Bank Seeks to Widen Base Beyond Latinos - Security One Changing Name, Leaders - Washington DC

Founded in 2006 by some of the Washington area’s most prominent Hispanic business leaders, Security One Bank of Baileys Crossroads sought to carve out a niche serving the fast-growing Latino community.

But the bank struggled to grow in the midst of the housing downturn and weakening economy, banking analysts said. Now, Security One, which has only one branch, plans to broaden its base beyond the Hispanic market with a new management team, new investors and a new name.

Security One is being renamed John Marshall Bank, after the fourth chief justice of the U.S. Supreme Court who grew up in what is now Fauquier County. The bank’s new chief executive, John Maxwell, said he chose the name to help the bank sound more local and community-oriented.”*

*From: http://www.washingtonpost.com
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