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The Board of Directors of Clyde Savings Bank has announced that the bank will change its name to HomeTrust Bank. Since the bank was organized in the Town of Clyde 77 years ago, the bank�s name has reflected the location of its founding, beginning with Clyde Building and Loan, later as Clyde Savings and Loan, and since 1987 as Clyde Savings Bank. The bank has expanded into new markets and transitioned into a full service community bank. The new HomeTrust Bank name will better reflect the bank�s mission and reaffirm its role as the largest hometown community bank based in Western North Carolina. �We�re proud of our heritage of hometown banking service. We believe the name HomeTrust Bank reflects the values that have guided our growth over the past 77 years, � commented Ed Broadwell, Chairman and CEO. Broadwell continued, �Today, the bank conducts business in numerous communities across Western North Carolina. We have expanded our services to offer a full range of business banking services as well. The name HomeTrust Bank will allow us to more effectively compete across the region as we meet the needs of families and businesses. We have been changing with the times for decades, but our timeless values will never change.� Customers have been informed of the name change in a recently mailed letter. The customer communication clearly states that the name change is not the result of a merger or sale of the bank. �We will continue with our independent mutual charter as we have for 77 years,� Broadwell noted. �Serving our hometown customers in a way that earns their trust will always be our focus as it has been for the past 77 years,� stated Dana Stonestreet, Executive Vice President. �All of our deposits have always been invested right here at home by financing homes and hometown businesses. Our new name, HomeTrust, communicates who we have always been and the bank we have grown to be today,� he added. Peggy Melville, Senior Vice President, who has been with Clyde Savings Bank for 33 years and has seen a lot of change and growth, said, �I am extremely proud of the growth and progress the bank has made including our recently-completed 6,000-square-foot office in Waynesville. Our customers have been putting trust in our name for 77 years. We�ve just made it official.� Over the past few years, the bank has expanded its product offering to include business banking services for locally owned businesses. Additional emphasis is also being placed on the bank�s personal and family banking activities. �We are unveiling an entire new line of consumer banking products designed to meet the banking needs of families and individuals in today�s competitive market,� stated Roger Bower, Director of Retail Banking. Several years ago, Clyde Savings, Shelby Savings, and Tryon Federal joined together to form a unique Hometown Banking Partnership. The partnership title will now become A HomeTrust Banking Partnership, with assets of $720 million and ten offices. For more information on HomeTrust Bank, visit our website at www.hometrustbanking.com.
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