Who says managing interest rate risk or underwriting are the hard parts of banking? Just try changing your bank's name.
Chuck Boulier, president and chief executive of Naugatuck Savings Bank, found this out recently. Management and directors of the $976 million-asset mutual thrift in Connecticut spent two years planning its upcoming name change. That included the process of sifting down the choices from an original list of 200, to a short list of eight, to the three finalists. The winner: Ion Bank.