The American National Bank changes charter, name
The American National Bank of Beaver Dam has converted from a federally chartered bank to a state chartered bank and will change its name to American Bank, according to the Wisconsin Department of Financial Institutions.
“Last fall, The American National Bank made the decision to transition from a federal charter to a state charter, and filed an application with the Wisconsin Department of Financial Institutions to do so.
Like many other community banks in Wisconsin and across the country, we believe that a state charter is a better fit for our business and mission as an independent, locally owned community bank,” American Bank CEO John Oathout said in a statement released this week.
“Other than changing our name to American Bank, there will be no noticeable impact to our customers. As it has been for more than 125 years, our core focus remains on providing excellent service to our community, and we look forward to being a dedicated and involved local partner for many years to come,” he said.
The change was effective April 3.