State Bank & Trust has added the name "Bell" to its familiar name and "trees" logo, rebranding the Fargo-based, independently owned bank as "Bell State Bank & Trust." The name change was effective Sunday, Sept. 23, with Monday, Sept. 24, the first day of business as Bell State Bank & Trust.
"With more than 200 banks in our region that have the words 'State Bank' in their name, there is confusion about 'which State Bank' we are," said Bell State Bank & Trust president Michael Solberg, adding that the bank regularly receives calls from across the country from people who think they are calling a "State Bank" somewhere else in the U.S.
Even in Hawley, Minn., where Bell State Bank & Trust will open its newest location on Monday (with signs going up today), there is already a "State Bank of Hawley."
Solberg said the "Bell" name was borrowed from the bank's Bell Mortgage division, which State Bank & Trust purchased in early 2011. Founded in 1880 by early Minneapolis leader David C. Bell, Bell Mortgage is a highly respected company with more than half a million family mortgages to its name.
"We felt the Bell name fit perfectly with our company's reputation and culture," said Solberg.
Solberg said State Bank & Trust has been through several name changes and logo variations during its 44-year history, and the bank's values of a family atmosphere, personal service and giving back to the community have never changed. The bank's headquarters remain in Fargo, and its majority stockholders, the Snortland and Solberg families, remain the owners and were key decision-makers for the name change.
"We are committed to remaining a locally based, independently owned bank for generations to come," said Solberg.