Nittany Bank will lose its name come next year.
The former locally owned company will have its name changed by parent company National Penn Bancshares, and all branches will be known as National Penn by spring 2013.
The name change is standard practice for the banking corporation, said Catharine Bower, National Penn senior vice president of corporate communications. National Penn absorbed Nittany Bank in January 2006.
She said the parent company eases its subsidiaries into the change over time, and it is a long-term process saying they keep bank branches names as long as is “advisable.”
“We were respectful of the original name and what it represented,” Bower said. “The culture will remain at Nittany Bank.”
Nittany Bank President Dave Richards said his company approached the parent company to change the name, feeling it was time.
Richards said there will be no adverse effects for customers. In fact, the change comes with more perks including a call center that is open until 9 p.m., access to new technologies and advertising under the corporate brand, he said.
“It will be a great change,” he said. “It’s trying to be proactive rather than reactive.”
Richards thinks that the customers won’t care about the name change because they will still be served by the same employees as always, and the service will remain unchanged. He added that they will be hiring a few more workers, and it will clear up some confusion for customers who see National Penn on some documents and Nittany Bank on others.
National Penn operates 119 branch offices in Pennsylvania and one in Maryland. Nittany Bank was one of the last two name holdouts, along with KNBT, a division which will also now be named under the parent company banner.
Nittany Bank began operations in 1998 and has five locations throughout Centre County.
Matt Morgan can be reached at 235-3928. Follow him on Twitter @MetroMattMorgan.