Columbia Banking System, Inc. (COLB) is expanding its Utah footprint, with subsidiary Columbia Bank opening a new branch in Draper, the first of three locations the bank plans to add across the Salt Lake City area during 2026. Follow-up branches in Pleasant Grove and Salt Lake City's Sugar House neighborhood are slated to widen the bank's Utah network. The openings come as COLB stock fell 0.71% to $32.11, retreating from earlier highs near $32.80. The expansion strengthens Columbia's commercial and retail banking services across the Utah market.

Columbia Bank Expands Utah Presence With Draper Branch

The Draper branch represents Columbia Bank's latest step toward expanding commercial and retail banking services across Utah. The location sits about 20 miles from Salt Lake City and stands as the first of the three planned new locations for 2026, giving Columbia an additional physical base within one of Utah's active commercial markets as it works to deepen its presence in the state.

The bank entered Utah in 2022 with a commercial banking team led by Utah Market Director Jeff Thomas. In the years since, Columbia has expanded its commercial and industrial banking capabilities while developing its local business relationships. The bank has also added a Salt Lake City commercial real estate team led by Steve Strong and David Griffin.

As its Utah operations continue to expand, Columbia plans to strengthen its Mountain West network. The bank views Salt Lake City as an important link between its regional teams and its broader banking footprint, and the new locations will give local businesses wider access to Columbia's financial services and lending capabilities.

Draper Branch Combines 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, an area that supports technology companies and other growing businesses. The branch combines commercial banking operations with retail services under one roof.

Customers at the new location can access consumer banking, commercial lending, real estate financing, healthcare banking, and home builder finance. Through its broader banking platform, Columbia also provides treasury management, wealth management, and commercial card services. Together, these offerings expand the bank's ability to support companies with a range of different financing and cash management requirements.

The branch operates from 13947 Minuteman Drive, Suite 175, in Draper, and is open from 9 a.m. until 5 p.m. from Monday through Friday. Retail Branch Manager Matt Quinney leads the location, having previously managed Columbia's South Jordan branch.

Columbia Banking System Builds Out Its Salt Lake City Network

Columbia moved its South Jordan operations to the larger Draper facility during July and 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 additional room for expanding local banking operations.

The Draper opening will be followed by new branches in Pleasant Grove and in Salt Lake City's Sugar House neighborhood. Together, the three locations will broaden access to commercial and retail banking services across the Salt Lake City metropolitan area, and the expansion builds on the commercial banking presence Columbia first established in Utah four years earlier. For regional businesses and consumers, the added branches point to a deeper on-the-ground presence rather than a single isolated opening, with Columbia extending coverage across more of the metro area as it continues building out its Utah platform.

Despite the announcement of the regional expansion, shares of Columbia Banking System traded lower. COLB fell 0.71% to $32.11 after reaching an earlier intraday level near $32.80. The stock movement came as the bank continued executing its planned Utah branch expansion during 2026, with the Draper location now open and two more branches still ahead for the year.