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August 15, 2024

CT bank granted approval to change its name

Contributed A flag showing the new Ives Bank logo.
By Greg Bordonaro

The Savings Bank of Danbury is a step closer to a major rebranding effort. 

The state Department of Banking has approved the bank’s plan to change its name to Ives Bank, in honor of the family that originally hosted it in their home.

The change is expected to occur later this year, but the bank will remain under the same ownership structure. Its headquarters will also 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.
 

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