Columbia Banking System and Pacific Premier Bancorp Announce Merger Agreement

Strategic Insights -

Columbia Banking System, Inc. and Pacific Premier Bancorp have entered into a definitive merger agreement, pursuant to which Columbia will acquire Pacific Premier in an all-stock transaction. The combined company will have approximately $70 billion in assets and will be a market leader in the largest banking markets within the Western U.S. The merger is valued at approximately $2.0 billion, or $20.83 per Pacific Premier share, based on Columbia's closing stock price of $22.77 on April 22, 2025.

Key Takeaways:

  • The merger combines two leading regional banks in the Western U.S., creating a market leader with approximately $70 billion in assets.
  • The combined company will have a strong presence in key market areas, including California, Oregon, and Washington.
  • The acquisition accelerates Columbia's expansion in Southern California by approximately a decade, moving its deposit market share to a top-10 position.
  • Pacific Premier's strength in specialized banking verticals such as Homeowners Association (HOA) Banking and Custodial Trust will enhance Columbia's product offering.
  • Pacific Premier clients will gain access to Columbia's robust Treasury Management products and Wealth Management services.
  • The combined company will continue to support local communities through volunteerism, charitable giving, and other bank-sponsored programs.
  • Three Pacific Premier directors, including Steve Gardner, will join the Columbia board upon the completion of the transaction.

Statistics:

  • The combined company will have approximately $70 billion in assets.
  • The merger is valued at approximately $2.0 billion.
  • Columbia's closing stock price on April 22, 2025, was $22.77.
  • Pacific Premier's share price is $20.83, based on the merger valuation.
  • The transaction accelerates Columbia's expansion in Southern California by approximately a decade.
  • Columbia's deposit market share in California totals nearly $21 billion.

Sources:

  • Columbia Banking System news release, April 22, 2025.
  • Pacific Premier Bancorp news release, April 22, 2025.