Amesbury-based The Provident Bank is rebranding itself as “BankProv” as it plans to grow its nationwide presence.

“The new look and feel reflects the Bank’s commitment to embracing innovation and leveraging technology to deliver a better banking experience for all,” the bank said in its announcement while noting it plans to retain its historic name for legal purposes.

The 200-year-old bank’s statement said the move was partly prompted after it encountered “significant market confusion” as it began to compete in niche markets across the country. The bank launched the rebranding with a new website and mobile app. The move also includes a new color scheme of black, white and magenta because it “subtly broadcast the Bank’s strength and sophistication (black) and its new beginnings (white),” the bank said. “Magenta was chosen as a “pop” of color because it represents power and energy (red) and inward reflection (violet).”

“I am really excited to see our rebranding initiative come to fruition,” CEO Dave Mansfield, said in a statement. “The green, oval-shaped Provident Bank logo served us well for more than 20 years and was a well-recognized symbol in our communities. Now that we have grown into a $1 [billion-asset] commercial bank serving clients both across the nation and worldwide, the timing is right to showcase our growth and transformation by updating our brand. The rebranding process was a collaborative effort, thoughtfully and sometimes painstakingly cultivated by our employees, clients and stakeholders. BankProv is a fusion of our deep banking roots combined with future thinking, so that we may provide an exceptional banking experience for our clients.”

The bank acquired Peoples United Bank’s warehouse lending division in January after raising $102 million in a second-step conversion last fall.