Tacoma-based Columbia Bank will build a new branch on the now-vacant gravel parking lot just east of the Union 76 gas station/car wash on Edmonds Way.
According to Mark Nelson, the bank’s executive vice president and chief operating officer, the earliest the branch could open would be in late 2012. “We recently acquired two other banks in Snohomish and Skagit counties so right now our attention is focused on getting those into our system,” he said. Those branches — First Heritage in Snohomish and Summit in Burlington — are “part of our strategy to fill out our footprint going north, with Edmonds being a piece of that,” he said.
The branch will employee a minimum of five employees but it could be up to 10, given plans for “additional capabilities on the wealth management and lending side,” he added.
Nelson said that the bank purchased the Edmonds Way property in the busy Westgate area because of its location on a major thoroughfare. The branch will have a drive-through window, but the actual design won’t be finalized until the city permitting process is complete. “It’s in the development stage right now, which will be followed by the application process for a permit,” he said.