tradingkey.logo

Pacific Premier Bancorp ticks up on $2 billion buyout deal with Columbia Banking

ReutersApr 24, 2025 1:59 PM

Regional lender Pacific Premier Bancorp's PPBI.O shares rise 1.7% to $20.46 in early trading

Umpqua Bank-parent Columbia Banking System COLB.O will buy PPBI in a $2 billion all-stock deal, the companies announced late Wednesday

COLB shares fall 3.6% to $22.68

Deal values PPBI at $20.83 per share, implying a 3.6% upside to stock's last close

Transaction, expected to close in the second half of 2025, will create a combined bank with about $70 billion in assets and bolster COLB's presence in Western U.S.

Umpqua Bank plans to change its name to Columbia Bank later this year to "ensure brand clarity" as it deepens its expansion throughout the West

PPBI stock has fallen 17.7% YTD while COLB is down 16% YTD

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI