SEQUIM — Remodeling is under way on the former First Federal building in the Sequim Village Center to make way for Columbia Bank employees.
Columbia Bank’s new branch office will open there in October, said Tim Collins, Columbia’s Sequim branch manager.
Work started Tuesday on the more than 3,000-square-foot building on the south side of West Washington Street, across the street from the Safeway supermarket, where Columbia has tight office space, Collins said.
“We’re extremely excited about that,” Collins said of the new space, adding that it will allow Columbia to expand its services and staff, though he was uncertain how many employees would be added.
Staffing will be determined “as we transition and be based on the business need,” he said.
A staff of three, plus Collins, works at the Safeway offices.
Value of project
A city of Sequim building permit shows the value of the remodeling project at $156,800.
Columbia Bank bought the property from First Federal last year for $820,875, down from an asking price of $1.2 million.
BPCI Accrete Construction LLC of Puyallup is the contractor on the job.
A chain-link security fence was put up around the building late last week.
The Sequim branch’s remodeling and reopening will be timed with the opening of a remodeled Port Angeles branch, Collins said.
“We’ll have additional offices for a commercial lender, and one or two days a week, we’ll have a financial service persons,” he said.
The building has been vacant since the First Federal branch office moved about five years ago to Sequim Village Marketplace, West Washington Street at Priest Road.
Columbia Bank bought out the failing American Marine Bank chain in January 2010. The Sequim branch has been housed for years inside the Safeway supermarket at Washington Plaza.
Planning to grow
The 18-year-old Tacoma-based Columbia Bank chain of 83 branches is committed to the community, Collins said, and is planning to grow.
Besides Sequim and Port Angeles, the bank has Jefferson County branches in Port Townsend and Port Ludlow.
“Our goal is to be the premier regional bank,” he said.
Columbia Banking System Inc. is the holding company of Columbia Bank, a Washington state-chartered, full-service commercial bank.
Columbia provides commercial banking services to small and medium-sized businesses, professionals and other individuals in the states of Washington and Oregon.
Included in Columbia Bank are former branches of Columbia River Bank and American Marine Bank. Columbia Bank also does business under the Bank of Astoria name along the coast of Oregon.
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Sequim-Dungeness Valley Editor Jeff Chew can be reached at 360-681-2391 or at jeff.chew@peninsuladailynews.com.
