Business

Who’s name will be on the Pavilion? Blue Hills Bank?

Sting playing at the Blue Hills Bank Pavilion?

It could happen. Blue Hills, the small Hyde Park bank with big ambitions, is among the contenders trying to snag the naming rights of Boston’s waterfront amphitheater, according to executives briefed on the matter.

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The arena known for its signature white tent and summer concert series, may be the bank’s ticket to a wider audience.

Blue Hills president William Parent was coy Friday about the possibility of the bank sponsoring the pavilion. “We’re constantly looking at opportunities for branding,” he said.

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Live Nation, which owns the arena, declined to comment.

The chance to name the pavilion came up earlier this summer, when Bank of America, which had been its sponsor, decided against renewing the naming rights contract, which expired at the end of September.

The country’s second-largest bank inherited the pavilion sponsorship from FleetBoston Financial Corp., which it took over in 2004.

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The contract, signed in 1998, paid Live Nation $5 million over 15 years.

Blue Hills, which changed its name from Hyde Park Savings Bank in 2011, has aspirations to grow into a regional player.

It is the state’s 35th-largest retail bank as measured by deposits and has six offices in the Boston area.

This summer, the bank announced that it planned to buy Nantucket Bank’s three branches.

Blue Hills has $890 million in deposits and $1.2 billion in assets.

Bank of America, in comparison, holds $58 billion in deposits in Massachusetts and $1.4 trillion in assets nationwide.

Deirdre Fernandes

Deirdre Fernandes can be reached at deirdre.fernandes@globe.com. Follow her on Twitter @fernandesglobe.
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