Lincoln National Bank Weighs Changing Name

The president of Lincoln National Bank in Encino said the bank might change its name because the public still confuses it with scandal-ridden Lincoln Savings & Loan.

Adding to the confusion is that Lincoln National’s president, John J. Keating, has the same last name as Charles H. Keating Jr., the head of Lincoln Savings’ parent, Phoenix-based American Continental Corp. Lincoln Savings is based in Irvine.

“We’ll probably make a decision within the next month” on changing the name, said John Keating. “Personally, I don’t think we have much of a choice.”

He said the confusion has probably knocked down the price of Lincoln National’s stock by $1 or $2 a share (it closed Monday at $17 a share), and is probably costing the bank some business, although he acknowledged “it’s difficult to quantify.”

Lincoln National’s parent, Lincoln Bancorp, has about $440 million in assets and has been one of the most profitable bank companies in the San Fernando Valley for the past several quarters.