First National Bank of Green Forest in Arkansas has chosen a new name but kept it in the family, so to speak.
The $347 million-asset bank will rebrand itself as Anstaff Bank, a blend of the names of its two founding families, Anderson and Stafford. Both families are still involved in the management of the bank, which was established in 1931.
We wanted a name that reflected our long and rich history as a community bank in Arkansas, and also allowed us to look to the future and opportunities for growth," Steve Stafford, the bank's president and chief executive, said in a press release this week.
The bank expects its signage to be switched over by the end of the month.
First National took a cue from Talmer Bancorp. Talmer was established in 2007 as First Michigan Bank, and rebranded in 2011 by combining the names of its founders' grandfathers, Talmage and Merzon.
Talmer, which has $5.4 billion in assets, expanded beyond its home state the following year, announcing in 2012 that it would purchase the $2 billion-asset First Place Bank in Warren, Ohio.