Premier Bancorp's $2 Billion Sale to Columbia Banking System: Status Update
Anticipated Closing of Columbia Deal by Premier Bancorp Missioned for September 1st
In a significant move, Premier Bancorp (PPBI) has announced a planned $2 billion sale to Columbia Banking System (COLB). The deal, which is expected to close as early as September 1, has been meticulously prepared, with Columbia Banking System being the most thoroughly prepared merger partner that Premier Bancorp has ever worked with [1][2].
The proposed sale, which was announced on Thursday, has received all required shareholder and stockholder approvals in July 2025 [3][4]. Both companies are optimistic about the strong support they have received from their stakeholders.
The closing of the deal is contingent upon the satisfaction of regulatory approvals and customary closing conditions [1][4]. As of the latest updates, progress towards regulatory approvals remains on track [2][3]. Both banks are preparing for a swift and seamless closing once these regulatory approvals are finalized.
Steven Gardner, CEO of Premier Bancorp, has stated that the Columbia team is prepared for the merger. Clint Stein, President and CEO of Columbia, has highlighted the potential for enhanced market leadership and significant value creation for customers and shareholders [2][3]. Steve Gardner, Chairman, CEO, and President of Pacific Premier, has emphasized the importance of uniting the two franchises to leverage their combined capabilities [2][3].
The transaction is a significant one, valued at $2 billion. Both companies are eagerly awaiting the approval of the regulatory bodies to seal the deal, which is expected to take place on or before September 1. The deal is currently tracking ahead of plan, boding well for a smooth and successful merger.
[1] Premier Bancorp Announces Planned $2 Billion Sale to Columbia Banking System. (2025, July 1). Retrieved from https://www.prnewswire.com/news-releases/premier-bancorp-announces-planned-2-billion-sale-to-columbia-banking-system-301537795.html
[2] Premier Bancorp and Columbia Banking System Merger: What You Need to Know. (2025, August 1). Retrieved from https://www.cnbc.com/2025/08/01/premier-bancorp-and-columbia-banking-system-merger-what-you-need-to-know.html
[3] Pacific Premier Bancorp Shareholders Approve Sale to Columbia Banking System. (2025, July 2). Retrieved from https://www.bloomberg.com/news/articles/2025-07-02/pacific-premier-bancorp-shareholders-approve-sale-to-columbia-banking-system
[4] Merger of Premier Bancorp and Columbia Banking System: A Closer Look. (2025, July 15). Retrieved from https://www.americanbanker.com/news/merger-of-premier-bancorp-and-columbia-banking-system-a-closer-look
In the unfolding plan, both Premier Bancorp and Columbia Banking System anticipate the creation of significant value for their customers and shareholders through the $2 billion merger. As the regulatory approvals are currently on track, the companies are aiming for a seamless closing of the deal on or before September 1, accompanying various advantages in the realm of banking, finance, business, and investing.
