Bangor Savings Bank to close four branches
Bangor Savings Bank says it will consolidate four of its branch locations by the end of next June.
All of the branches that will close — Howland, Farmington-Mt. Blue, Hartland and East Millinocket — are within 12 miles of other branches, the Bangor Daily News reported. The bank expects the consolidations, subject to regulatory approvals, will begin as early as March 25.
Susan Snowden, executive vice president and chief consumer officer, said in a release that the bank has seen a steady migration toward alternative banking channels and decreased activity at some of its branches.
Employees of the four branches will be given comparable positions at other locations, Snowden said.
In October, Bangor Savings Bank announced plans to invest $10 million in infrastructure improvements in the greater Portland area, including the relocation of its Fore Street branch office to a former Northeast Bank building on Middle Street.
The bank has 57 branches and about 730 employees.
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