There was a time, not so very long ago, when even the suggestion of changing the name of a highly regarded community bank was considered corporate heresy if not out and out stupidity. Long-serving institutions, like the Talbot Bank and Centreville National Bank, counted on those local geographic designations to demonstrate their commitment to the communities they served. And for decades, or, in some cases, centuries, this kind of local branding was a primary strategy for success and stability.
But, that was then. Now, in a climate of significantly more government regulations, fierce regional competition, and the need for proper scale, all corporations, large and small, have had to shed their hyper-local brand names for broader titles that signal growth potential.
In Scott Beatty’s second interview with the Spy, the Shore Bancshares‘ CEO talks about some of those challenges and his company’s decision to combine CNB and Talbot Banks into one regional bank to be known as Shore United Bank. He also talks about the new bank’s vision of maintaining a dominant position in the Mid-Shore banking world as well as investing in new markets to find the right scale for Shore United Bank. He also notes the challenges of finding a new generation of professional bankers.
This video is approximately six minutes in length