After 175 years the Savings Bank of Danbury is retiring its trusted name.
Starting later this year the institution will be known as Ives Bank. There are no changes of ownership or corporate structure, and customers will not be required to take any action, as outlined in the bank’s FAQ. The next debit and credit cards issued by the bank will feature the updated logo and name, but all routing numbers, financial information, and account information will remain the same.
The new name reflects the bank’s founding in 1849, when it was originally opened in the home of George W. Ives, who served as Secretary-Treasurer between 1849 and 1860. That building is now the Charles Ives house, named for George Ives’ grandson who became a noted modernist composer, and is owned by the Danbury Museum and Historical Society.
“We have always valued the connection between our Bank and the Ives name,” said President & CEO Martin G. Morgado in a statement, adding, “The Ives name has long been a part of Savings Bank of Danbury’s history. The Bank’s first location was in the Ives home in Danbury. Our new name will acknowledge our Bank’s and region’s rich history, while also positioning us for future growth,” he said. Our internal and external discussions with our Directors, Corporators, team members and the greater community have been very positive about the new name, and we are excited to move forward in this direction.”
