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New downtown bank opens

Columbia hopes to fill niche formerly occupied by Bank of Clark County

By Libby Clark
Published: December 15, 2009, 12:00am
2 Photos
Columbia Bank has opened its first Vancouver branch in the Al Angelo building downtown.
Columbia Bank has opened its first Vancouver branch in the Al Angelo building downtown. Photo Gallery

Columbia Bank on Monday joined the list of 18 local and national banks vying for customers here after the Bank of Clark County failure shook the financial industry last January.

The Tacoma-based bank, which caters to small businesses, on Monday opened its first Vancouver branch downtown in the nearly complete Al Angelo building at 400 East Mill Plain Blvd.

“Bank of Clark County did a good job serving the local business community,” said Mark Brandon, senior vice president and regional manager for Columbia Bank in Oregon and Southwest Washington. “We hope to fill that niche.”

The new location marks the bank’s continued expansion into the Vancouver-Portland metro area, said Brandon. The bank, which already operates offices in Longview, Woodland and outlying Portland, plans to open its first downtown Portland branch in the Fox Tower on March 1.

Previously: Columbia Bank in June announced it would open its first Vancouver branch.

What's new: The new branch opened Monday in the Al Angelo building downtown.

What's next: The bank will open its next new branch March 1 in downtown Portland.

Columbia Bank lost $2.6 million in the quarter ending Sept. 30. That’s compared to a net loss of $8.8 million in the same quarter a year ago, according to the company. The bank employs 705 workers at 51 branches in Oregon and Washington, with 10 new hires at the Vancouver branch.

Previously: Columbia Bank in June announced it would open its first Vancouver branch.

What’s new: The new branch opened Monday in the Al Angelo building downtown.

What’s next: The bank will open its next new branch March 1 in downtown Portland.

With some $3 billion in total assets as of June 30, Columbia Bank ranks among the larger community banks with Vancouver branches. Roseburg, Ore.-based Umpqua Bank, for example, ranked No. 7 in market share for Clark County by FDIC in 2009, held $6.6 billion in total deposits. And Banner Bank in Walla Walla ranked No. 13 with a total of $3.6 billion in deposits.

Vancouver’s two homegrown banks still rank higher in terms of market share, however, among even the largest banks, including Wells Fargo and U.S. Bank.

Vancouver-based First Independent, ranked No. 2 in market share, held $56.9 million in deposits in June. While Riverview Community Bank, at No. 4, held more than $205 million in total deposits.

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