According to the Kansas City Business Journal, Lead Bank is switching their domain name from LeadBankOnline.com to Lead.Bank.
Lead Bank will become one of the first banks to switch their domain from a .com to a .bank.
According to the story:
“Lead Bank will be one of the first banks with a presence in the Kansas City area to make the switch away from “.com” and onto a new “.bank” domain.
On May 14, the new “.bank” domain became available for financial institutions. The domain includes several improved security features, including requiring verification that the entity holds a bank charter. That’s a feature that directly addresses the growing threat of cybercriminals setting up fake bank website pages to entice people into giving up personal information.
Josh Rowland, vice chairman of Lead Bank is quoted as saying”
Rowland said he decided to become a pioneer for the new domain, because it aligned perfectly with a company review of all its digital processes”
Here is some information about the Lead Bank from it’s site:
Throughout its 80-year existence, Lead Bank has maintained a strong tradition of community financial leadership. This dedication inspired the Bank to change its name in June 2010 to Lead Bank. As the name suggests, Lead Bank is committed to thinking ahead, to being responsive to the needs of clients and the many communities it serves. Lead Bank will deliver products and services to consumer and commercial clients that solve problems and enable new opportunities. Starting from its strong, 80-year tradition, Lead Bank will advance the long-term interests of customers and communities with attentive, thoughtful and prudent lending and services. For your financial future, Lead Bank is the smart move.
Because LeadBankOnline.com is a horrible name and the bank was cheap to buy short domain name (.com) on aftermarket.
Here are the financial results for this nothing bank over the past few years (you can confirm via FDIC.gov):
2010: Net Loss of $5,499,000
2011: Net Loss of $5,305,000
2012: Net Loss of $2,385,000
2013: Net Loss of $239,000
2014: Net PROFIT of $405,000
Keep in mind, this is a tiny $125,000,000 asset bank we’re talking about. Not the poster child a new gtld operator is looking for – in other words, an absolute nothing-burger.
Obviously a perfect fit for the bank. Will be a good choice long term.
Here in Quebec, We would need .Bank and .Banque. lol.. If not, Banks would not be allowed to switch their .com.
.com is for anyone.
.Bank is for english people only.
That’s a good point. Many of the nTLDs are English-centric.
What happens when people start sending email’s to contact@leadbank.com it will happen. If they want to get the .bank go for it, but if you don’t own leadbank.com and have that fwd to lead.bank then confusion will exist.
These new gtlds are only good if you own the matching .com to pick up the miscommunication that will happen for the next 10 years.
DonnyM
or ******@lead.bank.com
yup, confusion city.
Within the business world, new gTLDs are good news to the small guys but the best companies will stick to .com. In the end, I believe short names containing only ONE dot will become the norm across the whole name space. Consumers will judge a company by its name, extension, and design of the website.
New gTLDs launched 17 months ago and @KC thinks he knows how big businesses will operate online for decades to come…What about Barclays transitioning to .Barclays and GM launching GeneralMotors.Green? Those are both big companies that have already embraced new gTLDs.
So progress from totally crappy domain to one that is less obviously so.
Quote: “… inspired the Bank to change its name in June 2010 to Lead Bank.”
I am sure they mean lead as in front, take the lead. But I saw it as lead the metal, as in lead balloon.
Lead Balloon Bank. These guys are amazing.