Camden National Bank

A number of banks across Maine, looking to right-size their footprint and leverage market opportunities, have been retooling their real estate portfolios, with properties bought and sold along with renovations and new construction.

President and CEO Simon Griffiths said the company's balance sheet "remains exceptionally strong and credit metrics continue to trend favorably."

Proceeds from the sales are invested into upgrades at other locations. In Portland, the bank had maxxed out its downtown facility, which resulted in a lease in the Old Port.

Camden National Bank is the second-largest Maine-based bank, based on assets of $5.7 billion.

A roundup of new hires, promotions and achievements at businesses, nonprofits, health care institutions and professional services firms in Maine.

A roundup of new hires, promotions and achievements at businesses, nonprofits, health care institutions and professional services firms in Maine.

Citing slowing growth in the first half of the year, central bankers lowered interest rates by a quarter of percentage point and signaled the possibility of two more cuts this year.

Marie McCarthy, a retired L.L.Bean executive, will become chair of the board after Lawrence Sterrs retires on Dec. 31.

The CEO offered a bullish outlook for "continued net interest margin expansion and earnings growth" in the second half.

A number of Maine-based banks have been expanding into New Hampshire in recent years. The goal is to broaden markets and serve existing New Hampshire customers, while remaining close to the Maine base.