Columbia Banking to acquire Pacific Premier Bancorp in all-stock merger (0.9150x)

COLUMBIA BANKING SYSTEM, INC.

Each PPBI share converts to 0.9150 COLB shares; fractional shares paid in cash.
Termination fee of $75M payable by either party under specified conditions.
Three PPBI directors, incl. CEO Steven R. Gardner, to join Columbia board.
Deal requires approvals from Columbia & Pacific Premier shareholders and regulators (Fed, FDIC, Oregon).
Columbia will file Form S-4 with joint proxy/prospectus for shareholder votes.

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