January 2, 2020– AUBURN & BIDDEFORD, ME – On January 1, 2020, Biddeford Savings and Mechanics Savings Bank merged under a single banking charter becoming Maine Community Bank. Biddeford Savings and Mechanics Savings will retain their names as divisions of the new Maine Community Bank. The merger of these two community banks creates an almost $1 billion bank, providing strength for future growth, while retaining their established bank identities and ties to their communities.
The creation of Maine Community Bank combines the strengths and rich histories of two banks that share the same mission and core values. “Bringing these two great banks together under one banking charter is the next logical step for the relationship between Biddeford Savings and Mechanics Savings,” said Jeanne Hulit, President and CEO of Maine Community Bank. “Both banks are already vibrant and strong. Officially unifying these two longstanding community banks enables us to grow stronger together for the benefit of our customers, our colleagues and our communities.”
This merger gives Biddeford Savings and Mechanics Savings the ability to increase lending capacity and introduce expanded product offerings. All bank branches will remain open and customers will have access to full-service banking at all branch locations from Auburn to Kennebunk later in 2020.
Biddeford Savings and Mechanics Savings are updating their visual identities, bringing the look and feel of each division in line with the parent brand, Maine Community Bank. “We’re thrilled to unveil our Maine Community Bank brand family identity,” said Hulit. “Biddeford Savings and Mechanics Savings share the same values and integrity, which our new Maine Community Bank logo represents. We are proud of our heritage and excited about our shared future as Maine Community Bank.”