Home Savings Bank has changed its name and updated its logo. The new name, which became effective Monday, is Hometown Bank.
The bank has branches in Kent, Brimfield Township and Ravenna.
In a news release, company President and Chief Executive Howard T. Boyle II said that in the Kent-based company’s 100-year-plus history, the bank has changed its name three times and only with good reason.
“Each time we’ve changed our name it’s because the bank’s focus has effectively changed in the community,” Boyle said. “Taking the savings out of our name is just continuing the process of updating our mission and what we do in the community.”
In 1993, the bank changed its charter to allow for more commercial lending. The bank is doing as much in commercial lending as in the residential area, Boyle said.
Boyle said changing the name would also provide a clear connection to the bank’s holding company, Hometown Bancorp.
“This is a way to solidify both the holding company and the bank with the same name,” he said.
The bank is a full-service institution with checking and savings accounts; certificates of deposit; mortgage, consumer and commercial loans; IRAs; and credit and debit cards.
The bank was founded in 1898.
Beacon Journal business writer Betty Lin-Fisher can be reached at 330-996-3724 or by email at firstname.lastname@example.org.