PORTLAND — The Bank of Maine opened its first branch in Portland today, at 2 Canal Plaza.
Two months ago, the company relocated its headquarters to the same building.
Formerly called Savings Bank of Maine, the Portland expansion is an effort by the bank’s executives to expand marketshare and to build a reputation as Maine’s leading home-state bank.
To mark the opening, the company donated $12,500 to the Portland Public Library and is holding an open house until 1:30 p.m.
“We moved to Portland because we have branches statewide, (but) the place we didn’t have a presence was the largest city in Maine,” said The Bank of Maine CEO John Everets. “The demand in the southern part of Maine is very significant and customers want access to us.”
The Bank of Maine now has 33 branches from York to Fort Kent and $830 million in assets.
The company moved its executive offices from Gardiner – where it had headquarters for 177 years – to Portland in mid-May. The Bank of Maine still has administrative, operations and IT staff in Gardiner.
Also in May, the company announced a name change and a major rebranding, including a redesigned logo and a new website and checking account product called “The Promise Account.”
In the last year, the 350-employee company has added roughly 40 employees, including IT staffers, lending officers and branch workers.
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