
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