Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), the holding company of Pacific Premier Bank, has completed its acquisition of Heritage Oaks Bancorp (NASDAQ:HEOP). D.A. Davidson & Co. served as financial advisor to Pacific Premier and delivered a fairness opinion to the board of directors.
The transaction was approved by Heritage Oaks shareholders on March 27. The value of the total deal consideration was approximately $482 million.
The transaction was the largest bank acquisition in California announced in 2016, and is Pacific Premier’s fifth bank acquisition whereby D.A. Davidson & Co. provided M&A advisory.
Full details can be found in the press release here.