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More Than a Logo
The Lebanon, Tennessee-based restaurant chain Cracker Barrel Old Country Store recently reversed course on plans to simplify its logo that would have dropped its “Old Timer” image and barrel.
Customers felt like the logo refresh had pulled too far away from the company’s roots; they also objected to plans for more contemporary décor in Cracker Barrel’s restaurants. Sales took a hit: Bloomberg reported on Wednesday that transactions slowed at the restaurant chain starting on Aug. 19, when the changes were announced. The company had embarked on the rebrand to attract younger customers and mitigate persistent declines in traffic.
Those challenges aren’t unique to Cracker Barrel. Banks are seeking to stand out in their markets and attract clients, too. Often, that can mean changing the bank’s name. After all, out of more than 4,400 chartered banks, 192 incorporate First National Bank in their names, according to Federal Deposit Insurance Corp. data. Almost 100 are a variation of First State Bank.
Fewer than 20 banks overhauled their names in 2025 through June 30, according to Bank Director’s Will Hubbs, director of data intelligence. Considering the blowback that Cracker Barrel faced, it could be easy to see why bank leaders would be reluctant to risk a negative reaction.
But a brand is more than a logo or a name. It’s a perception or feeling — rather than a tangible product or design — that differentiates a company’s position in the market. That’s particularly important for banks, but too many play it safe, says Kathrynn Cavanaugh, a marketing consultant who specializes in brand strategy. “Everybody's selling a checking account. Everybody has a savings account,” she says. “In the banking space, your brand is critical because it is your point of differentiation, of your value proposition in the market.”
In 2023, Cavanaugh worked with $1.3 billion Sovereign Bank on its rebrand from First National Bank and Trust Co. The Shawnee, Oklahoma-based Sovereign Bancorp is owned by the Citizen Potawatomi Nation, and its new logo incorporated an “S” that’s shaped like the Potawatomi medicine wheel.
It’s a simple visual element that reflects the bank’s identity with its owners, employees and its community — and that starts with bank leaders who understand their organization’s values, she says. “Knowing who you are as a brand … is crucial to your differentiation.”
• Emily McCormick, vice president of editorial & research for Bank Director
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