Savings Bank of Danbury to become Ives Bank

New brand reflects strong ties to Ives name, positions Bank for continued expansion

DANBURY, Conn. - Hartok -- Savings Bank of Danbury (, a mutual savings bank headquartered in Danbury with 16 locations throughout Connecticut and which has served the region for 175 years, is re-branding and will become Ives Bank.

The new name does not signify any change in ownership or structure. Ives Bank will continue to be a community bank under the same organization that currently exists. This is not a merger or acquisition or other change. All of the Bank's leadership team, employees and locations will remain the same.

The Bank's new name is one that is familiar throughout the region. The Ives name has been an integral part of the history of Savings Bank of Danbury since its founding in 1849. The Charles Ives home, now owned by the Danbury Museum and Historical Society, was the home of several generations of the Ives family.  The Bank first opened for business in June of 1849 in the Ives home and George W. Ives served as the bank's Secretary-Treasurer from 1849 to 1860.  Perhaps the best known of the Ives Family, however, was  George Ives' grandson Charles Ives, a noted modernist composer who was born at the home 1874.  Savings Bank of Danbury has been a key sponsor of the rehabilitation of the original Ives home.

"We have always valued the connection between our Bank and the Ives name," said President & CEO Martin G. Morgado, adding, "The Ives name has long been a part of Savings Bank of Danbury's history. The Bank's first location was in the Ives home in Danbury. Our new name will acknowledge our Bank's and region's rich history, while also positioning us for future growth," he said.  Our internal and external discussions with our Directors, Corporators, team members and the greater community have been very positive about the new name, and we are excited to move forward in this direction."

About Savings Bank of Danbury

Established in 1849 and headquartered at 220 Main Street, Danbury, Savings Bank of Danbury is a mutual savings bank with assets in excess of $1.6 billion.  Savings Bank of Danbury has 16 branch offices in Bethel, Brookfield, Danbury, New Fairfield, New Milford, Newtown, Norwalk, Southbury, Stamford, and Waterbury. Stamford Mortgage Company, a division of Savings Bank of Danbury, has a local office on Summer Street in Stamford.  Savings Bank of Danbury is committed to serving their community.

For more information about Savings Bank of Danbury, visit

Colleen Cimini

Source: PR First

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