Flagship Name To Change This Month
As of July 19, the Flagship Bank & Trust name will disappear. The Worcester bank is being rebranded under the name of its parent company, People's United Bank.
Connecticut-based People's United is unifying the operating systems of Flagship and several other New England bank brands that it acquired when it bought Vermont's Chittenden Bank in 2008. Once the systems are compatible, the bank name will also be unified.
Timothy P. Crimmins, Massachusetts president for the bank, said the rebranding will let customers of all the People's United subsidiaries know that they can bank at any of the 300 branches under the People's umbrella.
"The reason for that is to really maximize branding effectiveness," Crimmins said. "When people are traveling throughout New England they'll now see the People's United name."
In April, People's took control of Lowell-based Butler Bank and Marlborough Co-operative Bank after they failed and were shut down by the state Division of Banks.
Besides Flagship and Chittenden, People's United is also the parent of Maine Bank & Trust, Merrill Bank, Ocean Bank, and The Bank of Western Massachusetts.
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