To All Maine Community Bank Customers,
We are pleased to share that Maine Community Bank and Gorham Savings Bank will be merging our two strong, locally focused banks to create one “Community” Bank, providing highly personalized customer service, local decision-making, and unparalleled community focus.
This merger of equals will create the second largest mutual savings bank in the state, with nearly $2.7 billion in assets, serving nearly 76,000 depositors, with the largest branch network in Androscoggin, Cumberland, and York counties.
Our newly combined bank will be called “Maine Community Bank” – emblematic of our combined footprint and underscoring our continued focus on serving Maine people.
What does this mean for you?
As our communities grow, our combined bank will have the ability to meet the changing needs of our customers and businesses with decisions made locally by the people you know and trust. In good times and bad, our bank will be here to support you and our communities with more lending power, resources, and local control.
By coming together, we are able to improve our efficiencies, redeploying resources to invest in the technology and services that the next generation of customers increasingly requires, while still providing an expanded full-service branch network and protecting our customers from the ever-increasing cyber security threats.
Together we will have a network of over 21 branches, 2 Video Tellers, and 25 ATMs spanning across Androscoggin, Cumberland, and York Counties, with the legal headquarters in Portland, Maine. Administrative and operational offices will remain in Biddeford, Auburn, Westbrook, and Gorham.
The combined company will be comprised of a talented leadership team from both organizations with Gorham Savings Bank’s Steve deCastro serving as chief executive officer. I will be serving as president and plan to retire 12 months after the merger is finalized.
We are committed to transparent communication and will have updates and frequently asked questions answered on our respective websites over the next several months as things progress. Please continue to do your banking as you normally would as a customer of Maine Community Bank. We will provide ample notice to you when you can expect changes to occur.
We are entering an era filled with optimism for the future and want you to know that our unwavering commitment to our customers and the communities we serve will only strengthen with this merger. To learn more about our respective banks, please visit www.mainecb.com and www.gorhamsavings.bank.
As always, thank you for your loyalty to Maine Community Bank. This is truly a historic time for banking in Maine where customers like you will benefit from a new bank “Community” for many years to come.
President & Chief Executive Offer
Maine Community Bank