First National Bank of Buffalo, Sheridan and Gillette will soon change its name to First Northern Bank, with branches in each community.
The change is scheduled to happen July 1 of this year.
According to a press release provided by the bank, First National Bank has been nationally-chartered since its inception in 1885, but will now have a state charter.
The bank’s primary regulator will become the Wyoming State Bank Commissioner, rather than the Office of the Comptroller of the Currency, a bureau of the United States Treasury in Washington D.C. The change will require the bank to remove the word “National” from its name. The bank’s new name will be First Northern Bank of Wyoming.
Scott McBride, President of First National Bank, said there will be substantial cost savings because of the change, and allow for greater flexibility to operate the bank in the best interest of the market and their customers.
McBride said the bank's new name reflects its original history. It was the first state or nationally chartered bank in Wyoming, and was the first bank north of the Platte River, which is why they chose First Northern Bank of Wyoming.