Norway Savings Bank, a regional bank with more than 20 branches in Oxford, Cumberland, York and Sagadahoc counties, will start construction on their newest Standish branch in late October of this year.
The branch will be located adjacent to the Colonial Marketplace on Route 25.
“Standish is a great community, and we look forward to becoming part of that community,” said Norway Savings Bank CEO Robert Harmon, who grew up in Standish and attended area schools.
To combat possible traffic problems, Route 25 will be expanded and a left hand turning lane will be added. The exit will be located directly across from the Colonial Marketplace entrance and a new traffic light will be added to the existing light.
Norway Savings Bank, according to Norway town records, was founded in February of 1866 when 14 local men signed a charter for the formation of the bank. In March of the same year the corporation was formed, by-laws were adopted and 52 incorporators as well as 7 trustees were elected.
A bank building was built in 1886 but was destroyed by fire in 1894. The bank then built a brick structure that was used as headquarters until 1957 when Norway Savings bank moved to their current location, 261 Main Street in Norway.
In 1976 expansion plans were made including the installation of a drive-up window, and a large parking lot expansion.
The bank’s first branch outside of the town of Norway was opened on Portland Street in Bridgton in 1969. The success of the branch prompted Norway Savings to open several other locations in the early 1970s and ’80s including a Fryeburg, Naples and Windham location.
The Standish branch will be the 21st branch to open. Construction is set to begin in late October.
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