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Banking & Finance
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Skowhegan Savings Bank reports 'historic' performance in 2021
May 10, 2022Among the results reported were loan originations of $163.1 million, a record high for the 152-year-old mutual savings bank.
May 10, 2022
Insurance firm owned by Maine's largest credit union names its first CEO
May 4, 2022Atlantic Federal Credit Union became part owner of an insurance agency 20 year ago. Now, as full owner, the credit union has named a longtime executive as president and CEO of the insurance business.
May 4, 2022
Bangor Savings to expand farther in New Hampshire
May 2, 2022Bangor Savings Bank plans to expand further into New Hampshire with a new branch location in Manchester.
May 2, 2022
Camden National parent reports Q1 earnings uptick, but decrease from a year ago
April 26, 2022The bank holding company reported that net income rose 2% from the last quarter of 2021. The year-over-year decline was expected, CEO Gregory Dufour said.
April 26, 2022
FAME will back $5M loan to allow sale of a South Portland trailer company
April 26, 2022Atlantic Great Dane's president is buying the company, and plans to keep it in Maine, preserving up to 27 jobs.
April 26, 2022
Brunswick fintech startup raises $2M to fund growth
Updated: April 26, 2022Circa, led by CEO and co-founder Leslie Hyman, raised the funds from a combination of individual investors, angel investors and venture capital firms.
Updated: April 26, 2022
$13M investment will fund over two dozen solar-home builds in Wiscasset, with more to come
April 21, 2022The developer and investor see plenty of opportunity along Maine’s midcoast, with housing shortages and rising prices in southern Maine. GenX Capital Partners and its investors are looking to deploy as much as $50 million in the region.
April 21, 2022
First National Bank parent posts 8.8% jump in Q1 earnings
April 21, 2022Loan growth at the Damariscotta-based parent company of First National Bank was mainly in commercial real estate and construction, as the bank wound down two pandemic-related loan programs.
April 21, 2022
Maine home foreclosures just soared 23%, rank high in the US — but it could be worse
Updated: April 22, 2022In addition to growing over the previous quarter, the number of foreclosures in Maine was up 81% from a year ago. They've been rapidly increasing since the end of a federal moratorium last year.
Updated: April 22, 2022
Earnings for Katahdin Trust holding company down 25% from a year ago
April 20, 2022The drop was anticipated, Katahdin said on Tuesday. Decreases in interest and fee income resulted from reductions in Paycheck Protection Program loans.
April 20, 2022
10 entrepreneurs to pitch their new products at Bangor showcase event
April 19, 2022Next week's event will feature products ranging from ghee to online marketplaces, and offers benefits such as marketing and networking opportunities, organizers of Maine Innovation Nights say.
April 19, 2022
Thomas College students take top honors in international business contest
April 12, 2022This year's showing extends the Waterville school's winning streak in an annual series of competitions organized by the Society for the Advancement of Management.
April 12, 2022
As customers switch to apps, banks struggle to maintain customer service edge
April 11, 2022A new study by J.D. Power shows that, while nearly half of customers have switched to banking apps, banks are struggling with the "twin forces" of digital transformation and rising inflation.
April 11, 2022
Downeast pitch-off prize goes to a spicy business in Winter Harbor
April 7, 2022"Mutha" made a special blend of barbecue dry-rub spices. “All of a sudden, it hit me like a runaway lobstah trap,” the founder of Bub 'n Mutha's says. “We can’t keep this discovery a secret.”
April 7, 2022
Brunswick rocket-maker exceeds crowdfunding goal, continues search for Downeast site
April 6, 2022Twenty-three percent of investors were from Maine. The campaign allows the company to immediately begin work on fuselage design and a telemetry system.
April 6, 2022
People's United Bank, including 17 Maine branches, acquired by M&T Bank
Updated: April 4, 2022The combined company employs more than 22,000 people and has a network of over 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C.
Updated: April 4, 2022
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