Columbia Banking System, Inc. (COLB) entered a merger agreement on April 24, 2025, to acquire Pacific Premier Bancorp, Inc. (PPBI) in an all-stock deal valued at $2 billion.
Under the terms of the merger agreement, Pacific Premier stockholders will receive 0.9150 of a share of Columbia common stock for each Pacific Premier share they own. The merger is valued at about $20.83 per Pacific Premier share, representing a 3.58% premium from the stock’s last close.