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Financial Institutions . . . In the News

  • Acadia Trust merges with Camden National Bank and will now be called Camden National Wealth Management.  (Central Maine 9.14.2016)
  • Senate Committee prepares to question Wells Fargo CEO on high-pressure sales tactics. (Central Maine 9.19.2016)
  • Wells Fargo CEO Stumpf receives harsh criticism from members of the Senate Banking Committee.  (Central Maine 9.21.2016)
  • Some the $300 million Wells Fargo top executives received in bonuses may be returned because of Wells Fargo banking scandal.  (Central Maine 9.27.2016)
  • Portlander Michael Bopp to represent Wells Fargo with government investigations at congressional hearings.  (Washington Post 9.29.2016)
  • York County sees skimming devices at three locations:  Wells, Sanford, and Waterboro.  (Central Maine 10.2.2016)
  • Concerns arise from community banks and credit unions with potential new regulations because of the Wells Fargo scandal. (The Hill 10.3.2016)
  • Five of the largest U.S. banks submitted their new financial distress plans (“living wills”) as required by the Federal Reserve.  (The Hill 10.4.2016)
  • The Consumer Financial Protection Bureau issued new rules for prepaid cards.  (The Hill 10.5.2016)
  • Bangor Savings Bank’s customers being targeted with text scam. (BDN 10.6.2016)

Financial Institutions . . . In the News

  • Wells Fargo’s Middle Market Banking office opens in Portland.  (Mainebiz 8.9.2016)
  • Personal Income rose in Maine at the start of this year according to a study by Pew Charitable Trust. (PPH 8.29.2016)
  • Buoy Local gift-card company bought by Bangor Savings Bank.  (PPH 9.1.2016)
  • Kennebec Savings Bank Retired President, Mark Johnston, continues to serve through music. (BDN 9.6.2016)
  • Fraudulent text messages from banks and credit unions requesting customer’s account information are scams. (PPH 9.12.2016)

Financial Institutions . . . In the News

  • The Federal Reserve decided to not raise interest rates due to a weak May employment report and uncertainty about international economies.  (Portland Press Herald 7.6.2016)
  • Creating and using fake credit cards to buy $50,000 plus worth of goods in Maine leads to man’s arrest, jail, and a $250,000 fine.  (BDN 7.9.2016)
  • York County Federal Credit Union finds device on its ATM used to collect electronic information known as “skimming.”  (Mainebiz 7.12.2016)
  • May reports show foreclosure inventories dropped.  (Consumer Affairs 7.13.16)
  • JP Morgan reports strong quarterly results - leading other institutions. (BDN 7.14.2016)
  • Maine is the 9th top-performing state for the rate of growth for the first quarter.  (Portland Press Herald 7.27.2016) 

Lake Sunapee Bank and Bar Harbor Bank & Trust Merger Application Filed

The Maine Bureau of Financial Institutions has received applications to approve the merger of Lake Sunapee Bank Group with Bar Harbor Bankshares and the merger of Lake Sunapee Bank, FSB and Bar Harbor Bank & Trust.  The merger will provide a total of 50 branches in Maine, New Hampshire, and Vermont. 

Written comments and requests for hearing on the application are due with the Bureau by Sunday, August 28, 2016 by using the following link.

A copy of the Superintendent’s Notice to Interested Parties is available here.


Financial Institutions...In the News

  • A $1.2 Billion mortgage penalty by a lower court against Bank of America is reversed by a federal appeals court ruling.  (MPBN 5.23.2016)
  • Three parcels of land are being purchase by Bangor Savings Bank in the business park.  (BDN 5.25.2016)
  • TD Bank continues to grow in the United States at a rapid rate.  (National Real Estate 6.3.2016)
  • After several merchant data breaches, Bangor Savings Bank is replacing its customer’s debit cards.  (Mainebiz 6.7.2016)
  • Some Central Maine Healthcare Employees have delay in pay due to computer glitch between payroll and TD Bank.  (Sun Journal  6.16.2016)
  • Credit card holders are on the decline.  (Mainebiz 6.27.2016)