09:07 AM EDT, 09/02/2025 (MT Newswires) -- Columbia Banking System ( COLB ) has completed its acquisition of Pacific Premier Bancorp ( PPBI ) , with integration of systems and services expected in Q1 of 2026, the companies said Tuesday.

At closing on Aug. 31, each Pacific Premier common share was converted into the right to receive 0.9150 of a Columbia common share, according to a joint statement.

With the completion of the deal, Columbia's assets rose to about $70 billion with $50 billion in loans and $56 billion in deposits, the companies said.

Former Pacific Premier Chairman and Chief Executive Steve Gardner joined Columbia's board as a non-executive director as part of the transaction, the companies added.

Shares of Columbia were down 1% in recent Tuesday premarket activity.