Lady Antebellum, the trio who have topped the US country album charts five times, are to change their name to Lady A due to the slavery connotations held by the word “antebellum”.

The group said on Instagram that they were “regretful and embarrassed to say that we did not take into account the associations that weigh down this word referring to the period of history before the civil war, which includes slavery”. They added that they were “making the necessary changes to practice antiracism” and donating to Equal Justice Initiative.

The band, which formed in 2006 in Nashville, said: “When we set out together almost 14 years ago, we named our band after the southern ‘antebellum’ style home where we took our first photos. As musicians, it reminded us of all the music born in the south that influenced us … southern rock, blues, R&B, gospel and of course country.”

Their biggest hit was 2009’s Need You Now, which reached No 2 in the Billboard Hot 100 and went nine times platinum in the US; it is also their only UK hit, reaching No 15. They have won five Grammy awards from 10 nominations.

Meanwhile, the record label One Little Indian, whose most famous signing is Björk, has changed its name to One Little Independent. The label’s logo will also change.

Label founder Derek Birkett said he “apologise[d] unreservedly to anyone that has been offended” by the name. Birkett made the change following a letter from someone who detailed its offensive connotations: “I felt equally appalled and grateful to them,” he said, adding: “I was naive enough at the time of founding my label to think the name and logo was reflective of my respect and appreciation of the culture” of indigenous Americans.

He denied its name was inspired by a lyric from the song Ten Little Indians, which had been used in minstrel shows in the US.