific Premier directors, M. Christian Mitchell and Jaynie Miller Studenmund, joined Columbia’s Board of Directors as independent directors. Additionally, Tom Rice joined Columbia Bank’s executive leadership team as chief information officer, assuming the role he held with Pacific Premier Bank at transaction close.
Shares of Pacific Premier ceased trading prior to the opening of the Nasdaq Stock Market on Sept. 2.