It seems that Principal Life Insurance Company, headquartered in Des Moines, Iowa, has never been very happy with what SLO’s American Principle Bank chose for its name.

While it may be hard to imagine that someone would confuse a national insurance company in the Midwest with a local bank headquartered in San Luis Obispo, pressure from Principle Insurance has "inspired" a new name: American Perspective Bank.

Although shareholders have approved the new name, insiders report that it will appear gradually over the next several months.