Hello,

Yes, go to General Options > Upload Logo and remove the image. Then go to your Settings > General > Site Title, add here the text you want to appear in the logo position. Save changes.
Edit the text style with custom css. Add it into your custom css box located under General Options.
See this example:
-Result screenshot: https://www.clipular.com/c/5139761033641984.png?k=C8pKn3gha5hb1L-3_4-5LmXtEOE
-Custom css used to style:

#logo a {
    color: white !important;
    font-size: 32px;
    padding-top: 15%;
}

Let us know.

Best regards!