Take Two: Bank of NH Returns

Everything old is indeed new again. New Hampshire's oldest and largest locally owned bank-Laconia Savings Bank-has adopted a familiar name to match its history and services: Bank of NH. In April, Laconia Savings Bank renamed itself Bank of NH to reflect its statewide reach (21 branches from the North Country to southern NH) and breadth of services (personal banking, commercial banking and wealth management services).

This is the second name change in our history. The last time we changed our name was to reflect where we served, says President and CEO K. Mark Primeau of the change from Meredith Bridge Savings Bank to Laconia Savings Bank in 1869 when the City of Laconia was incorporated. Today we serve 21 different communities throughout the state and the name Bank of New Hampshire reflects who we are today.

Founded in 1831, the state-chartered mutual bank now has $1.1 billion in assets and 300 employees statewide. It is the fifth largest bank by market share behind four regional and national banks with 3.21 percent of the market. The name Bank of NH was formerly held by a community bank acquired by TD Bank, which let the trademark on the name lapse.

A new website, www.banknh.com, is up and running. Primeau says the bank surveyed 600 people, half of them existing customers, about the name change and had a positive response.

There was this perception outside the Lakes Region that we were a small bank on Lake Winnipesaukee that does home mortgages and not realizing we were a full-service bank with commercial lending, personal lending and investment banking, Primeau says. We are staying focused on New Hampshire. Our name signifies this is where we were founded and this is where we will grow.