Home Loan Investment Bank is changing its name to Shoreham Bank to better reflect their expansion of financial products and services as well as the company’s deep roots in Rhode Island.

The name change will take effect March 15th, 2024.

Founded in 1959 by John M. Murphy as a community mortgage lender, the bank has grown into a full-service bank serving individuals and businesses with retail

banking products as well as home, auto and business loans. It operates a statewide branch network and employs 110 professionals.

According to Brian Murphy, chairman and chief executive officer of Shoreham Bank, the transition to a new name and brand identity was made with great consideration. “It is our hope that this new name will better reflect the breadth of services and products we currently offer to our valued customers and streamline the totality of financial services and business lines offered under one uniquely

Rhode Island name.” He continued, “It’s important to underscore that our commitment to great customer service, financial guidance and knowledgeable advice will remain unchanged and unwavering.”

The new company logo, which may be found here shoreham.bank, draws its inspiration from Rhode Island’s connection to the ocean and the state’s dramatic coastline and in particular, Block Island and the South East Lighthouse.

Mayor Frank Picozzi, attending the event said, “As the Mayor of Warwick, a city that has 39 miles of beautiful coastline, the new name and logo really highlights the company’s commitment to the people of Rhode Island and everything the state has to offer. With more than 50 years of service in the Ocean State and having its headquarters right here in Warwick, I am excited to see what else the future holds for Shoreham Bank.”

"I congratulate the Murphy family and bank executives on 60 years in business in the Rhode Island banking industry and wish you continued success as you reimagine this community financial services institution to better reflect your Rhode Island base of customers and expanded product line,” said Speaker of the House K. Joseph Shekarchi.

Warwick Senator LaMountain added, “For decades, Home Loan Investment Bank has helped countless Rhode Islanders realize the dream of home ownership. It has

also been a valued employer and a model citizen here in Warwick for many years.

Over time, the mission of this institution has grown to other financial and lending services, but the core values have remained. In the institution’s new chapter as Shoreham Bank, I know its tradition of outstanding service will continue.”