Oct. 1, 2019 – Springfield, IL -- Illinois National Bank, headquartered in Springfield, Ill., officially changed its name to INB on Oct. 1. The change comes shortly after the bank marked 20 years in business.
“The name Illinois National Bank was important to us when we formed the bank in 1999 because many of us were from the original Illinois National Bank that was founded in the 1800s,” explains INB President and CEO Sarah Phalen. “The name allowed those of us who had worked for Illinois National Bank to show our excitement about bringing community banking back to Central Illinois. We knew taking the name required us to work extra hard to live up to the reputation of community banking at its best. And our commitment doesn’t change even though our name officially does.”
In 1999, the new INB also brought something most people didn’t expect from community banks: state of the art technology. Phalen says, “We brought technology that rivaled that of large, nation-wide banks at the time.”
Since 1999, INB has grown from $24.7 million in assets to over $1 billion in assets and expanded into markets outside of Illinois.
“With expansion, the name ‘Illinois National Bank’ just isn’t the right fit everywhere. And since so many people know us as ‘INB,’ we’ve chosen to go with the familiar acronym.” As a matter of fact, Google statistics show four times as many people search on “INB” than “Illinois National Bank.”
Phalen continues, “In a way, we’re really just making the name ‘INB’ official.” She adds, “Along with the name change comes INB’s new web address, www.inb.com. That’s something our employees are especially thrilled about as it means they can more easily share our web address and their own email addresses.”
INB, National Association, is a locally owned bank based in Springfield, Ill. operating 13 branches and a remittance processing center in Central Illinois, as well as a loan production office in Chesterfield, MO. INB provides a full range of banking services to individuals, businesses, and municipalities, including commercial and retail banking, mortgage loans, trust and brokerage, and cash management. For more information, visit www.inb.com.