Camp Hill-based bankers bank ACBB changes name to reflect expansion
The acronym stays the same, but the name has changed.
The former Atlantic Central Bankers Bank has changed its name to Atlantic Community Bankers Bank to reflect the bank’s expansion into the New England area, President and CEO Jon Evans said.
The corporate acronym for the Camp Hill company remains ACBB. The name change took place Aug. 5.
The bank has expanded into New England since 2012 and wanted to make sure the name better reflected the market area, Evans said. He added it’s also a further indicator of the bank’s sole business, which is helping community banks succeed.
“It’s more appropriate for the overall territory,” Evans said. “And since that’s who we provide services to — community banks — we thought this fit better.”
The bank is one of 16 licensed bankers banks in the country, Evans said. It provides services to about 350 shareholder community banks, who use ACBB as a type of contractor for services they likely couldn’t provide on their own.
About one-third of ACBB’s shareholder banks are from Pennsylvania, Evans said.
Community banks are classified as those with less than $10 billion in assets, Evans said, and ACBB specializes in helping banks with under $1 billion in assets. As a banker’s bank, ACBB does not do business with the public; it can provide services only to community banks. It opened in 1983 as Pennsylvania Independent Bank and changed its name to Atlantic Central Bankers Bank in 1992.