Standard Federal Becomes 'LaSalle' Next Month
GRAND RAPIDS — All Standard Federal Bank branches in Michigan and Indiana will change their moniker to LaSalle Bank Midwest on Sept. 12.
Troy-based Standard Federal and Chicago-based LaSalle Bank are indirect subsidiaries of Netherlands-based ABN AMRO, one of the world’s largest banks, with more than 3,400 locations in more than 60 countries. LaSalle Bank Corp., a subsidiary of ABN AMRO, is the holding company for both banks.
Both banks have been sporting the shield-shaped logo and green and gold corporate colors of parent ABN AMRO since October 2003. ABM AMRO purchased Standard Federal in 1997.
“We will commence a significant campaign to let everybody know about the name change sometime in mid- to late-August and it will continue through September and October,” said Dan Terpsma, Standard Federal’s group senior vice president for the West Michigan region.
“There’s nothing changing in systems here; there’s no impact on customers,” Terpsma pointed out. “I know oftentimes people equate a name change with systems change, but there is no systems change because we’re already on all the same systems as LaSalle Bank. This is totally just a brand change. All the same people and all the same systems, just a different brand.”
According to Terpsma, retail customers can continue using their pre-printed Standard Federal checks and ATM/debit cards. Checks with the LaSalle Bank Brand will be issued with new orders, and new cards will be issued upon the expiration of current cards.
Founded in 1893, Standard Federal presently operates 262 retail branches in Michigan and Indiana and 54 of them are in West Michigan. Standard Federal has roughly $39 billion in assets and $20 billion in deposits and is ranked first among Michigan banks in terms of deposits.
LaSalle Bank operates more than 400 branches in 23 states. It’s one of the largest banks in the Midwest, with about $64 billion in assets and $38 billion in deposits.
The bank announced in February that the Standard Federal name would be retired. Standard Federal CEO and Executive Vice President Mark Hoppe stressed at the time that the move is not a merger, but rather a unifying of brands to leverage LaSalle Bank’s growing brand equity in the U.S. market.