Academic journal article ABA Banking Journal

What's in a Name? First Safety Bank, St. Bernard, Ohio

Academic journal article ABA Banking Journal

What's in a Name? First Safety Bank, St. Bernard, Ohio

Article excerpt

This bank's name story involved a very conscious decision. The $51.6 million-assets institution started Life as St. Bernard Loan and Building Association in 1881. Many years later, in the mid-1970s, it merged with a similar institution called Safety Building and Loan. The merged institutions called themselves Southern Ohio Savings Association, and the "safety" part was lost to history, or so it seemed.

Fast forward to 1985. The Home State Savings crisis drives Ohio's Ohio Deposit Guarantee Fund under. Fund members, to remain open, must become FDIC insured.

"Our institution was accepted by FDIC in a matter of a few days because we were financially very strong and conservatively managed," says Robert W. Sawtell, co-CEO.

The decision was made to convert the thrift into a bank, says Sawtell, and it was decided that a new name was in order.

"We looked back to the original 1886 name of our Brown County office, Safety Building and Loan, and we thought about the persisting virtue of operating in a safe and sound manner," Sawtell recalls, "We chose the name 'First Safety Bank,' and we also adopted a new slogan: 'Where the safety of your savings is always first'. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.