Savings Bank of Danbury is changing its name in honor of the family that originally hosted it in their home.
Under the rebranding, Savings Bank of Danbury will become Ives Bank. The change will occur later this year.
The bank is under the same ownership and its headquarters will remain in Danbury.
Savings Bank of Danbury has 16 branch offices in Bethel, Brookfield, Danbury, New Fairfield, New Milford, Newtown, Norwalk, Southbury, Stamford and Waterbury. Its assets total more than $1.6 billion.
The Ives family is well-known in the region. When the bank was founded in June 1849, it operated from the home of Charles Ives, with George W. Ives serving as the bank’s secretary-treasurer.
Generations of Ives family members have lived in the Ives home, which is now owned by the Danbury Museum and Historical Society. George Ives’ grandson, Charles Ives, a noted modernist composer, was born at the home 1874.
“We have always valued the connection between our bank and the Ives name,” the bank’s President & CEO Martin G. Morgado said. “… Our new name will acknowledge our bank’s and region’s rich history, while also positioning us for future growth.”
