August 15, 2013
Regulators OK Skowhegan Savings acquisitions
State regulators have approved Skowhegan Savings Bank’s purchase of five Camden National Bank branches in Franklin County.
The Bangor Daily News said Skowhegan Savings now expects the nearly $3.6 million sale to close in early October. The purchase price includes the real estate, fixed assets and a 3.5% premium on branch deposits at the five banks.
The acquisitions are the bank’s first venture into Franklin County, adding to its 10 branches covering Somerset, Kennebec and Penobscot counties. The bank announced its acquisition plans in late May.
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