Columbia Bank, headquartered in Tacoma, has announced plans to rebrand Umpqua Bank later this year, following its acquisition of the Oregon-based bank in 2023. Initially, the company decided to retain the Umpqua name, but now, in an effort to streamline its branding and eliminate potential confusion, it will adopt Columbia Bank across all its services.
The transition is expected to occur later this year, although a specific date for the change has not been revealed. This move will align Umpqua with Columbia’s existing portfolio, which includes Columbia Wealth Management, Columbia Trust Company, Columbia Private Bank, and Columbia Wealth Advisors.
In addition to the rebranding news, Columbia Bank disclosed that it has entered into an agreement to acquire the parent company of Pacific Premier Bank, a financial institution based in Irvine, California. The acquisition, if finalized, will bring the bank’s total assets to approximately $70 billion.
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“This strategic merger positions us as a dominant banking force in the Western U.S.,” said Clint Stein, CEO of Columbia Bank. “It strengthens our footprint in Southern California, expands our service offerings, and enhances our overall market competitiveness.”
The deal, which is anticipated to close in the second half of the year, will further solidify Columbia Bank’s position in the region.
Umpqua Bank, founded in 1953 as South Umpqua State Bank in Canyonville, Oregon, is the largest bank chartered in the state. With 107 locations and $16.8 billion in deposits, Umpqua has long been a key player in Oregon’s banking industry. Over the years, it has expanded its headquarters from Roseburg to Portland and later to Lake Oswego in 2022.
The parent company, Columbia Banking System Inc., continues to operate from its headquarters in Tacoma.
