Hyde Park Savings Bank plans to rebrand itself next month, under the new moniker Blue Hills Bank.
The name change is part of a re-branding process that has been underway for more than a year, according to a statement.
"We set out to be different – different from what customers had learned to expect from Hyde Park Savings Bank," said Bank President and CEO William Parent. "We took the best and brightest of that bank’s workforce, we added new members to our leadership team, and together, we have transformed our bank."
He added: "In many ways, our name has been a misnomer. Yes, we proudly serve Hyde Park, but we meet the banking needs of several communities, stretching across the Blue Hills from Boston to Brookline to Dedham and on to Norwood. We wanted a name that reflected all of our market today, as well as areas we intend to grow in the future."
The majority of branches will be remodeled or substantially upgraded. The bank completed the construction of its newest branch on Truman Highway in March; its River Street branch in Hyde Park has been remodeled, and the Norwood and Dedham branch remodeling will be completed in October. The West Roxbury branch is scheduled for renovations beginning in November. All told, close to $6 million has been dedicated to improving bank branches, the bank said in a statement.
A new leadership team has been recruited and is leading key initiatives. Parent, who joined the bank in July 2010, has recruited seven, including:
Chief Retail Officer – Scott Thimann
Chief Lending Officer – Tom O’Leary
Chief Marketing Officer – Karen Marryat
Chief Credit Officer – Tom Sommerfield
Chief Information Officer – Carol Dubé
Treasurer – Graham Waiting
Enterprise Risk Officer – Tom Holbik
Blue Hills Bank has also created the Blue Hills Bank Charitable Foundation to support local not-for-profit organizations that work to expand affordable housing and community development; or whose mission involves human services, education, or the arts. The bank will make annual grants equaling 5 percent of pretax annual profits. This year, some $500,000 in grants will be awarded, a substantial increase over the $32,000 total awarded in 2009.
