An anchor of the business community has a new name, but things will not change for its customers. Huron National Bank is now Huron State Bank, after the local bank received final approval to switch from a national charter to a state charter bank. The bank’s new charter became effective Sept. 25.
“Switching to a state charter bank makes total sense for us. As a state bank we feel our regulators will be more attuned to the complexities and cycles that occur in our local economy, especially in our commercial business sector. Their expertise and attention to Michigan community banking issues will be extremely beneficial going forward,” said president and CEO Erik Nadolsky.
“Another benefit will be a significant reduction in regulatory and examination fees resulting in the potential for increased earnings for the bank.”
Switching charters will have no impact on customer account activity, Nadolsky said. The only required change will be the name of the bank.
“The word ‘national’ must be omitted from our existing name. Therefore, our new name will simply be Huron State Bank. We determined it was important to retain ‘Huron’ because it has been our name since we established in 1980,” Nadolsky said.
Over the next few months the bank will be changing its signage to reflect the new name change.
“For existing customers, nothing changes. Customers will be able to use up any checks or other documents that still have Huron National Bank printed on them,” Nadolsky added.
The bank intends to use the name change as an opportunity to refresh the look and feel of the bank logo, website and all of its electronic banking channels.
“Keep an eye out for these exciting changes to begin,” Nadolsky said.
Huron State Bank will continue to be a vibrant community bank serving the financial needs of those living throughout the Presque Isle County area from its only location at 200 East Erie St. in Rogers City. The bank is a member of Federal Deposit Insurance Corp. and is an equal housing lender.