Columbia Banking System and Pacific Premier Bancorp 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 U.S. Securities and Exchange Commission.
“We are pleased by the overwhelming support for the proposed acquisition, which will enhance our market leadership across the West and create significant value for our customers, communities and shareholders,” Clint Stein, president and CEO of Columbia, said. “Progress towards regulatory approvals remains on track, and teams at both banks are preparing for a swift and seamless closing following final regulatory approvals.”
“Today’s vote is an important step towards uniting our two exceptional and complementary franchises,” Steve Gardner, chairman, CEO and president of Pacific Premier, said. “We look forward to completing the transaction as quickly as possible and leveraging the full breadth of our combined resources and capabilities to support our customers.”
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.
