UBJ BANKING
The Name Game
SCBT, First Federal become South State Bank after yearlong process LEIGH SAVAGE | CONTRIBUTOR
What’s in a name? For South State Bank, the new name – effective officially on June 30 – represents more than a year of research, brainstorming and collaboration focused on finding a label that conveys the bank’s history, longevity and Southern heritage. After South Carolina Bank and Trust (SCBT) and First Federal merged in February 2013, both banks recognized the need for a new name. Both 80-yearold companies had already been researching new names independently, said Donna Pullen, SCBT senior vice president of media relations. After the merger, the company operated multiple brands, including North Carolina Bank and Trust, The Savannah Bank, and Community Bank and Trust. A primary goal was to find a name that united all five brands. “We knew we needed to select a new name and the merger was the catalyst to speed up the process,” said John Windley, SCBT president. “Our two marketing departments worked together to select a new name that accurately reflected the rich histories of both organizations and represented our company’s future.” The process began with a marathon meeting in April 2013, with Kellee McGahey, SCBT director of corporate communications and public relations,
and Missy Power, SCBT senior vice president for marketing, brainstorming names. After getting some guidance from company leaders, “we brainstormed words and word parts for an entire day, and we ended up with 357 names,” McGahey said. Then the narrowing process began, ultimately winnowing the list to five top contenders by midsummer. Next, the company sought the assistance of Addison Whitney, a Charlotte-based branding agency, to finalize the best choice. They began the federal trademark process for all five names, and did extensive research to ensure they found a unique name with no potential conflicts or problems. Surveys allowed the company to get feedback from current and potential clients to see how the community responded to different words. “We also brought in employees from our entire footprint to look at names and offer feedback about how they resonate,” McGahey said. South State Bank was approved for a federal trademark in January 2014, and a huge event was planned for Feb. 17 to announce the name to the company’s 2,200 employees – the first and only time the entire company has gathered together. The new name was a hit with employees. Mike Coggin, Upstate regional
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UPSTATE BUSINESS JOURNAL
June 27, 2014
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president, said he loved working for S.C. Bank and Trust, but he has already grown to love the name South State Bank. “It shows the importance of South Carolina in this equation,” he said. “And though the name is a big deal to us, the overwhelming response from customers has been that they want the same service and the same banker.” The February event and the rollout of the name was handled well and brought the team together, Coggin said. “It was gratifying to see employees get excited and get behind the change. It created camaraderie and team spirit.” Jimmy Lindsey, Foothills regional president, said his team arrived by bus holding signs with question marks, and once the name was announced, they wrote “South State” and held the signs amid the cheering. “There were clappers and horns and songs – I felt like I was at a Clemson basketball game,” he said. As the former signs are removed and the new South State Bank signs go up June 30, Lindsey said his customers are excited about the change and have been pleased with how the company
got the message out. “It’s neat to hear the new name out there in the community,” he said. “But our customers like that nothing else is changing.”
TIMELINE 2012 – SCBT and First Federal consider name changes independently FEBRUARY 2013 – SCBT and First Federal merge APRIL 2013 – Name change meeting; 357 names generated MIDSUMMER 2013 – Names narrowed to top five EARLY FALL 2013 – Research (trademarks, customer and public feedback) with assistance of branding agency Addison Whitney OCTOBER 2013 – Final decision made JANUARY 2014 – Federal trademark approval FEB. 17, 2014 – Event in Columbia to announce name to employees JUNE 30, 2014 – Name officially changes; South State Bank signs unveiled at all locations