Ottawa Savings Bank has a new name to reflect its change from a federally chartered savings association to an Illinois-chartered commercial bank.
The newly minted business name is OSB Community Bank, according to a news release issued Monday by bank officials. The conversion to a commercial bank also was completed Monday. The new name will be used for all branch locations in Ottawa, Marseilles and Morris as well as loan production offices in La Salle and Yorkville.
The new name also aims to embrace all of the communities the bank serves.
Ottawa Savings Bank was first chartered in Ottawa in 1871 and was named to represent the community it served at the time. In December 2014, the bank merged with Twin Oaks Savings Bank. The Twin Oaks name was kept as a division of Ottawa Savings Bank at that time as a symbol of continuity to the other communities the institution served.
“Today, all of our communities are closely connected, and one name that represents all of the locations that the bank serves reflects this connection,” said Craig Hepner, president and CEO of OSB Community Bank, in a news release. “Our new name, OSB Community Bank, is a nod to the past while uniting our communities and branches together for the future.”
The bank is celebrating 150 years of service this year.