Umpqua Bank later this year will change its name to Columbia Bank.
Tacoma-based Columbia Bank acquired Umpqua Bank in 2023, but at the time elected to keep the Umpqua name.
On Wednesday, the bank said it will scrap the Umpqua name to reduce confusion and simplify its portfolio of brands, which also includes Columbia Wealth Management, Columbia Trust Company, Columbia Private Bank, and Columbia Wealth Advisors.
It did not give a specific date for the change but said it is expected to happen later this year.
The bank on Wednesday also announced a deal to acquire the parent company of Pacific Premier Bank, which is based in Irvine, California. If the deal closes, the bank will have roughly $70 billion in assets.
“This combination truly establishes the leading banking franchise in the Western region,” said Columbia Bank CEO Clint Stein in a press release. “It is a natural and strategic fit that strengthens our competitive position in Southern California, enhances our service offerings, and elevates our performance.”
The deal is expected to close in the second half of the year.
Umpqua is the largest bank chartered in Oregon, with 107 locations and $16.8 billion in deposits in the state.
It was founded as South Umpqua State Bank in 1953 in the small southern Oregon timber town of Canyonville. IT moved its corporate headquarters from Roseburg to Portland in 2001, then to Lake Oswego in 2022.
Parent company Columbia Banking System Inc. kept its headquarters in Tacoma.
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