Columbia Banking and Pacific Premier receive required approvals for acquisition

Columbia Banking System (COLB), and Pacific Premier Bancorp (PPBI) jointly announced that they have received all required shareholder and stockholder approvals related to Columbia’s proposed acquisition of Pacific Premier. The final results on the proposals voted on at the special meetings of Columbia’s shareholders and Pacific Premier’s stockholders will be set forth in the companies’ respective Current Reports on Form 8-K to be filed with the SEC. Completion of the transaction is subject to the receipt of regulatory approvals and the satisfaction of the other remaining customary closing conditions set forth in the merger agreement. Columbia and Pacific Premier anticipate the transaction to close later in 2025, subject to these requirements.