After more than 85 years in operation, Wauwatosa Savings Bank plans to change its name and is asking its customers to vote on the new name.
"A name change is necessary to better reflect what we are now, and what we plan to be in the future," said Doug Gordon, president and chief executive officer of Wauwatosa Savings.
Two years ago, Wauwatosa Savings was a traditional savings and loan institution, serving primarily as a mortgage lender and CD acquirer.
Within the last two years, the bank has added consumer loan products, expanded its mortgage offerings, entered the realm of business banking and expanded its deposit products with the iMoney Market and suite of checking accounts.
With the changes and additions, Wauwatosa Savings more closely resembles a full-service bank rather than a savings bank, Gordon said.
The bank added three new branches last year.
"As we continue to expand geographically to other communities, ‘Wauwatosa’ does not clearly define our intentions to be a community bank in all the communities we serve," Gordon said. "With the potential for us to expand further in the state and across state borders, the ‘Wauwatosa’ name does not define us, nor does it help us gain acceptance in a new community."
Between today and Feb. 29, Wauwatosa Savings invites its customers and communities to visit any of the banks eight locations to complete an opinion ballot for Wauwatosa Savings’ new name. Participants also will be eligible for prizes.
The bank is asking its customers to vote on three new name options: Granite Bank, Security First Bank and WaterStone Bank. The bank also is accepting write-in ideas.
Established in 1921, Wauwatosa Savings Bank has offices Wauwatosa, Franklin/Hales Corners, Germantown/Menomonee Falls, Oak Creek, Oconomowoc, Pewaukee, Waukesha and West Allis.
