Tiger Brokers

BUZZ-Pacific Premier Bancorp ticks up on $2 billion buyout deal with Columbia Banking

Reuters
Apr 24
BUZZ-Pacific Premier Bancorp ticks up on $2 billion buyout deal with Columbia Banking

** 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

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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