“Our ultimate goal has been to have one bank brand.” – R. Robert Funderburg, Jr., Alpine Chairman
After a 100-year history that includes three acquisitions and two previous name changes, a coalition of two Illiniois banks will now bear only one moniker: ‘Alpine.’
Alpine Bank is the local sister of Belvidere Bank.
“Our two banks have been working very closely together for several years with many combined departments serving both banks,” said R. Robert Funderburg, Jr., chairman of Alpine.
On its website, the bank says it feels the time is right to create one unified brand in the markets it serves. The bank expects to complete the name change by the end of May.
The bank’s combined 21 branch and ATM locations complement each other nicely within a tidy 300 square mile area (see map).
According to the USPTO, there is an Alpine Bank in Colorado that has all the ‘Alpine’ trademarks locked up in the financial services category.
Bottom Line:
- It’s much easier to operate under one name and brand than two. It requires less marketing capital, less manpower.
- The single Alpine name will likely yield higher brand awareness in its concentrated market.