BOSTON Lawrence Savings Bank has hired independent White Rhino Productions to steer its repositioning as RiverBank.
White Rhino's work for the North Andover, Mass., bank includes a new logo and retail signage, direct response materials and catalogs, as well as print advertising that touts the name change.
"A new name does not mean new ownership, but generates new branding and positioning for the bank," said RiverBank executive vice president Steve Jones. "The new name represents the bank's friendly and improved way of conducting business, making customers' banking experiences smoother, easier and more enjoyable."
According to Dan Greenwald, creative director at Burlington, Mass.-based White Rhino, "RiverBank's new identity reflects a modern, upbeat and credible image for the bank. At the same time, the bank remembers its roots with the iconic representation of the historic Ayer Mill Clock Tower in Lawrence [adorning most marketing materials]."
The bank was founded in 1868 and operates seven locations in Massachusetts and New Hampshire.
The budget for White Rhino was not disclosed but is likely in the mid six figures.
The local banking scene has been extremely volatile of late, with small players like RiverBank seeking to remain competitive against larger players like Citizens Bankcorp and Sovereign Bank, both of which recently fashioned new campaigns.