Farmers State Bank of Hartland announces name change
Farmers State Bank of Hartland announced Monday that it is changing its name to Arcadian Bank. The name change and brand refresh reflect the bank’s inclusivity beyond just agriculture and its unique approach to community banking. The new name was effective immediately, according to a press release.
“The name change allows us to emphasize our wide-ranging services that support the entire community and reflect our bank’s progressive culture,” CEO Daniel Otten said. “We are a unique community bank, and our name should reflect that. But we are still the same community-focused bank you have come to depend on for over 100 years. We are excited to open this next chapter into our bank’s bright future.”
The new name — Arcadian Bank — is a tie back to the bank’s agricultural roots meaning idyllically pastoral, harmony with nature, rural, rustic, simple and untroubled by worry or fear.
“We fully embrace and celebrate our rural history, but at the same time we must continue adapting to provide cutting edge financial services to our rural communities,” said President and CFO Mark Heinemann. “With the new name, we are envisioning a simpler way to do banking, one that is based on relationships and technology.”
Over the last 15 years the bank has grown from $35 million to $170 million in asset size and in 2014 became community-owned through a holding company formed by 78 local investors. The name change is part of the bank’s reinvigorated local focus. The tagline and core values remain the same: “Community owned. Community focused.”
Arcadian Bank is a full-service community bank with locations in Hartland, Albert Lea and Freeborn.