The National Community Reinvestment Coalition (NCRC), in partnership with Rise Economy, today announced a $2.5 billion addendum to Columbia Bank’s Community Benefits Agreement (CBA), expanding the bank’s commitments in California following its recent acquisition of Irvine, California-based Pacific Premier Bank.
“This update to the Columbia Bank Community Benefits Agreement reflects a strong commitment to expanding economic opportunity in the bank’s expanding footprint, deepening community engagement, and in particular supporting rural communities and small businesses,” said Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition. “As Columbia Bank grows through its acquisition of PPBI, we’re encouraged to see a continued focus on the needs of underserved areas and entrepreneurs who are the backbone of local economies.”
“We appreciate the collaborative approach taken by Columbia Bank’s leadership in working with community members to develop an agreement that directly addresses the needs of all Californians,” said Paulina Gonzalez-Brito CEO of Rise Economy. “Bank mergers should deliver meaningful public benefits. This commitment achieves that by strengthening lending support for small businesses and farms, investing in Tribal-led CDFIs and other tribal organizations, and supporting access to affordable housing and down-payment assistance programs. We look forward to seeing the positive impact of this agreement over the next five years.”
Additional Columbia Bank commitments to California communities include:
Small Business and Farm Lending and Support
Commitment: $630 million in support to Small Businesses and Small Farms
Columbia Bank will prioritize additional access to capital and technical assistance for enterprises earning less than $1 million in annual revenue. Each year starting in 2026 through 2028, the bank will also increase its impact with small business and farm loans totaling less than $100,000, as well as its number of Small Business Administration loans less than $250,000.
Community Investment and Development
Commitment: $1,395 billion
Columbia Bank will support small business growth and access to affordable housing in low- and moderate-income (LMI) communities through EQ2 investments and partnerships with community development financial institutions (CDFIs) and other providers of small business lending and technical assistance. Additional investments will target quality of life challenges, including those related to disaster relief, food insecurity and other public health initiatives.
CRA-Focused Philanthropy
Commitment: $10.6 Million
Columbia Bank’s additional philanthropic commitment in California will prioritize former Pacific Premier Bank nonprofit partners, support housing and home ownership stability, as well as provide unrestricted financial support so organizations can fund priorities and build capacity.
Home Lending and Mortgage Assistance
Commitment: $525 million to support homeownership
Columbia Bank will support access to homeownership with additional lending across under-resourced communities, including in LMI neighborhoods. The bank will also expand down payment assistance programs and collaborate with partners on related education and marketing initiatives.
