Local Bank Now Under New Title
By: Lakeshore Staff
January 20, 2015 — A local bank entered the new year with a new name.
American Savings, FSB officially became American Community Bank in December 2014.
In a statement, American Community Bank says it wants to make it clear that this is not a merger, acquisition, or sale of any kind. This name change is an expression of the bank’s shift to a full-service community bank, officals say.
The bank’s President, Michael Mellon, says “We are excited to announce this news. We feel that this new name more accurately reflects who and what we are.”
The bank was established on March 29, 1910 in Hammond as The First Polish Building Loan & Savings Association. The bank changed its name to American Savings and Loan Association in 1937 and remained that way until 1987 when the bank converted to a federally chartered institution and became American Savings, FSB.
The bank today has converted to a state chartered bank, becoming American Community Bank. Says Mellon, “It’s an important change because it creates a new identity that lets the community know that we’ve expanded and enhanced our banking services, providing a complete banking solution. However, in many ways it’s not a big change, because we are, and will remain, a community bank with the same ownership, the same employees, and the same community spirit.”
Source: American Community Bank