Columbia Banking System completes all-stock acquisition of Pacific Premier Bancorp

COLUMBIA BANKING SYSTEM, INC.

Each Pacific Premier share converted into 0.9150 share of Columbia common stock; former PPBI shareholders hold ~30% of combined company.
Combined company has ~$70B assets, ~$50B loans, ~$56B deposits, and >350 branches across 8 western states.
Three former Pacific Premier directors (Steven Gardner, M. Christian Mitchell, Jaynie Miller Studenmund) join Columbia board; Gardner also enters $2.2M consulting agreement.
Tom Rice, former Pacific Premier CIO, joins Columbia Bank's executive leadership team as CIO.
Systems integration expected in Q1 2026; brand transition from Umpqua to Columbia complete as of Sept 1, 2025.

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