First Security Bank of Kentucky announced last week that, effective immediately, it would change its name to First State Bank Inc.
President and CEO Mike Mercer made the announcement alongside board Chairman Clarence Brewer.
For the past 110 years, First Security Bank has operated in McLean County, and for the last seven years, in Muhlenberg County.
In 1997, First Security Bank of Owensboro opened its doors in Daviess County and has continued opening offices in Kentucky cities such as Bowling Green.
“As our bank has grown, it has increasingly become a problem having bank names so similar,” Mercer said. “The confusion it created with customers and with legal banking issues has motivated our board to consider this name change for a couple of years.”
The bank, formerly known as First Security of Kentucky, is preparing to open its fifth office in February on Scottsville Road in Bowling Green, according to Brewer.
“The successes we have experienced in McLean and Muhlenberg counties have given us an opportunity to expand our hometown banking philosophy to the Bowling Green market,” he said. “By doing so, our board of directors feels that the name confusion with First Security of Owensboro must be addressed. For this reason, coupled with our desire to keep our FSB logo and website, our board decided to change our name to First State Bank Inc.”
Mercer said it is important that customers and communities understand that only the name has changed. The ownership, management and staff are all the same, and FSB customers can still expect the same service. Customers too, he said, will be able to use their current debit cards and checks.
“There is nothing our customers will need to change or worry about with the name change,” he said.
Questions regarding the change should be directed to the FSB office.
FSB operates offices in Central City, Greenville, Calhoun and Livermore. The future Bowling Green office will bring the bank to three counties in Kentucky.
Mercer thanked the staff and board of directors at FSB for facilitating the bank’s success since its founding.