You might have checked your brokerage account recently and noticed something weird. The ticker PPBI is gone. It didn’t just vanish into thin air, though it feels that way if you haven’t been glued to financial news. Honestly, the banking world moves fast. One minute you're holding a steady regional bank in Southern California, and the next, your dashboard is showing shares of Columbia Banking System (COLB).
Basically, the era of Pacific Premier Bank stock as a standalone investment ended on September 1, 2025.
The $2.4 Billion Reality Check
The big news—the "why" behind the ticker change—is the massive merger. Columbia Banking System, the parent company of what we now know as Columbia Bank (formerly Umpqua), swallowed Pacific Premier in a deal valued at roughly $2.4 billion. It wasn't a hostile takeover or a desperate fire sale. It was a calculated play to create a West Coast powerhouse.
If you held Pacific Premier Bank stock at the time of the close, your shares were converted. The exchange ratio was 0.9150 shares of Columbia (COLB) for every single share of PPBI you owned.
Did you get a good deal?
At the time of the announcement in April 2025, that ratio valued PPBI at about $20.83 per share. By the time the ink dried in September, the market had its say. Columbia's stock fluctuates, meaning the "value" you received changed every single day until the closing bell.
Why the Merger Matters for 2026
We are now in early 2026, and the "integration" phase is reaching its peak. This month—January 2026—is the scheduled window for the full systems integration. This is where the rubber meets the road. We’re talking about merging IT stacks, unifying customer accounts, and making sure the "Pacific Premier" signs are officially swapped out for "Columbia Bank."
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For investors, this is the "danger zone" or the "profit zone," depending on who you ask.
- The Bull Case: Management expects around $127 million in pretax cost savings. That’s a lot of overhead gone. They are also eyeing a 14% boost in earnings per share (EPS) for this year.
- The Bear Case: Integration is messy. Ask any bank teller who has lived through a merger. If customers get frustrated with new apps or lost paperwork during this January transition, they might walk.
What Most People Get Wrong About PPBI
People often think regional banks are "safer" because they feel local. But Pacific Premier Bank stock was always a sophisticated beast. Before the merger, they were sitting on about $17.8 billion in assets. They weren't a tiny corner bank; they were a commercial lending machine.
One thing people missed was their deposit discipline. In mid-2025, Pacific Premier actually managed to lower their cost of deposits to 1.60%. That’s impressive when everyone else was screaming about high interest rates. They had a high percentage of non-maturity deposits (about 86.5%), which made them a very attractive prize for Columbia.
The Dividend Switch-Up
If you liked the dividends, you’ve noticed a change. Pacific Premier was paying out $0.33 per share quarterly. Now, as a Columbia (COLB) shareholder, you’re playing by their rules. Columbia has been maintaining a healthy yield—around 5.5% lately—but the payout structure is different.
- PPBI stopped existing as a trading entity on September 2, 2025.
- Your income now depends on Columbia’s Board of Directors.
- Tax-wise, the swap was generally structured as a tax-free reorganization (except for any cash you got for fractional shares).
Looking at the Numbers (No Fluff)
Let’s look at the financial health of the entity that replaced your Pacific Premier Bank stock. The combined company is now a $70 billion monster. They have $50 billion in loans spread across eight states: Washington, Oregon, California, Arizona, Colorado, Nevada, Utah, and Idaho.
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It’s a huge footprint.
But scale brings its own headaches. Analysts like those at Piper Sandler and Raymond James have been back and forth on the stock. Some lowered price targets to $33 recently, citing the "integration challenge." Others see it as a "Strong Buy" because the bank is now the largest headquartered in the Northwest.
Is It Still a Good Buy Under the New Name?
Buying into the old Pacific Premier Bank stock story today means buying COLB. It’s no longer a "Southern California growth play." It’s a "Western United States dominance play."
You have to decide if you trust Clint Stein (Columbia’s CEO) and the team—which now includes Steve Gardner, the former CEO of Pacific Premier, on the board. Gardner spent two decades building Pacific Premier. He isn't just walking away; he’s helping steer the new ship.
Honestly? The regional banking sector is still recovering from the 2023 jitters. But the "lighter regulatory approach" expected in 2026 is giving these merged banks some breathing room.
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Actionable Next Steps for Investors
If you are still holding the converted shares or thinking about jumping in:
Audit Your Cost Basis: Since your Pacific Premier Bank stock was swapped, your brokerage might show a "new" cost basis. Check your original PPBI purchase price to ensure your long-term capital gains tracking is accurate.
Watch the January Reports: The Q4 2025 earnings report (dropping late January or early February 2026) is the "moment of truth." It will reveal how much of that $127 million in savings is actually materializing and if the system integration this month caused a mass exodus of deposits.
Diversification Check: You are now tied to the Pacific Northwest economy as much as California’s. If you already have heavy exposure to Seattle or Portland real estate, you might be more concentrated than you realize.
Monitor the Dividend: Don’t just assume the $0.33 per share logic applies. Check the new quarterly declarations from Columbia Banking System to see how they are balancing the $700 million share buyback they authorized late last year against their dividend payouts.
The ticker PPBI is a memory, but the assets and the clients are very much alive inside the Columbia brand. Whether this $2.4 billion marriage is a honeymoon or a headache will be decided by how well they handle the next 90 days of integration.