TLDR
- COLB stock falls 0.71% to $32.11 as Columbia Bank expands its Utah presence.
- Columbia Bank opens a new 14,000-square-foot commercial branch in Draper, Utah.
- Draper becomes the first of three new Columbia Bank branches planned for 2026.
- New Pleasant Grove and Sugar House branches will expand Columbia’s Utah network.
- Columbia strengthens commercial and retail banking services across the Utah market.
Columbia Banking System (COLB) shares expanded its Utah footprint as subsidiary Columbia Bank opened a new branch in Draper. The expansion comes as COLB stock fell 0.71% to $32.11 after retreating from earlier highs near $32.80. The bank plans two more Salt Lake City area branches during 2026.
Columbia Banking System, Inc., COLB
Columbia Bank Expands Utah Presence With Draper Branch
Columbia Bank opened the Draper location as its latest step toward expanding commercial and retail banking services across Utah. The branch sits about 20 miles from Salt Lake City and represents the first of three planned locations. Columbia gains another physical base within one of Utah’s active commercial markets.
The bank entered Utah in 2022 with a commercial banking team led by Utah Market Director Jeff Thomas. Since then, Columbia has expanded its commercial and industrial banking capabilities while developing its local business relationships. The bank also added a Salt Lake City commercial real estate team led by Steve Strong and David Griffin.
Columbia plans to strengthen its Mountain West network as its Utah operations continue expanding. The bank views Salt Lake City as an important link between its regional teams and broader banking footprint. Furthermore, the new locations will give local businesses wider access to Columbia’s financial services and lending capabilities.
Draper Branch Adds Commercial and Retail Banking Services
The Draper branch operates from a 14,000-square-foot facility within the Minuteman Office Plaza. Its location places Columbia along Utah’s Silicon Slopes corridor, which supports technology companies and other growing businesses. The branch combines commercial banking operations with retail services under one roof.
Customers can access consumer banking, commercial lending, real estate financing, healthcare banking, and home builder finance. Columbia also provides treasury management, wealth management, and commercial card services through its broader banking platform. These services expand the bank’s ability to support companies with different financing and cash management requirements.
The branch operates from 13947 Minuteman Drive, Suite 175, in Draper. It opens from 9 a.m. until 5 p.m. from Monday through Friday. Retail Branch Manager Matt Quinney leads the location after previously managing Columbia’s South Jordan branch.
Columbia Banking System Builds Salt Lake City Network
Columbia moved its South Jordan operations to the larger Draper facility during July. The bank then held a grand opening celebration for the new branch on July 27. As a result, the Draper office now provides greater capacity for existing customers and expanding local banking operations.
Columbia will follow the Draper opening with new branches in Pleasant Grove and Salt Lake City’s Sugar House neighborhood. Together, the three locations will broaden access to commercial and retail banking across the Salt Lake City metropolitan area. The expansion also builds on Columbia’s commercial banking presence established in Utah four years earlier.
Columbia Banking System shares traded lower despite the announcement of the regional expansion. COLB fell 0.71% to $32.11 after reaching an earlier intraday level near $32.80. The stock movement occurred as Columbia continued executing its planned Utah branch expansion during 2026.
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