June 25, 2013
Bangor Savings grows commercial lending 10.6%
Through its 2013 fiscal year, Bangor Savings Bank reported a record-setting net income of $18.9 million and increased its commercial and small business loan portfolio by 10.6% over 2012.
In its annual report, the bank also showed growth in its total assets, which rose 12.1% over last year to $2.9 billion.
The bank also reported an increase in deposits, which rose by 6.4%, or $136.6 million. That increase was paired with the addition of 27,000 new core deposit accounts, including 2,600 new small business accounts in the last fiscal year.
The bank, which has 720 employees at 57 locations, is the third-largest bank in the state, behind TD Bank and KeyBank.
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