Bangor Savings Bank has reported its 13th year of consecutive growth, attributing its success to strong customer service and an ability to adapt to new technologies, regulations and trends.
The Bangor-based bank announced Monday that it earned a net income of $20.49 million for the 2014 fiscal year, a 8.25% increase over 2013. It said it made $681.85 million in loans last year, contributing to a five-year cumulative total of $3.37 billion.
“Last year, we provided more than $249 million in home loans, $175 million in consumer loans, and $257 million in business loans,” Jim Conlon, president and CEO of the bank, said in a prepared statement. “We want to help as many Mainers as we can realize their dreams of owning a home or starting a small business.”
Bangor Savings Bank opened 27,000 new accounts last year, with 3,000 of those for small businesses. The bank also launched a mobile app for customers.
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